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User Issued Assets (UIAs)
User Issued Assets (UIAs) on Cardano refer to custom tokens created by users on the Cardano blockchain, alongside the native ADA cryptocurrency. Cardano allows users to issue, transfer, and manage their own assets without needing smart contracts, which is unique compared to other blockchains like Ethereum. Here’s how UIAs work on Cardano: The Foundation: Cardano’s…
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Composability
Composability on Cardano refers to the ability of decentralized applications (dApps) and smart contracts to interact with and build upon one another in a modular, reusable, and scalable way. This concept is crucial in blockchain ecosystems because it allows developers to create new functionalities or services by combining existing components rather than building everything from…
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Serial Transaction Processing
Serial transaction processing refers to handling transactions one after another in a sequential manner. In the context of blockchain, this means that each transaction is processed in order, and the next transaction cannot be processed until the previous one is completed. This ensures that all transactions are processed in a specific sequence, which helps maintain…
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Pegging (Cardano)
In the context of blockchain and cryptocurrency, pegging typically refers to linking the value of a digital asset to another asset, often a stable and more well-known currency, like USD. This concept is used to maintain price stability. In Cardano or other blockchain ecosystems, pegging could refer to a few things: In either case, pegging…
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Domain-Specific Language (DSL)
A Domain-Specific Language (DSL) is a specialized programming language designed to solve problems or tasks within a specific domain or industry. Unlike general-purpose programming languages (like Python, Java, or C++), which are used for a wide range of applications, a DSL is tailored to a particular use case or environment, making it more efficient and…
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Marlowe
Marlowe is a domain-specific language (DSL) designed specifically for writing and executing financial contracts on the Cardano blockchain. It is a specialized language that simplifies the creation of financial smart contracts, making it accessible not just to developers but also to finance professionals with limited programming experience. Key Features of Marlowe How Marlowe Works Marlowe…
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What’s a practical example of a UTxO limitation in the real world?
A practical limitation of the UTxO model can be illustrated with a scenario involving smart contracts and concurrent access, especially in use cases like decentralized exchanges (DEXs). Example: Decentralized Exchange (DEX) on a UTxO-Based Blockchain Let’s imagine a decentralized exchange (DEX) built on a traditional UTxO blockchain (such as Bitcoin’s model). In this scenario, multiple…
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What’s the difference between UTxOs and eUTxOs?
The UTxO (Unspent Transaction Output) model and eUTxO (Extended Unspent Transaction Output) model are two different blockchain architectures used to manage how transactions are recorded and validated on a blockchain. Cardano introduced the eUTxO model as an evolution of the traditional UTxO model used by Bitcoin. Let’s explore the differences and how the eUTXO model…
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Web3
Web3 refers to the next generation of the internet, where decentralized technologies, such as blockchains, smart contracts, and cryptocurrencies, enable users to interact in a peer-to-peer (P2P) environment without the need for intermediaries like large corporations or centralized authorities. It focuses on ownership, control, and security being in the hands of users rather than centralized…
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What is a 51% attack?
A 51% attack is a type of attack on a blockchain where a single entity or group of entities gains control of more than 50% of the network’s computational power (in a Proof of Work system) or stake (in a Proof of Stake system). With this majority control, the attacker can manipulate the blockchain in…
