GLOSSARY
REMITTANCES

Remittances

Remittances are simply the act of sending money from one party to another. An example of a remittance is sending money to family members. Other examples are making a payment or settling an invoice.

Key Takeaway

A remittance is any form of payment transferred to another party — from sending money to family members, making a payment, or settling an invoice.

Related Words

Verkle Tree

A Verkle tree is a data structure that combines elements of both Merkle trees and vector commitments to improve the efficiency of proof sizes in blockchain applications, particularly for verifying large datasets.

Fibonacci Retracement

Fibonacci retracement is a popular technical analysis tool that helps traders identify potential levels of support and resistance likely to occur.

Passkey

A passkey is a password or private key used to access a cryptocurrency wallet, sign transactions, or interact with blockchain-based applications.

Merkle Root

A key concept in how data is securely and efficiently verified within a blockchain, a Merkle root represents the combined hash of all transactions within a block.

Merkle Tree

A Merkle tree is a data structure constructed by hashing paired data, summarising all the transactions in a block by producing a digital fingerprint of the entire set of transactions.

Staking Pool

A staking pool is a mechanism that allows multiple participants to combine their resources to increase their chances of earning rewards through staking.

Lockup

In cryptocurrency and blockchain, ‘lockup’ refers to a period during which certain tokens or coins are restricted from being sold, transferred, or traded.

Trading Fees

Trading fees are costs that users pay when they engage in transactions on a blockchain network or trade cryptocurrencies on an exchange.

Scalability Trilemma

The blockchain scalability trilemma states that blockchains can only simultaneously achieve two out of either decentralisation, scalability, or security — but never all three.

Scalability

Blockchain scalability refers to the ability of a blockchain network to handle an increasing amount of transactions and data without compromising performance, security, or decentralisation.