KYC, or “Know Your Customer,” is a process used by financial institutions to verify the identity of their clients and assess their potential risks, primarily to prevent illegal activities like money laundering, fraud, and terrorist financing. This process usually requires customers to submit personal identification documents (e.g., passport, utility bills), which are then verified by…

Network Time Protocol (NTP) is a protocol used to synchronize the clocks of computers and devices across a network. It ensures that the system clocks of multiple machines, regardless of geographic location, remain in sync with each other. This is critical for many applications, such as logging events, coordinating processes, or ensuring security mechanisms function…

The Blockchain Trilemma refers to a concept in blockchain development that suggests there is a trade-off between three key properties: decentralization, scalability, and security. According to this trilemma, it is challenging for a blockchain to fully optimize all three of these properties simultaneously. Instead, developers often have to make compromises and prioritize two at the…

A custodial wallet is a type of cryptocurrency wallet where a third party (such as an exchange or financial service provider) holds and manages the private keys on behalf of the user. In other words, the user does not have direct control over the private keys, which are necessary to access and manage their cryptocurrency.…

Web 3.0, also known as the decentralized web, refers to the next generation of the internet that emphasizes decentralization, user control, and the integration of blockchain technology. It represents a shift away from the current Web 2.0 model, which is dominated by centralized platforms and big tech companies, toward a more user-centric, secure, and open…

A digital notary is a service or technology that verifies and authenticates digital documents, transactions, or signatures, ensuring their integrity, authenticity, and non-repudiation (meaning the signer cannot deny their involvement). Like a traditional notary public, a digital notary serves as a trusted third party, but it operates in the digital space using cryptographic techniques to…

Cryptography is the science of securing information by transforming it into a format that only authorized parties can understand and access. It involves using mathematical techniques to encode and protect data from unauthorized access, ensuring privacy, integrity, and authenticity of communications or data storage. Cryptography is essential for many modern technologies, including internet communications, online…

In the Cardano ecosystem, Genesis Coins refer to the original coins that were minted at the inception of the network. These coins were created during the network’s “genesis block,” which is the very first block of transactions in the Cardano blockchain. At the launch of Cardano, the genesis block contained a pre-determined number of ADA…