Decryptopedia™

Terms that start with “E”

1. Elon Musk

   Elon Musk is the co-founder and CEO of Tesla. Elon Musk’s tweets have been known to disrupt cryptocurrency markets, creating both rallies and huge sell-offs, after he lends public support for or lays criticism against, various projects. Musk also shares his thoughts on Bitcoin regularly using Twitter, like announcing in 2021 that Tesla bought USD $1.5 billion worth of Bitcoin.

2. Encryption

   Encryption is a security technique that takes data, like text, and scrambles it into a secret message so it can’t be read by another party. Decryption is what allows the recipient of the secret message to unscramble it back into a readable state. Encryption uses various algorithms or ciphers to do the scrambling.

3. Ethereum (ETH)

   Ethereum is a decentralized blockchain platform that makes digital money, global payments, and applications possible using open-source software and smart contract functionality. The big difference between the two is that Ethereum is programmable, meaning you can build and use decentralized apps on the network. That means the Ethereum blockchain can be programmed to do virtually anything.

4. Ethereum Virtual Machine (EVM)

   Is the single global virtual computer within the Ethereum universe of Ethereum nodes whose “state” every network participant/node agrees on. The primary feature that sets it apart from distributed ledger blockchains like Bitcoin, making Ethereum a platform as well as a blockchain. EVM refers to this idea of a software platform of Ethereum that allows developers on Ethereum to create their own decentralized applications or DApps.

5. Exchange Rate

   An Exchange Rate is the value of one currency expressed in terms of another currency. It helps to calculate what amount of currency you’d get when exchanging or trading it for another currency.