Glossary
Keccak
A family of cryptographic hashing functions which utilize sponge construction in order to provide wider random permutation, leading to greater flexibility in its use cases.
Lambo
"Lambo" is meme referring to the luxury vehicle investors will buy with their new found crypto wealth.
Law of Demand
"Law of Demand" refers to the readiness of consumers to buy a certain amount of assets from a certain price.
Know Your Customer (KYC)
"Know Your Customer" is a process used as an anti-money laundering countermeasure that involves investors providing exchanges and banks with verifiable means of identification such as a Government issued Passport or Driver’s License.
Latency
The time delay between submitting a transaction to a network and the first confirmation of the transaction.
Layer 0
The first layer of a blockchain which includes the necessary elements to build the chain itself, such as hardware for mining and an internet connection.
Layer 1
"Layer 1" refers to an operating blockchain.
Layer 2
"Layer 2" refers to a solution protocol built on the layer 1 blockchain. Layer 2 solutions usually aim at providing scalability and speed to the Layer 1 blockchain.
Ledger
"Ledger" is a record-keeping system where the monetary and identity details of transactions are recorded anonymously.
Lightning Network
"Lightning Network" is a blockchain scalability model that greatly expands throughput, speed, cost effectiveness and compatibility.
Liquidity
"Liquidity" refers to the ease of buying or selling an asset without causing significant price fluctuations.
Listing
"Listing" is an addition of an asset to an exchange market.