Glossary
Merixcoin (Merix) - Is the official cryptocurrency and utility of the entire Merix Coin ecosystem. Its primary use cases are gas fees and minting fees.
MerixLand - Blockchain virtual tokens (using the ERC-721 standard for NFTs) representing physical parcels in the world. They allow users to own a portion of the land and thus be able to create network chapters where whoose members do business beetween.
MerixCard is one of the key elements of the Merix Network project. Those tradable NFTs are access cards that you can buy using $MERIX. Each MerixCard is minted as a pass that you can use to give and receive business referrals, and each has its own stats, such as identifying its activity category, validations and networking strength.
NFT - The acronym for ‘non-fungible token’, which is a type of cryptographic token that is non-interchangeable with another token of its kind.
Blockchain - A system of recording information in a decentralized, transparent, and secure manner, thanks to advanced cryptography.
Private Key - Also known as a secret key, this is used to create digital signatures without having to divulge the user’s secret keyword(s).
Digital Wallet - Also known as ‘electronic wallet’, which stores digital assets (e.g. cryptocurrencies, non-fungible tokens, etc.)
Ethereum - Ethereum (ETH) is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform.
Polygon - Is a decentralized Ethereum scaling platform that enables developers to build scalable user-friendly dApps with low transaction fees without ever sacrificing on security.
Mint - The process of creating new crypto coins or tokens.
Floor Price - The floor price is the lowest price of a digital item associated with an NFT
Gas Fees - Gas fees are payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain.
Proof of Stake - Proof-of-stake (PoS) is a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency.
Proof of Work - Proof of Work (PoW) describes the process that allows the bitcoin network to remain robust by making the process of mining, or recording transactions, difficult.
Node - Any computer or entity that proactively participates in any blockchain and that stores a copy of the entire blockchain.
Tokenize - Refers to the process of creating digital tokens that represent ownership of a real-life asset.
Cryptocurrency - A digital asset that is protected by advanced cryptography.
Seed Phrase - A series of words generated by a person’s cryptocurrency wallet that enables
users to access their assets stored in the wallet.
ERC-20 token - An ERC20 token is a standard used for creating and issuing smart contracts on the Ethereum blockchain.
DAO - The acronym for decentralized autonomous organization, which is a highly democratic social community or organization.
Last modified 4mo ago