E | Glossary

Economic utility

Economic utility refers to the measure of satisfaction or benefit that consumers derive from consuming goods and services. It is a fundamental concept in economics that helps to explain consumer behavior and decision-making. Economic utility can be categorized into different types, such as form utility (value added through production), time utility (value added by having a product available at a convenient time), place utility (value added by having a product available at a convenient location), and possession utility (value added by transferring ownership). Understanding economic utility helps businesses and policymakers optimize resource allocation and improve overall economic efficiency.

EIP-1559

EIP-1559, or Ethereum Improvement Proposal 1559, is a significant upgrade to the Ethereum blockchain's transaction fee mechanism. Implemented in August 2021 as part of the London Hard Fork, it introduces a base fee that dynamically adjusts based on network congestion, aiming to make transaction fees more predictable and reduce volatility.

Electronic Check (Echeck)

An electronic check, or eCheck, is a digital version of a traditional paper check used to make payments online. It allows funds to be electronically transferred from a payer's bank account to a payee's account through the Automated Clearing House (ACH) network.

Electronic Funds Transfer (EFT)

Electronic Funds Transfer (EFT) is a digital payment system that allows the transfer of money between bank accounts electronically, without the need for paper-based transactions. It is commonly used for direct deposits, online bill payments, and transferring funds between accounts, providing a fast, secure, and efficient way to handle financial transactions.

Electrum wallet

Electrum Wallet is a lightweight Bitcoin wallet known for its speed and efficiency. It was created in 2011 and is designed to be simple to use while providing advanced features for experienced users. Electrum connects to decentralized servers to retrieve blockchain information, ensuring quick transactions without needing to download the entire blockchain.

Elliott Wave Theory

Elliott Waves is a theory in technical analysis used to describe price movements in financial markets. Developed by Ralph Nelson Elliott in the 1930s, the theory posits that market prices unfold in specific patterns, known as waves, which are driven by collective investor psychology. According to Elliott, these waves can be identified and used to predict future market movements. The theory is based on the idea that markets move in a series of five upward waves followed by three corrective downward waves, forming a complete cycle. Elliott Wave Theory is popular among traders and analysts for its potential to forecast market trends and reversals.

Enterprise blockchain

Enterprise blockchain refers to the use of blockchain technology within a business or organizational context to enhance transparency, security, and efficiency in operations. Unlike public blockchains, which are open to anyone, enterprise blockchains are typically permissioned, meaning that only authorized participants can access and interact with the network.

Epoch (Crypto)

In crypto, an epoch is a specific time interval within a blockchain network, often lasting from minutes to days, depending on the blockchain’s structure.

Erasure Coding

Erasure Coding is a data protection method that breaks data into fragments, encodes them with redundant pieces, and distributes them across different locations to ensure data can be reconstructed even if some fragments are lost or corrupted.

ERC-1155

ERC-1155 is a versatile Ethereum token standard that allows for the creation and management of multiple types of tokens within a single smart contract. Unlike its predecessors, ERC-20 and ERC-721, which are designed for fungible and non-fungible tokens respectively, ERC-1155 supports both types, enabling more efficient and flexible token management. This standard is particularly useful for applications like gaming, where a single contract can handle various in-game assets, such as currencies, weapons, and collectibles, all with different properties.

ERC 721

ERC-721 is a non-fungible token (NFT) standard on the Ethereum blockchain. Unlike ERC-20 tokens, which are fungible and identical, each ERC-721 token is unique and can represent ownership of a specific item or asset, such as digital art, collectibles, or in-game items.

Ethash

Ethash is the proof-of-work hashing algorithm used by Ethereum-based blockchain networks to secure transactions and create new blocks.

Ethereum ETF

An Ethereum ETF is an exchange-traded fund that tracks the price of Ethereum, allowing investors to gain exposure to the cryptocurrency without directly owning it.

Exit scam

An exit scam refers to a fraudulent practice where the operators of a business, typically in the cryptocurrency or online marketplace sectors, abruptly shut down their operations and disappear with the funds or assets entrusted to them by customers or investors. This deceptive act often leaves victims with significant financial losses and no recourse for recovery.

Glossary