alpha, the beta stage involves outsiders, that aren’t directly involved with the company to run tests, analyze the application and report bugs or errors if any were found. This method is used with the hopes to get genuine feedback.</p>\n<p>The Beta version isn’t far from the final version, since it does have the functionality and the looks of how approximately it will be at the final stage. However, alpha and beta versions tend to have design adjustments throughout the process.</p>\n<p>The next move after beta testing is the release. When the beta version is not far from being done, it is called a “release candidate”. If no errors or issues happen after, the software can be released and referred to as a <strong>“stable release”.</strong></p>\n<p>The cryptocurrency that should be released into the market goes through similar stages. It is tested internally and externally making sure that the blockchain architecture does not break down when users start exchanging it.</p>\n<p>Moreover, to be fitting for beta testing, the product has to have all of the necessary features, that are planned for the final version. The product shouldn’t go through unpredictable crashes.</p>\n<p>Speaking of participants, they must be from the target audience and be able to perform real-world tasks and use the app in a real-world context at the same time. Real users are the ones that do the final test of user acceptance, in real, external conditions. Meaning, that the application will get personal feedback from potential customers.</p>\n<p><strong>Open beta testing involves a lot of people who typically are potential clients.</strong> Perhaps open testing is a way of marketing and letting the clients get to know the product. Nevertheless, if there is a need for private testing, and keeping the product secret from the public, a smaller number of testers are included. </p>\n<p>A beta release means that the software is available for developers and testers. The people that are testing the version of the software can be called beta testers. These testers are usually volunteers that are curious about the product. They can not only provide feedback about the bugs, but they can recommend new features and additions as well.</p>\n<p><em>The goal is to avoid future failure of the product and increase the overall quality.</em></p>\n<p>One example would be a new blockchain and token protocol, Traxalt, which has conducted a beta testing phase as a way of making sure that all the systems are working the way they should. 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Investing","slug":"trading-and-investing","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-trading.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-trading-101.jpg","rating":80,"sections":[{"slug":"where-to-trade-crypto","title":"Where Can You Trade 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Them?","featured_image_id":11359,"status":"published","chapter_id":7,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-an-airdrop","featured_image":{"id":11359,"uuid":"7b43c968-1275-4d3e-acb1-1707a43a4014","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","path":"crypto/storage/optimized/what-is-an-airdrop-featured-image.jpg","original_path":"crypto/storage/original/what-is-an-airdrop-featured-image.jpg","name":"what-is-an-airdrop-featured-image.jpg","original_name":"what-is-an-airdrop-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"66.05KB"},"youtube_video":null},{"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","featured_image_id":6542,"status":"published","chapter_id":7,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-get-free-crypto","featured_image":{"id":6542,"uuid":"4fceb9ab-391e-4ef9-b00d-c871a49878a3","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-get-free-crypto.o.jpg","path":"crypto/storage/media/how-to-get-free-crypto.o.jpg","original_path":"crypto/storage/media/how-to-get-free-crypto.jpg","name":"how-to-get-free-crypto.o.jpg","original_name":"how-to-get-free-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"93.93KB"},"youtube_video":null},{"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":6,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-arbitrage-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","featured_image_id":11394,"status":"published","chapter_id":7,"language":"en","order":7,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-fud","featured_image":{"id":11394,"uuid":"defd32c5-d3e1-4e66-9f58-e2ee316bad3a","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/what-is-fud-featured-image.jpg","path":"crypto/storage/optimized/what-is-fud-featured-image.jpg","original_path":"crypto/storage/original/what-is-fud-featured-image.jpg","name":"what-is-fud-featured-image.jpg","original_name":"what-is-fud-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"65.30KB"},"youtube_video":null},{"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","featured_image_id":null,"status":"published","chapter_id":7,"language":"en","order":8,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/investing-in-cryptocurrency","featured_image":null,"youtube_video":null},{"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","featured_image_id":6532,"status":"published","chapter_id":7,"language":"en","order":9,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-a-rug-pull-in-crypto","featured_image":{"id":6532,"uuid":"be8043fb-078c-4487-9af9-d2d9c2b574ea","public_url":"https://assets.bitdegree.org/crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.o.jpg","original_path":"crypto/storage/media/what-is-a-rug-pull-in-crypto.jpg","name":"what-is-a-rug-pull-in-crypto.o.jpg","original_name":"what-is-a-rug-pull-in-crypto.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"92.28KB"},"youtube_video":null},{"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","featured_image_id":6555,"status":"published","chapter_id":7,"language":"en","order":10,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-rug-pulls-in-crypto","featured_image":{"id":6555,"uuid":"80cbed9d-3b4b-45d9-9a85-d2d8108c0f32","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","path":"crypto/storage/media/how-to-avoid-rug-pulls.o.jpg","original_path":"crypto/storage/media/how-to-avoid-rug-pulls.jpg","name":"how-to-avoid-rug-pulls.o.jpg","original_name":"how-to-avoid-rug-pulls.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"111.99KB"},"youtube_video":null},{"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","featured_image_id":6526,"status":"published","chapter_id":7,"language":"en","order":11,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-avoid-crypto-taxes","featured_image":{"id":6526,"uuid":"1e44162c-ef1d-4010-81b4-9e8d1809aedf","public_url":"https://assets.bitdegree.org/crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","path":"crypto/storage/media/how-to-avoid-crypto-taxes.o.jpg","original_path":"crypto/storage/media/how-to-avoid-crypto-taxes.jpg","name":"how-to-avoid-crypto-taxes.o.jpg","original_name":"how-to-avoid-crypto-taxes.jpg","title":null,"alt":null,"width":768,"height":478,"disk":"spaces","status":"uploaded","readable_file_size":"99.10KB"},"youtube_video":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-analysis.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-analysis-101.jpg","rating":100,"sections":[{"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":1,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-bullish-and-bearish","featured_image":null,"youtube_video":null},{"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":2,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/best-technical-analysis-indicators-for-crypto","featured_image":null,"youtube_video":null},{"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/what-is-candlesticks","featured_image":null,"youtube_video":null},{"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":4,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-track-new-crypto-coins","featured_image":null,"youtube_video":null},{"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","featured_image_id":null,"status":"published","chapter_id":8,"language":"en","order":5,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/how-to-research-crypto","featured_image":null,"youtube_video":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/learn-crypto-mining.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-mining-101.jpg","rating":80,"sections":[]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters/crypto-101-glossary.jpg","chapter_simple":"https://assets.bitdegree.org/crypto/assets/crypto-book/chapters-simple/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}],"nextSection":{"id":82,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Bid Price?","slug":"what-is-bid-price","section":"B","keyword":"Bid Price","status":"published","definition":"is the amount that a certain individual is down to pay for an asset, service, commodity, or contract in financial markets.","content":"<p><strong>The amount that a particular person is thinking to pay in a financial marketplace for an asset, service, commodity, or contract refers to the bid price. </strong>The price of the bid is usually set, and there might be an initial thought of how much the price will go up in the bidding.</p>\n<p>A bidding war might happen if the asset is desired by a lot of participants and they place their bids one after the other. The price of the asset significantly increases, since, in order to win an auction, participants have to place higher bids than other buyers.</p>\n<p>For example, Nyc Auction House placed a luxurious diamond “the Enigma”, that can be purchased via <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">
ETH, <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">
BTC, or USDC. The diamond reached a bid of $6.8 million.</p>\n<p>If shareholders or brokers wish to sell their assets or holdings, they have to decide on one of the existing bid prices on the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-order-book/">
order book</strong></strong></a>, usually the highest, or propose a price themselves. Then a buyer must bid against it, that way fulfilling the order.</p>\n<p>The bid-ask spread is calculated by subtracting the value of an ask price and a smaller amount of the bid price. </p>\n<p>The order book has a lot of different bid price options for the buyers, and ask prices for the sellers. The contrast between the highest bid price and the minimum ask price is called the bid–ask spread.</p>\n<p>There is also an unsolicited bid that refers to the scenario when a bidder submits an offer despite the fact that the seller isn’t trying to sell its asset at the moment.</p>\n<p>It is common that cryptocurrencies sell at a lower price than the ask price. Moreover, the participant of the bidding has the full power to navigate the bid price. But he must follow the market standards. Trading markets and other financial markets are known to be ambitious regarding the trading of real-time price updates.</p>\n<p><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-market-maker-market-taker/">Market makers</strong></strong></a> are frequently responsible for developing bids. They may also do so if they can sell at the price requested by the vendor. Market makers benefit from the difference between the two values, which is represented by the spread. The greater the spread, the greater the revenue generated by an investor.</p>","level":"medium","meta_title":"What is Bid Price? Definition & Meaning | Crypto Wiki","meta_description":"Bid Price meaning: Bid Price - is the amount that a certain individual is down to pay for an asset, service, commodity, or contract in financial markets.","meta_keywords":null,"language":"en","created_at":"2022-02-11T13:47:32.000000Z","updated_at":"2022-05-13T14:32:22.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-bid-price"},"prevSection":{"id":80,"original_id":null,"author_id":40,"translator_id":null,"title":"What is BEP-721?","slug":"what-is-bep-721","section":"B","keyword":"BEP-721","status":"published","definition":"BEP-721 is a Binance Smart Chain standard for tokens.","content":"<p>BEP-721 is a standard for tokens placed on a <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/binance/">Binance Smart Chain. The most important aspect is that it enables the development of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">non-fungible tokens (NFTs</strong></a>). Moreover, the very first network that created a standard for NFTs is the <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">Ethereum network.</p>\n<p>To be exact, collectibles or real estate tokens have a clear value. The <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-supply-and-demand/">ERC-721 token refers to these particular tokens that represent the ownership of NFTs. This is a great function since the popularity of non-fungible tokens is rapidly growing. It’s only reasonable that a variety of ecosystems follow along.</p>\n<p>BEP-721 tokens can showcase <strong>antiques, collectibles, items discovered in a game, physical and digital art, real estate, and lottery tickets</strong>.</p>\n<p>Furthermore, the tokens can be rendered on:</p>\n<ul>\n<li>Juggerworld platforms</li>\n<li>Bakery Swap</li>\n<li>Binance NFT Marketplace</li>\n<li>Others included in the Binance Smar Chain ecosystem</li>\n</ul>\n<p>BEP-721 is, in reality, a variant of Ethereum's ERC-721. To be more specific, ERC-721 is a prominent NFT standard, and tokens may be used to tokenize access control and grant it a distinct identity, differentiating these tokens from other BEP-20 tokens. Creators usually use BEP-20 tokens to reproduce the same tokens within a single <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a>.</p>\n<p>Every one of the NFTs is different (irreplaceable), and it’s impossible to trade them for another token. Furthermore, the standard always gives a different ID to each token.</p>\n<p>For example, the \"tokenMetadata\" option enables metadata to be placed in a token used to connect to a work of art or another valuable element of the NFT. These can be exchanged and transferred according to their market worth, which is defined by rarity or demand.</p>\n<p>Take <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/goon/opensea-cryptopunks/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>CryptoPunk</strong></a>, whereby each unit has data in the NFT that relate to a particular punk in a pattern of <strong>10,000 punks.</strong> CryptoPunks use metadata, regardless of the fact that they do not adhere to the BEP-721 token standard.</p>\n<p>Besides, BEP-721 tokens have a set of functionalities that determine how they interact with the Binance Smart Chain:</p>\n<ul>\n<li>Symbol: A short term for the token, similar to a ticker symbol.</li>\n<li>balanceOf: Displays the total token balance for a particular address.</li>\n<li>totalSupply: Displays the total number of tokens produced.</li>\n</ul>\n<p>It’s no secret that almost all of the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">DeFi and NFT platforms require customers to obtain a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">digital wallet</strong></strong></a>, as well as pay for assets with cryptocurrencies. Those who don’t already have a digital wallet are required to create one in order to engage with Binance Smart Chain projects. All of the Binance Smart Chain tokens need BNB to pay the fees. That’s the reason users should always have some BNB in their wallets.</p>","level":"medium","meta_title":"What is BEP-721? Definition & Meaning | Crypto Wiki","meta_description":"BEP-721 meaning: BEP-721 - BEP-721 is a Binance Smart Chain standard for tokens.","meta_keywords":null,"language":"en","created_at":"2022-02-11T10:19:25.000000Z","updated_at":"2022-05-13T14:32:22.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-bep-721"},"currentChapter":"B","currentSection":"what-is-beta-release","chapterTitle":"B","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-beta-release","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter B
What is Beta (Release)?
Beta (Release) MEANING:
Beta (Release) -
During the beta testing stage testers try to discover bugs regarding security, efficacy, and availability.
Let's find out Beta (Release) meaning, definition in crypto,
what is Beta (Release),
and all other detailed facts.
To put it simply, the alpha and beta stages refer to the phases of testing new software, or an application in the world of IT. The beta stage comes right after the alpha stage in a software development cycle. During this following stage, the aim is to improve security, efficacy, and availability.
Differently from alpha, the beta stage involves outsiders, that aren’t directly involved with the company to run tests, analyze the application and report bugs or errors if any were found. This method is used with the hopes to get genuine feedback.
The Beta version isn’t far from the final version, since it does have the functionality and the looks of how approximately it will be at the final stage. However, alpha and beta versions tend to have design adjustments throughout the process.
The next move after beta testing is the release. When the beta version is not far from being done, it is called a “release candidate”. If no errors or issues happen after, the software can be released and referred to as a “stable release”.
The cryptocurrency that should be released into the market goes through similar stages. It is tested internally and externally making sure that the blockchain architecture does not break down when users start exchanging it.
Moreover, to be fitting for beta testing, the product has to have all of the necessary features, that are planned for the final version. The product shouldn’t go through unpredictable crashes.
Speaking of participants, they must be from the target audience and be able to perform real-world tasks and use the app in a real-world context at the same time. Real users are the ones that do the final test of user acceptance, in real, external conditions. Meaning, that the application will get personal feedback from potential customers.
Open beta testing involves a lot of people who typically are potential clients. Perhaps open testing is a way of marketing and letting the clients get to know the product. Nevertheless, if there is a need for private testing, and keeping the product secret from the public, a smaller number of testers are included.
A beta release means that the software is available for developers and testers. The people that are testing the version of the software can be called beta testers. These testers are usually volunteers that are curious about the product. They can not only provide feedback about the bugs, but they can recommend new features and additions as well.
The goal is to avoid future failure of the product and increase the overall quality.
One example would be a new blockchain and token protocol, Traxalt, which has conducted a beta testing phase as a way of making sure that all the systems are working the way they should. It formed an alliance with another company and gave them early access to the product.
The alliance company gave feedback, and the developers improved the system and fixed the bugs according to it.
