Bitcoin (BTC)</strong></a> or <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-binance-coin-bnb/">Binance Coin (BNB)</strong></a>, which are programmed to have a limited supply), every buyer will have to pay more with subsequent purchases.</p>\n<p>The price increase occurs because the volume of the asset progressively decreases with each acquisition, making it more valuable. 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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 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Bounties were first used by various blockchain projects as a marketing tool to promote participation in validation services. Their utility in the crypto world has since expanded.</p>\n<p>Crypto bounty reward programs are frequently used as a promotional tool for the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">initial coin offering (ICO)</strong></a> of a new token. ICOs that hope to succeed need to garner a lot of attention from the public.</p>\n<p>Projects that are working on ICOs first announce promotional campaigns where the users are able to perform certain marketing actions which grant them tokens. Such actions can be as simple as <strong>sharing a photo on social media or writing a review</strong>. Performing these actions can grant the users free or discounted tokens.</p>\n<p>The popularity of bounty reward campaigns skyrocketed in 2017 and 2018, leading to the so-called ICO craze. This method was often utilized by fraudulent projects which scammed people by promoting fake tokens. This led to many users growing cautious of bounty reward campaigns.</p>\n<p>Certain ICOs and bounty reward campaigns have been deemed illegal by the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-securities-and-exchange-commission-sec/">Securities and Exchange Commission (SEC)</strong></a>. Despite the backlash, bounty rewards have remained a prominent part of the crypto market to promote new cryptocurrencies and tokens.</p>\n<p>Some projects utilize bounty rewards post-launch. <strong>Such campaigns are known as post-ICO rewards schemes</strong>. Post-ICO rewards are used to boost project development by analyzing the code to detect bugs and vulnerabilities.</p>\n<p>Bounty rewards can also be offered for translation and localization services that make the blockchain project more accessible in the global market.</p>\n<p>Users that pursue a large number of rewards programs are referred to as <strong>crypto bounty hunters</strong>. Their aim is to receive the largest possible benefits from taking part in several projects at once. The crypto bounty hunting landscape is quite competitive as bounty hunters want to take part in the best-paying reward schemes.</p>\n<p>&nbsp;</p>","level":"medium","meta_title":"What is Bounty? Definition & Meaning | Crypto Wiki","meta_description":"Bounty meaning: Bounty - a reward given to users for completing certain tasks on the blockchain.","meta_keywords":null,"language":"en","created_at":"2022-02-18T07:26:22.000000Z","updated_at":"2023-04-14T14:06:29.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-bounty"},"prevSection":{"id":121,"original_id":null,"author_id":41,"translator_id":null,"title":"What is Blockchain-Enabled Smart Lock?","slug":"what-is-blockchain-enabled-smart-lock","section":"B","keyword":"Blockchain-Enabled Smart Lock","status":"published","definition":"smart locks developed using blockchain technology.","content":"<p>A <strong>smart lock</strong> is an <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-internet-of-things/">Internet of things (IoT) device</strong></a> that can be digitally controlled by another device, like a phone or a tablet. While consumer-grade smart locks are growing increasingly popular among customers, they experience issues related to digital security.</p>\n<p>Some of the biggest issues with smart locks are related to their connectivity. Since they typically require WiFi or Bluetooth connection, they can become a vulnerable breach point for any malicious parties.</p>\n<p><strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">Blockchain-enabled smart locks</strong> use <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralized technology</strong></a> to improve the security measures of these devices. They utilize <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a> that contain variables required to lock and unlock the device. Blockchain-enabled smart locks are <strong>highly programmable</strong> and can be easily connected to different payment methods, like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">digital tokens</strong></a>.</p>\n<p>The addition of blockchain-enabled smart contracts makes the locking-unlocking functionality more versatile and reliable. This is useful for households utilizing smart locks as it ensures people can only access the house with the owners&rsquo; digital permission, and temporary entry codes can be generated as a security measure.</p>\n<p>Since blockchain-enabled smart locks are decentralized, they are inherently very secure. The smart lock can receive instructions from anywhere in the world, and using joint signatures means that additional security infrastructure is not required.</p>\n<p>Blockchain-enabled smart contracts can encounter some issues. They are dependent on a <strong>decentralized network of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-node/">nodes. This means that any loss or interference of connectivity can impact its utility. Losing connection could leave the owner of the smart lock &ldquo;locked out&rdquo; without manual, non-digital access.</p>\n<p>While there are some downsides to blockchain-enabled smart locks, they are a more secure solution compared to traditional smart locks thanks to being highly programmable.</p>","level":"easy","meta_title":"What is Blockchain-Enabled Smart Lock? Definition & Meaning | Crypto Wiki","meta_description":"Blockchain-Enabled Smart Lock meaning: Blockchain-Enabled Smart Lock - smart locks developed using blockchain technology.","meta_keywords":null,"language":"en","created_at":"2022-02-18T07:10:30.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-blockchain-enabled-smart-lock"},"currentChapter":"B","currentSection":"what-is-bonding-curve","chapterTitle":"B","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-bonding-curve","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter B

What is Bonding Curve?

Bonding Curve MEANING:
Bonding Curve - a mathematical curve that is used to define the relationship between an asset’s price and supply.
Easy
1 minute

Let's find out Bonding Curve meaning, definition in crypto, what is Bonding Curve, and all other detailed facts.

A bonding curve is a mathematical concept. It’s used to define the relationship between the price and supply of a particular asset.

When someone buys an asset of limited quantity (such as Bitcoin (BTC) or Binance Coin (BNB), which are programmed to have a limited supply), every buyer will have to pay more with subsequent purchases.

The price increase occurs because the volume of the asset progressively decreases with each acquisition, making it more valuable. This kind of financial mechanism is expected to be more profitable to the earlier investors.

The bonding curve plays an important role in the crypto market, as many cryptocurrencies, including the biggest one in the world, Bitcoin, are developed to be of a limited quantity.

Smart contracts known as bonding curve contracts have been created specifically for token issuance. These smart contracts are independent of crypto exchange platforms.

Using bonding curve contracts, users can buy or sell tokens with Ethereum (ETH). The average price of a token is used by converting its price into ETH to determine the base rate.

There is no limit to how many tokens can be created this way. The circulation is instead limited by how much ETH is in existence at the given time. Bonding curve contracts automatically ensure that as the number of issued tokens goes up, their price increases.
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