stablecoins. Therefore, it is a coin, asset, or token created on a blockchain. Moreover, every <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat-pegged cryptocurrency is developed to constantly contain a particular cash value in holdings.</p>\n<p>For instance, <strong>Tether</strong> is one of the most well-known fiat-backed cryptocurrencies. It has had controversy surrounding its existence, as Tether has previously stated that every unit was backed by the <strong>U.S. dollar.</strong></p>\n<p>Tether's cryptocurrency, on the other hand, increased its backing in March 2019 to incorporate loans to affiliated corporations, which are deemed less reliable than fiat-backed currencies.</p>\n<p>Usually, the most prominent cryptocurrency exchanges are obligated to safeguard positions from <strong>price volatility,</strong> by keeping some reserves in the fiat-backed asset. This is recognized as one of the primary reasons why <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">exchanges are large holders of fiat-backed cryptos.</p>\n<p>Increasing the exchange's <strong>liquidity foundation</strong> is considered a major motivator for exchanges to retain fiat-backed cryptocurrencies. However, not all cryptocurrency exchanges have accessibility to financial services. Besides, having some fiat-pegged cryptocurrencies on hand can function as a hedge against this.</p>\n<p>Fiat-pegged cryptocurrencies, in general, <strong>were designed to address the issue of excessive volatility</strong>, since cryptocurrencies are notoriously volatile, with large upward and downward movements being prevalent.</p>\n<p>Furthermore, stablecoins are often tied to the most important currencies, such as the US dollar, euro, and British pound. 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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":345,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Field Programmable Gate Array?","slug":"what-is-field-programmable-gate-array","section":"F","keyword":"Field Programmable Gate Array","status":"published","definition":"(FPGA) is a unified circuit that enables users or developers to adjust it after it has been manufactured.","content":"<p>Typically, the customization entails selecting and arranging a collection of gates, switches, and routing channels. Programming changes according to requirements and ambitions. It can, however, be as basic as a single logic gate or as sophisticated as several acts.</p>\n<p>Since it is programmable, it allows users to use the same component of hardware for several distinct applications.<strong> It also allows the device to be used for developing new ideas at a low initial cost.</strong></p>\n<p>Users program it manually with a programming language such as <strong>Verilog or VHDL</strong> to construct unique hardware functionalities tailored to their requirements. It is important to note that FPGA is not a new technology, but instead, previous technologies that have been around for more than 40 years are blended and included.</p>\n<p>The FPGA configuration can be done remotely, usually after the device has been placed in the final application.</p>\n<p>Moreover, FPGAs may be configured to do entirely other functions. Users might utilize a specific platform for one task today and something entirely different the next, avoiding the need to rebuild again.</p>\n<p>FPGAs were previously too pricey for most businesses. However, <strong>recent advancements have made them more accessible for many enterprises</strong>, which has sparked enthusiasm among investors and developers.</p>\n<p>To be clear, FPGAs are programmable logic devices that combine the freedom of software with the hardware performance of an application-specific integrated circuit, or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-asic/">ASIC. As a consequence, an incredibly high-performance chip that can be tuned to particular applications is created.</p>\n<p>Likewise, high-performance computing is the principal use of FPGAs in banking, aerospace, military, and telecommunications. The technique is also utilized in <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin and other cryptocurrency mining.</p>\n<p>FPGAs are also employed in applications ranging from cryptocurrency mining to audio analysis. FPGAs are more adaptable than <strong>application-specific integrated circuits</strong> <strong>(ASICs),</strong> which are chips developed for a specific function and cannot be reused.</p>\n<p>The major benefit of an FPGA over a general-purpose <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-central-processing-unit-cpu/">CPU is its ability to be more economical in terms of power consumption, size, and performance. As the amount of calculations rises, each of these elements becomes increasingly essential.</p>\n<p>An FPGA is significantly more adaptable than a hard-wired ASIC implementation, allowing users to alter the hardware <strong>without the need of rewriting the software that operates it</strong>.</p>\n<p><em>Besides, to execute complicated digital computations, modern FPGAs feature more logic gates and RAM blocks.</em></p>","level":"medium","meta_title":"What is Field Programmable Gate Array? Definition & Meaning | Crypto Wiki","meta_description":"Field Programmable Gate Array meaning: Field Programmable Gate Array - (FPGA) is a unified circuit that enables users or developers to adjust it after it has been manufactured.","meta_keywords":null,"language":"en","created_at":"2022-03-15T06:42:26.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-field-programmable-gate-array"},"prevSection":{"id":343,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Fiat?","slug":"what-is-fiat","section":"F","keyword":"Fiat","status":"published","definition":"a currency that is not supported by a tangible product, but rather by the government that created it, such as the Federal Reserve.","content":"<p>The term \"fiat\" is frequently used in the world of crypto. <strong>The most modern paper currencies are fiat currencies, including the euro, the U.S. dollar, and so on.</strong></p>\n<p>The term \"fiat\" refers to an authoritative or absolute order. In this respect, the government issues an order stating that the use of USD, GBP, INR, EUR, or any other international currency is legal and acceptable for the payment of both public and private obligations.</p>\n<h3>Fiat Money Supply Assortment</h3>\n<p>There are four main assortments of money supply categorized from the most to least liquid:</p>\n<ul>\n<li><strong>M1</strong> - Physical coins and notes moving in the country's economy, as well as money available for use through other means, such as debit cards and bank accounts.</li>\n<li><strong>M2</strong> - This contains everything in M1, but also savings accounts and linked funds, which may be turned into cash rather fast.</li>\n<li><strong>M3</strong> - This contains everything from M1 and M2, but also large investments and less liquid professional money market funds.</li>\n<li><strong>M4</strong> - contains all cash along with all bank accounts.</li>\n</ul>\n<p>In economics, several types of fiat money supply are implied as &ldquo;M&rsquo;s&rdquo;.</p>\n<h3>Fiat Currency or Cryptocurrency?</h3>\n<p>Firstly, <strong>cryptocurrency is decentralized</strong>, as opposed to fiat currency.</p>\n<p>This indicates that no central banking system or country has authorized, or has a voice in the currency's circulation or usage. Moreover, <strong>cryptocurrency is completely digital</strong> so it does not have actual banknotes or coins.&nbsp;</p>\n<p>Also, except for the situation in El Salvador, <strong>cryptocurrency is not legal money</strong> and cannot be used as a form of payment in several areas.</p>\n<p>A central authority, on the other hand, manages and supports fiat money. As a result, it is regarded <strong>legal currency for all business and personal transactions</strong>. Nevertheless, digital fiat currency has become the most used way to do business in a lot of places around the world.</p>\n<p>Even so, there are several governments that are now debating on launching a completely digital currency that could potentially be blockchain-based. These are referred to as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-central-bank-digital-currency/">CBDCs, or as central bank digital currencies. There is no secret that <a href=https://www.bitdegree.org/"/crypto/buy-bitcoin-btc/">Bitcoin was among the cryptocurrencies that inspired these particular currencies.</p>\n<p>However, <strong>CBDCs would differ from cryptocurrencies</strong> in that they are centralized and their value is determined by the government's financial regulation.</p>\n<p>Some people appear to be debating whether <strong>cryptocurrency is superior to fiat cash</strong>. Meanwhile, cryptocurrency is already being used in place of fiat cash in all of its applications. Starting with the fact that cryptocurrency can be used as a value store, means of trade, and unit of account.</p>\n<p>Furthermore, crypto and decentralized finance eliminate the need for costly and inefficient intermediaries like banks. Also, unlike it is with fiat currencies, the value of a cryptocurrency is not established by the government. It replaces archaic record-keeping, with an invariable and trustless ledger accessible to all users.</p>\n<p>However, <strong>a lot of cryptocurrencies have their drawbacks</strong> surrounding transaction speed and high energy usage. Though modern technology is quickly evolving to solve these issues and develop a system of finance that is fully superior to fiat.</p>\n<h3>The Fiat Money System</h3>\n<p>To conclude, fiat money is created and circulated by governments' balance, treasury, and central bank systems. Fiat money is not supported by gold or silver, but rather by the governments that issue and distribute it.&nbsp;</p>\n<p>This can be risky since governments have a habit of creating excessive amounts of money to boost their economy, leading to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-inflation/">inflation. Fiat money empowers governments to enact policies aimed at controlling supply, liquidity, and interest rates.</p>\n<p>Besides, if individuals lack confidence in a country's currency, the money loses its worth. This is not the same as a currency backed by gold, which has an inherent value due to the demand for gold in jewelry and ornamentation.</p>","level":"hard","meta_title":"What is Fiat? Definition & Meaning | Crypto Wiki","meta_description":"Fiat meaning: Fiat - money is a currency that is not supported by a tangible product, but rather by the government that created it, such as the Federal Reserve.","meta_keywords":null,"language":"en","created_at":"2022-03-15T06:25:29.000000Z","updated_at":"2022-09-27T08:09:33.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-fiat"},"currentChapter":"F","currentSection":"what-is-fiat-pegged-cryptocurrency","chapterTitle":"F","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-fiat-pegged-cryptocurrency","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">