NFT platform operated by Gemini LLC (a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">cryptocurrency exchange</strong></a>). The exchange platform and the Nifty Gateway are owned by the Winklevoss twins.</p>\n<p>Nifty Gateway combines <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">crypto with collectible artworks and music to create high-value tradable assets. This empowers some of the top artists and musicians in the world by allowing them to develop and sell NFTs.</p>\n<p>Non-fungible tokens (NFTs) that you can sell and buy through Nifty Gateway are known as <strong>Nifties</strong>. Essentially, NFTs are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">digital tokens</strong></a> recorded on a blockchain. They fall into the category of cryptocurrencies but they are not like the traditional ones. <em>Why? </em>Because NFTs can come in any form, including art, <strong>games</strong>, music, and so on, while traditional ones have the same fixed form.</p>\n<p>Besides, if you already own an NFT, you can use <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-metamask/">MetaMask to transfer it to the Nifty Gateway Omnibus Wallet. Besides, you can apply on their website to become a Nifty creator and <strong>sell your own artwork</strong> if you want. Though note that you&rsquo;ll need to fill out a questionnaire and complete an interview to be actually accepted.</p>","level":"easy","meta_title":"What is Nifty Gateway? Definition & Meaning | Crypto Wiki","meta_description":"Nifty Gateway meaning: Nifty Gateway - an exclusive NFT platform owned by a cryptocurrency exchange Gemini LLC.","meta_keywords":null,"language":"en","created_at":"2022-03-23T10:01:06.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-nifty-gateway"},"prevSection":{"id":1006,"original_id":null,"author_id":42,"translator_id":null,"title":"What is Merged Mining?","slug":"what-is-merged-mining","section":"M","keyword":"Merged Mining","status":"published","definition":"a process when two or more cryptocurrencies are mined at the same time.","content":"<p>Merged mining is the process of simultaneously mining two or more crypto assets. Besides, during the process of merged mining, overall mining performance stays unaffected.</p>\n<p><strong>Auxiliary Proof-of-Work (AuxPoW) </strong>is a consensus mechanism used in merged mining. It allows a miner to leverage their processing resources to <strong>mine <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">blocks on numerous <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchains at the same time. </strong>AuxPoW is based on the premise that one chain can take advantage of work done on another chain.</p>\n<p>The <strong>parent blockchain</strong> is the one that supplies the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">Proof-of-Work. The <strong>auxiliary blockchain</strong>, on the other hand, is the one that acknowledges it as valid.</p>\n<p>To accomplish merged mining,<strong> the same algorithm </strong>must be used by all involved assets. Ethereum, for example, employs <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-keccak/">KECCAK-256. This means that nearly any other asset that uses KECCAK-256 can be mined alongside Ethereum. Of course, the technical implementations must be done correctly.</p>\n<p>It should be noted that <strong>the parent blockchain is not really affected</strong> during merged mining. This is the case because it doesn&rsquo;t require any technical changes. However, the auxiliary blockchain is affected. It must be built to properly receive and accept the parent chain's work. Besides, note that a <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hard-fork-blockchain/">hard fork</a> </strong>is usually required to add or remove merged mining support.</p>\n<p>Theoretically, merged mining could be a way for a small blockchain to boost its security. The chain would do that by leveraging Ethereum's (or any other larger blockchain's) <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hash-power-hashrate/">hash power</a>.</strong> Besides, if a sufficient amount of miners agree to use merged mining, the likelihood of <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-51-attack/">51% attacks</a>&nbsp;</strong>would be reduced.</p>\n<p>Though many developers claim that<strong> a false sense of security is evoked by merged mining. </strong>According to them, this is the case due to the fact that a large mining pool, which is not so popular on, for example, Ethereum, might achieve 51% hashing power on a smaller chain very easily.&nbsp;</p>\n<p>However, to contradict this idea it's argued that more miners can be attracted if the reward for mining an auxiliary chain is sufficient. This would result in lowered centralization and increased security.</p>\n<p>Aside from that, other people argue that merged mining <strong>reduces security. </strong>This happens because it eliminates economic losses from the process. Bitcoin miners, for example, can avoid jeopardizing their <strong><a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block-reward/">block rewards</a> </strong>while employing their computing power on a smaller chain. Thus, miners on the smaller chain have fewer reasons to act fairly because they don't risk losing their rewards.</p>","level":"medium","meta_title":"What is Merged Mining? Definition & Meaning | Crypto Wiki","meta_description":"Merged Mining meaning: Merged Mining - a process when two or more cryptocurrencies are mined at the same time.","meta_keywords":null,"language":"en","created_at":"2022-05-19T11:33:13.000000Z","updated_at":"2022-06-07T11:49:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-merged-mining"},"currentChapter":"M","currentSection":"what-is-metadata","chapterTitle":"M","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-metadata","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter M

What is Metadata?

Metadata MEANING:
Metadata - a type of data that contains information about another type of data (hence the "meta" prefix). For example, while the fact that you've sent your friend $10 in ETH would be considered data, the date and time when you performed the transaction would be metadata.
Easy
1 minute

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

Essentially, metadata is data about data. Metadata is abstract information about the underlying data. It's not subject to regulation. Data, on the other hand, is the actual information that is susceptible to regulatory examination.
Prev Section
All Crypto Terms
Next Section