cryptocurrencies, which must use a single copy of the same database shared among all partakers.</p>\n<p>Furthermore, on-ledger currencies are usually arranged on the basis of the supply, public or private nature of the database, the consensus technique employed, the ecosystem, the extent of utilization, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-liquidity/">liquidity, the emission rate, wallet support, and other qualities.</p>\n<p>As a result of the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-open-source/">open-source nature of blockchain technology, on-ledger currency can be <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fork-blockchain/">forked, and it is easy to use it to build a new on-ledger currency with adjusted features.</p>\n<p><a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin is the first and the most important illustration of an on-ledger currency, despite the fact that there are many more of these types of currencies nowadays. 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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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One?","featured_image_id":11310,"status":"published","chapter_id":7,"language":"en","order":3,"modified_content":null,"preview_url":"https://www.bitdegree.org/crypto/learn/ico-vs-ido","featured_image":{"id":11310,"uuid":"315e8a2b-93a1-4870-be48-a2a09d801663","public_url":"https://assets.bitdegree.org/crypto/storage/optimized/ico-vs-ido-featured-image.jpg","path":"crypto/storage/optimized/ico-vs-ido-featured-image.jpg","original_path":"crypto/storage/original/ico-vs-ido-featured-image.jpg","name":"ico-vs-ido-featured-image.jpg","original_name":"ico-vs-ido-featured-image.jpg","title":null,"alt":null,"width":1024,"height":576,"disk":"spaces","status":"uploaded","readable_file_size":"64.39KB"},"youtube_video":null},{"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get 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":575,"original_id":null,"author_id":40,"translator_id":null,"title":"What does One Cancels the Other Order (OCO) mean?","slug":"what-does-one-cancels-the-other-order-oco-mean","section":"O","keyword":"One Cancels the Other Order (OCO)","status":"published","definition":"is a situation in which two crypto orders are put in parallel, with the condition that if one is approved, the other is canceled.","content":"<p>OCO is a scenario in which <strong>two crypto orders are placed at the same time</strong>&nbsp;with the condition that if one is approved, another will be canceled. Similar to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-limit-order/">limit and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-stop-loss-order/">stop-loss orders, an OCO order is a sort of <strong>conditional order</strong>, in which sell or purchase actions are automatically carried out when a trading price threshold is met or surpassed. One order is immediately canceled when the stop or limit price is reached while the other order is fulfilled. Besides, on the majority of the trading platforms, several conditional orders can be placed.</p>\n<p>An OCO order enables traders to function efficiently in a dynamic market. They are able to be utilized to <strong>define a range that increased earnings while reducing losses</strong>. If a trader is attempting to trade <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> during a particularly volatile period, they can put two orders, one to sell at an anticipated high price and one to reduce losses if the price falls below a specified threshold.&nbsp;</p>\n<p>For example, if Bitcoin is now priced at <strong>$18,000,</strong> a user can put a high sell order at $19,000 and a stop-loss order at <strong>$17,000</strong> if the market goes in the other way. The same can be said for buy orders.</p>\n<p>However, users must acknowledge the fact that OCO orders need skillful implementation, as well as a very good knowledge of the trading techniques and the market overall.</p>\n<p>Another example would be if an investor owns 1,000 shares of a volatile stock trading at $10 per share. The investor believes that this stock will fluctuate in a broad range in the near future and has set a <strong>price objective of $13</strong>. Though they do not wish to lose more than $2 per share in order to manage the risk. Therefore, the investor can execute an OCO order, which would include a stop-loss order to sell 1,000 shares at $8 and a simultaneous limit order to sell 1,000 shares at $13, whichever comes first.</p>\n<p>Note that an OCO usually has <strong>one stop-loss order and one</strong> limit order. Limit orders are utilized to purchase or sell shares of an asset when a particular limit is attained on the market.&nbsp;</p>\n<p>Stop orders are also used to <strong>set limitations but in the other way</strong>. Their execution can be done in two ways &ndash; selling an asset if it begins to fall in order to stop losses, or purchasing an asset if it <strong>begins to rise</strong> in order to profit from a run.</p>","level":"medium","meta_title":"What does One Cancels the Other Order (OCO) mean? Definition & Meaning | Crypto Wiki","meta_description":"One Cancels the Other Order (OCO) meaning: One Cancels the Other Order (OCO) - is a situation in which two crypto orders are put in parallel, with the condition that if one is approved, the other is canceled.","meta_keywords":null,"language":"en","created_at":"2022-03-24T14:19:48.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-does-one-cancels-the-other-order-oco-mean"},"prevSection":{"id":572,"original_id":null,"author_id":41,"translator_id":null,"title":"What is On-Chain Governance?","slug":"what-is-on-chain-governance","section":"O","keyword":"On-Chain Governance","status":"published","definition":"a decentralized framework used to organize change the underlying protocol of a blockchain network.","content":"<p><strong>On-chain governance</strong> is a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralized framework that allows the users of a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain network to vote on any <strong>updates</strong> or improvements of the underlying <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-protocol/">protocol. Rather than relying on a centralized authority, many blockchains have delegated communities that manage the processes of protocol enhancements and fixes.</p>\n<p>Blockchain governance is responsible for making two types of decisions:</p>\n<ul>\n<li><strong>The underlying rules of the protocol in the code</strong>;</li>\n<li>The economic network incentive system.</li>\n</ul>\n<p>The process of governing a blockchain is complicated due to its decentralized structure. On-chain governance is frequently used in distributed <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cloud/">cloud-based systems to meet the agility needs and guarantee that the resources are appropriately allocated.</p>\n<p>DFINITY networks use <strong>proprietary AI systems</strong> alongside on-chain governance principles to distribute computing power throughout its network of companies and applications that connect to the same cloud architecture.</p>\n<p>Digital currencies like Tezos (XTZ) or Decred (DCR) apply on-chain governance by allowing the user base to vote on the vision of the platform, as well as make changes to the protocol that can improve user and developer experience.</p>\n<p>On-chain governance is one of the cornerstones of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-autonomous-organizations-dao/">decentralized autonomous organizations (DAOs)</strong></a>. DAOs act as <strong>community-run platforms</strong>. Members hold <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-governance-token/">governance tokens</strong></a> that they can use to decide on the rules of the protocol and have a direct impact on the development of the product.</p>\n<p>Some cryptocurrencies, like <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a>, use <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-off-chain-governance/">off-chain governance</strong></a> methods, which do not provide the same level of flexibility for investors that on-chain governance offers.</p>\n<p>In on-chain governance, three mechanisms are in play &ndash; <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-consensus/">consensus, <strong>incentive</strong>, and information.</p>\n<h3>Consensus</h3>\n<p>Consensus means that the members of the network can directly vote based on the principles of democracy. All decisions, updates, and changes are made on the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-distributed-ledger/">distributed ledger</strong></a> protocol. By voting, users can implement improvements to the blockchain system without an intermediary.</p>\n<h3>Incentive</h3>\n<p>Following the principles of <strong>incentive</strong>, users and developers can promote changes that may positively affect the performance of the protocol for their sake but negatively impact others. Such changes can include reduced transaction costs. Miners can suggest changes that may increase the block rewards they receive for their job.</p>\n<p>Incentives may be favorable only to the parties suggesting the changes and can cause issues to the network in the long run.</p>\n<h3>Information</h3>\n<p>Information provided in on-chain governance systems must maintain transparency. Some of the advantages to on-chain governance are:</p>\n<ul>\n<li><strong>Effective decision-making</strong> thanks to decentralization. No one person has more power over the network than the rest;</li>\n<li>On-chain governance offers more transparency as all network users have access to the code and can see what changes are being made;</li>\n<li>On-chain governance helps prevent <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hard-fork-blockchain/">hard forks</strong></a>, which may occur if the interests of some stakeholders clash with other organizations.</li>\n</ul>\n<p>Users that hold governance tokens and are part of the protocol management process may receive certain incentives to encourage further participation.</p>","level":"medium","meta_title":"What is On-Chain Governance? Definition & Meaning | Crypto Wiki","meta_description":"On-Chain Governance meaning: On-Chain Governance - a decentralized framework used to organize change the underlying protocol of a blockchain network.","meta_keywords":null,"language":"en","created_at":"2022-03-24T13:24:41.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-on-chain-governance"},"currentChapter":"O","currentSection":"what-is-on-ledger-currency","chapterTitle":"O","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-on-ledger-currency","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter O

What is On-Ledger Currency?

On-Ledger Currency MEANING:
On-Ledger Currency - is a type of currency that's based on blockchain technology.
Easy
1 minute

Let's find out On-Ledger Currency meaning, definition in crypto, what is On-Ledger Currency, and all other detailed facts.

An on-ledger currency is a blockchain-based currency. This is the base of all cryptocurrencies, which must use a single copy of the same database shared among all partakers.

Furthermore, on-ledger currencies are usually arranged on the basis of the supply, public or private nature of the database, the consensus technique employed, the ecosystem, the extent of utilization, liquidity, the emission rate, wallet support, and other qualities.

As a result of the open-source nature of blockchain technology, on-ledger currency can be forked, and it is easy to use it to build a new on-ledger currency with adjusted features.

Bitcoin is the first and the most important illustration of an on-ledger currency, despite the fact that there are many more of these types of currencies nowadays. An on-ledger currency is noteworthy because it is not feasible for one or a few individuals with considerable influence to adjust its parameters. This essentially indicates that an on-ledger currency has to be free from centralized management. 

Moreover, on-ledger currencies have the possibility to evolve into a superior choice to off-ledger currencies or even fiat. Typically they are impossible to counterfeit. On-ledger currencies are open, decentralized, accessible, and pseudo-anonymous. They require the continuous and incentivized provision of computational power to maintain form. Also, they are kept in digital wallets.
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