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All payments made with <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies such as ETH, MATIC, <strong>DAI</strong>, USDC, and others are handled instantly thanks to the underlying <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain network</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</strong></a> technology.</p>\n<p>Automated player payouts are a <strong>great solution for the gaming industry</strong>, especially for the e-sport community, which is one of the fastest-growing communities that exceed billions of dollars in revenue. E-sports competitions attract large sponsorships from <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Venture_capital/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong><strong>VC firms</strong></strong></a>, <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Fortune_500/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Fortune 500 organizations</strong></a>, and major media networks due to their increasing demands and expanding audience globally.</p>\n<p>However, e-sports tournament organizers are known to hold off on paying players for weeks or even months. It's understandable to some extent, given that organizers must personally distribute rewards to all winners.&nbsp;</p>\n<p>Traditional transaction models such as <strong>wire transfers</strong>, ACH transfers, paper checks, and so forth are used by the majority of organizers. These approaches are costly, reliant <strong>on human resources</strong>, and painfully slow, resulting in payment delays.</p>\n<p>Player payouts come to the rescue in this case. Tournament organizers can automate the process of distributing rewards and transferring them immediately to the winner's <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">crypto wallet</strong></a> by using <strong>smart contracts</strong> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralized-exchange-dex/">decentralized exchanges (DEXs)</strong></a>.&nbsp;</p>\n<p>Not only does this allows both parties to avoid paying excessive <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-transaction-fee/">transaction fees</strong></a> to banking institutions, but it also encourages more organizers and players to join the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-play-to-earn-play2earn/">Play2Earn gaming revolution</strong></a>.</p>\n<h2>How Do Player Payouts Work?</h2>\n<p>If we&rsquo;re talking about the e-sports industry, each tournament contains a <strong>prize pool of money </strong>that is divided among a limited number of winners. Organizers can tailor and control payments based on each player's performance in the competition using smart contracts stored on a blockchain network. In addition, smart contracts make a tournament's structure and payout schedule more transparent.</p>\n<p>Smart contracts are <strong>electronic contracts that perform transactions automatically based on pre-defined parameters</strong>. Consider the following scenario to see how an <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum-based smart contract for an e-sports tournament functions. <em>Note that tournament contracts deployed on the Polygon network, or any other smart contract ecosystem, would go through the same procedure.</em></p>\n<p>The Ethereum blockchain is powered by a network of computers (known as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-node/">nodes) that constantly <strong>confirm and log all network transactions</strong>. The payout distribution is pre-configured by tournament organizers, who choose how many participants will be paid out and what percentage of the contract funds each place will receive. The Ethereum blockchain is then used to deploy the tournament smart contract.</p>\n<p>The prize pool is usually made up of player entry fees and/or sponsor donations that are sent in and held in escrow while the tournament is taking place. The organizers only need <strong>a little amount of ETH to start the smart contract-powered player payout</strong> procedure after the tournament is finished.</p>\n<p>The defined transactions are processed and documented on the underlying blockchain as the players achieve the ranking conditions. Since there is no third party involved, tournament winners get paid almost promptly and for a small fee.</p>","level":"medium","meta_title":"What is Player Payout? 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There are suspicions that Paul Le Roux could be <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/who-is-satoshi-nakamoto/">Satoshi Nakamoto</strong></a>, the <strong>anonymous</strong> creator of <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin (BTC)</strong></a> and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain technology</strong></a>.</p>\n<p>Paul Le Roux was born in Zimbabwe in 1972 and holds Zimbabwean, Australian, and South African citizenship. He became interested in computer technology as a teen and after learning programming started working in the UK, US, and Australia.</p>\n<p>Le Roux created <strong>E4M (Encryption for the Masses)</strong>, encryption software used to provide users with more privacy. One of the core goals of Le Roux&rsquo;s project was that individuals must have as much privacy from the government as possible. He worked on numerous encryption projects around the world.</p>\n<p>Le Roux was behind a number of websites used to access prescription medicine under questionable circumstances. He launched a company RX Limited which made profits in the millions via the <strong>sales on the websites</strong>. He expanded his business to other industries, such as land leasing in Zimbabwe.</p>\n<p>In The Philippines, Le Roux oversaw a number of business ventures via shell companies tied to criminal activities, such as arms dealing, money laundering, and gold smuggling.</p>\n<p>While leading a cartel in Manila, Le Roux was approached by the US Drug Enforcement Administration (DEA) to work as an informant. He was later <strong>investigated and arrested</strong> for a number of charges after an undercover operation in Liberia. In 2020, he was sentenced to 25 years in the US on numerous charges.</p>\n<p>Paul Le Roux was named as a potential candidate to be Satoshi Nakamoto based on numerous pieces of evidence. One of the main arguments for this theory is that Le Roux&rsquo;s sentence occurred around the same time as the final posts shared by Nakamoto online.</p>","level":"medium","meta_title":"Who is Paul Le Roux? Definition & Meaning | Crypto Wiki","meta_description":"Paul Le Roux meaning: Paul Le Roux - programmer and former criminal cartel boss, one of the suspects to be Satoshi Nakamoto.","meta_keywords":null,"language":"en","created_at":"2022-03-25T07:20:24.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/who-is-paul-le-roux"},"currentChapter":"P","currentSection":"what-is-peg","chapterTitle":"P","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-peg","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Handbook Cover Page
Crypto Terms: Letter P

What is Peg?

Peg MEANING:
Peg - a specified price used to determine the exchange rate between two assets; in crypto – a fixed asset price tied to a token.
Easy
1 minute

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

In traditional markets, a peg is the specified price that traders use to set the exchange rate between two assets. A peg is often used to determine the fixed exchange rate for trading two foreign currencies.

The opposite of peg is floating, which refers to currencies that do not have a hard price target and follow monetary policies with more lenience.

Peg can be used as both an economic and political tool as it encourages trade relationships between different nations and helps stabilize macroeconomic activities.

In crypto, a peg is the fixed price that a cryptocurrency token tries to maintain. Pegged tokens are known as stablecoins. Usually, the value of crypto assets is pegged to fiat currency.

Stablecoins like Tether (USDT), USD Coin (USDC), DAI, and FRAX are pegged to the value of $1 per coin. The value of the dollar is considered to be soft-pegged to the consumer price index (CPI).

The pegged value of a stablecoin is maintained by contracting or diluting its total supply. Stablecoin can be minted or burned until it reaches the value of the desired peg. The minted tokens are collaterally backed.

The value of algorithmic stablecoins is maintained automatically by employing smart contracts to reduce or increase the supply of the tokens as needed.
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