play-to-earn video game Axie Infinity (AXS). It <strong>describes the practice when new Axie Infinity players, also referred to as scholars, seek out old players, sometimes referred to as managers, in order to borrow their free digital pets</strong>. The need for scholarships stems from the fact that in order to be able to play the game, the player needs to have three <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">non-fungible token (NFT)</strong></a> based digital pets.&nbsp;</p>\n<p>Axie Infinity (AXS) has similarities to the game that has taken the world by storm - Pok&eacute;mon Go. However, instead of collecting Pok&eacute;mons and entering duels, AXS players collect NFT digital pets. The players can receive rewards by participating in battle matches with their AXS pets.</p>\n<p>Currently, the game has over 2 million active users. It&rsquo;s extremely popular in the Philippines.</p>\n<p><strong>How does a scholarship work?</strong></p>\n<p>Managers lend their Axies to the new players so they can play the game and earn the in-game currency Smooth Love Potions (SLP) which can be traded directly for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fiat/">fiat money. Additionally, SLP allows players to breed their Axies which results in an increased number of them. These digital pets can also be sold to other players for profit.</p>\n<p>In order to receive a scholarship, new players have to find a guild that is participating in this program. Generally, every guild has its own criteria for choosing scholars. The next step is getting in touch with the guild&rsquo;s managers to show interest and motivation.&nbsp;</p>\n<p><strong>Whatever scholars earn while in possession of the manager&rsquo;s Axies is shared between both parties</strong>. The most popular ways of dividing earnings are 50/50, 60/40, or 70/30. The percentage is usually decided beforehand.&nbsp;</p>\n<p>Another reason why established players participate in this program is to make use of the large amounts of Axies that they&rsquo;re not able to use anyway. By providing scholarships to newer players they&rsquo;re able to bring into play every Axie that they&rsquo;re not using and earn passive income.</p>","level":"medium","meta_title":"What is Scholarship/Scholar? 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/n

Security tokens are provided by a specific security token service. They can be issued on a blockchain that&rsquo;s either for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-public-blockchain/">public or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-private-blockchain/">private use, also known as permissionless and permissioned blockchains.</p>\n<p>It's important to note that <strong>STOs and <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-initial-coin-offering-ico/">ICOs should never be mixed up</strong>. That is because ICOs, unlike STOs, are genuine coins of a cryptocurrency that is completely digital.</p>","level":"easy","meta_title":"What is Security Token Offering? 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The use of software libraries helps reduce the time spent developing new code and find shortcuts to simplify the programming process.</p>\n<p>There are several different types of software libraries that focus on storing different elements of code. The purpose of a software library may depend on whether it&rsquo;s dedicated to the <strong>front or back development</strong>, used for data manipulation, or is required for more general programming exercises.</p>\n<p>The libraries vary depending on the programming language stored. CSS libraries store code related to design and web development, while <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-javascript/">JavaScript libraries contain &ldquo;cheat codes&rdquo; that make the code more efficient.</p>\n<p>All computer code that programmers write is converted to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-binary-code/">binary (lines of ones and zeros) once it&rsquo;s run on a machine. The processes of converting a high-level language (HLL) code into a binary file that a computer can run are complex and very fast.</p>\n<p>The HLL source code is compiled into <strong>assembly source code</strong>. The compilations are assigned unique symbols or relocation information.</p>\n<p>The assembly code is then converted into binary object files according to the relocation information assignments. The linker reads the relocation information and <strong>replaces the symbols with binary code</strong>, creating an executable file that a computer can read and process. This process of program interaction applies to the simplest lines of code.</p>\n<p>Libraries play an essential role in program development. Some, such as code generation, dynamic, and <strong>static libraries</strong>, are visible to the programmer working on the code. Such system libraries are known as shared since they can be used by several programs simultaneously.</p>\n<p>Code generation libraries are used to read external and internal configurations that are forwarded to the compiler. <strong>Dynamic libraries</strong>, also known as runtime libraries, are used during the processes of memory allocation and the program&rsquo;s interaction with the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-operating-system-os/">operational system (OS)</strong></a>.</p>\n<p>Static libraries, known as <strong>compile-time</strong>, are used during the compilation process to detect relocation information and convert it to executable files.</p>\n<h2>Blockchain and Software Libraries</h2>\n<p>Software libraries play an essential role in the development of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain-based systems. The <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum blockchain</strong></a> is perhaps one of the most popular bases for creating blockchain projects. Various token standards, such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-20/">ERC-20 or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-erc-721/">ERC-721, are built on Ethereum and rely on libraries such as web3.js and ethereum.js to simplify the integration process.</p>\n<p>The process of programming a blockchain from scratch is expensive, <strong>complicated</strong>, and requires a lot of time. Therefore, blockchain software libraries are used to optimize the process and code more efficiently.</p>\n<p>The software libraries used in the Ethereum ecosystem employ the unique mechanics of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a>. These self-executing programs are used to simplify the development of blockchain-based solutions and promote the overall <strong>reusability of code</strong> stored in software libraries.</p>","level":"medium","meta_title":"What is Software Library? Definition & Meaning | Crypto Wiki","meta_description":"Software Library meaning: Software Library - a collection of reusable code that can be applied to other program development projects.","meta_keywords":null,"language":"en","created_at":"2022-03-30T14:12:11.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-software-library"},"currentChapter":"S","currentSection":"what-is-scholarship-scholar","chapterTitle":"S","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-scholarship-scholar","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">

Handbook Cover Page
Crypto Terms: Letter S

What is Scholarship/Scholar?

Scholarship/Scholar MEANING:
Scholarship/Scholar - A Scholarship is established when managers earn passive income by allowing new players, also known as scholars, to borrow Axies (digital pets) within the Axie Infinity video game.
Medium
2 minutes

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

A Scholarship is a term put forward by the top-ranking blockchain play-to-earn video game Axie Infinity (AXS). It describes the practice when new Axie Infinity players, also referred to as scholars, seek out old players, sometimes referred to as managers, in order to borrow their free digital pets. The need for scholarships stems from the fact that in order to be able to play the game, the player needs to have three non-fungible token (NFT) based digital pets. 

Axie Infinity (AXS) has similarities to the game that has taken the world by storm - Pokémon Go. However, instead of collecting Pokémons and entering duels, AXS players collect NFT digital pets. The players can receive rewards by participating in battle matches with their AXS pets.

Currently, the game has over 2 million active users. It’s extremely popular in the Philippines.

How does a scholarship work?

Managers lend their Axies to the new players so they can play the game and earn the in-game currency Smooth Love Potions (SLP) which can be traded directly for fiat money. Additionally, SLP allows players to breed their Axies which results in an increased number of them. These digital pets can also be sold to other players for profit.

In order to receive a scholarship, new players have to find a guild that is participating in this program. Generally, every guild has its own criteria for choosing scholars. The next step is getting in touch with the guild’s managers to show interest and motivation. 

Whatever scholars earn while in possession of the manager’s Axies is shared between both parties. The most popular ways of dividing earnings are 50/50, 60/40, or 70/30. The percentage is usually decided beforehand. 

Another reason why established players participate in this program is to make use of the large amounts of Axies that they’re not able to use anyway. By providing scholarships to newer players they’re able to bring into play every Axie that they’re not using and earn passive income.
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