decentralized exchange (DEX)</strong></a> uses a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-time-weighted-automated-market-maker-twamm/">time-weighted average market maker (TWAMM)</strong></a> instead. TWAMMs enable traders to efficiently execute large orders while minimizing the price impact and maintaining low gas prices.</p>","level":"medium","meta_title":"What is Time-Weighted Average Price (TWAP)? Definition & Meaning | Crypto Wiki","meta_description":"Time-Weighted Average Price (TWAP) meaning: Time-Weighted Average Price (TWAP) - indicates the average price of an asset over a specified time period.","meta_keywords":null,"language":"en","created_at":"2022-04-12T07:27:07.000000Z","updated_at":"2023-02-14T08:26:20.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-time-weighted-average-price-twap"},"prevSection":{"id":930,"original_id":null,"author_id":40,"translator_id":null,"title":"What is TokenSets?","slug":"what-is-tokensets","section":"T","keyword":"TokenSets","status":"published","definition":"a Set Protocol-based platform for portfolio administration.","content":"<p><strong>TokenSets refer to a new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contract</a> platform</strong>. It emerged from the Set Protocol that enables the development and trading of baskets as tokenized assets. It doesn&rsquo;t need to write any code.</p>\n<p>Furthermore, TokenSets was created to be easily understandable and usable for everyone, even those that are completely new in the crypto and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">DeFi world. It allows <strong>automated <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-portfolio/">portfolio management</strong> of several crypto assets since it is a&nbsp;decentralized protocol.</p>\n<p>The founder of TokenSets, <strong>Inje Yoe</strong>, indicates that the Set Protocol is <em>&ldquo;smart enough to enter and exit out of positions at the right times based on market conditions, without the emotional risk of pouring hours of time starting at charts for buy and sell signals.&rdquo;</em></p>\n<p>If a person wishes to create a portfolio on TokenSets, they must go through a three-step process. Firstly, a user has to <strong>sign up on TokenSets</strong>. Then, he/she has to <strong>add <a href=https://www.bitdegree.org/"/crypto/buy-ethereum-eth/">ETH to their account</strong>. You can purchase ETH on exchanges like <a href=https://www.bitdegree.org/"/crypto/goon/binance/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Binance</strong></a> or <a href=https://www.bitdegree.org/"/crypto/goon/bybit/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Bybit</strong></a> and then just transfer it to TokenSets. Lastly, they have to <strong>configure the parameters</strong> for a Set they decide to utilize.</p>\n<p>It is rather simple to configure because there are just a few elements that must be chosen by the user. Since TokenSets does all of the work, the individual is not required to put in a lot of work, as is the situation with many other apps.</p>\n<p>Users provide parameters for a Set, and <strong>the Set then trades, rebalances, and implements strategies to achieve the user's objectives</strong>. Besides, after creating a portfolio, a user is able to employ several options such as managing, selling, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-rebalancing/">rebalancing, and so on.</p>\n<p>Without the need to manage and rebalance portfolios themselves, Sets enable users to gain exposure to a basket of assets in one transaction. Comparable to ETFs, such as DIA, SPY, or QQQ, <strong>Sets give investors broad exposure to an asset class by investing in a single token</strong> (<em>rather than buying many individual assets</em>).</p>\n<p>The main advantages of TokenSets include:</p>\n<ul>\n<li>The ability to add or withdraw <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-liquidity/">liquidity as a means of generating fees in return for providing liquidity to traders.</li>\n<li>The ability to make your own Sets. You may use this to construct and distribute token portfolios.</li>\n<li>Exposure to a basket of tokens without owning all of them.</li>\n<li>With each trade, your portfolio is automatically rebalanced to preserve your preferred balance.</li>\n</ul>\n<p>With Sets, users simply have to specify their investment amount and then they are provided with the best method of investing their funds. Thus, TokenSets offers traders a simple way to invest using the most suitable cutting-edge trading strategies based on their needs.</p>","level":"medium","meta_title":"What is TokenSets? Definition & Meaning | Crypto Wiki","meta_description":"TokenSets meaning: TokenSets - a Set Protocol-based platform for portfolio administration.","meta_keywords":null,"language":"en","created_at":"2022-04-11T11:33:41.000000Z","updated_at":"2023-05-08T07:56:21.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-tokensets"},"currentChapter":"T","currentSection":"what-is-type-checking","chapterTitle":"T","readingLevel":"medium"},"url":"/crypto/learn/crypto-terms/what-is-type-checking","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Crypto Terms: Letter T

What is Type Checking?

Type Checking MEANING:
Type Checking - is a verification process in programming languages.
Medium
2 minutes

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

Type Checking is a process that establishes whether a program operation is compliant with the type declaration rules of the programming language

In most cases, type checking is done by a compiler. This compiler is able to check and verify whether all operations hold the pre-defined number of arguments and data types.

Type checking is categorized into two systems: static and dynamic.

Static Type Checking

Static type checking offers reliability, security, and saving time since it removes the need to run your program when type checking.

The main advantage of this category includes preliminary error detection. This means that you don’t have to run your program in order to detect said errors. Everything is done beforehand.

A compiler starts the type checking process which is done at compile time

Let’s take the C programming language as an example. In this case, you can run your program without declaring the variables within it. However, since you don’t have to declare the variables, the compiler won’t be able to complete its process and will display an error message. In turn, your program will remain static.

Dynamic Type Checking

Dynamic type checking only starts at either runtime or execution time. Therefore, it’s different from the static type checking which occurs at compile time. 

You can write programs without having to worry about having any crucial knowledge about types.

Let's have a look at one of the forms of type checking process:

  • Each variable, parameter, and function is assigned a data type;
  • Data types determine what kind of operations can be executed;
  • Type checking whether the operations are correct.

Unlike the static type checking, where type checking is always performed by the compiler, the dynamic type checking process varies by the programming language. For instance, PHP programming language doesn’t require a compiler while C programming language does.

Additionally, there are such programming languages where programmers are given the ability to take values at run time and associate them with arbitrary properties. Or, if the programming language allows, programmers can define new types to be used within their program algorithms.