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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 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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":857,"original_id":null,"author_id":43,"translator_id":null,"title":"What does Winding Up mean?","slug":"what-does-winding-up-mean","section":"W","keyword":"Winding Up","status":"published","definition":"When someone says they’re Winding Up, it means that they’re wrapping crypto tokens for the purpose of finding the best yield.","content":"<p>The term <strong>Winding Up</strong> is used to describe <strong>the process of searching for the best yield by wrapping a cryptocurrency through different projects</strong>. It&rsquo;s used within the crypto sector, in regards to <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">decentralized finance (DeFi)</strong></a> platforms.&nbsp;</p>\n<p>In order to understand this term well, you must know the definition of wrapped tokens. While <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum originated the wrapped tokens, there have been many alternatives emerging such as the wrapped Bitcoin (wBTC).</p>\n<p>A wrapped token is a type of token that represents a cryptocurrency that&rsquo;s native to another blockchain. In essence, it is a token that has been pegged to the value of another cryptocurrency. When it comes to DeFi platforms, wrapped tokens offer interoperability.</p>\n<p>In order to receive the highest profit, token holders must go through certain processes.&nbsp;</p>\n<p>Let&rsquo;s take the most popular cryptocurrency, <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin as an example. Let&rsquo;s say you hold some wrapped Bitcoin and would like to receive some Interest Bearing Bitcoin (ibBTC). In this case, you would have to deposit your wrapped BTC on a specific DEX in order to receive an LP token. The latter will allow you to mint ibBTC.</p>","level":"easy","meta_title":"What does Winding Up mean? Definition & Meaning | Crypto Wiki","meta_description":"Winding Up meaning: Winding Up - When someone says they’re Winding Up, it means that they’re wrapping crypto tokens for the purpose of finding the best yield.","meta_keywords":null,"language":"en","created_at":"2022-04-05T13:51:32.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-does-winding-up-mean"},"prevSection":{"id":853,"original_id":null,"author_id":43,"translator_id":null,"title":"What is WebSocket?","slug":"what-is-websocket","section":"W","keyword":"WebSocket","status":"published","definition":"is a communication protocol that enables connections between a client and a server through a handshake.","content":"<p><strong>WebSocket</strong> is a term used to describe <strong>a communication protocol</strong>. <strong>It allows a client and a server to connect and send data to each other</strong>. When the server receives and accepts an HTTP request from the client, a session is established. This process is also known as the handshake.&nbsp;</p>\n<p>Once the session has been established between the client and the server, both participants are able to send and receive arbitrary data which means that data is transmitted in both directions. The server acknowledges the client&rsquo;s messages when it sends a response back to the client.</p>\n<p>A WebSocket can also be defined as an open connection between the client and the server.&nbsp;</p>\n<p>In order to use a WebSocket, you need to open up a port in your firewall and set up your web server.</p>\n<p>The HTML WebSocket API can be used to transfer large amounts of data between the client and the server while maintaining an open connection throughout the entire process.&nbsp;</p>\n<p>One of the main advantages of a WebSocket is that its connections have the ability to maintain themselves indefinitely, unlike HTTP. Additionally, web applications that use WebSockets have been known to minimize <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-network-latency/">latency.

/n

WebSockets are <strong>an ideal option in regards to the transmission of large amounts of data</strong>. That is because any amount of data can be easily transmitted from the server to the client without the server having to receive another request for more data from the client. Also, it ensures that no data is lost during the transmission process.&nbsp;</p>\n<p>There are many use cases for a WebSocket such as real-time web pages, real-time social feeds, real-time gaming with multiple players, messengers and chat rooms, live video streaming, and many others.</p>\n<p>Let&rsquo;s have a deeper look into some of these examples:</p>\n<ul>\n<li><strong>Real-time web applications</strong>. When the client needs to constantly receive updates regarding a specific situation, WebSockets are especially useful. For example, trading platforms utilize this communications protocol to provide the latest price movements;</li>\n<li><strong>Real-time gaming applications</strong>. Gaming applications can take advantage of WebSockets by allowing real-time connections. Since the connection between the client and the server is stable and open, data can be transmitted without the need to make another connection to receive said data. This way, the user interface (UI) does not need to be refreshed;</li>\n<li><strong>Messengers and chat rooms applications</strong>. In this case, the WebSocket is utilized to establish a connection and use it to send multiple messages to multiple users.</li>\n</ul>","level":"medium","meta_title":"What is WebSocket? Definition & Meaning | Crypto Wiki","meta_description":"WebSocket meaning: WebSocket - is a communication protocol that enables connections between a client and a server through a handshake.","meta_keywords":null,"language":"en","created_at":"2022-04-05T13:38:47.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-websocket"},"currentChapter":"W","currentSection":"what-is-whitepaper","chapterTitle":"W","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-whitepaper","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">

Crypto Terms: Letter W

What is Whitepaper?

Whitepaper MEANING:
Whitepaper - summarizes the technology of a crypto project as well as what it hopes to achieve.
Easy
1 minute

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

When it comes to the crypto sector, a Whitepaper is a type of document that outlines the technology behind the cryptocurrency project and highlights its main goals

One of the most well-known whitepapers in the world of crypto is Bitcoin’s whitepaper which was presented in 2008. Its main attributes were a decentralized platform, a peer-to-peer payment system run on an online network, and irreversible transactions.

It’s a requirement for any company that wants its project to be taken seriously by investors. It introduces the concept of the project as well as the elements that make it stand out among the many other startup crypto projects. 

Whitepapers are similar to litepapers, except the latter is much shorter in length. It can be considered a sort of summary of the whitepaper. 

What is in a Whitepaper?

Whitepapers rely on facts to appeal to investors. The technology behind the crypto project is often explained by the implementation of research findings, statistics, and diagrams.