smart contracts</strong></a>, which he first defined as \"highly advanced\" contract law and e-commerce protocol standards involving many parties via the internet. 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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":541,"original_id":null,"author_id":40,"translator_id":null,"title":"What are Nominators?","slug":"what-are-nominators","section":"N","keyword":"Nominators","status":"published","definition":"are one of the two major parties participating in a blockchain network that employs the nominated Proof-of-Stake (NPoS) consensus mechanism.","content":"<p>A nominator is <strong>one of the two major actors </strong>who are involved in a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-blockchain/">blockchain network</strong></a> (the other being a <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-validator/">validator) that uses the nominated Proof-of-Stake (NPoS) consensus algorithm. To be exact, NPoS is the process of <strong>picking validators to enable them to take place in the consensus protocol</strong>. Besides, nominated Proof-of-Stake is a type of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-stake-pos/">Proof-of-Stake (PoS)</strong></a> and it is utilized in blockchains such as Polkadot, Kusama, or Edgeware.</p>\n<p>In initial PoS networks, the <strong>capability of an entity</strong> that is validating or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-mining/">mining network transactions relies on the number of network <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-token/">tokens they possess. Meaning that the bigger amount of tokens of that network is kept by the miner or validator, the more mining capacity they have.</p>\n<p>This feature is also used in other <strong>similar decision-making processes</strong>, including <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-governance/">governance functions when validators vote on suggestions for future upgrades of the network.</p>\n<p>However, in the majority of the ecosystems, as some integrations of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-are-decentralized-autonomous-organizations-dao/">decentralized autonomous organizations (DAOs)</strong></a> have showcased, not all validators or miners utilize their voting power in each decision-making process. This might be the case since they are <strong>unable or unwilling to commit the time or money</strong> necessary to examine, research, or grasp the frequently complex technical aspects essential for some judgments.</p>\n<p>A proposed solution for that was NPoS, a form of PoS that involves the process of nominating validators who are permitted to participate in the consensus procedure. <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-substrate/">Substrate-based blockchains</strong></a> are the most well-known users of NPoS.</p>\n<p>The most important roles in NPoS are played by <strong>validators and nominators</strong>. All validators in the active set receive the same number of rewards. The validator's commission charge is subtracted from these benefits. The <strong>remaining rewards are awarded proportionally to nominators</strong> based on their investment.</p>\n<p>Since incentives are allocated equally to validators based on their total stake, nominators stand to receive more rewards for nominating less-established validators with lesser stakes supporting them. This encourages nominators to search for a more varied selection of validators rather than nominating the same ones for each batch.</p>\n<p>Those who do not follow the rules, on the other hand, are disciplined, <strong>diminishing the benefits for nominators</strong>. This motivates nominators to undertake thorough research on validators in order to find those who are well-behaved.</p>\n<p>NPoS are able to upgrade the decentralization of blockchain networks this way, by increasing the decision-making capacity, as well as maintaining equality through rationalized expression.</p>\n<p>Likewise, validators establish and safeguard the network while also managing the services it provides through the generation of new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-block/">blocks and the validation of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-parachain/">parachain blocks. They are continually operational, employing the network's native tokens to sustain them as validators and to incentivize their continued adherence to the protocol's regulations.</p>\n<p>Even though <strong>failure to follow the rules</strong> penalizes them with \"slashing,\" following the rules rewards them with a share of the fees collected by using the network's services.</p>\n<p>Nonetheless, in NPoS, validators have to be chosen to take part in every active set, which is a particular period of time that usually becomes lengthy at latter block heights. So, nominators can also be considered token owners but they are <strong>not actively taking part in consensus</strong>. Rather than that, they utilize their economic support to nominate the validators that they selected to be assigned for active slots.</p>","level":"hard","meta_title":"What are Nominators? Definition & Meaning | Crypto Wiki","meta_description":"Nominators meaning: Nominators - are one of the two major parties participating in a blockchain network that employs the nominated Proof-of-Stake (NPoS) consensus mechanism.","meta_keywords":null,"language":"en","created_at":"2022-03-23T13:41:08.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-are-nominators"},"prevSection":{"id":538,"original_id":null,"author_id":40,"translator_id":null,"title":"What is Network-Enhanced Virtual Machine (NEVM)?","slug":"what-is-network-enhanced-virtual-machine-nevm","section":"N","keyword":"Network-Enhanced Virtual Machine (NEVM)","status":"published","definition":"The NEVM (Network-Enhanced Virtual Machine) protocol is an adaptive computation method that integrates the programmability of Ethereum and EVM compatible smart contracts with the Bitcoin network's security.","content":"<p>The <strong>NEVM (Network-Enhanced Virtual Machine)</strong> protocol is an adaptive computation system that combines the <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-programmability/">programmability of <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-ethereum-eth/">Ethereum </strong></a>and<a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-ethereum-virtual-machine-evm/"> EVM</strong></a> (Ethereum Virtual Machine compatible smart contracts) with the protection provided by the <a href=https://www.bitdegree.org/"https://www.bitdegree.org/crypto/buy-bitcoin-btc/">Bitcoin network.</p>\n<p>Moreover, this computational protocol mixes the finest features of the Bitcoin network, including its <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-hash-power-hashrate/">hashrates, merge-mining, security prototype, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-unspent-transaction-output-utxo/">UTXO effectiveness, and scalability, with Ethereum's vast spectrum of <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-smart-contract/">smart contracts</strong></a>, to provide an integrated decentralized financial computation system.&nbsp;</p>\n<p>Individuals and developers may profit from the best of both worlds with NEVM. Besides, &nbsp;the NEVM protocol addresses the Bitcoin network's lengthy <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-selfish-mining/">selfish mining</strong></a>&nbsp;problem. At the same time, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-zero-knowledge-proof/">zero-knowledge proofs</strong></a> are introduced to enable high degrees of permissionless compatibility and adaptability, all on Turing-complete smart contracts.</p>\n<p>In regards to that, the NEVM adds smart contract features to the Bitcoin network. It's achieved by providing <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-interoperability/">interoperable and scalable smart contracts that can enable worldwide acceptance while preserving cheap gas costs and permitting decentralized settlements guaranteed by bitcoin's <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-proof-of-work-pow/">Proof-of-Work (PoW)</strong></strong></a> security architecture.</p>\n<h3>The Benefits of Network-Enhanced Virtual Machine (NEVM)</h3>\n<p>A few of the benefits of the NEVM include:</p>\n<ul>\n<li>High degrees of fault tolerance in conjunction with interactive data;</li>\n<li>The capacity to grow to an arbitrary number of transactions while avoiding the requirement for proofs of one-time operations to be re-executed;</li>\n<li>Interoperability between individual chains that are not based on trust.</li>\n</ul>\n<p>In addition, the NEVM, as a computational protocol, uses smart contracts to expand up to 210,000 <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-transactions-per-second-tps/">transactions per second (TPS)</strong></a> while keeping gas bills as low as feasible.&nbsp;</p>\n<p>Alongside additional modifications planned in the future, NEVM is expected to reach four million TPS, the highest <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-throughput/">throughput available by any current layer-1 or layer-2 technology.</p>\n<p>Furthermore, NEVM overcomes a wide range of challenges that blockchain projects experience in current smart contract systems with Syscoin's product line.&nbsp;</p>\n<p>Numerous additional innovations are included in the protocol, such as highly safe exchanges that are able to expand to assist millions of users simultaneously, regulatory requirements for virtual assets, and entirely compliant development tools for <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-web-3-0/">Web3, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-defi/">DeFi, <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-metaverse/">Metaverse, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-non-fungible-token-nft/">NFT projects.</p>\n<p>It does this all without jeopardizing core elements like <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-decentralization/">decentralization and security.</p>","level":"medium","meta_title":"What is Network-Enhanced Virtual Machine (NEVM)? Definition & Meaning | Crypto Wiki","meta_description":"Network-Enhanced Virtual Machine (NEVM) meaning: Network-Enhanced Virtual Machine (NEVM) - The NEVM (Network-Enhanced Virtual Machine) protocol is an adaptive computation method that integrates the programmability of Ethereum and EVM compatible smart contracts with the Bitcoin network's security.","meta_keywords":null,"language":"en","created_at":"2022-03-23T13:25:50.000000Z","updated_at":"2022-05-13T14:32:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-network-enhanced-virtual-machine-nevm"},"currentChapter":"N","currentSection":"who-is-nick-szabo","chapterTitle":"N","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/who-is-nick-szabo","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0">
Crypto Terms: Letter N

Who is Nick Szabo?

Nick Szabo MEANING:
Nick Szabo - is a well-known computer scientist who invented Bit Gold.
Easy
1 minute

Let's find out Nick Szabo meaning, definition in crypto, who is Nick Szabo, and all other detailed facts.

Nick Szabo is a computer scientist, cryptographer, and legal scholar who is known for the invention of Bit Gold in 1998. However, Bit Gold was never implemented, but has been referred to as “a direct precursor to the Bitcoin architecture.”

Szabo also created the notion of smart contracts, which he first defined as "highly advanced" contract law and e-commerce protocol standards involving many parties via the internet. Smart contracts eventually grew into a core technology underpinning Ethereum, the second-largest cryptocurrency in terms of market capitalization.

Moreover, Szabo is one of the individuals that some experts consider to be the true identity of Bitcoin's mysterious creator, Satoshi Nakamoto

In several articles, Szabo and Satoshi attempted to contact a comparable set of people in order to obtain input and advice for their project, which some analysts believe is indirect evidence that they are, in fact, the same person.

Other theories contend that Szabo and Satoshi have particularly equivalent writing styles, as well as comparable reasons for why Bitcoin must have some kind of value, as shown in a Gizmodo investigation

Similarly, Aston University's research evaluated both of their articles and discovered similarities in the styles and wordings employed by Satoshi and Szabo in their works.

In regards to that, Szabo himself has categorically rejected this report, citing a journalist in an email where he thanked for informing him and said that they misidentified him as Satoshi, however, he is accustomed to it.

Nevertheless, the industry isn’t sure whether Szabo could truly be the famous Satoshi Nakamoto.