Ultimate Crypto Resource Guide
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cRYPTO Glossary
Explore essential terms and concepts in the world of cryptocurrency, blockchain, and trading
A
Agent
An agent is a third party authorized by a business (the "principal") to act on its behalf and enter into contracts.
Explanation:
- Legal representation: Agents have the authority to make decisions and conduct transactions on behalf of the principal.
- Agency relationship: The agent's actions legally bind the principal, who assumes responsibility for these actions.
- Types of agents: Can include individuals, firms, or automated systems authorized to perform specific tasks.
- Examples: In blockchain networks, nodes can act as agents validating transactions and executing smart contracts.
Key Points for Beginners:
- Authorization: Agents act with delegated authority from the principal, ensuring legal validity of transactions.
- Trust and accountability: Principals rely on agents to uphold their best interests and maintain fiduciary responsibilities.
- Blockchain application: Smart contracts enable autonomous agents to execute predefined tasks transparently and securely.
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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