An “inferior good” is a term used in economics to refer to a product that people tend to purchase less of as their income increases. When people earn more and the economy gets better, these goods become less popular because consumers start opting for more expensive alternatives instead. Learn more about Inferior Good According to
A dead coin refers to a cryptocurrency that has become inactive, lost its value, or is no longer supported. This can occur for various reasons, including the developers of the project abandoning it, a lack of interest from the community, security issues, low trading activity, or it being revealed as a scam. Essentially, dead coins
A private good is something you have to buy in order to use, and when one person uses it, it means someone else can’t. Basically, a product is labeled as a private good if people are competing to get it, and using it stops others from using it too. Economists describe private goods as both
A candidate block is one that a mining node (miner) is attempting to mine to earn the block reward. You can think of a candidate block as a temporary block that the network will either validate or reject. Miners are in a race to validate the next block and add it to the blockchain, but
A public good refers to a product or service that everyone in a community can utilize without diminishing its availability for others. Usually, these goods are supplied by the government and financed through taxes. Examples of public goods are things like a local road, a park, or a school. National defense also qualifies as a
Segregated Witness (SegWit) is a protocol upgrade that was created back in 2015. It was introduced to tackle the scalability issues that blockchain networks were facing, and still face today. Typically, the Bitcoin network validates a new block every 10 minutes, with each block containing multiple transactions. Therefore, the size of the block directly impacts
Infrastructure refers to the essential physical systems that support a business, area, or country, and it usually includes the creation of public goods or production methods. Some examples of infrastructure are transportation networks, communication systems, sewage and water services, as well as educational institutions. Investing in infrastructure can be pretty expensive and requires a lot
A central bank digital currency (CBDC) is basically a digital version of regular money. It gets its status as money from government rules. The way a CBDC is designed will probably differ quite a bit depending on the country that issues it. Some might use blockchain or another kind of distributed ledger technology (DLT), while
The invisible hand is a term used to describe the hidden forces that drive the free market economy. By pursuing their own self-interest and having the freedom to produce and consume, individuals ultimately serve the best interests of society as a whole. The ongoing interaction of individual influences on market supply and demand leads to
SOFR is short for Secured Overnight Financing Rate. It’s essentially a figure that indicates the cost of borrowing money overnight, with the loan secured by reliable US Treasury securities. You can think of it as a daily overview of borrowing expenses in a massive market where banks and other major players exchange cash and Treasuries.