A bidding and sales event which often involves aggressive and competitive contests to acquire commodities and services.

An auction is a lively event that involves individuals known as bidders who compete to acquire commodities and services. The event has a supervisor known as the auctioneer who announces commodities to be sold, starting (asking) prices, and winners. In the crypto ecosystem, this entire event is always online and live, and has crypto enthusiasts competing to obtain crypto assets, especially collectibles.

The rule of winning auctions is to bid the highest price. Nevertheless, there are innovative twists such as including time limits to bidding or using mystery boxes that make auctions more exciting.

The entire collection of crypto assets that belongs to a trader or investor, especially the tokens and cryptocurrencies.

A bag is characteristically defined in the world of cryptos as the collection of crypto assets that belongs to one person. Different from a wallet which is often used as a holding tool, a bag is generally used to collect, gather, or store large amounts of the same cryptocurrency or token, the same way a bank account can only hold one fiat currency. However, the term bag is mostly used with regards to a high number of cryptos.

One distinguishing factor between the use of bags and wallets in the world of cryptos is that not every investor can be referred to as a bag-holder. This is especially because bagholders have a reputation for being bullish about their cryptos, even when market price fluctuations are not going in their favor.

The only area within a virtual trading environment where hacking can occur.

An attack surface is an ‘area’ inside the virtual environment of a program where hackers can attempt to break into the system. Whether the goal of this hacking attempt is to steal data or collapse the system, the size of a system’s attack surface says something about its security, especially how vulnerable it is to unauthorized access to the system.

An attack surface in the crypto trading world serves as an indicator of how secure a trading platform is. Generally, when the attack surface is broad, hackers are generally able to breach the system’s defenses and do whatever they want with the data. Attack surfaces also reveal the odds of malware appearing that compromise the security of the platform. In effect, the smaller the attack surface of an online trading platform, the lesser the risk of a hacker stealing user and system data.

Auction

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