What fungibility means?
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What fungibility means?
Fungibility is the ability of a good or asset to be readily interchanged for another of like kind. Like goods and assets that are not interchangeable, such as owned cars and houses, are non-fungible.
What is the meaning of fungibility in terms of tokens?
A representation of an asset on a blockchain that is interchangeable. Cryptocurrencies are the prime example of fungible tokens because each coin has the same value as any other coin of the same type at any given moment.
How do you pronounce fungibility?
3 syllables: “FUNG” + “juh” + “buhl”…Tips to improve your English pronunciation:
- Break ‘fungible’ down into sounds: [FUNG] + [JUH] + [BUHL] – say it out loud and exaggerate the sounds until you can consistently produce them.
- Record yourself saying ‘fungible’ in full sentences, then watch yourself and listen.
Where does the word fungible come from?
fungible (adj.) “capable of being used in place of another; capable of being replaced,” 1818, a word in law originally, from Medieval Latin fungibilis, from Latin fungi “perform” (see function (n.)) via phrases such as fungi vice “to take the place.” Earlier as a noun (1765).
What is the meaning of fungible in law?
Fungible things are items that can be easily replaced with another item that is practically the same, such as wood or paper currency. Often, whether or not an item is fungible will impact how damages will be calculated for breaches of contract or the destruction of an item.
What is the origin of NFT?
2012-2016 – The Early History Of NFTs On May 3rd, 2014, digital artist Kevin McCoy minted the first-known NFT ‘Quantum’ on the Namecoin blockchain. ‘Quantum’ is a digital image of a pixelated octagon that hypnotically changes colour and pulsates in a manner reminiscent of an octopus.
What does fungible mean for dummies?
Definition of fungible (Entry 1 of 2) 1 : being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an account Oil, wheat, and lumber are fungible commodities. fungible goods.
Is funge a word?
Funge definition (obsolete) A fool or simpleton.
Is fungus Greek or Latin?
Fungal and fungus both come from the Latin, with the probable Greek root sphongos, “sponge.”
Is fungi pronounced fun ji?
While the pronunciation of fungus is the same in both American and British English, the pronunciation of fungi varies. In the US, fungi is pronounced as fun-guy, where the “i” at the end of fungi is pronounced like you would say the letter “i”.
What does funge mean in Italian?
(obsolete) A fool or simpleton. noun. 5. 2.
