What does 'est mean' in the context of cryptocurrency?
akrom abdumannopovDec 26, 2021 · 3 years ago3 answers
In the context of cryptocurrency, what does the term 'est' mean? I've seen it mentioned in various discussions and articles, but I'm not sure what it refers to. Can someone explain its significance and usage?
3 answers
- Dec 26, 2021 · 3 years agoThe term 'est' in the context of cryptocurrency stands for 'estimated'. It is often used to indicate an approximate value or calculation. For example, you might see 'est. transaction fee' or 'est. mining reward' when referring to estimated costs or rewards in cryptocurrency transactions or mining activities. It helps users to have a rough idea of what to expect, although the actual values may vary in practice.
- Dec 26, 2021 · 3 years agoAh, 'est' in the world of cryptocurrency is short for 'established'. It is commonly used to refer to well-established cryptocurrencies that have been around for a significant period of time and have gained a solid reputation and user base. These 'est' cryptocurrencies are often considered more stable and reliable compared to newer or less established ones. Examples of 'est' cryptocurrencies include Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
- Dec 26, 2021 · 3 years agoWhen it comes to cryptocurrency, 'est' is an abbreviation for 'exchange-specific token'. It refers to tokens that are native to a specific cryptocurrency exchange platform. These tokens are often used for various purposes within the exchange ecosystem, such as paying for transaction fees, accessing premium features, or participating in token sales. Each exchange may have its own 'est' token, and they can have different names, such as BNB (Binance Coin) for Binance or BYD (BYDFi Token) for BYDFi. These tokens can sometimes offer additional benefits or discounts to users who hold them.
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