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Crypto Terms:  Letter B

What is Beta (Release)?

Meaning:
Beta (Release) - During the beta testing stage testers try to discover bugs regarding security, efficacy, and availability.
medium
3 minutes

Let's find out Beta (Release) meaning, definition in crypto, what is Beta (Release), and all other detailed facts.

To put it simply, the alpha and beta stages refer to the phases of testing new software, or an application in the world of IT. The beta stage comes right after the alpha stage in a software development cycle. During this following stage, the aim is to improve security, efficacy, and availability.

Differently from alpha, the beta stage involves outsiders, that aren’t directly involved with the company to run tests, analyze the application and report bugs or errors if any were found. This method is used with the hopes to get genuine feedback.

The Beta version isn’t far from the final version, since it does have the functionality and the looks of how approximately it will be at the final stage. However, alpha and beta versions tend to have design adjustments throughout the process.

The next move after beta testing is the release. When the beta version is not far from being done, it is called a “release candidate”. If no errors or issues happen after, the software can be released and referred to as a “stable release”.

The cryptocurrency that should be released into the market goes through similar stages. It is tested internally and externally making sure that the blockchain architecture does not break down when users start exchanging it.

Moreover, to be fitting for beta testing, the product has to have all of the necessary features, that are planned for the final version. The product shouldn’t go through unpredictable crashes.

Speaking of participants, they must be from the target audience and be able to perform real-world tasks and use the app in a real-world context at the same time. Real users are the ones that do the final test of user acceptance, in real, external conditions. Meaning, that the application will get personal feedback from potential customers.

Open beta testing involves a lot of people who typically are potential clients. Perhaps open testing is a way of marketing and letting the clients get to know the product. Nevertheless, if there is a need for private testing, and keeping the product secret from the public, a smaller number of testers are included. 

A beta release means that the software is available for developers and testers. The people that are testing the version of the software can be called beta testers. These testers are usually volunteers that are curious about the product. They can not only provide feedback about the bugs, but they can recommend new features and additions as well.

The goal is to avoid future failure of the product and increase the overall quality.

One example would be a new blockchain and token protocol, Traxalt, which has conducted a beta testing phase as a way of making sure that all the systems are working the way they should. It formed an alliance with another company and gave them early access to the product.

The alliance company gave feedback, and the developers improved the system and fixed the bugs according to it.

ETH, <a href=https://www.bitdegree.org/"//crypto//buy-bitcoin-btc/">BTC, or USDC. The diamond reached a bid of $6.8 million.<\/p>\n<p>If shareholders or brokers wish to sell their assets or holdings, they have to decide on one of the existing bid prices on the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-order-book/">order book<\/strong><\/strong><\/a>, usually the highest, or propose a price themselves. Then a buyer must bid against it, that way fulfilling the order.<\/p>\n<p>The bid-ask spread is calculated by subtracting the value of an ask price and a smaller amount of the bid price.&nbsp;<\/p>\n<p>The order book has a lot of different bid price options for the buyers, and ask prices for the sellers. The contrast between the highest bid price and the minimum ask price is called the bid&ndash;ask spread.<\/p>\n<p>There is also an unsolicited bid that refers to the scenario when a bidder submits an offer despite the fact that the seller isn&rsquo;t trying to sell its asset at the moment.<\/p>\n<p>It is common that cryptocurrencies sell at a lower price than the ask price. Moreover, the participant of the bidding has the full power to navigate the bid price. But he must follow the market standards. Trading markets and other financial markets are known to be ambitious regarding the trading of real-time price updates.<\/p>\n<p><a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-market-maker-market-taker/">Market makers<\/strong><\/strong><\/a> are frequently responsible for developing bids. They may also do so if they can sell at the price requested by the vendor. Market makers benefit from the difference between the two values, which is represented by the spread. The greater the spread, the greater the revenue generated by an investor.<\/p>","definition":"is the amount that a certain individual is down to pay for an asset, service, commodity, or contract in financial markets.","status":"published","meta_title":"What is Bid Price? Definition & Meaning | Crypto Wiki","meta_description":"Bid Price meaning: Bid Price - is the amount that a certain individual is down to pay for an asset, service, commodity, or contract in financial markets.","meta_keywords":null}" :prev-section="{"id":948,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Beta_(finance)","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2024-01-01T08:27:36.000000Z","slug":"what-is-beta-coefficient","title":"What is Beta (Coefficient)?","section":"B","keyword":"Beta (Coefficient)","content":"<p>A beta coefficient can be used to compare the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-volatility/">volatility of an asset to the volatility of the whole market. For example, beta could be employed to determine a projected <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-roi/">return on investment<\/strong><\/a> of an asset. It's calculated based on an asset's volatility in relation to the market.<\/p>\n<p>Therefore, beta is used to assess <strong>how much risk a certain investment will add to a current portfolio rather than measuring the risk of investment in a single asset. <\/strong>Mutual funds, for instance, could use beta to investigate how risky it would be to add a certain financial instrument to their investment portfolio. Therefore, based on the risk profile of a certain portfolio, the beta coefficient can assist users in determining which assets they should acquire.<\/p>\n<p>Beta is interpreted by measuring whether it's above 1 or below it. This is the case because beta would be equal to 1 if all investable assets were compared. However, if we compared a specific asset against the market, beta would probably be higher or lower than 1.<\/p>\n<p><strong>When beta is higher than 1<\/strong>, it means that the asset is both volatile and its price movements correspond with the market. However, <strong>when beta is lower than 1<\/strong>, it might indicate lower volatility, or that the price fluctuations of an asset correspond less with the market.<\/p>\n<p>However, beta can also be used as a risk measure that compares the risk of an investment to a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-benchmark/">benchmark. The benchmark could be depicted as a broad market index or a particular portfolio. <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;\">For instance, we could use <\/span><a style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;\" href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoinalpha, the beta stage involves outsiders, that aren&rsquo;t directly involved with the company to run tests, analyze the application and report bugs or errors if any were found. This method is used with the hopes to get genuine feedback.<\/p>\n<p>The Beta version isn&rsquo;t far from the final version, since it does have the functionality and the looks of how approximately it will be at the final stage. However, alpha and beta versions tend to have design adjustments throughout the process.<\/p>\n<p>The next move after beta testing is the release. When the beta version is not far from being done, it is called a &ldquo;release candidate&rdquo;. If no errors or issues happen after, the software can be released and referred to as a <strong>&ldquo;stable release&rdquo;.<\/strong><\/p>\n<p>The cryptocurrency that should be released into the market goes through similar stages. It is tested internally and externally making sure that the blockchain architecture does not break down when users start exchanging it.<\/p>\n<p>Moreover, to be fitting for beta testing, the product has to have all of the necessary features, that are planned for the final version. The product shouldn&rsquo;t go through unpredictable crashes.<\/p>\n<p>Speaking of participants, they must be from the target audience and be able to perform real-world tasks and use the app in a real-world context at the same time. Real users are the ones that do the final test of user acceptance, in real, external conditions. Meaning, that the application will get personal feedback from potential customers.<\/p>\n<p><strong>Open beta testing involves a lot of people who typically are potential clients.<\/strong> Perhaps open testing is a way of marketing and letting the clients get to know the product. Nevertheless, if there is a need for private testing, and keeping the product secret from the public, a smaller number of testers are included.&nbsp;<\/p>\n<p>A beta release means that the software is available for developers and testers. The people that are testing the version of the software can be called beta testers. These testers are usually volunteers that are curious about the product. They can not only provide feedback about the bugs, but they can recommend new features and additions as well.<\/p>\n<p><em>The goal is to avoid future failure of the product and increase the overall quality.<\/em><\/p>\n<p>One example would be a new blockchain and token protocol, Traxalt, which has conducted a beta testing phase as a way of making sure that all the systems are working the way they should. It formed an alliance with another company and gave them early access to the product.<\/p>\n<p>The alliance company gave feedback, and the developers improved the system and fixed the bugs according to it.<\/p>","definition":"During the beta testing stage testers try to discover bugs regarding security, efficacy, and availability.","status":"published","meta_title":"What is Beta (Release)? Definition & Meaning | Crypto Wiki","meta_description":"Beta (Release) meaning: Beta (Release) - During the beta testing stage testers try to discover bugs regarding security, efficacy, and availability.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master&rsquo;s degree on Economics, Politics &amp; Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US&rsquo; Western and Japan&rsquo;s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He&rsquo;s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain &amp; Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? 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Wallet?","status":"published","modified_content":null},{"chapter_id":4,"order":2,"slug":"hot-wallet-vs-cold-wallet","title":"Hot Wallet VS Cold Wallet: Which One to Pick?","status":"published","modified_content":null},{"chapter_id":4,"order":3,"slug":"non-custodial-wallet","title":"What are Non-Custodial Crypto Wallets?","status":"published","modified_content":null},{"chapter_id":4,"order":4,"slug":"what-is-metamask","title":"Metamask: The Leading Non-Custodial Wallet","status":"published","modified_content":null},{"chapter_id":4,"order":37,"slug":"how-safe-is-cryptocurrency","title":"The Key Crypto Wallet Safety Practices: How Safe Can Crypto Be?","status":"published","modified_content":null}]},{"id":5,"title":"NFTs","slug":"nfts","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-nfts.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/nfts-101.jpg","rating":100,"sections":[{"chapter_id":5,"order":2,"slug":"how-to-trade-nfts","title":"NFT Trading: The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart 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Cryptocurrencies?","status":"published","modified_content":null},{"chapter_id":7,"order":2,"slug":"how-to-invest-in-crypto","title":"Investing in Crypto: What Investing Options Do You Have?","status":"published","modified_content":null},{"chapter_id":7,"order":3,"slug":"ico-vs-ido","title":"ICO vs IDO vs IEO: Which One is the One?","status":"published","modified_content":null},{"chapter_id":7,"order":4,"slug":"what-is-an-airdrop","title":"What are Crypto Airdrops and How to Get Them?","status":"published","modified_content":null},{"chapter_id":7,"order":5,"slug":"how-to-get-free-crypto","title":"How to Get Free Crypto Assets?","status":"published","modified_content":null},{"chapter_id":7,"order":6,"slug":"how-to-arbitrage-crypto","title":"What is Crypto Arbitrage: The Main Principles","status":"published","modified_content":null},{"chapter_id":7,"order":7,"slug":"what-is-a-perpetual-contract","title":"Perpetual Contracts: Futures Contracts Without an Expiration Date","status":"published","modified_content":null},{"chapter_id":7,"order":8,"slug":"what-is-fud","title":"What is FUD: How to Use It to Your Advantage While Investing in Crypto?","status":"published","modified_content":null},{"chapter_id":7,"order":9,"slug":"investing-in-cryptocurrency","title":"Investing in Cryptocurrency: How to Manage Your Risks?","status":"published","modified_content":null},{"chapter_id":7,"order":10,"slug":"what-is-a-rug-pull-in-crypto","title":"What is a Rug Pull in Crypto?","status":"published","modified_content":null},{"chapter_id":7,"order":11,"slug":"how-to-avoid-rug-pulls-in-crypto","title":"How to Spot and Avoid Rug Pulls?","status":"published","modified_content":null},{"chapter_id":7,"order":12,"slug":"how-to-avoid-crypto-taxes","title":"The Key Legal Techniques of Avoiding Crypto Taxes","status":"published","modified_content":null}]},{"id":8,"title":"Crypto Analysis","slug":"crypto-analysis","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-analysis.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-analysis-101.jpg","rating":100,"sections":[{"chapter_id":8,"order":1,"slug":"what-is-bullish-and-bearish","title":"Bearish and Bullish Markets: Do They Matter?","status":"published","modified_content":null},{"chapter_id":8,"order":2,"slug":"best-technical-analysis-indicators-for-crypto","title":"5 Best Crypto Technical Analysis Indicators You Must Know About","status":"published","modified_content":null},{"chapter_id":8,"order":3,"slug":"what-is-candlesticks","title":"Technical Analysis: What are Candlesticks, Trendlines, and Patterns?","status":"published","modified_content":null},{"chapter_id":8,"order":4,"slug":"how-to-track-new-crypto-coins","title":"Crypto Tracking: How to Track Your Favorite Coins & Tokens?","status":"published","modified_content":null},{"chapter_id":8,"order":5,"slug":"how-to-research-crypto","title":"Crypto Research Fundamentals & Social Signals: Your Daily Trading Strategy","status":"published","modified_content":null},{"chapter_id":8,"order":46,"slug":"portfolio-diversification-definition","title":"Portfolio Diversification: The Whats, the Whys, and the Hows","status":"published","modified_content":null}]},{"id":9,"title":"Mining","slug":"mining","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-mining.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-mining-101.jpg","rating":80,"sections":[{"chapter_id":9,"order":1,"slug":"what-is-crypto-mining","title":"Crypto Mining: What It is and How Does It Work?","status":"published","modified_content":null},{"chapter_id":9,"order":2,"slug":"what-is-a-mining-pool","title":"Mining Pools: Is Collective Mining Better Than Solo Mining?","status":"published","modified_content":null},{"chapter_id":9,"order":3,"slug":"what-is-staking-crypto","title":"An Advanced Look into What is Staking Crypto","status":"published","modified_content":null},{"chapter_id":9,"order":4,"slug":"what-is-proof-of-stake-vs-proof-of-work","title":"Proof-of-Work VS Proof-of-Stake: The Differences That Matter","status":"published","modified_content":null},{"chapter_id":9,"order":5,"slug":"what-is-crypto-mining-rig","title":"Crypto Mining Rig: What It is and How to Build One?","status":"published","modified_content":null}]},{"id":10,"title":"Crypto Terms","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/crypto-101-glossary.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-glossary-101.jpg","rating":100,"sections":["A","B","C","D","E","F","G","H","I","J","K","L","M","N","O","P","Q","R","S","T","U","V","W","X","Y","Z"]}]" current-chapter="B" current-section="what-is-beta-release">