Crypto Terms: Letter D

What is Daemon?

Meaning:

Daemon - a background process that executes specific functions in specific events.

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Let's find out Daemon meaning, definition in crypto, what is Daemon, and all other detailed facts.

Daemon is a computer program running in the background. It’s only activated when pre-determined conditions are met.

decentralized autonomous organization (DAO)<\/strong><\/a>. While the term can apply to the creation of any new DAO, it is most often used when talking about <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-moloch-dao/">Moloch DAO<\/strong><\/a>.<\/p>\nMoloch DAO was the first decentralized autonomous organization to be summoned. The summoning was initiated by Ameen Soleimany on February 14th, 2019, at the ETHDenver event<\/strong>.<\/p>\nThe process of DAO summoning is fast, as the infrastructure can be deployed in a few seconds using tools that have been developed to optimize the process.<\/p>\nSummoning refers to the urgency of creating a new DAO by bringing the community together to work on a collective purpose, nurture the same values<\/strong>, and share the ownership of the fundamental idea of the DAO.<\/p>\nThe choice of vocabulary is a deliberate contract to the terminology used to describe new formations of traditional companies which are not community-driven and instead are corporate-owned. In this case, more utilitarian vocabulary such as “fund”<\/strong> or “start” is used.<\/p>\nDAO summoning can also be used to describe the process of assembling the new members of a newly established DAO. The entity in the role of the DAO summoner calls on the community members to join the organization. This leads to the first cohort of DAO members.<\/p>\nThe early versions of the Moloch DAO framework established that the DAO summoner was the only initial member of the organization in its infancy<\/strong>. This led to the requirement to bring new members into the organization.<\/p>\nStarting with version 2.1 of the Moloch DAO framework, multiple initial members have been granted permission to summon a new DAO. This process is referred to as “multi-summoning”.<\/p>","definition":"the creation of a decentralized autonomous organization (DAO).","status":"published","meta_title":"What is DAO Summoning? Definition & Meaning | Crypto Wiki","meta_description":"DAO Summoning meaning: DAO Summoning - the creation of a decentralized autonomous organization (DAO).","meta_keywords":null}" :prev-section="{"id":866,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Cardano_(blockchain_platform)","level":"easy","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-11-22T04:38:54.000000Z","slug":"what-is-daedalus-wallet","title":"What is Daedalus Wallet?","section":"D","keyword":"Daedalus Wallet","content":"Daedalus Wallet<\/strong> allows users to produce an endless number of keys from one seed. On top of that, it utilizes passwords and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-encryption/">encryptedprivate keys<\/strong><\/a> that safeguard the wallet <\/strong>against a variety of dangers such as <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-malware/">malware./nHierarchical-deterministic (HD) wallets<\/strong><\/a> indicate that it issues a hierarchical structure of private as well as public addresses for the user rather than demanding them to be produced manually. They produce all addresses from one master seed.<\/p>\nEvery time a new counter value is assigned to this seed, an infinite number of additional addresses may be generated automatically depending on the new seed.<\/p>\nThe Daedalus wallet has been officially launched by <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-input-output-hong-kong-iohk/">Input-Output Hong Kong<\/strong><\/a>. This means it can be utilized throughout a number of systems<\/strong>. It provides the possibility to store assets in a safe manner and transfer ADA coins throughout different addresses.<\/p>\nThe user’s geographical location has no limitations. Nevertheless, users are obligated to make sure that engaging in <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptocurrency/">cryptocurrency processes is allowed within their country.<\/p>\nSpeaking of security, in the scenario where a user creates a Daedalus wallet, it generates a 12-word <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-seed-phrase/">seed phrase<\/strong><\/a>. This is done to ensure that the funds in the wallet can be regained by the rightful owner.<\/p>\nIt is also secured with a password. This password has to be entered every time funds are sent out of the wallet.<\/p>\nIn addition, there is also the encryption of private keys. This guarantees that the cryptographic interactions belong to the intended recipient. Thus a higher level of privacy is provided to the wallet’s user base.<\/p>","definition":"is an open-source, hierarchical-deterministic wallet available on multiple platforms.","status":"published","meta_title":"What is Daedalus Wallet? Definition & Meaning | Crypto Wiki","meta_description":"Daedalus Wallet meaning: Daedalus Wallet - is an open-source, hierarchical-deterministic wallet available on multiple platforms.","meta_keywords":null}" :model="{"id":965,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Daemon_(computing)","level":"easy","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-11-22T04:37:25.000000Z","slug":"what-is-daemon","title":"What is Daemon?","section":"D","keyword":"Daemon","content":"Daemon<\/strong> is a computer program<\/strong> running in the background. It’s only activated when pre-determined conditions are met<\/strong>.<\/p>","definition":"a background process that executes specific functions in specific events.","status":"published","meta_title":"What is Daemon? Definition & Meaning | Crypto Wiki","meta_description":"Daemon meaning: Daemon - a background process that executes specific functions in specific events.","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":"Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\nWith close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’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>\nAaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\nAaron 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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Standards","status":"published","modified_content":null},{"chapter_id":3,"order":5,"slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","status":"published","modified_content":null},{"chapter_id":3,"order":6,"slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","status":"published","modified_content":null},{"chapter_id":3,"order":7,"slug":"how-to-use-crypto","title":"You\u2019ve Got Crypto: What Can You Do With It?","status":"published","modified_content":null}]},{"id":4,"title":"Crypto Wallets","slug":"crypto-wallets","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-wallets.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-wallets-101.jpg","rating":80,"sections":[{"chapter_id":4,"order":1,"slug":"what-is-a-crypto-wallet","title":"What is a Crypto 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: 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Techniques","status":"published","modified_content":null},{"chapter_id":6,"order":12,"slug":"what-is-an-oracle-in-crypto","title":"Crypto Oracles: The Link Between Blockchain and Outside World Data","status":"published","modified_content":null},{"chapter_id":6,"order":13,"slug":"crypto-gambling","title":"The Peculiarities of Decentralized Crypto Gambling","status":"published","modified_content":null},{"chapter_id":6,"order":14,"slug":"what-is-the-metaverse","title":"Metaverse: A New Perception of Reality","status":"published","modified_content":null}]},{"id":7,"title":"Trading & Investing","slug":"trading-and-investing","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-trading.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-trading-101.jpg","rating":80,"sections":[{"chapter_id":7,"order":1,"slug":"where-to-trade-crypto","title":"Where Can You Trade 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 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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="D" current-section="what-is-daemon">

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