Crypto Terms:
Letter G
Who is Gavin Wood?
Meaning:
Gavin Wood -
one of the founders of Ethereum, Parity Technologies, and the Web3 Foundation.
Let's find out Gavin Wood meaning, definition in crypto, who is Gavin Wood, and all other detailed facts.
In the past, Gavin Wood worked with Vitalik Buterin and was one of the co-founders and the chief of technology (CTO) of Ethereum. As of writing this, Gavin Wood is the president and founder of the Web3 Foundation which focuses on the decentralization of the internet. In addition, Gavin is a co-founder of a blockchain company that aims to build a new framework for decentralized apps (DApps) called Parity Technologies.
In the past, Gavin contributed a lot to the growth of Ethereum. He was involved in the development of the first functional Ethereum application. In addition, he proposed and wrote the code for the Solidity programming language which is used with smart contracts up to this day. Besides that, he also released the yellow paper of the Ethereum Virtual Machine (EVM). However, in 2016 Gavin stopped working with Ethereum.
After that, he focused on a new project called Polkadot, which was launched in May 2020. Polkadot is a multi-chain blockchain ecosystem that focuses on helping developers create new backward-compatible dApps. Polkadot, unlike Ethereum, allows developers to determine how much to charge in transaction fees and how quickly blocks can be approved.
Gavin's goal is to bridge the gap between private and public blockchains, making it easier for projects to transact with one another without friction, regardless of various network differences.
Bitcoin first came around, almost no one saw its potential value. But the few ones that did, received tremendous rewards.<\/p>\n<p>Generally, gems come in the form of coins or tokens with low market capitalizations. As more and more people discover the gem, the trading volume increases. Gems usually have scarcity mechanisms in place like a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-hard-cap/">hard cap<\/strong><\/a> or a deflationary model. Yet some gems can be inflationary. <\/p>\n<p>There are only a few criteria that can help you recognize a gem. It includes their <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-market-capitalization-market-cap-mcap/">market cap<\/strong><\/a>, <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-volume/">volume, supply, and fundamentals. <\/p>\n<p>In order to see how valuable a project could be in the future, before anything else, you need to perform a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-fundamental-analysis/">fundamental analysis<\/strong><\/a>. Don’t forget to consider that some factors can only be detected by outside expertise.<\/p>\n<p>During your research, ask yourself these questions:<\/p>\n<ul>\n<li>Will this project create a big impact?<\/li>\n<li>What are this project’s key advantages and disadvantages?<\/li>\n<li>How competent and experienced is the team behind this project?<\/li>\n<\/ul>\n<p>Gem hunting is a risky endeavor since more often than not the coins exponentially drop in value instead of growing.<\/p>","definition":" undervalued low-cap coins whose value will gradually increase over time.","status":"published","meta_title":"What are Gems? Definition & Meaning | Crypto Wiki","meta_description":"Gems meaning: Gems - undervalued low-cap coins whose value will gradually increase over time.","meta_keywords":null}"
:prev-section="{"id":9200,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Ethereum#Gas","level":"easy","author_id":4,"created_at":"2023-07-20T07:16:28.000000Z","updated_at":"2023-11-27T20:40:26.000000Z","slug":"what-is-gas-war","title":"What is Gas War?","section":"G","keyword":"Gas War","content":"<p>To understand what is a crypto gas war, you should first understand what <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-gas/" target=\"_blank\" rel=\"noopener\"><strong>gas<\/strong><\/a> is. Essentially, <strong>gas is like a fuel that is needed for the validation of blockchain transactions<\/strong>, hence the name. The term was initially crafted by <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum, while many other blockchains simply use the term \"transaction fees.\" However, some blockchains like BSC or Polygon use the term \"gas\" as well.<\/p>\n<p><strong>Gas fees are paid to those who validate transactions on the blockchain<\/strong> in question, whether they be <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-work-pow/">PoW miners or <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-proof-of-stake-pos/">PoS validator nodes. Each blockchain predetermines a minimal gas fee that you have to pay. Yet, a trader who wants to push their transaction to be validated faster than those of other traders can pay validators a \"tip,\" which will be added to the minimal gas fee.<\/p>\n<p>And this is exactly how a gas war begins, when traders start increasing their gas fees. However, <strong>a gas war is unlikely to break out over regular payments<\/strong>. It is more likely, for instance, when a brand-new crypto asset or <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//learn//crypto-terms//what-is-non-fungible-token-nft/">non-fungible token (NFT)<\/strong><\/a> is put up for sale. Those who lose the gas war are unable to purchase the NFT at that specific price.<\/p>\n<p>The gas war, however, affects more people than just those looking to purchase assets in a specific sale. Everyone using the network to complete transactions at that time must pay higher gas fees or wait to finish their transaction later.<\/p>\n<p>A notable gas war happened when <strong>Yuga Labs opened the sale of Otherdeed NFTs in May 2022<\/strong>. The collection of 55,000 NFTs was sold out right after its launch, generating over $319 million, as gas fees fluctuated from 2.6 ETH to 5 ETH ($6,500-$14,000). For reference, Ethereum gas fees usually go from $2 to $5 worth of ETH.<\/p>","definition":"a bidding war that happens when investors start paying higher gas fees in order to push their transactions to be verified in the upcoming transaction block.","status":"published","meta_title":"What is Gas War? Definition & Meaning | Crypto Wiki","meta_description":"Gas War meaning: Gas War - a bidding war that happens when investors start paying higher gas fees in order to push their transactions to be verified in the upcoming transaction block.","meta_keywords":null}"
:model="{"id":362,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Gavin_Wood","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-11-17T12:50:27.000000Z","slug":"who-is-gavin-wood","title":"Who is Gavin Wood?","section":"G","keyword":"Gavin Wood","content":"<p>In the past, Gavin Wood worked with <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//who-is-vitalik-buterin/">Vitalik Buterin<\/strong><\/a> and was one of the co-founders and the chief of technology (CTO) of<strong> Ethereum<\/strong>. As of writing this, Gavin Wood is the president and founder of the <strong>Web3 Foundation<\/strong> which focuses on the decentralization of the internet. In addition, Gavin is a co-founder of a blockchain company that aims to build a new framework for decentralized apps (DApps) called <strong>Parity Technologies<\/strong>.<\/p>\n<p>In the past, Gavin contributed a lot to the growth of Ethereum. He was involved in the development of the first functional Ethereum application. In addition, he proposed and wrote the code for the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-solidity/">Solidity programming language which is used with smart contracts up to this day. Besides that, he also released the yellow paper of the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-ethereum-virtual-machine-evm/">Ethereum Virtual Machine (EVM)<\/strong><\/a>. However, in 2016 Gavin stopped working with Ethereum.<\/p>\n<p>After that, he focused on a new project called <a href=https://www.bitdegree.org/"https:////en.wikipedia.org//wiki//<strong>Polkadot<//strong>_(cryptocurrency)/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Polkadot<\/strong><\/a>, which was launched in May 2020. <strong>Polkadot is a multi-chain blockchain ecosystem<\/strong> that focuses on helping developers create new backward-compatible dApps. Polkadot, unlike Ethereum, allows developers to determine how much to charge in transaction fees and how quickly blocks can be approved.<\/p>\n<p>Gavin's goal is to bridge the gap between private and public blockchains, making it easier for projects to transact with one another without friction, regardless of various network differences.<\/p>","definition":"one of the founders of Ethereum, Parity Technologies, and the Web3 Foundation.","status":"published","meta_title":"Who is Gavin Wood? Definition & Meaning | Crypto Wiki","meta_description":"Gavin Wood meaning: Gavin Wood - one of the founders of Ethereum, Parity Technologies, and the Web3 Foundation.","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’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>\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’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 & 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? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin 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(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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current-chapter="G"
current-section="who-is-gavin-wood">
