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Author Topic: Some Cryptocurrency Related Terms  (Read 105 times)

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Offline Kriptolab

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Some Cryptocurrency Related Terms
« about: January 26, 2019, 04:15:26 PM »
1. Exchange - Websites where you can buy and sell crypto-currencies.

2. Fiat - Government-issued currency, such as the US dollar.

3. Bullish - An expectation that price is going to increase.

4. Tokens - Refers to the ‘currency’ of projects built on the ethereum network that have raised money via issuing their own tokens.

5. ICO - Initial Coin Offering, somewhat similar to an IPO in the non-crypto world. Startups issue their own token in exchange for ether.

6. Stable coin - A crypto-currency with extremely low volatility that can be used to trade against the overall market.

7. Scam - brief explanation of "Not Paying"

8. Trading - act of buying and selling activity on bitcoin exchanger sites

9. Wallet - used to store your coins/tokens. It's either online, offline or hardware wallet

10. Address - consists of alphanumeric characters. The only way to receive coins/tokens from other wallets.

11. PoW - Proof-of-work. The current consensus algorithm used by Ethereum.

12. Sharding - a scaling solution for blockchains.

13. Software wallet - storage for crypto-currency that exists purely as software files on a computer.

14. Hardware wallet - a device that can securely store crypto-currency.

15. Ledger Nano S / Trezor - two of the most popular hardware wallet models.

16. Smart contract - code that is deployed onto the Ethereum blockchain, often directly interacting with how money flows.

17. Dump - this is where the price of a token/coin go down.

18. Pump - opposition of dump. Where price of a token/coin go up.

19. Escrow - a third party selected and trusted by two individuals to mediate to their transactions.

20. Dapp - decentralized Application, this refers to an application that uses an Ethereum smart contract as it’s back-end code.

21. Airdrop - it is a free crypto coin that is being dished out by a certain project to the wallets of the crypto community.

22. Forking - it is a network split that will create another crypto currency.

23. FUD - Fear, Uncertainty and Doubt. It's the way to scare people so they will be hesitant on buying cryptocurrencies.

24. Fork - when a copy of the blockchain is made and changes are also made to the code to create a new coin.

25. Gas - a measurement of how much processing is required by the ethereum network to process a transaction.

26. Whale - someone that owns absurd amounts of crypto-currency.

27. Bearish - an expectation that price is going to decrease.

28. Altcoin - coins aside from bitcoin.

29. Block - a block is group of bitcoin transactions that are being processed & confirmed.

30. Blockchain - a publicly shared record of every bitcoin transaction that has ever been processed.

31. Hash Rate - is a measurement of computer processing power of bitcoin miners.

32. Hard cap - The maximum projected amount during ICO token sale.

33. Soft cap - the minimum projected amount during ICO token sale.

34. Momentum - price movement.

35. ERC20 - a standard for creating ETH based tokens.

36. Crypto - short for cryptography or cryptocurrency.

37. Chop - directionless price movement that lacks momentum

38. Reversal - a change in price direction.

39. Miners - people who run computers to secure transactions on a blockchain.

40. Accumulation - buying an asset to acquire a sizable position.

41. Bounce play - when the price bounces up quickly after a dump.

42. Breakdown - price dropping below support.

Source: https://cryptominded.com/glossary-cryptocurrency-terms-need-know/
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Some Cryptocurrency Related Terms
« about: January 26, 2019, 04:15:26 PM »