Crypto Terms and Glossary

in #cryptolast year

TermDefinition
AddressA unique identifier used to send and receive cryptocurrency
AirdropA marketing tactic where a project distributes tokens to users for free
AltcoinAny cryptocurrency that is not Bitcoin
APIApplication Programming Interface, a set of protocols and tools for building software applications
ASICApplication-Specific Integrated Circuit, a specialized computer chip designed for mining cryptocurrency
ATHAll-Time High, the highest price a cryptocurrency has ever reached
Atomic SwapA peer-to-peer exchange of cryptocurrency without the need for a third party
AttackAn attempt to compromise the security or integrity of a blockchain network
BagholderAn investor who holds a cryptocurrency that has lost significant value
Bear MarketA market trend where prices are declining
BitcoinThe first and most well-known cryptocurrency, created in 2009 by an anonymous person or group under the name Satoshi Nakamoto
BlockA set of transactions that have been validated and added to the blockchain
BlockchainA decentralized, distributed ledger that records transactions
Block ExplorerA website or tool that allows users to view information about blocks and transactions on the blockchain
BountyA reward offered to users for completing a specific task related to a cryptocurrency project
Bull MarketA market trend where prices are rising
Byzantine Fault ToleranceA characteristic of a distributed system that allows it to function even if some nodes fail or behave maliciously
Byzantine Generals ProblemA problem in distributed computing where nodes must reach consensus despite the presence of faulty or malicious actors
BytecoinA privacy-focused cryptocurrency that uses the CryptoNote protocol
BinanceOne of the world's largest cryptocurrency exchanges, based in Malta
Bitcoin CashA cryptocurrency that was created as a result of a hard fork in the Bitcoin blockchain
BitcointalkA forum dedicated to discussion of Bitcoin and other cryptocurrencies
Bitcoin.orgThe official website of the Bitcoin project
Bitcoin Pizza DayMay 22, 2010, the day when the first known commercial transaction using Bitcoin took place, in which 10,000 BTC were used to purchase two pizzas
Bitcoin WhitepaperThe original document outlining the design and goals of the Bitcoin protocol, written by Satoshi Nakamoto
Brain WalletA cryptocurrency wallet that is created by using a passphrase instead of a private key
BUIDLA misspelling of "build", used to encourage developers to focus on building useful products rather than solely on price speculation
ByzantiumA software upgrade to the Ethereum network that introduced several new features, including the Byzantium hard fork
ByzCoinA blockchain protocol that uses Byzantine Fault Tolerance to enable consensus among nodes
Buy WallA large order to buy cryptocurrency that creates a price floor and may discourage selling pressure
Byzantine FaultA fault that occurs when a node in a distributed system behaves maliciously or fails
Binance Coin (BNB)The native cryptocurrency of the Binance exchange, used for trading fees and other services
Bitcoin Improvement Proposal (BIP)A proposal for changes or additions to the Bitcoin protocol
Bitcoin MaximalistA person who believes that Bitcoin is the only cryptocurrency that has long-term value
Bitcoin MiningThe process of validating transactions and adding new blocks to the Bitcoin blockchain in exchange for rewards
Bitcoin PrivateA privacy-focused cryptocurrency that is a fork of Bitcoin and ZClassic
Bitcoin SV (BSV)A cryptocurrency that is a result of a hard fork from Bitcoin Cash
BitLicenseA regulatory framework for digital currency businesses operating in the state of New York
BitMEXA cryptocurrency derivatives exchange
BitTorrent Token (BTT)A cryptocurrency used for incentivizing and powering the BitTorrent network
Blockchain as a Service (BaaS)A cloud-based service that enables organizations to build, deploy and manage blockchain applications
Block HeightThe number of blocks in a blockchain, starting from the genesis block
Block RewardThe amount of cryptocurrency awarded to miners for adding a new block to the blockchain
Block SizeThe maximum size limit of a block in the blockchain
Brave BrowserA privacy-focused web browser that rewards users with Basic Attention Token (BAT) for viewing ads
BreakoutA sudden and significant increase in the price of a cryptocurrency
BrokerA company or individual that facilitates the buying and selling of cryptocurrency
Bull RunA period of time when the market experiences a prolonged increase in the price of a cryptocurrency
ByteA unit of digital information that consists of 8 bits
ByteballA cryptocurrency that uses directed acyclic graph (DAG) technology
Binance Smart Chain (BSC)A blockchain that runs parallel to the Binance Chain and enables the creation of smart contracts
Bitcoin ETFAn exchange-traded fund that tracks the price of Bitcoin
Bitcoin HalvingAn event that occurs every 210,000 blocks in the Bitcoin blockchain where the block reward is halved
Bitwise 10 Crypto Index FundA cryptocurrency index fund that tracks the performance of the top 10 cryptocurrencies by market capitalization
BlockFiA platform that allows users to earn interest on their cryptocurrency holdings
Bread WalletA mobile cryptocurrency wallet
BullishA term used to describe a positive outlook on the future price of a cryptocurrency
Cold StorageA method of storing cryptocurrency offline, typically on a hardware wallet, to protect it from hacking
CoinMarketCapA website that provides real-time data on the prices and market capitalizations of cryptocurrencies
ConsensusThe process of achieving agreement among nodes in a distributed system
CryptocurrencyA digital or virtual currency that uses cryptography for security and operates independently of a central bank
Centralized ExchangeA cryptocurrency exchange that is operated by a centralized entity
CryptojackingThe unauthorized use of a computer's processing power to mine cryptocurrency
CryptoKittiesA blockchain-based game where players collect and breed virtual cats
CoinbaseA popular cryptocurrency exchange that allows users to buy, sell and store cryptocurrency
ChainlinkA decentralized oracle network that provides real-world data to smart contracts
CryptographyThe practice of secure communication in the presence of third parties
Crypto WalletA digital wallet that allows users to store, manage and transfer cryptocurrency
Cryptography KeyA piece of information that is used to encrypt or decrypt data in a cryptographic system
Crypto MiningThe process of using computational power to validate transactions on a blockchain and earn rewards
Crypto RegulationThe process of creating and enforcing laws and regulations around the use of cryptocurrency
Crypto TradingThe act of buying and selling cryptocurrency for profit
Cryptographic Hash FunctionA mathematical function that converts input data into a fixed-size output, used for ensuring data integrity and security
Crypto VolatilityThe degree of variation of the price of a cryptocurrency over time
Crypto WhaleA person or entity that holds a significant amount of cryptocurrency
Crypto Wallet AddressA unique identifier that represents the location of a user's cryptocurrency in the blockchain
Cryptographic AlgorithmA set of rules used for encrypting and decrypting data in a cryptographic system
Crypto Market CapThe total value of all the cryptocurrencies in circulation
Crypto Payment GatewayA platform that enables merchants to accept cryptocurrency payments
Cryptocurrency ExchangeA platform that allows users to buy, sell and trade cryptocurrencies
Crypto BubbleA period of time when the market experiences a rapid increase in the price of cryptocurrencies, followed by a crash
Crypto ScalpingA trading strategy that involves making quick trades to profit from small price movements in a cryptocurrency
Crypto ArbitrageA trading strategy that involves buying and selling a cryptocurrency on different exchanges to profit from price differences
Crypto ICOAn initial coin offering, a type of crowdfunding campaign that allows investors to buy cryptocurrency tokens
Crypto ForkA permanent divergence in the blockchain, resulting in two versions of the same cryptocurrency
Crypto Mining FarmA facility that is set up to mine cryptocurrency on a large scale
DAOA decentralized autonomous organization, a type of organization that is run by rules encoded as computer programs on a blockchain
DecentralizationThe process of distributing control and decision-making power away from a centralized authority
Decentralized ExchangeA cryptocurrency exchange that is run on a decentralized network, allowing for peer-to-peer trading without the need for intermediaries
Digital AssetAny asset that exists in digital form, including cryptocurrencies, digital certificates, and digital records
Distributed LedgerA database that is spread across multiple nodes in a network, with each node having a copy of the same data
Double SpendA type of attack in which a user tries to spend the same cryptocurrency twice
ERC-20A technical standard used for smart contracts on the Ethereum blockchain
EthereumA decentralized platform that enables the creation of decentralized applications and smart contracts
EtherscanA blockchain explorer that provides real-time data on the Ethereum network
Fiat CurrencyA currency that is backed by a government, such as the US dollar or the Euro
FOMOFear of missing out, a psychological state in which a person is afraid of missing out on an opportunity
FUDFear, uncertainty, and doubt, a strategy used to create negative sentiment around a particular cryptocurrency or project
ForkA change in the software of a cryptocurrency that creates two separate versions of the blockchain
Full NodeA computer that has a complete copy of the blockchain and participates in the network by validating transactions and blocks
FaucetA website or app that rewards users with small amounts of cryptocurrency for completing tasks or solving captchas
FarmingA term used to describe the act of staking or providing liquidity in a DeFi protocol in exchange for rewards
Flash LoanA type of loan in which the borrower takes out a loan and pays it back within the same transaction
GasThe unit of measurement for the cost of executing a transaction on the Ethereum blockchain
Governance TokenA type of cryptocurrency that gives holders the right to vote on decisions related to the governance of a protocol or project
Genesis BlockThe first block in a blockchain, also known as block zero
HODLA misspelling of "hold" that has become a popular term in the cryptocurrency community, meaning to hold onto a cryptocurrency rather than selling it
Hard ForkA type of fork that is not backwards-compatible, meaning that nodes running the old version of the software will not be able to validate transactions on the new version
HashrateThe speed at which a mining machine is able to solve the cryptographic puzzle required to validate a block
Hot WalletA type of cryptocurrency wallet that is connected to the internet and is used for frequent transactions
HalvingA reduction in the rate at which new units of a cryptocurrency are created, which occurs at predetermined intervals in some cryptocurrencies
ICOInitial coin offering, a type of fundraising in which a new cryptocurrency is sold to investors in exchange for another cryptocurrency or fiat currency
ImmutableA characteristic of blockchain technology that refers to the inability to change or modify data once it has been recorded on the blockchain
InteroperabilityThe ability of different blockchains to communicate and interact with each other
KYCKnow Your Customer, a process used by cryptocurrency exchanges and other financial institutions to verify the identity of their customers
LamboShort for Lamborghini, a luxury car that has become a symbol of wealth and success in the cryptocurrency community
LedgerA record of all transactions in a blockchain
Lightning NetworkA layer-2 scaling solution for the Bitcoin network that allows for faster and cheaper transactions by processing them off-chain
LiquidityThe ease with which an asset can be bought or sold on an exchange without affecting its price
LongA term used to describe a bullish position, in which a trader believes that the price of a cryptocurrency will go up
Market CapThe total value of a cryptocurrency, calculated by multiplying the price per unit by the total number of units in circulation
MiningThe process of using computing power to validate transactions and create new units of a cryptocurrency
Multi-SignatureA security feature that requires multiple private keys to authorize a transaction
NodeA computer that participates in a blockchain network by validating transactions and blocks
Non-Fungible Token (NFT)A unique digital asset that represents ownership of a particular item or piece of content, such as artwork or music
Off-chainA term used to describe transactions or processes that occur outside of the blockchain
OracleA trusted source of information that can be used to trigger smart contracts on a blockchain
Peer-to-PeerA type of network in which computers communicate directly with each other, rather than through a central server
Private KeyA secret code that is used to sign transactions and authorize the transfer of cryptocurrency
Proof of Stake (PoS)A consensus mechanism used by some cryptocurrencies, in which validators are chosen based on the amount of cryptocurrency they hold
Proof of Work (PoW)A consensus mechanism used by some cryptocurrencies, in which validators are chosen based on the amount of computing power they contribute to the network
Public KeyA public code that is used to receive cryptocurrency
Pump and DumpA type of market manipulation in which a group of traders artificially inflate the price of a cryptocurrency and then sell their holdings at a profit
QR CodeA type of barcode that can be scanned with a smartphone to quickly and easily transfer cryptocurrency
SatoshiThe smallest unit of a bitcoin, named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto
Smart ContractA computer program that automatically executes the terms of a contract when certain conditions are met
StablecoinA type of cryptocurrency that is designed to maintain a stable value, often pegged to a fiat currency or commodity
TokenA unit of cryptocurrency that is created and managed on a blockchain
Trading VolumeThe total amount of cryptocurrency that is bought and sold on an exchange over a given period of time
UniswapA decentralized exchange (DEX) that allows users to trade cryptocurrencies without the need for a central authority or order book
WalletA software program or hardware device that stores cryptocurrency and allows users to send and receive it
WhitepaperA document that outlines the technology and vision behind a cryptocurrency or blockchain project
WhalesTerm used to describe individuals or entities that hold large amounts of cryptocurrency
WithdrawalThe process of moving cryptocurrency from an exchange or wallet to another location or account
XRPThe cryptocurrency used by the Ripple payment network
Yield FarmingThe process of staking cryptocurrency in order to earn rewards, often in the form of other cryptocurrencies or tokens
Zero-knowledge ProofA cryptographic technique that allows one party to prove to another party that a statement is true, without revealing any additional information about the statement
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