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$303,541,890,991
$14,285,338,557
56%

Glossary

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ANN

The meaning of this word is “Announcement.” It is used in forum discussions or when the launch of a new cryptocurrency project is announced

Altcoin

This is the short version of “Alternative coin.” Simply said “altcoin” is every other cryptocurrency different than the main ones – Bitcoin, Ethereum, and Ripple.

ATH

Also known as “All time high.” The word is used to describe cryptocurrencies with huge success that have achieved all of their goals, and they are trading on their highest price ever achieved.

b

Bagholder

This is a crypto investor or trader who is supporting a certain cryptocurrency for far too long even if it’s dead or abandoned.

Bit

The meaning of this term is a unit which designates a sub-unit of 1 Bitcoin. For example, a single Bitcoin is equal to 1,000,000 bits.

Bitcoin Address

It is a unique personal identifier that plays the role of a virtual location where cryptocurrencies can be sent. It isn’t intended to be permanent and cannot hold a balance.

Block Hight

The term refers to the number of blocks that are connected in the blockchain. The first block of this blockchain is called a Genesis Block and is located at height 0.

Blockchain

This is a continuously growing digital chain of blocks, which store information. The blocks are linked and secured by using cryptography.

Bearwhale

A person who owns a massive amount of cryptocurrencies and uses them to manipulate the crypto market by driving the price down in order to profit from it later.

Bitcoin

This is the name of the first cryptocurrency, created in 2009 by Satoshi Nakamoto. Nowadays this is the most famous and expensive currency on the crypto market.

Bitcoin Wallet

The name of a software program that stores bitcoins. It can hold an unlimited amount of addresses and gives ownership of the balance inside to its user.

Block Reward

The block reward is given to the miners when they successfully mine a block. Block rewards generate new coins, a small amount of which is taken by the miner as a prize.

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d

Dash

This is an open source decentralized altcoin, which was launched in January 2014.

Double Spending

This is one of the flaws in the cryptocurrency system. The term is used when a digital currency is spent more than once for a single purchase.

Distribution Ledger

This is a database that is spread across multiple networks, CPU’s, websites, and nodes. Each of the receivers saves an identical copy of the leger, which updates itself automatically in a period of time.

e

Enterprise Ethereum Alliance (EEA)

This is the name of an organization that aims to bring together start-ups, academicians, and Ethereum experts to build and support the Ethereum blockchain. It was founded by a group of popular companies in February 2017, some of which are Microsoft, J.P. Morgan, and BlockApps.

Ethereum Smart Contract

These are specific smart contracts, which are used on the Ethereum platform. They allow the performance of transactions without the need of third parties.

Ether

The fuel needed for operating by the Ethereum platform is called Ether. It is the native currency of the platform and is used as a payment method by its clients.

f

FOMO

This is an abbreviation of the phrase “Fear Of Missing Out.” When the cryptomarket goes down, some of the investors take irrational decisions, driven by the fear of losing their profit.

Fiat

Also known as “Fiat Money” stands for the centralized money that the government has declared as legal. For example, USD, EURO, and GBP are fiat money.

FUD

The word is used to describe people who spread fear, uncertainty, and doubt about potential cryptocurrency project.

g

Gox Crisis

This name was given to a specific critical moment in the history of Bitcoin when thousands of Bitcoins that worth more than $480 million, disappeared due to bad management of the currency.

h

HODL

This is a wrong spelling of the word “hold.” A drunk man on the Bitcoin talk forum used in for first time in 2013. He wrote with capital letters “I AM HODLING.” Since then, the word is used as jargon for long-term investor or trader.

Hash Rate

This is a measuring unit that calculates how much power the current cryptocurrency is consuming to be continuously functional. It is measured in hashes per second.

i

Initial Coin Offerings (ICOs)

This is a term used for a crowd sale, which offers investors to buy coins or tokens from new cryptocurrency project. During the ICO period, the coins can be bought on a lower price and most of the time buyers receive bonuses with their purchase.

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l

Lambo

The word is a shortened form of “Lamborghini,” which is the most desired car brand by investors who have made of good fortune from cryptocurrency. The term “Lambo” is used to describe massive income returns that can buy a $100 000 000 Lamborghini.

Litecoin

This is a famous peer-to-peer cryptocurrency project, which is based on the proof-of-work scrypt. It was created by the computer engineer - Charlie Lee, at the end of 2011.

m

Mining

This is a process during which cryptographic problems are being solved by computing hardware, and miners receive crypto coins as a reward for it. The mining can be done with severe computing equipment, and the process raises the electricity bills of the building in which the hardware are located.

Multisignature (Multisig)

This is a theft resistant address which has a high level of security and requires more than one signature to execute a transaction.

Moon

The term is used to describe a successful cryptocurrency project that has reached an extreme spike in the price, which is so big that the coin is “going to the moon.”

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p

P2P network

Also known as “Peer-To-Peer Network” is a distributed application which shares information between computer systems called “peers.” The data is shared directly between the peers without the need of a third party or central server.

Peer-to-Peer

This is a computing process thanks to which information can be shared directly with the other devices in the network, without the need of a central computer (server).

Private Key Cryptography

This is an encrypted algorithm with a high level of security. It uses two types of keys – private key and public key. Each of them performs a unique action – the private key is used to decrypt, as opposed to the public key which is used to encrypt.

Pump and Dump

A name of a fraudulent practice for encouraging investors to buy shares in a company with the intention to boost their price artificially. When the price rises, the predators of the scheme sell their shares for more money and leave the project.

Payment Processors

These are third party companies which are appointed by merchants in order to handle the transactions for them. Usually, the processors are two types: front-end and back-end.

Private Key

This is a unique code that allows access to the currencies in a specific digital wallet. The private key plays the role of a personal password which has to be kept in secret from others.

Public Key

This a large code that is used to encrypt information. It can be generated by software or provided by a trusted authority. It shares half of the encryption code of the Private Key Cryptography, and its only use is to encode messages.

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r

Rekt

– A jargon word that means “wrecked.” It refers to traders or investors who have lost everything due to a price downfall and are completely “destroyed” by the cryptocurrency market.

Ripple

This is one of the 10 most popular cryptocurrencies on the market. It is a distributed network that can occur immediate transactions. The project was created in 2004 by Ryan Fugger and upgraded in 2012 by his partners - Arthur Britto and David Schwartz.

s

Satoshi Nakamoto

This name is used by the creator of Bitcoin despite it’s not his real one. He is also the creator of the Bitcoin talk forum and posted the first message in 2009 under the nickname “Satoshi.”

Shitcoins

Every new cryptocurrency project can be called with that name by the people who dislike it. Although, this doesn’t affect its trades or investors.

Software Wallet

– This is an application that can be downloaded and installed on computers, smartphones, and other smart devices. The owner of a software wallet can store his cryptocurrencies in it.

Shill

Also called “Shilling” is a hype around certain cryptocurrency, created with the intention to promote its advantages. The Shill is a benefit for the investors of the specific currency because it raises the coins value.

Signature

An operation that proves who is the owner of a specific digital wallet. The signature gives him permission to send and receive transactions.

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w

Web Wallet

This is a wallet that can provide easy access to the funds inside and can be hosted by a third party.

Whales

This word is used to describe investors and traders with “fat” crypto accounts who own a significant percentage of the successful cryptocurrencies. Holding a massive amount of funds, the whales can manipulate the crypto market and bring ups and downs of the prices whenever they want.

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