Learn Glossary List – Helena Bitcoin Mining

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Altcoin – short for “altcoin”. A term used to refer to any cryptocurrency other than Bitcoin.

Airdrop – Distribute free tokens to promote a new project or encourage the community to adopt them.

Bitcoin – the world’s first and largest cryptocurrency by market capitalization. It was launched in 2009 by a creator under the pseudonym “Satoshi Nakamoto”.

Blockchain – a type of immutable distributed ledger technology used to record data.

Bear market – a long period of falling prices.

Bull market – a long period of rising prices.

Cardano – A blockchain platform designed to be an alternative to Ethereum. Cardano was developed through a peer-review process and the implementation of certain technologies, such as Proof of Stake (PoS), in order to be more scalable.

Central Bank Digital Currency (CBDC) – A digital version of government-issued fiat currency that is managed by a central bank.

Encoding – the scientific study and practice of encoding and decoding data.

dapps – an acronym for “Decentralized Applications”. Independent applications that run on smart contracts for distributed networks, which are programs that automatically execute (for example, a transaction) when specific conditions are met.

DeFi – Short for “Decentralized Finance”, a collective term for all finance-based dapps created on public blockchains.

Digital currency – a term referring to any money that exists in a purely digital form and is transmitted electronically over the Internet.

Dogecoin – The original cryptocurrency of the Dogecoin blockchain. A popular blockchain project built around the viral internet meme of a dog from Shiba Inu.

Ethereum – the blockchain that powers the world’s second largest cryptocurrency by market capitalization. The network is called Ethereum and the actual currency is called ether. The Ethereum network directly integrates smart contracts and provides the basis for many other digital currencies and projects, including decentralized applications (dapps), non-fungible tokens (NFTs), and decentralized finance (DeFi).

Fiat – A term referring to any currency issued by the government, such as the US dollar or the Chinese yuan.

FOMO – an acronym for “fear of missing out.” A common acronym used to describe the anxiety of missing out on a potential opportunity.

FUD – an acronym for “Fear, Uncertainty, Doubt”. It is commonly used in the crypto space as a label for spreading negative news or information.

Gas – Ether that must be spent as a fee in order to execute a transaction or contract on the Ethereum network.

Halving – 50% reduction in block mining rewards for a specific cryptocurrency. For bitcoin, it is programmed to occur every four years.

HODL – A deliberate misspelling of the word “Hold” and a crypto slang term used to promote or describe the idea of ​​never selling cryptocurrencies. Retroactively the caps are set for “hold on to dear life”.

Inflation – an economic term used when the prices of goods and services rise, resulting in a decrease in the purchasing power of fiat currency.

Liquidity – A term to describe how easy it is to buy or sell an asset at any given price, size, and time.

Market value – a term used to describe the total value of a project, company, or other entity. For cryptocurrencies, the market capitalization is calculated by taking the current price of the project token and multiplying it by the total circulating supply.

Mining – The process of using computers to verify and add new data to the blockchain ledger, as well as adding new coins for circulation.

NFTs – short for “non-fungible tokens.” NFTs are digital tokens used to prove ownership of unique tangible and intangible items.

Private key – a code that proves a person owns a crypto wallet and allows a person to access the funds inside.

public key – a token used to generate an address so that the crypto wallet can receive transactions.

Public Ledger – A transparent, distributed digital record of transactions that can be downloaded by anyone around the world.

Sharding – Refers to splitting a blockchain into several identical chains called ‘shards’. All of these parts implement transactions and smart contracts in parallel, making the network more efficient and scalable.

Smart Contract – A special type of computer program that automatically executes a transaction whenever a predefined input is received.

Stablecoin – a type of digital asset that maintains a fixed value by being tied to another asset, such as gold or the US dollar.

Token – a subset of cryptocurrencies. Tokens are units of value issued by platforms built on top of existing block chains.

Volatility – a word used to describe how much the price of a cryptocurrency deviates from the average over a given period.

Wallet – hardware or software that stores a pair of user’s private and public keys and interfaces with the blockchain network.

Whale – Term used to describe investors who own large amounts of specific cryptocurrencies.

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