Altcoins Talks - Cryptocurrency Forum
Learning & News => Further Education => For Beginners => Terminology => Topic started by: Unknown on September 22, 2018, 12:07:17 PM
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I will add 50 of the many cryptocurrency terminologies
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.
30. Airdrop - it is a free crypto coin that is being dished out by a certain project to the wallets of the crypto community.
31. Forking - it is a network split that will create another crypto currency.
32. FUD - Fear, Uncertainty and Doubt. It's the way to scare people so they will be hesitant on buying cryptocurrencies.
33. Fork - when a copy of the blockchain is made and changes are also made to the code to create a new coin.
33. Gas - a measurement of how much processing is required by the ethereum network to process a transaction.
34. Whale - someone that owns absurd amounts of crypto-currency.
35. Bearish - an expectation that price is going to decrease.
36. Altcoin - coins aside from bitcoin.
37. Block - a block is group of bitcoin transactions that are being processed & confirmed.
38. Blockchain - a publicly shared record of every bitcoin transaction that has ever been processed.
39. Hash Rate - is a measurement of computer processing power of bitcoin miners.
40. Hard cap - The maximum projected amount during ICO token sale.
41. Soft cap - the minimum projected amount during ICO token sale.
42. Momentum - price movement.
43. ERC20 - a standard for creating ETH based tokens.
44. Crypto - short for cryptography or cryptocurrency.
45. Chop - directionless price movement that lacks momentum
46. Reversal - a change in price direction.
47. Miners - people who run computers to secure transactions on a blockchain.
48. Accumulation - buying an asset to acquire a sizable position.
49. Bounce play - when the price bounces up quickly after a dump.
50. Breakdown - price dropping below support.
Source: https://cryptominded.com/glossary-cryptocurrency-terms-need-know/
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I will update this into 75 terminologies, I just give only 50 maybe you could add yours, justpost in this thread
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thanks to the author for helpful information. You really helped me ::)
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thanks to the author for helpful information. You really helped me ::)
Your welcome posting good information is helping others to understand things. Stay tune for the terminology updates :)
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Hi dude. Usefull thread. But I want to ask deeply about point fourth that:
4. Tokens - Refers to the ‘currency’ of projects built on the ethereum network that have raised money via issuing their own tokens.
In that point only Ethereum network, how about other platform like Neo, Waves, XLM, etc. Is the name still token? Or having another name?
Thank you. 8) 8)
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Hi dude. Usefull thread. But I want to ask deeply about point fourth that:
4. Tokens - Refers to the ‘currency’ of projects built on the ethereum network that have raised money via issuing their own tokens.
In that point only Ethereum network, how about other platform like Neo, Waves, XLM, etc. Is the name still token? Or having another name?
Thank you. 8) 8)
Creating tokens is a much easier process as you do not have to modify the codes from a particular protocol or create a blockchain from scratch. All you have to do is follow a standard template on the blockchain – such as on the Ethereum or Waves platform – that allows you to create your own tokens. (source) (https://masterthecrypto.com/differences-between-cryptocurrency-coins-and-tokens/)
They are still called Tokens even they are built in other platform