Crypto Glossary

Terms and definitions related to cryptocurrency and blockchain industry.

ACH (Automated Clearing House)

ACH (Automated Clearing House) is an electronic network for processing financial transactions in the United States, including direct deposits and bill payments.

AML (Anti-Money Laundering)

AML (Anti-Money Laundering) refers to regulations and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.

AUM (Assets Under Management)

AUM (Assets Under Management) refers to the total market value of assets that an investment firm or financial institution manages on behalf of its clients.

Account Number

An account number is a unique identifier assigned to a specific bank account for the purpose of routing transactions correctly.

Airdrop

An airdrop is a distribution of cryptocurrency tokens to multiple wallet addresses for free.

All-Time High (ATH)

All-Time High (ATH) refers to the highest price level ever reached by a cryptocurrency or asset since its inception.

Altcoin

Altcoin is a term used to describe any cryptocurrency other than Bitcoin.

Avalanche

Avalanche is a high-performance blockchain platform designed for decentralized applications and custom blockchain networks, known for its rapid transaction speeds and low costs.

BEP-20

BEP-20 is a technical standard for creating tokens on the Binance Smart Chain, similar to Ethereum's ERC-20.

BIC (Bank Identifier Code)

A BIC (Bank Identifier Code) is a unique code that identifies banks and financial institutions globally, facilitating secure and accurate international transactions.

BNB

BNB is the native cryptocurrency of the Binance ecosystem, used for trading fee discounts, transaction fees, and other utilities on the Binance platform.

Bear market

A bear market is a prolonged period of declining asset prices, typically by 20% or more from recent highs.

Bitcoin

Bitcoin is the first and most widely recognized cryptocurrency, created by an unknown person or group using the pseudonym Satoshi Nakamoto.

Bitcoin Cash

Bitcoin Cash is a cryptocurrency that emerged from a hard fork of Bitcoin, aiming to increase transaction speeds and reduce fees by increasing block size.

Block

A block is a unit of data that contains a collection of transactions and is added to a blockchain in a sequential, immutable manner.

Block Reward

A block reward is the incentive given to miners or validators for adding a new block to the blockchain.

Blockchain

Blockchain is a decentralized digital ledger that records transactions across a network of computers in a secure, transparent, and immutable manner.

Bull market

A bull market is a prolonged period of rising asset prices, typically driven by investor optimism and strong economic fundamentals.

CBDC (Central Bank Digital Currency)

A CBDC (Central Bank Digital Currency) is a digital form of fiat money issued and regulated by a country's central bank.

Cardano

Cardano is a blockchain platform focused on sustainability, scalability, and transparency, using a unique proof-of-stake consensus mechanism called Ouroboros.

Circulating Supply

Circulating Supply refers to the total number of a cryptocurrency or token that is currently available and actively circulating in the market.

Cryptocurrency

Cryptocurrency is a digital or virtual currency that uses cryptography for security and operates on a decentralized network, typically based on blockchain technology.

DAO (Decentralized Autonomous Organization)

A DAO (Decentralized Autonomous Organization) is an organization governed by smart contracts on a blockchain, with decisions made by member voting.

DApp

A DApp (Decentralized Application) is an application that runs on a blockchain network, leveraging smart contracts for decentralized functionality.

DEX (Decentralized Exchange)

A DEX (Decentralized Exchange) is a platform that allows users to trade cryptocurrencies directly with one another without relying on a central authority.

DYOR (Do Your Own Research)

DYOR (Do Your Own Research) is a recommendation for investors to thoroughly investigate and understand a project before investing.

DeFi (Decentralized Finance)

DeFi, or Decentralized Finance, refers to a broad range of financial services and applications built on blockchain technology, enabling peer-to-peer transactions without intermediaries.

Dogecoin

Dogecoin is a cryptocurrency originally created as a joke, featuring the Shiba Inu dog meme, but has since gained a large and active community.

ERC-20

ERC-20 is a technical standard for creating and implementing tokens on the Ethereum blockchain.

ERC-721

ERC-721 is a technical standard for creating non-fungible tokens (NFTs) on the Ethereum blockchain.

EVM (Ethereum Virtual Machine)

EVM (Ethereum Virtual Machine) is the runtime environment for executing smart contracts on the Ethereum blockchain.

Ether (ETH)

Ether (ETH) is the native cryptocurrency of the Ethereum blockchain, used to pay for transaction fees and computational services.

Ethereum

Ethereum is a decentralized blockchain platform that enables the creation and execution of smart contracts and decentralized applications (dApps).

FCA (Financial Conduct Authority)

The FCA (Financial Conduct Authority) is the regulatory body responsible for overseeing the financial services industry in the United Kingdom.

FOMO (Fear of Missing Out)

FOMO (Fear of Missing Out) is a psychological phenomenon where individuals feel anxiety or regret about missing out on potentially rewarding opportunities, leading them to make impulsive decisions or irrational investments.

FUD (Fear, Uncertainty, and Doubt)

FUD (Fear, Uncertainty, and Doubt) is a tactic used to spread negative or misleading information about a cryptocurrency or asset, often to create fear and undermine investor confidence.

Fantom

Fantom is a high-performance, scalable, and secure smart contract platform designed for decentralized applications (dApps) and digital assets.

Faucet

A faucet is a reward system in the cryptocurrency ecosystem that distributes small amounts of cryptocurrency to users for completing simple tasks or activities.

Fiat

Fiat currency is government-issued money that is not backed by a physical commodity but rather by the government that issues it.

Fork

A fork is a split in a blockchain that creates two separate paths, either as an update to the protocol or a creation of a new blockchain.

Gas

Gas is the unit of measurement for computational work required to execute transactions and smart contracts on the Ethereum blockchain.

Gwei

Gwei is a denomination of Ether (ETH) used to measure and pay for gas fees on the Ethereum network.

HODL

HODL is a slang term in the cryptocurrency community that originated from a misspelling of "hold," representing the strategy of holding onto cryptocurrencies instead of selling them, regardless of market fluctuations.

Halving

Halving refers to an event in a cryptocurrency's protocol where the block reward for miners is reduced by half, occurring at regular intervals and often impacting the coin's supply and price dynamics.

Hard Fork

A hard fork is a significant change to a blockchain's protocol that is not backward-compatible, resulting in the creation of a new blockchain if consensus is not reached.

IBAN (International Bank Account Number)

An IBAN (International Bank Account Number) is a standardized international numbering system for identifying bank accounts across borders.

KYB (Know Your Business)

KYB (Know Your Business) is a regulatory process used to verify the identity and legitimacy of businesses.

KYC (Know Your Customer)

KYC (Know Your Customer) is a regulatory process used to verify the identity of individuals to prevent fraud and money laundering.

Layer 1

Layer 1 refers to the base layer of a blockchain network, responsible for the primary functionality and security of the blockchain.

Layer 2

Layer 2 refers to secondary protocols or solutions built on top of a Layer 1 blockchain to improve its scalability and efficiency.

Ledger

A ledger is a record-keeping system that tracks all transactions and balances in a blockchain network.

Mainnet

A mainnet is the primary and fully operational blockchain network where real transactions occur using actual cryptocurrency.

Market Cap

Market Cap, short for Market Capitalization, is a measure of the total value of a cryptocurrency, calculated by multiplying its current price by the total circulating supply of coins or tokens.

MiCA (Markets in Crypto-Assets Regulation)

MiCA (Markets in Crypto-Assets Regulation) is a regulatory framework proposed by the European Union to govern the issuance, trading, and custody of cryptocurrencies and crypto-assets.

Miner

A miner is a participant in a blockchain network who uses computational power to validate transactions and add them to the blockchain.

NFT (Non-Fungible Token)

An NFT (Non-Fungible Token) is a unique digital asset representing ownership of a specific item or piece of content, verified using blockchain technology.

Node

A node is a computer that participates in a blockchain network, maintaining a copy of the blockchain and helping to verify transactions.

Off Ramp

An off-ramp is a service or platform that allows users to convert cryptocurrency into fiat currency.

On Ramp

An on-ramp is a service or platform that allows users to convert fiat currency into cryptocurrency.

Oracle

An oracle is a service that provides external data to a blockchain, enabling smart contracts to interact with real-world information.

Polkadot

Polkadot is a multi-chain blockchain platform designed to enable interoperability and scalability for various blockchains.

Private Key

A private key is a secure, alphanumeric code used to authorize and control access to one's cryptocurrency holdings.

Proof of Reserves

Proof of Reserves is a verification method used by financial institutions to demonstrate that they hold sufficient assets to cover customer deposits.

Proof of Stake (PoS)

Proof of Stake (PoS) is a consensus mechanism where validators are chosen to create new blocks and validate transactions based on the number of coins they hold and are willing to "stake."

Proof of Work (PoW)

Proof of Work (PoW) is a consensus mechanism where miners solve complex mathematical problems to validate transactions and secure the blockchain.

Public Key

A public key is an alphanumeric code associated with a private key, used to receive cryptocurrency and verify digital signatures.

Routing Number

A routing number is a nine-digit code used in the United States to identify the financial institution responsible for processing a transaction.

SEC (Securities and Exchange Commission)

The SEC (Securities and Exchange Commission) is a U.S. federal agency responsible for regulating and overseeing securities markets to protect investors and maintain fair and efficient markets.

SEPA (Single Euro Payments Area)

SEPA (Single Euro Payments Area) is a payment integration initiative in Europe that simplifies bank transfers denominated in euros across member countries.

SWIFT (Society for Worldwide Interbank Financial Telecommunication)

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a global network that facilitates secure and standardized financial transactions between banks and financial institutions.

Satoshi

A Satoshi is the smallest unit of Bitcoin, equivalent to one hundred millionth of a Bitcoin (0.00000001 BTC).

Satoshi Nakamoto

Satoshi Nakamoto is the pseudonymous creator of Bitcoin and the author of its original whitepaper.

Sharding

Sharding is a scaling solution used in blockchain networks to improve performance and scalability by partitioning the network into smaller groups, called shards, to process transactions in parallel.

Smart Contract

A smart contract is a self-executing contract with the terms of the agreement directly written into code, running on a blockchain.

Soft Fork

A soft fork is a backward-compatible update to a blockchain's protocol, allowing updated and non-updated nodes to coexist.

Sort Code

A sort code is a six-digit number used in the UK to identify a specific bank branch for domestic financial transactions.

Stablecoin

A stablecoin is a type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset or a basket of assets.

Staking

Staking involves participating in a blockchain network by locking up cryptocurrency to support its operations and earn rewards.

Stellar

Stellar is a decentralized blockchain platform designed to facilitate fast, low-cost cross-border payments and digital asset issuance.

TRC-20

TRC-20 is a technical standard for creating and implementing tokens on the TRON blockchain, similar to Ethereum's ERC-20.

Testnet

A testnet is a separate blockchain network used for testing and development purposes without using real cryptocurrency.

Token

A token is a digital asset created on a blockchain, representing ownership, utility, or other rights within a specific platform or ecosystem.

Tokenomics

Tokenomics refers to the economic model and monetary policy of a cryptocurrency or blockchain project, including its token distribution, supply, and incentives.

Total Supply

Total Supply refers to the maximum amount of a cryptocurrency or token that will ever exist.

TradFi (Traditional Finance)

TradFi, or Traditional Finance, refers to the conventional financial system comprising banks, financial institutions, and regulatory bodies that facilitate economic activities.

Transaction Hash

A transaction hash is a unique identifier generated for each transaction on a blockchain, used to uniquely identify and track the transaction's details.

Transactions Per Second (TPS)

Transactions per Second (TPS) is a metric used to measure the capacity of a blockchain network to process transactions within a given time frame.

Tron

TRON is a blockchain-based decentralized platform aimed at building a free, global digital content entertainment system with distributed storage technology.

Validator

A validator is a participant in a proof-of-stake blockchain who is responsible for verifying transactions and maintaining the network's integrity.

Wallet

A wallet is a digital tool that allows users to store, manage, and transact with their cryptocurrencies securely.

Wallet Address

A wallet address is a unique alphanumeric identifier used to receive cryptocurrency transactions.

Web1

Web1 refers to the early stage of the internet characterized by static web pages and limited interactivity.

Web2

Web2 represents the current stage of the internet characterized by dynamic, interactive websites and user-generated content.

Web3

Web3 envisions a decentralized internet infrastructure built on blockchain technology, emphasizing user control over data and digital assets.

Whale

A whale is a term used in the cryptocurrency community to refer to an individual or entity that holds a significant amount of cryptocurrency, often capable of influencing market prices and trends.

White Paper

A white paper is a detailed document that explains the technical and business aspects of a new cryptocurrency or blockchain project.

Wire

A wire transfer is an electronic method of sending funds directly from one bank account to another.

XRP

XRP is the native cryptocurrency of the Ripple network, designed to facilitate fast and cost-efficient cross-border payments.

ZCash

ZCash is a cryptocurrency focused on privacy and anonymity, using advanced cryptographic techniques to shield transaction details.

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