Glossary of Cryptocurrency Terms
Attack 51%
When mining cryptocurrency, it means that the person or persons in the network capture more than half of the production power. People who have this power can intervene in a number of transactions on the network without permission.
Adress
It is an encrypted set of characters used to make and receive payments on cryptocurrency networks. It serves the same function as the IBAN number for bank accounts.
Altcoin
It is the general name given to all cryptocurrencies other than Bitcoin. It is used as an abbreviation of "Alternative Coin".
Arbitrage
It is a trading transaction that refers to the instant price difference that occurs on different exchanges, which can occur not only in cryptocurrency markets but in all commodities traded.
ASIC Miner
They are high-performance and low-cost devices specially built for the mining of any cryptocurrency.
Bear Market
It is a term that indicates that the market is bearish and may be bearish in the coming days.
Bitcoin
It was the first cryptocurrency to be created. Its abbreviation is BTC and its symbol is ฿.
Bitpay
It is a company that thinks it is possible to pay using Bitcoin or cryptocurrency.
Blockchain
It is the technology underlying Bitcoin and most cryptocurrencies.
Block Reward
When a miner on the network successfully completes a transaction, the system rewards them with Bitcoin. These rewards are called block rewards.
Bullish market
It is a term that indicates that the market is bullish and may be bullish in the coming days.
BTC
It stands for Bitcoin. Just like the abbreviation for United States Dollar is USD.
Fork
An update to a cryptocurrency may not be adopted by people across the entire network. This creates two different blockchains between those who adjust the system according to the regulation and those who do not, resulting in two different cryptocurrencies. For example, after the Bitcoin fork, Bitcoin Cash and Bitcoin Gold were created.
Difficulty
The numerical value of the time it takes to produce a block during cryptocurrency production. The harder the block problem is to solve, the longer it takes.
ERC20
The rules that all cryptocurrencies that will use the Ethereum network must follow are called ERC20. By applying these rules, altcoins produced on the Ethereum network can be stored in wallets that support this rule.
FOMO
Fear of Missing Out, is a term also used in relation to cryptocurrencies. It is the situation of buying a rising product with the fear of "losing the opportunity".
Genesis Block
This is the name given to the first block created in a blockchain.
Golden Cross
A Golden Cross is a situation where the short-term moving average crosses the long-term moving average upwards. This can be interpreted as a signal that an uptrend will begin in the markets.
Halving
The block rewards of a cryptocurrency decrease periodically. This is called halving.
Hashrate
The hardware performance of mining computers, usually expressed in Hash per Second. Hashrate is the speed of solving a problem or mathematical operation in blocks.
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