There are many abreviation and terms in cryptocurrency which we used in every cryptocurrency topic.Understanding this basic terminology of cryptocurrency is an important steps in order to became an expert in cryptocurrency. Understanding such terminology is also important for those who are new in cryptocurrency.i had collected some important term form different source including books . And here i am presenting my collection of all those terms and terminology used in cryptocurrency.
Altcoin- Those cryptocurrencies other than Bitcoin.
ATH- All time high is an abreviation used to refer those cryptocurrency reaching their highest price
Address- it consist of between 26 and 35 characters representing a unique wallet ID on the blockchain
Block- section of transaction data recorded on blockchain
Blockchain- A Chain of information consisting of multiple blocks.
Block reward- A reward received by miners when a block is created. Like 50 btc per block
Bot- An artificial inteligence that has an autimates trading capacity.
Bubble- extremely overbought market which usually followed by crash
Buy wall- Volum of people purchasing a specific crypto at a given time. This indicate a pump is taking place
Bag holder- name given to those invetors who is left holding crypto after it has dropped its price
Cloud mining- an organisation offereing those mining equipment from a remote location
Cold wallet/ storage- offline cryptocurrency storage which doesnt connect to internet . This the most safest mode of storage
Confirmation- transaction which has been verified by miners and added in the block
Consensus- an agreement which is recah when all network participent approve the validity of the transaction
Dry wallet- Short term trading where position are taken in morning and sold off in afternoon
Digital asset- those crypto which are not traded as coin or token
Dead cat bounce- short term marketing recovery resulting in further downtrend.
Decentralisation- Not controled or regulated by government of organisation
Difficulty- how hard it is to mine one block.
Exchange- place where people can buy , sell or trade cryptocurrency
Faucet- a reward system to earn free cryptocurrency
Fiat- paper currency established by government like usd, euro
FUD- Fear, uncertainty,doubt commonly for new commers who belive in scam
Fork- a process in blockchain that split into two seperate chain to form a new rule
Genesis block- the first block in the blockchain
Hash- a string of data related to a specific crypto mining
Hash rate- speed at which a piece of hardware can decrypt
Hodl- meaning do not sell
Halving- decreasing the block reward by 50%. Like in bitcoin reducing block rewaed from 12.5 to 6.25
ICO- initial coin offering. Refering to presale of an upcoming cryptocurrency
Ladering- investor who set incremental buy or sell order
Mining- a mathematical algorithm used to obtain cryptocurrency uaing computational power
Miner- people who are mining cryptocurrench
Multi sig- multi signature refers to a stuatiom where multiple signature are required to authorize a transaction
Mining rig- one or more GPU set up in sequence to mine
Moon- an unimaginable high level of value
Node- a network point within the blockchain
P2P- peer to peer is a mode of transaction made between individuals withouth any restriction or interference
Paper wallet- type of wallet involving printing of private key in paper
Pool- a group of miner combining their resources to work as a group and perfrom more efficiently
Private key- a unique signature or password for a wallet
Public key- the transaction address
Pump and dump- a form of market manupulation which increase the market price and then decrease the price causing a collapse.
Satoshi(sat)- a unit of measurement in cryptocurrency.eg 0.00000001 sat
Sell wall- the volumn of people selling a crypto at a given time.
Shill- a person promoting a coin because they own it and want its value to moon.
Stop loss- type of order which is completed on an exchange
Sharding- a scaling method that enables node to keep partial copies of blockchain
Smart contract- it is a computer program for storing in blockchain inforced by network participient according to the term of contract
Technical analysis- an act of analysing crypto chart to predict the future
Transaction fee- a fee that imminent when trading crypto.
Volatile- movement in the price of a cryptocurrency overtime
Whale- person that hold a large portion od crypto or buy/ sell a large portion of crypto
Wallet- a digital address used to store cryptocurrency coin and token
Hope this help all those beginners and newbies out here in publish0x. Share your comment below if i missed any thing. In my next article i wil be writing about different abreviation used in cryptocurrency
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