Aside from those I wrote in terminologies and phrases used in cryptocurrency as well as terminologies used in Defi there are still a lot of terms I forgot to add that might help you learn.

I thought I already wrote all the crypto terms and know it all but upon exploring I found out there are still a lot of terms that might be an alien to us, especially for newbie. It's an honor to share learnings to you as well. It's important to understand every term used in cryptocurrency for you to know what that term means.

In this article, I shuffle everything whether it is a trading term or in all over crypto terms.

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Airdrop

It refers to marketing campaigns of a certain coin. Coin creators provide their coins to existing community members to build their uses case and popularity. They usually give away a coin in exchange for simple tasks like sharing news on their social media, joining their Telegram group, retweet their tweets, and so on.

DAO

DAO stands for Decentralized Autonomous Organization which refers to an organization that runs by an application (computer program) instead of human inputs. To control this application, it is granted to everyone than a single central entity.

ERC

ERC stands for “Ethereum Request for Comments” it is a summation of proposed improvements to the Ethereum blockchain.

ERC-20

This is the standard wherein each Ethereum token complies. To define the way each token behaves to make the transactions predictable. Other Cryptocurrencies are also using the ERC-20 standard in piggybacking the Ethereum network in the process.

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EVM (Ethereum Virtual Machine)

This refers to a virtual machine that is sitting in the cloud effectively, turning completely and is used by all nodes in the network during blockchain confirmations. Allowing those nodes to execute random EVM Byte Code that is part of Ethereum protocols.

Halving

When miners approve transactions on the Bitcoin Blockchain they earned Bitcoin. Each block in the blockchain fills up with transactions, a certain amount of Bitcoin enters the marketplace. The number of Bitcoin that will be created is limited that is locked at 21 million. To ensure this cap being kept, the Bitcoin amount earned by miners for filling one block is halved after that block. That is the halving process. During the year 2140, all 21Million Bitcoin will be in circulation.

Hard Cap

Hard Cap means the creator sets the maximum amount to raise and stops offering coins at the figure being set, during an ICO (Initial Coin Offering).

Hash Rate

This is a measurement of performance that will show how many hashes per second a computer producing capability. Each hash attempting to find a block by creating a unique block candidate to test it against the network.

Hashing Power

This is a computer measurement of hash rate, which is measured in kH/s, MH/s, GH/s, TH/s, PH/s, or EH/s that depends on the hashes per second being produced. Like 1,000 kH/s = 1 MH/s – 1,000 MH/s = 1 GH/s – and so on and so forth.

Liquidity

This refers to cryptocurrency liquidity that is defined by how easily it can be bought or sold without influencing the overall market price.

Lock time

This is a transaction request that comes with a rule of delaying when it will be processed to a certain time or certain block in the blockchain.

Source: Finder.com

Related Articles;

Terminologies and phrases used in Cryptocurrency

Terminologies used in DeFi (Decentralized Finance)

Lead Image: From Unsplash via Andre Franciòs McKenzie

Closing Thoughts

There are still a lot of crypto terms that we have to know and learn what they mean, I will tackle them all in my upcoming articles.

I always like to write terms of crypto simply so a newbie can easily understand it. Exploring crypto is fun and exciting, every term you learn will add to your knowledge little by little.

If you want to learn more, stay tuned to my crypto terms series.