Okay guys here are some terms used in the Crypto world that we all need to know their meanings.

Let's go.

Address

Addresses consist of between 26 and 35 characters and represent a unique wallet ID on the blockchain, much like an account number. They’re used when conducting transactions on the network, including the receipt, remittance, and storage of cryptocurrency.

Altcoin

At first I was confused about this coin, thinking it's a crypto coin on its own. Haha.

But it usually refers to any cryptocurrency coin other than Bitcoin, which was the original cryptocurrency. And there are over 1000 cryptocurrencies in the market.

Bagholder

This is the name given to an investor who’s left holding cryptocurrency after it has dropped in price.

Block

These are packages of permanently-recorded data on the blockchain network.

Blockchain

Some days back I published a post about blockchain and how it works you can check that out.

This is a distributed ledger secured using cryptography.
It’s a database that’s accessible for everyone to read.
Even so, data can only be changed by ledger owners.
Data isn’t stored on a centralized server, but is instead shared by thousands of computers around the globe.

Halving

Recently we saw bitcoin halve, but what does it mean.

Bitcoin halving is a process of dividing the number of generated rewards per block in order to maintain the total supply of Bitcoin, which will not exceed 21 million. Block rewards are the main engine of Bitcoin mining and, therefore, the main power behind the operation of the network.

Bitcoins have a finite supply which limits the number of coins issued to 21 million.

The number of Bitcoins generated decreases by 50 percent every four years, a process that’s known as halving.
The final halving will occur in 2140.

Fiat Currency

A fiat currency is any currency that’s issued by a government or a central bank, such as the dollar.

Hot wallet

A hot wallet is connected to the internet and used to hold cryptocurrency for everyday transactions.
Because of the increased security risk over a cold wallet, a hot wallet should not store large amounts of currency.

Mining

Cryptocurrencies aren’t printed like traditional currencies – they are mined.
This process uses computer hardware to solve complex mathematical problems and decrypt hashes.
Miners are rewarded for their work with cryptocurrency coins.

Mining rig

Cryptocurrency mining requires a huge amount of power.
Mining rigs consist of multiple graphic processors (GPUs) to increase processing power.

Moon

When a cryptocurrency coin goes on a market run and drives the price up quickly, it’s referred to as mooning.

Node

A blockchain isn’t stored in a central location.
In fact, it’s distributed to any number of computers – called nodes – which host it.
Each node is instrumental in verifying the ledger within the blockchain.

Private key

This is the key – or password – which unlocks a wallet.
It shouldn’t be shared with anyone.

Public key

A public key is a wallet address that can be shared with other parties to effect transactions.

Thanks for reading, you can sure make a suggestion.