The 50 comprehensive vocabularies of cryptocurrency

Digital money known as cryptocurrencies is stored on blockchains, which are decentralized computer networks. The most significant and well-liked cryptocurrencies include Tether, Cardano, Ethereum, USD Coin, Binance Coin, and Bitcoin.

Cryptocurrencies are here to stay and are only going to get bigger, with new ones appearing all the time. The leading cryptocurrencies, Bitcoin and Ethereum, have demonstrated their dependability, which is fueling their growing appeal. This cheat sheet includes the key concepts you should be aware of in order to be prepared for your cryptocurrency experience, whether you want to engage in cryptocurrency trading or you just want to learn more about it.

Consider this handy sheet as a set of navigational markers for the cryptocurrency world.

1.51% Attack

A majority attack that happens when one person or group of individuals controls more than 50% of the computing power of a network. With complete control over the network, the entity may stop mining, modify or cancel transactions, and reuse money, all of which can have a detrimental impact on a cryptocurrency.

2.Addresses

A unique address on the blockchain that indicates the location of a coin. The ownership information for the currency is kept here, and any modifications made while trading are recorded there as well. While addresses vary in appearance between cryptocurrencies, they typically consist of a string of more than 30 characters.

3.Airdrop

A marketing initiative that describes the rapid dissemination of a cryptocurrency throughout a populace. It can happen when a cryptocurrency's developer gives their coin to low-ranked traders or active community members in an effort to increase its usage and notoriety. They can be distributed for free or in return for doing easy activities like telling friends about the coins.

4.Algorithm

Computer program that has mathematical instructions encoded into it and uses them to get a particular result.

5.All-time high

Highest price ever achieved by a cryptocurrency. Abbreviated to ATH.

6.All-time low

Lowest price ever achieved by a cryptocurrency. Abbreviated to ATL.

7.Altcoins

A grouping of all coins that doesn't contain Bitcoin, the original and most popular cryptocurrency. Altcoins include Ripple and Ethereum.

8.Anti-money laundering

International rules and legislation aimed at stopping criminals from converting cryptocurrency profits into cash in the real world. Also known by the initials AML.

9. Application- specific intergrated circuit

Hardware for computers, like a graphics card or CPU, that is intended to mine bitcoin. ASICs are designed especially to efficiently tackle hashing issues.

10.Arbitrage

The process of purchasing something from one exchange and selling it to another if there is a profitable margin between them. At any given time, a number of exchanges may trade the same coin at various rates.

11.Atomic Swap

A means of enabling direct and affordable bitcoin exchanges across different types at market rates without requiring buyers or sellers.

12.Bag

A large quantity of units in a certain cryptocurrency.

13.Bear, Bearish

If the price of a cryptocurrency has a negative price movement.

14.Bear Trap

A gang of traders is using this approach to try to manipulate the price of a cryptocurrency. This gang sets up a bear trap by selling all of its bitcoin at once, deceiving the market into believing a drop is imminent. Other traders then sell their holdings, which lowers the price even further. The people who laid the trap later let it go and repurchase their possessions at a discounted cost. Then, the price as a whole rises, enabling them to earn a profit.

15.Bitcoin

The original cryptocurrency. It was made in 2008 by a single person or a group of people going by the pseudonym Satoshi Nakamoto. It was meant to be a decentralized, peer-to-peer electronic currency system.

16.Block

Blocks comprise the blockchain. Every block is essentially a bag of data that can be opened and inspected at any moment, including a history database of all bitcoin transactions completed up until the block is frozen as a permanent record.

17.Block Explorer

A cryptocurrency's blockchain may be explored online with this tool, which allows you to observe and track all transactions as they happen in real time. Blockchain analysis may be performed via block explorers, which can offer data on the overall network hash rate, currency supply, increase in transactions, and other topics.

18.Block Height

It is used to describe the quantity of linked blocks in a blockchain. For instance, the initial block, known as the genesis block, would be Height 0.

19.Block Reward

A type of reward given to the miner who correctly computes the block's hash (verification). A part of the new coins created throughout the blockchain's transaction verification process are awarded to the miner.

20.Blockchain

A digital record of every transaction ever done with a certain cryptocurrency is called a blockchain. It is made up of separate blocks connected to one another by a cryptographic signature. A new block is added to the chain whenever the capacity of an existing block is surpassed. The blockchain has to match every copy since it is constantly replicated and stored on thousands of computers worldwide. It is regarded as decentralized since there isn't a master copy kept in a single place.

21.BTFD

Acronym for "Buy the F$%king Dip".

22.Bull / Bullish

If the price of a cryptocurrency has a positive price movement.

23.Burned

A coin in a certain cryptocurrency is considered to have been burnt if it has become unspendable.

24.Buy the F$%king Dip

A less-than-savory phrase used when you're (enthusiastically) telling someone a currency has dipped to a low value and should be bought.

25.Buy Wall

A buy wall occurs when a sizable limit order is placed to purchase a cryptocurrency when its value hits a particular level. This can keep a cryptocurrency from dropping below that amount because, when the order is executed, demand will probably exceed supply.

26.CAP

Shorthand for market capitalization

27.Central Ledger

When all financial records are in the jurisdiction of one single body. It is regarded as having a central ledger. This is the how banks function.

28.Chain Linking

Every cryptocurrency has its own blockchain, which is an electronic record of all transactions. The procedure that takes place when you move one cryptocurrency to another is known as chain linking. on order to do this, the transaction must be registered on two different blockchains, which must connect to one another.

29. Cipher

The name given to the algorithm that encrypts and decrypts information.

30.Circulating Supply

The circulating supply of a cryptocurrency is the total amount of coins that are available for public trading. Certain coins may be destroyed, reserved, or locked, making them untradeable by the general public.

31.Cold Storage

Another term used for a paper wallet.

32.Confirmed

A transaction is considered authorized by the network and added to the blockchain permanently after it is confirmed.

33.Consensus

Every node in the network confirms that a transaction is legitimate on the block chain when it is made, and if it is, they reach a consensus.

34.Consensus Process

Refers to the nodes that are in charge of keeping up the blockchain ledger so that, in the event that a transaction is performed, a consensus may be achieved.

35.Consortium Blockchain

A block chain that is publicly viewable yet privately owned and controlled.

36.Cryptocurrency

A type of currency that is digitally stored and encrypted. Cryptocurrencies employ advanced mathematics to control the generation and movement of money between entities while operating independently of banks.

37.Cryptographic Hash Function

An input, like a transaction, is transformed into a fixed, encrypted alphanumeric text throughout this node-based process so that it may be registered on the blockchain. Each cryptocurrency has a unique hashing algorithm that governs this conversion.

38.Cryptography

The process of encrypting and decrypting information.

39.DAO

Abbreviation for Decentralized Autonomous Organization.

40.dApp

Short for decentralized application.

41.Decentralized Application

A computer software that runs autonomously, is not managed or controlled by a single organization, is open source, and is compensated for its use with fees or tokens using a blockchain to store data.

42.Decryption

Turning encrypted cipher text back into plain twxt.

43.Deflation

When the demand for a particular cryptocurrency decreases, bringing down the price of its economy.

44.Distributed Ledger

A ledger that is kept in several places so that different people may examine and review any entries. This is the term used in cryptocurrencies to describe the blockchain being stored on several network nodes that are all being reviewed at the same time.

45.Ethereum

According to market value, one of the top three cryptocurrencies worldwide. It is different from bitcoin in two important ways: whilst being open source and built on blockchain technology, it lets developers construct dApps and implement smart contracts.

46.FOMO

Abbreviated for Fear-Of-Missing-Out.

47.Genesis Block

The first or few blocks of blockchain.

48.Liquidity

The ease with which a cryptocurrency may be purchased and traded without negatively affecting the market as a whole is its liquidity.

49.Mining

The name for the process of validating transactions on a blockchain is a little unclear. The individual contributing computing power receives additional bitcoin fractions as a result of cracking the encryption puzzles.

50.Satoshi Nakamoto

The individual or group of individuals who created bitcoin.

That's it !!!