51% Attack – A common vulnerability with blockchain technology. A vulnerability that can be exploited by a group of miners if they control 51% of the hashrate of the whole network. Accomplishing this can allow the miners to hamper normal blockchain operations and perform actions like double spending.
Airdrop – A process in which free cryptocurrency is distributed among certain members of the general public who register, hold certain cryptocurrency or meet other criteria as designated by the airdropping cryptocurrency.
ALTCOIN – Basically any cryptocurrency type other than Bitcoin.
AML (Anti Money Laundering) – A process of ‘cleaning’ illicit financial gain from criminal activity to make the funds appear legal. Usually involves 3 parts; placement, layering and integration of tainted funds. Placement of illicit funds entails criminals placing funds into financial system such as bank account. Layering is when funds are sent through various transactions (layers) to confuse/hide the original source. Integration is final step where the clean funds are integrated back into the economy and spent as “legal” money on goods, services or investments.
Arbitrage – The act of taking advantage of price differences with a certain commodity on two or more exchanges. Such as buying Bitcoin on US exchange for one price and selling that Bitcoin on a foreign exchange for a higher price.
ASIC – Application Specific Integrated Circuit
ATH (All Time High) – Signifies the point in which a cryptocurrency has reached its highest value during it’s history according to price or market capitalization.
ATL (All Time Low) – Signifies the point in which a cryptocurrency has reached its lowest value during it’s history according to price or market capitalization.
Atomic Swap – Refers to the exchange of two or more cryptocurrencies that operate in different blockchains without intermediaries.
Bagholder – A individual who bought cryptocurrency at a higher than current price and can not sell without taking significant losses.
Bearish – Negative sentiment or price action towards the market or an asset with belief of continued downward price action.
Bear Market – Opposite from Bull Market; indicates the direction of the market going in a downward trend.
Block – Blocks are essentially pages in a record keeping book (ledger). Blocks are the files where data is stored. Once an item is stored it is there permanently which is part of the attraction of Blockchain. Each block is a complex mathematical problem to secure its data.
Blockchain – A data system comprised of “blocks” which is constantly updated as new data is added to the chain. This is the digital ledger of recorded transactions of blocks that once added can not be modified or deleted but can be accessed and read by the public. You may safely keep data on the blockchain as only your private key can access your data.
Bitcoin – Created in 2009, was the first decentralized cryptocurrency. Since then, numerous other cryptocurrencies have been created. These are frequently called altcoins, as a blend of alternative coin.
Bounty – A reward program offered by online platforms as incentives for accomplishing or conducting positive support for the company that holds that bounty.
BTC – Unit designation for Bitcoin
BTFD – Buy The Fucking Dip. Term used for when trading in the cryptocurrency market.
Bullish – An expectation that pricing will increase.
Bull Market – Opposite from Bear Market; indicates the direction of the market in a upward trend.
Burned Tokens – Tokens which have been sent to an addresses whose private key are not known. This removes these tokens from the blockchain.
Byzantine Fault – A Byzantine fault is where an error has occurred, yet a computer system does not know due which component/what failed to the lack of information and continues to iterate on a give instruction.
Byzantine General’s – A term used to describe the situation; a single strategy which requires consensus from all members within group who cannot be trusted or verified.
Central Bank Digital Currency (CBDC) – Digital fiat currency issued by a central bank.
Cloud Mining – Mining on blockchains through remote processing power, which is rented/borrowed/taken from companies that host the physical equipment.
Cold Wallet – Wallets that are offline and require physical access to certain devices (paper wallet, hardware wallet).
Collateralized Debt Obligation (CDO) – A form of derivative in which the value is generated from another underlying asset and is sold to institutional investors.
Consensus – A process a blockchain can use to agree if an action is valid or not on a blockchain. Also, a process of voting used by operators to vote on blockchain functions.
Cryptocurrency – A digital asset that works as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptocurrencies use decentralized control as opposed to centralized electronic money and central banking systems. The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger that cannot be edited, falsified or counterfeited without tremendous computing power.
Dead Cat Bounce – Price rally that is short lived after prolonged decline. Priced charts will show a recovery in anticipation of market turn around only to decline further.
Decentralized – A system where there are no central points of failure or organization with no central authority figure.
Decentralized Application (dapp) – Refers to an application that uses an Ethereum smart contract as it’s back-end code.
Decentralized Autonomous Organization (DAO) – An organization formed from an investor-directed venture capital fund that used the Ethereum network specifically. The DAO was hacked in June of 2016 in which about a third of the DAO’s funds were siphoned.
Decentralized Finance (DeFi) – Financial applications that have no central authority, organization and is censorship free.
Decentralized Exchange (DEX) – Decentralized Exchanges are a subset of trading exchanges that enable users to buy, sell or trade in cryptocurrencies and tokens without a central organizing body. Without a centralized body, DEX’s purely rely on it’s built-in code to maintain the integrity of the protocol. DEX’s currently have no regulatory laws or directives governing them so they are open to abuse by bad actors, money launders and even terrorist financiers.
Degen – An abbreviation of degenerate but in the cryptocurrency world it’s those who conduct crypto trading without due diligence or any type of research. Basically gambling.
Delegated Proof-of-Stake (dPOS) – A consensus protocol where selected members of a blockchain are voted as delegates to validate transactions and produce blocks on a blockchain.
Derivatives – A financial instrument which derives its value from the performance of an underlying asset or index.
Devs (Developers) – Software programmers of a blockchain crypto/token that organizes, designs and writes software code.
Distributed Denial of Service (DDoS) Attack – A cyber attack tactic where a perpetrator diverts large amounts of traffic towards a particular network or service in effort to disrupt normal services.
Distributed File System (DFS) – Differing from typical file systems as this system protocol that is shared via multiple file servers or at multiple locations.
Distributed Ledger – Blockchains or services whose data is not centralized by storing and syncing it’s data across the network via it’s nodes.
Distributed Ledge Technology (DLT) – For storing assets and/or values in a distributed environment with no centralized control.
Double Spending – The act of spending the same digital currency twice in effort to deceive the receiver with unavailable funding. Mostly attempted by unscrupulous actors to defraud those involved.
Do Your Own Research (DYOR) – Term used for those in the cryptocurrency markets when describing best buys or sells, which alleviates them from being responsible from whether the cryptocurrency is a good buy or not.
Dump – A common term used to describe downward market movement as in “market dumping” or describe the action of selling an individual’s holdings.
Dust – In the cryptocurrency world, it refers to a tiny amount of coins or tokens.
Dusting Attack – A malicious activity in which hackers and scammers attempt to undermine the privacy of cryptocurrency holders by sending small amounts of crypto to their wallets in hopes receivers will then attempt to sell said crypto. This transaction is used to help scammers deanonymize the receiver.
Dutch Auction – Referred to as a “inverted” auction. This auction starts with high asking price that decays over time until a pre-determined floor price is reached.
ERC-1155 – Token standard that allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
ERC-20 – A technical standard for issuing tokens on the Ethereum blockchain.
ERC-721 – One of the most widely used token standards in Ethereum to create fungible, exchangeable tokens.
Ether – The fuel that powers the distributed Ethereum network.
Ethereum – An open-source blockchain platform that lets developers create Dapps and smart contracts.
Ethereum Classic – Known as ETC, the result of the Ethereum blockchain hard fork.
Ethereum Gas – See GAS/GAS PRICE
Ethereum Improvement Proposal (EIP) – Improvement proposals for Ethereum, used to introduce features or any updates on the Ethereum network.
Ethereum Name Service (ENS) – A look-up service that uses simple names. This allows Ethereum users to find websites or send and receive crypto easier instead of a long 42 character hexadecimal address.
Ethereum Virtual Machine (EVM) – An environment in which all smart contracts are executed.
Exchange (Cryptocurrency Exchange) – Website engaged as a business in the service of exchanging virtual currency for real currency, funds or other forms of virtual currency for a fee (commission) Exchanges generally accept a wide range of payments such as cash, credit cards, wired payments or virtual currency. Exchanges are where the buying, selling or trading cryptocurrencies take place. Exchanges can be either centralized or decentralized (see DEX). Follow this link for my list of popular exchanges.
Exchange Traded Fund (ETF) – A form of security that tracks a collection of securities such as stocks, bonds, index or cryptocurrency but tradeable like a single stock.
Explain Like I’m Five (ELI5) – To explain in such simple terms that a five year old would understand it.
Fear Of Missing Out (FOMO) – Refers to the feeling of stress & apprehension for missing out on a potential event and regretting it later, such as profitable trade.
Fear, Uncertainty and Doubt (FUD) – A strategy to dissuade potential clients from engaging with a particular product by spreading false information mostly directly but may also apply indirectly. Used by financial traders to prevent the competition from taking from their share of the market.
FIAT – Government issued currency, such as a US Dollar, British Pound or Mexican Peso. This legal tender is backed by the sole faith of the central government from which it was issued.
Fiat-Pegged Cryptocurrency – (Sometimes also called fiat-pegged stablecoins) A digital asset or currency pegged to the value of a top national currency such as United States Dollar (USD), Great Britain Pound (GBP), etc. For example, USDC, USDT, etc. These are usually never traded for profit as they generally always priced equal to one dollar ($1.00).
Financial Action Task Force (FATF) – The Financial Action Task Force was chartered by the G7 (Group of Seven; Canada, France, Germany, Italy, Japan, United Kingdom and United States) industrial nations to foster the establishment of national and global measures to combat money laundering. They are an international policy-making body that sets anti-money laundering standards and counter-terrorist financing measures worldwide.
Financial Conduct Authority (FCA) – Financial Conduct Authority is the United Kingdom’s financial regulatory authority overseeing U.K financial markets. This independent agency has the power to regulate the marketing of financial products and services, investigate entities/individuals, ban products and freeze assets.
Financial Crimes Enforcement Network (FinCEN) – The Financial Crimes Enforcement Network is a U.S. Agency within bureau of the Treasury Department that collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing and other financial crimes.
Flippening, The – A expected paradigm shift, where the values of altcoins are no longer based on the value of Bitcoin. Essential, it will mark the end of Bitcoin dominance in the market cap. Progress of The Flippening is being monitored in real-time at Flippening Watch.
Fork – One of two different types of cryptocurrency split, Hard Fork or Soft Fork. A Hard Fork is when a single cryptocurrency splits into two, one cryptocurrency remains as original or old version and the other is the new version which is generally given a name change. For example when Bitcoin forked it split into Bitcoin and Bitcoin Cash thus having two separate entities. A Soft Fork is when the split is contained in one cryptocurrency and can generally seen as a update. Two different coins are created within the soft fork but they are seen as one and eventually the older coin is just phased out.
Futures – An agreement between two counterparties that obligates them to transact in the future with the pre-determined contract terms carried out regardless the outcome.
GAS – A measurement of process requirements by the Ethereum network to process transactions. Small transactions do not require much gas but larger complex transactions like executing a smart contract require more gas.
Gas Limit – A maximum amount of units of gas to be used on a transaction that is designated by contract, blockchain or user.
Gas Price – The amount of Ethereum spent for each gas unit on a transaction. The gas price is paid by the initiator of a transaction, the higher the gas price the more priority a transaction has in the network.
Genesis Block – The first block of the blockchain which is processed and validated to start a blockchain. Typically marked as “Block 0” or “Block 1”.
Going Long – A margin trade that profits if the price increases.
Going Short – A margin trade that profits if the price decreases.
Golden Cross – A market trading technical signal where comparing the candlestick pattern of two lines; short-term moving average and long-term moving average. The “Golden Cross” occurs when the short-term average crosses over the long-term average. This is generally a bullish indication.
Gwei – A denomination of ether. Wei being the smallest denomination (at 10^18) for Ethereum, Gwei is 10^9, so 1000000000Gwei equals 1 Ethereum.
Halving – In relation to cryptocurrency mining, it’s the reduction of minable reward for a certain amount of blocks. In Bitcoin, the reward is halved after every 210,000 blocks.
Hard Fork – A permanent divergence of a blockchain into second completely new blockchain in which the original version does not recognize or acknowledge the original.
Hash – A complete mathematical function that converts an input string of data to an encrypted output code. The code is a unique and alphanumeric and cannot be reverse engineered.
Hashgraph – An alternative to blockchain which also offers consensus.
Hashrate – Hashrate is the speed in which a mathematical problem is solved within a block. Speed is symbolized as h/s, which is hashes per second. This term is related to the use of miners and measures the effectiveness of their computational power to gain cryptocurrency such as Bitcoin. MH/s and GH/s are also used to signify MegaHash and GigaHash.
HODL – Hold On for Dear Life. A misspelling of HOLD, which has become a rallying cry out for cryptocurrency holders to “hold” and not sell their positions in cryptocurrency. This term was initially born from a misspelling of HOLD, HODL became a popular meme of sorts and has since been adapted to its present form.
Hot Wallet – A cryptocurrency wallet that is connected to the internet.
HyperLedger – Created by Linux Foundations to advance open source cross-industry blockchain technology.
Immutable – A element that is unable to be changed at any point in time once established. For example a blockchain may be immutable, meaning each block cannot be changed but new updated blocks can be written.
Initial Coin Offering (ICO) – Similar to IPO (Initial Public Offering) but specific to cryptocurrency which is used by startups to raise funds by selling tokens during the IPO.
Initial Exchange Offering (IEO) – A spin off of IEO (see above), where the sale of tokens are conducted on an exchange rather than by the coin team project themselves.
Internet of Things (IoT) – A system that lets devices communicate on the internet with other capable devices to work with certain products/systems.
Interoperability – The ability of a product/system that are able to work with other products/systems without any compatibility issues or restrictions.
InterPlanetary File System (IPFS) – A protocol and peer-to-pee network for storing and sharing data in a distributed file system.
Initial Public Offering (IPO) – The process where a public company offers newly issued shares to the public and as a result raise capital from public investors.
Key – (public/private) – With cryptocurrency keys are utilized to encrypt and decrypt information. The Public key is what is used to encrypt information and Private keys are used to decrypt the information. The Private key is kept in your wallet and allows your cryptocurrency coins/tokens to be spent and must be kept secure. In Bitcoin a private key is a 256-bit number which can be represented in various ways.
Know Your Customer (KYC) – Know Your Customer is the process of verification and identification of individuals via personal information with the verification of those details to identify fraudsters, money laundering, terrorist financing, etc. Verification information required varies from one jurisdiction to another. 3 Key components can be required for verification; Customer Identification Program (CIP), Customer Due Diligence (CDD) and Monitoring.
Lambo – Abbreviated from Lamborghini, in this reference a Lambo signifies the status symbol in which a cryptocurrency investor is presumed to be able to afford after his earnings for selling his cryptocurrency.
Ledger – Usually a book or file that was used for recording economic transactions in which monetary units were balanced with credits and debits. In this case the ledger is public computer file that does the same thing, permanently accounts for each individual transaction, depending on which type of cryptocurrency it is used for.
Lightning Network – The “second layer” or an off-chain part of a payment protocol that operates on top of a blockchain. Payments on this network do not need block confirmation and it will be instant.
Limit – (order/buy/sell) – An order placed with a broker or at exchange to buy or sell at a specific price or better. Establishes a minimum or maximum to be executed when one is reached.
Liquidity – The ease of a cryptocurrency token/coin that can be converted into ready fiat without affecting it’s market price.
Mainnet – A working blockchain product that also provides the ability to transfer digital currencies between users in a blockchain environment.
Market – (order/buy/sell) – An order placed with a broker or at exchange to buy or sell immediately at the best available current price. This is usually the default order option at exchanges due to it not having any restrictions on the buy, sell or even time-frame. This don’t always mean the best price but does essentially guarantee execution of an order.
Market Cap – The total value held in the market. It could be for an individual cryptocurrency coin/token or a total Market Cap for all cryptocurrency coins/tokens. For example in Cryptocurrency it is calculated by multiplying the individual price of a coin/token by the total supply of coins/tokens.
Margin Trading – A very risky procedure of using borrowed funds to make trades in an exchange. Margin is referring to the collateral the individual put up. In Margin Trading, the investor is also generally required to supply a portion of the purchase order. Margin Trading is governed heavily
MEW (MyEtherWallet) – a free Ethereum software wallet. SECURITY NOTE: A lot of spoofing sites are popping up, make sure you use a legit site and bookmark it. Recommend using links from legit sources. My Ether Wallet I use this one, use at your own risk. (I have to put that to cover my butt)
MEMES – Yea, just google it. Trust me, get ready to waste a few hours of your life. It will be fun. Better yet, CRYPTO MEMES.
Metadata – The data providing information about one or more aspects about something. Used to summarize basic information that can tracking and working with specific data easier. Such data can include; date, time, creator/author, type of data, means of creation of data, location on a network, blockchain or computer, file size, data quality/quantity, source of data, other standards that include specific rules, conditions and guidelines.
Metamask – A popular crypto wallet that works on a wide variety of exchanges, cryptocurrencies coins and tokens, NFTs, games and more digital assets.
Metaverse – A computer generated environment (virtual space) where users are able to interact with other users or the environment itself.
Mining – A term used for discovering and solving blocks within a blockchain. Because of the power and time it takes to mine a block, miners are rewarded for their work with coins, depending on which blockchain the miner is mining will determine the type of reward. Example, those mining Bitcoin blockchain receive Bitcoins as payment.
Mining Rig – A computer built specifically for processing proof-of-work blockchains such as Bitcoin & Ethereum. A large amount of processing power is needed, so many Mining Rigs consist of several high-end graphic processors.
Moon or Mooning – Term used to describe a price increasing up to astronomical levels. Essentially a large spike.
Multisig (multiple signature) – Crypto wallets/contracts/assets that require more than one key for transactions to be authorized. The use of each key signifies agreeing to said transaction.
NEO – A Ethereum blockchain that offers Dapps and smart contracts, popular in China thus recognized as the Chinese Ethereum.
Nocoiner – A individual that does not buy into cryptocurrency.
Node – A computer that contains a full copy of a blockchain and supports the network through validation and processes of transactions to maintain the blockchain.
Non-Fungible Token (NFT) – A digital element that cannot be copied, substituted or subdivided and is recorded in a blockchain (such as Ethereum, Solana, Etc) and is used to certify ownership and authenticity to the holder.
Off-Chain – Refers to transactions occurring off a blockchain and is executed instantly.
Open Source – A type of software released under a license in which the copyright holder grants users the rights to study, change and distributed the software to anyone and for any purpose.
Over The Counter (OTC) – In the cryptocurrency sense it signifies the process of cryptocurrency being traded outside exchanges and is done directly between two parties such as a broker or individual away from exchanges.
Peer-to-Peer (P2P) – Removes the middleman or central agency such as bank or lawyer. This allows individuals to interact directly with others to conduct an action or complete a transaction.
Penny Cryptocurrencies – Those coins/tokens that are valued less than one dollar per coin/token.
Private Blockchain – A blockchain environment where only invited users can participate.
Private Key – The security key in a blockchain that is used to encrypt and decrypt messages or assets. The holder of a private key essentially owns whatever it controls on the blockchain. NEVER give your private key without knowing the consequence of your action.
Proof of Stake (PoS) – This blockchain requires users to stake coins on the network. POS is a consensus algorithm that works off of those users that hold coins and maintain in the proper wallet for staking. The proposed future algorithm to be used by Ethereum.
Proof of Work (PoW) – This blockchain requires miners to solve mathematical complex problems. POW is a consensus algorithm that is used to validate transactions on a decentralized network. The current algorithm used by Ethereum blockchain.
Public Blockchain – A publicly available blockchain that can be accessed by anyone with blockchain access.
Public Keys – The alphanumeric address which serves as the receiving address for cryptocurrency. Unlike Private Keys (see above) this string of data is free to share so owner can receive crypto.
Pump and Dump – A scheme that increases the price of cryptocurrency, stock, shares etc, through promotions, false, misleading or exaggerated promotions or endorsement. Once the price has increased a certain amount or price the insiders then sell what they purchased at a low price, leaving everyone else to deal with the aftermath.
Pumping (shilling) – The activity of advertising, promoting or endorsing of a cryptocurrency essentially because the individual doing the shilling owns the cryptocurrency and thoughts are they are wanting to increase the price of that cryptocurrency to increase the value of what they hold.
REKT – Term used to describe wrecked or damaged. In this case usually in reference when someone loses a large amount of fiat/cryptocurrency.
QR Code – Quick Response Code is a machine readable optical label that stores up to 3kb of data.
REKT – Term used to describe wrecked or damaged. In this case usually in reference when someone loses a large amount of fiat/cryptocurrency.
Relative Strength Index (RSI) – A technical indicator used to analyze financial markets. By charting the currency and historical closing prices to evaluate overbought/oversold conditions, RSI oscillates between 0-100, with <30 indicating oversold and >70 indicating overbought.
ROI (Return On Investment) – The percentage of how much money has been made compared to an initial investment.
Rug Pull – Type of attack unique to decentralized finance exchanges (DEXs) when a smart contract is abused usually by creator dropping the value of the token to $0. The smart contract executes a vulnerability within the code to let the creator withdraw the funds of a token. Investors can only purchase the token but can never withdraw as the value drops to $0 when rug pull is executed.
Satoshi – Smallest unit of a Bitcoin that is currently used. One Satoshi is 0.00000001 BTC which is one hundred millionth of a Bitcoin. Satoshi is also commonly abbreviated as “Sats” One Bitcoin contains 100,000,000 Satoshi’s. The term is derived from Bitcoin creator Satoshi Nakamoto.
Securities and Exchange Commission (SEC) – An independent agency of the U.S. federal government which overseas federal securities laws, proposing securities rules and regulating the securities industry.
Security Token – A tradeable asset that acts as a security and doesn’t have usability at the time of it’s release. Primarily aimed at investors mostly during company startup periods.
Seed – A value used to initiate a generated pseudorandom number. The seed is generally comprising of 12, 18 or 24 common English words.
Segregated Witness (SegWit) – A soft fork implementation to change the Bitcoin protocol’s transaction format to address Bitcoin’s scalability issues whilst introducing new features.
SHA-256 (Secure Hashing Algoritm) – Part of SHA-2 which is designed by NSA (National Security Agency) and used for cryptographic security that contains a 64 character string.
Shill – Term giving to those who endorse cryptocurrency coins/tokens without being asked to do so. Usually the cryptocurrency being “shilled” is a cryptocurrency that the individual holds and believed to be endorsing to pump up the price so they can eventually dump the cryptocurrency. Essentially advertising.
Shitcoin – As it sounds. 🙂 Specifically a cryptocurrency that is a scam, worthless or a cryptocurrency with a useless project behind it. There are many Shitcoins and being one doesn’t mean you still can’t make money off of it.
Signature – A mathematical expression that proves ownership of a transaction. In cryptocurrency, such as Bitcoin, the transaction is signed with your private key, the signature is what matches the transaction to prove you are the owner, without disclosing your private key.
Silk Road – Launched in 2011, Silk Road was the foremost DarkNet Market (DNM) in the world. The Silk Road arguably made bitcoin and cryptocurrency synonymous with money laundering, drug smuggling and illicit activities. During this time the blockchain was young and a relatively unknown technology with a very small payment ecosystem. The Silk Road was shut down by the FBI in 2013.
Smart Contract – Similar to a regular contract, A Smart Contract is an agreement that is stored on a blockchain. The Smart Contract is unalterable and has specific logic operations, it can be used to define certain computational way-points or benchmarks that have to be met in order for the next set of operational processes to occur, such as money transfer. They can also provide verification of certain data such as purchase order, land rights or anything of value. All this is provided via blockchain which avoids the need for a middleman in many instances.
Solidity – One of the most popular programming languages that smart contracts can be written in. Has some similarities to JavaScript.
Stablecoin – A cryptocurrency or token designed to have a relativity stable price due to being pegged to a currency, commodity or financial asset.
Staking – The state of locking-in a cryptocurrency or token to participate as a validator of a Proof-of-Stake network.
TA – Technical Analysis or Trend Analysis, a way to try and predict the future movement of cryptocurrency or stock based on historical data.
Testnet – Short hand for Test Network, operated as a staging area for experimenting with the blockchain.
Token Burn – An event in which tokens are verifiably removed permanently from circulation.
Tokens – Another synonym for cryptocurrencies or altcoins.
Trading Platform – Trading Platforms function as marketplaces by bringing buyers and sellers of virtual currencies together within their platform on which they can buy or sell among themselves. Unlike virtual currency exchanges, Trading Platforms do not engage in buying or selling themselves. One example of a trading platform is LocalBitcoin.com, which give its customers the ability to locate nearby customers.
Transaction Fee – When a transaction is conducted fees are paid by the users and earned by the miners. If you are the individual conducting a transaction your fee may vary depending on size (in kilobytes) of the transacted data and speed of confirmation (faster confirmation can require higher fees). If you are the miner, it is the reward given for completing that block of data.
Trustless – Entirely verifiable, without needing to trust or assume and action is done completely and in good faith.
Utility Tokens – A token that has a utility attached to it. Utility tokens are used for accessing a product or service, popular tokes like exchange tokens are examples of utility tokens.
Validator – A block-signing participant of a Proof of Stake blockchain network, whom have significant tokens staked on the network.
Virtual Private Network (VPN) – A network that extends a private network over a public or shared network, allowing users to send and receive data across the networks as if their computing device was directly connected to the private network. Applications running on a computing device such as laptop, smartphone or desktop can benefit and are most commonly used with VPN’s to maintain secure communications in public areas.
Wallet – In cryptocurrency you have wallets to store certain data. The wallets store your private keys which give you access to the public keys that contain your cryptocurrency on the blockchain. There are several different types of wallets; Hot Wallet, Cold Storage, Paper Wallet, Software Wallet, Hardware Wallet.
Wallet Address – An address similar to email or physical address, only that it directs cryptocurrency to a specified wallet. A wallet address uses alphanumeric characters. Wallet addresses vary from one cryptocurrency to another, such as a Bitcoin address may begin with a 1 and a Ethereum address may begin with a 0.
Wash Trade – Meaningless back and fourth trading between a single party with the aim of inflating trade volume.
Web3 Wallet – Software that allows you to interact with web3.0
Wei – Similar to Satoshi but for Ethereum but the smallest denomination is a Wei, which is 10^18. So 1000000000000000000 Wei equals 1 Ether.
Whale – An individual, organization or entity with extremely high net worth that owns a very large amount of cryptocurrency.
Whitelist – List of approved participants that will be given access to a token sale (ICO, STO, IEO, etc).
White Paper – A document created and issued by a project that contains detailed information on the project plan, road map, technical details, token breakdown and various other project information. Used by prospective coin/token buyers/investors for assessing the project.
Yield Farming – The process of putting cryptocurrency into a DeFi protocol to collect interest on trading fees.
Zero knowledge Proof – Cryptographic proof for 2 parties to verify a value without revealing what the value is.
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Updated: 12/15/22