{"id":3631,"date":"2022-01-02T16:42:29","date_gmt":"2022-01-02T16:42:29","guid":{"rendered":"http:\/\/egrowonline.com\/?p=3631"},"modified":"2022-01-02T16:42:29","modified_gmt":"2022-01-02T16:42:29","slug":"crypto-terms-explained-breaking-down-popular-crypto-jargon","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=3631","title":{"rendered":"CRYPTO TERMS EXPLAINED: Breaking Down Popular Crypto Jargon"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div class=\"bitco-below-content\" style=\"margin-top: 5px;margin-right: 5px;margin-bottom: 5px;margin-left: 5px\" id=\"bitco-103652968\"><a target=\"_blank\" href=\"https:\/\/bitcoinke.io\/2022\/01\/crypto-terms-explained\/mailto:info@bitcoinke.io\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" alt=\"Advertise on Bitcoinke\" width=\"728\" height=\"90\" src=\"https:\/\/i0.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Advertise-here.gif?fit=728%2C90&amp;is-pending-load=1#038;ssl=1\" srcset=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\" jetpack-lazy-image\" \/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/i0.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Advertise-here.gif?fit=728%2C90&amp;ssl=1\" alt=\"Advertise on Bitcoinke\" width=\"728\" height=\"90\" \/><\/a><\/div>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"403\" alt=\"\" class=\"wp-image-16591 jetpack-lazy-image\" data-recalc-dims=\"1\" srcset=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?w=1000&amp;ssl=1 1000w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=300%2C189&amp;ssl=1 300w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=768%2C484&amp;ssl=1 768w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=696%2C438&amp;ssl=1 696w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=667%2C420&amp;ssl=1 667w\" data-lazy-sizes=\"(max-width: 640px) 100vw, 640px\" src=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=640%2C403&amp;is-pending-load=1#038;ssl=1\" \/><img decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"403\" src=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=640%2C403&amp;ssl=1\" alt=\"\" class=\"wp-image-16591\" srcset=\"https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?w=1000&amp;ssl=1 1000w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=300%2C189&amp;ssl=1 300w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=768%2C484&amp;ssl=1 768w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=696%2C438&amp;ssl=1 696w, https:\/\/i1.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Crypto-Terms-Explained.jpg?resize=667%2C420&amp;ssl=1 667w\" data-recalc-dims=\"1\" \/><\/figure>\n<p>One of the common things people say about cryptocurency and blockchain technologies is that it is too complex, hard, or difficult.<\/p>\n<p>One big reason that puts people off is the use of words that many of us have never heard.<\/p>\n<p>In this article, we seek to describe some of the most commonly used cryptocurrency terms. This helps, especially if you\u2019re starting out, so that you won\u2019t feel too lost.<\/p>\n<p>____________________________________________________________<\/p>\n<p><strong>SEE ALSO<\/strong>: <a target=\"_blank\" href=\"https:\/\/bitcoinke.io\/2021\/10\/how-to-select-a-cryptocurrency-to-trade\/\" data-type=\"URL\" data-id=\"https:\/\/bitcoinke.io\/2021\/10\/how-to-select-a-cryptocurrency-to-trade\/\" rel=\"noreferrer noopener\">How to Select a Cryptocurrency to Trade<\/a><\/p>\n<p>___________________________________________________________________<\/p>\n<p>Here we go:<\/p>\n<ul>\n<li><strong>Airdrop <\/strong>\u2013 A marketing campaign that distributes a specific cryptocurrency or token to an audience<\/li>\n<\/ul>\n<ul>\n<li><strong>All-Time High (ATH)<\/strong> \u2013 The highest point (in price, in market capitalization) that a cryptocurrency has been in history<\/li>\n<\/ul>\n<ul>\n<li><strong>Altcoin <\/strong>\u2013 Ssed to describe any cryptocurrency that is not Bitcoin \u2014 an alternative digital currency. As Bitcoin was the original cryptocurrency, any cryptocurrency that was created after was treated as an \u2018alternative\u2019<\/li>\n<\/ul>\n<ul>\n<li><strong>Burn <\/strong>\u2013 Cryptocurrency tokens or coins are considered \u201cburned\u201d when they have been purposely and permanently removed from circulation<\/li>\n<\/ul>\n<ul>\n<li><strong>Buy the Dip<\/strong> \u2013 An enthusiastic exclamation by supporters of a cryptocurrency to buy while prices are at a low point<\/li>\n<\/ul>\n<ul>\n<li><strong>Consensus Mechanism<\/strong> \u2013 An underlying technology behind the main functionalities of all blockchain technology, which makes them an essential operating feature of all cryptocurrencies<\/li>\n<\/ul>\n<ul>\n<li><strong>dApps (Decentralized Applications)<\/strong> \u2013 A type of application that runs on a decentralized network, avoiding a single point of failure<\/li>\n<\/ul>\n<ul>\n<li><strong>DAO (Decentralized Autonomous Organization)<\/strong> \u2013 A decentralized autonomous organization (DAO) is founded upon and governed by a set of computer-defined rules and blockchain-based smart contracts<\/li>\n<\/ul>\n<ul>\n<li><strong>DEX (Decentralized Exchange)<\/strong> \u2013 A peer to peer exchange allowing users to trade cryptocurency without the need for an intermediary<\/li>\n<\/ul>\n<ul>\n<li><strong>DeFi (Decentralized Finance)<\/strong> \u2013 A movement encouraging alternatives to traditional, centralized forms of financial services<\/li>\n<\/ul>\n<ul>\n<li><strong>Dump <\/strong>\u2013 A sudden sell off of digital assets<\/li>\n<\/ul>\n<ul>\n<li><strong>Fiat <\/strong>\u2013 A \u2018legal tender\u2019 backed by a central government, such as the Federal Reserve, and with its own banking system<\/li>\n<\/ul>\n<ul>\n<li><strong>FUD<\/strong> \u2013 An acronym that stands for \u201cFear, Uncertainty and Doubt.\u201d It is a strategy to influence perception of certain cryptocurrencies or the cryptocurrency market in general by spreading negative, misleading or false information<\/li>\n<\/ul>\n<ul>\n<li><strong>Fungible <\/strong>\u2013 In cryptocurrency, fungibility is when a coin or token can be replaced by any other identical coin or token<\/li>\n<\/ul>\n<ul>\n<li><strong>Gas <\/strong>\u2013 The fee paid on the\u00a0Ethereum\u00a0network in return for using the platform\u2019s computational power. Activities that require gas include launching decentralized applications (DApps) and simple transactions like sending ETH between traders. The fee is paid using Ether (ETH), the platform\u2019s native currency<\/li>\n<\/ul>\n<ul>\n<li><strong>HODL <\/strong>\u2013 A type of passive investment strategy where you hold an investment for a long period of time, regardless of any changes in the price or markets. The term first became famous due to a typo made in a Bitcoin forum, and the term is now commonly expanded to stand for \u201cHold On for Dear Life\u201d<\/li>\n<\/ul>\n<ul>\n<li><strong>ICO <\/strong>\u2013 Short for Initial Coin Offering, an ICO is a type of crowdfunding, or crowdsale using cryptocurrencies as a means of raising capital for early-stage companies<\/li>\n<\/ul>\n<ul>\n<li><strong>Laser Eyes<\/strong> \u2013 Laser eyes is a viral Twitter meme that is used by\u00a0Bitcoiners\u00a0attempting to push the price of Bitcoin (BTC) to $100,000, outlining the bullish outlook for crypto. This group is confident in the future of Bitcoin and likely to have\u00a0diamond hands, meaning they are only looking to accumulate more BTC and\u00a0HODL\u00a0for the long term<\/li>\n<\/ul>\n<ul>\n<li><strong>Mainnet <\/strong>\u2013 An independent blockchain running its own network with its own technology and protocol<\/li>\n<\/ul>\n<ul>\n<li><strong>MemeCoin <\/strong>\u2013 The crypto analog of memes that came into being as a cheaper Bitcoin substitute. The first successful memecoin is\u00a0DogeCoin. The famous Shiba Inu memecoin was also based on DogeCoin. Apart from DogeCoin, some of the most popular memecoins include\u00a0Dogelon Mars,\u00a0Shiba Inu,\u00a0Floki Inu, Wakanda Inu, and\u00a0Samoyedcoin<\/li>\n<\/ul>\n<ul>\n<li><strong>Node <\/strong>\u2013 The most basic unit of blockchain infrastructure that stores data<\/li>\n<\/ul>\n<ul>\n<li><strong>Peer to Peer (P2P)<\/strong> \u2013 The decentralized interactions between parties in a distributed network, partitioning tasks or workloads between peers<\/li>\n<\/ul>\n<ul>\n<li><strong>Play to Earn<\/strong> \u2013 The play-to-earn business model supports the notion of an open economy and gives financial rewards to players who bring value to its metaverse<\/li>\n<\/ul>\n<ul>\n<li><strong>Satoshi (SATS)<\/strong> \u2013 Like any other\u00a0fiat\u00a0currency out there,\u00a0cryptocurrencies\u00a0can also be divided into smaller units. Just as the U.S. dollar can be divided into cents and the pound into pence, the smallest available unit of Bitcoin is a satoshi \u2013 otherwise known as 0.00000001 BTC. The satoshi takes its name from\u00a0Satoshi Nakamoto, the\u00a0pseudonymous\u00a0inventor of BTC<\/li>\n<\/ul>\n<ul>\n<li><strong>Smart Contract <\/strong>\u2013 A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible<\/li>\n<\/ul>\n<ul>\n<li><strong>Token <\/strong>\u2013 Tokens are a type of cryptocurrency that are used as a specific asset or represent a particular use on the\u00a0blockchain<\/li>\n<\/ul>\n<ul>\n<li><strong>Web 3.0<\/strong> \u2013 The coming generation of the Internet<\/li>\n<\/ul>\n<p>There you go, that\u2019s a list of some pf the hottest terminologies out there as you start to deal in cryptocurencies. <\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"> ___________________________________________________________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><strong>RECOMMENDED READING<\/strong>: <a target=\"_blank\" href=\"https:\/\/bitcoinke.io\/2021\/11\/top-10-crypto-mistakes-to-avoid\/\" rel=\"noreferrer noopener\">Top 10 Crypto Mistakes to Avoid as a Beginning Trader<\/a><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">___________________________________________________________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">Thank you for your support by helping us create content:<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><strong>BTC address<\/strong><em>: 3CW75kjLYu7WpELdaqTv722vbobUswVtxT<\/em><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">____________________________________________________________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><em>Follow us on\u00a0<a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/twitter.com\/BitcoinKE\">Twitter<\/a>\u00a0for latest posts and updates<\/em><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\"><em>Join and interact with our\u00a0<a target=\"_blank\" rel=\"noreferrer noopener\" href=\"https:\/\/t.me\/bitcoinKE\">Telegram community<\/a><\/em><\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">_____________________<\/p>\n<p class=\"wp-embed-aspect-16-9 wp-has-aspect-ratio\">Subscribe to the channel below to keep updated on latest news on video:<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"jeg_video_container jeg_video_content\"><iframe loading=\"lazy\" title=\"Risks and Growth of Cryptocurrencies in Africa\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/bpFcOr8oZcU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n<\/figure>\n<p> ____________________________________________________________________ <\/p>\n<div class=\"bitco-after-content\" style=\"margin-top: 5px;margin-right: 5px;margin-bottom: 5px;margin-left: 5px\" id=\"bitco-1308605895\"><a target=\"_blank\" href=\"https:\/\/bitcoinke.io\/2022\/01\/crypto-terms-explained\/mailto:info@bitcoinke.io\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" alt=\"Advertise on Bitcoinke\" width=\"728\" height=\"90\" src=\"https:\/\/i0.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Advertise-here.gif?fit=728%2C90&amp;is-pending-load=1#038;ssl=1\" srcset=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" class=\" jetpack-lazy-image\" \/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/i0.wp.com\/bitcoinke.io\/wp-content\/uploads\/2021\/11\/Advertise-here.gif?fit=728%2C90&amp;ssl=1\" alt=\"Advertise on Bitcoinke\" width=\"728\" height=\"90\" \/><\/a><\/div>\n<p><!-- AI CONTENT END 1 -->\n        <\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/bitcoinke.io\/2022\/01\/crypto-terms-explained\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the common things people say about cryptocurency and blockchain technologies is that it is too complex, hard, or difficult. One big reason that puts people off is the use of words that many of us have never heard. In this article, we seek to describe some of the most commonly used cryptocurrency terms. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3632,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[39],"tags":[1178,62,2631,2957,587,2100],"class_list":["post-3631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ico","tag-breaking","tag-crypto","tag-explained","tag-jargon","tag-popular","tag-terms"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/01\/Crypto-Terms-Explained.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3631"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3631\/revisions"}],"predecessor-version":[{"id":3633,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3631\/revisions\/3633"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/3632"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3631"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}