20 CRYPTO JARGON EVERY NEWBIE MUST KNOW.
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Here are 20 must-know crypto jargon terms:
1. Cryptocurrency: Digital or virtual currency that uses cryptography for secure transactions.
2. Blockchain: A decentralized and distributed digital ledger that records all cryptocurrency transactions across multiple computers.
3. Bitcoin: The first and most well-known cryptocurrency, created by an anonymous person or group known as Satoshi Nakamoto.
4. Altcoin: Any cryptocurrency other than Bitcoin, such as Ethereum, Litecoin, or Ripple.
5. Wallet: A digital software or hardware tool used to store and manage cryptocurrencies.
6. Mining: The process of validating and adding new transactions to a blockchain, typically through solving complex mathematical problems.
7. ICO (Initial Coin Offering): A fundraising method where new cryptocurrencies are offered to investors before being listed on exchanges.
8. HODL: A misspelling of "hold," often used in the crypto community to encourage long- term investment rather than selling during market fluctuations.
9. FUD: Fear, Uncertainty, and Doubt. It refers to spreading negative or misleading information about a cryptocurrency or the market to create panic among investors.
10. FOMO: Fear of Missing Out. The feeling of anxiety or urgency that drives investors to enter or increase their positions in a cryptocurrency due to the fear of missing potential gains.
11. Whales: Individuals or entities that hold a significant amount of cryptocurrency, capable of influencing market prices due to their large trading volumes.
12. Fork: A split in a blockchain, creating two separate versions with different rules. It can be a result of a software upgrade or due to a disagreement within the community.
13. Smart Contract: Self-executing contracts with the terms of the agreement directly written into code. They automatically execute transactions when predefined conditions are met.
14. Decentralized Finance (DeFi): Financial applications and platforms built on blockchain technology that aim to provide open, permissionless, and decentralized alternatives to traditional financial services.
15. Stablecoin: A type of cryptocurrency designed to minimize price volatility by pegging its value to a stable asset like fiat currency or commodities.
16. Token: A unit of value representing a digital asset or utility on a blockchain, often used in crowdfunding or as access rights to a specific service or platform.
17. DApp: Decentralized Application. An application that runs on a blockchain network rather than a centralized server, providing transparency and security.
18. Private Key: A cryptographic code that allows users to access and manage their cryptocurrencies. It should be kept secret and secure.
19. Public Key: A cryptographic code derived from a private key, used for receiving cryptocurrencies and verifying digital signatures.
20. Exchange: A platform where cryptocurrencies can be bought, sold, or traded for other digital assets or fiat currencies.
These terms should help you navigate the world of cryptocurrency and understand the discussions and developments in the field.
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