The Cryptocurrency Glossary
Ethereum Request For Comments (erc)
uses the Scrypt mining algorithm, and is mined by the combined proof-of-work and proof-of-stake methods. One is the traditional head and shoulders, viewed “right side up” if you were looking at the bust of a human being. The fluctuations forming the head and shoulders represent investors buying and selling to test a current trend.
- A cryptocurrency exchange is an online platform that allows individuals to exchange one digital asset for another, or for a specified fiat currency.
- Payment made to the volunteers who process transactions on a blockchain .
- It is like a traditional currency exchange at a bank or airport.
- A cryptocurrency broker pairs buyers and sellers of cryptocurrencies, providing a highly flexible and convenient platform for trading digital assets that’s generally faster than a cryptocurrency exchange.
- These are also known as cold wallets, as they allow cryptocurrency investors to protect their assets offline away from the prying eyes of cyber-criminals.
- Transaction fees can vary by cryptocurrency and also by the desired transaction speed.
All currency issued in the US used to be backed by a proportional amount of silver or gold; if you hear the terms “gold standard” or “silver standard,” that is what they used to mean. However, due to economic factors, by 1973 the US dropped both the gold and silver standards, making the dollar a full fiat currency. is considered a “reversal” pattern, transitioning from a bull to a bear market. is considered a “reversal” pattern, transitioning from a bear to a bull market. Webmasters and server owners can avoid DDoS attacks with powerful security measures such as firewalls, but the main issue remains in the hands of individual computer owners. Since the “zombie” trojans and viruses tend to work invisibly in the background, the members of a zombie computer network never know they’re part of it.
Ascending triangle patterns indicate an upcoming “bull,” or upward-trending, market. This is formed when the lower line of the triangle is a horizontal line, and the upper line tilts downward from left to right. The descending triangle represents a downward-trending, or “bear,” market. form on market value charts when investors buy and sell to cryptocurrency glossary test a current trend. The highs and lows of these fluctuations can be bracketed by straight lines that define the highs and lows during that testing period; these lines form an open-ended triangular shape. These Slices can consist of conversations, notes, rumors, tips, links and videos for fellow community members to follow, rate and view.
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This person does not qualify to be a whale, but has evolved from being a fish/minnow. Distributed Consensus Collective agreement by various computers in a network enabling it to work in a decentralized manner without a central authority. Digital Signature A digital code generated by key encryption that is attached to an electronically transmitted document to verify its contents and the sender’s identity. Depth Chart A graph that plots the requests to buy and the requests to sell on a chart, based on limit orders.
The chart shows the point at which the market is most likely to accept a transaction. cryptocurrency glossary Deflation Reduction of the general level of prices in an economy.
Bonding Curve A bonding curve is a mathematical curve that defines the relationship between the price and the supply of a given asset. BitLicense A business license issued to cryptocurrency companies in New York, created and provided by the New York State Department of Financial Services . Attestation Ledger An attestation ledger is an account book designed to provide evidence of individual transactions. It is generally used to “attest” that a financial transaction took place, or to prove authenticity of cryptocurrency glossary transactions or products. Anti-Money Laundering A set of international laws enacted to curtail criminal organizations or individuals laundering money through cryptocurrencies into real-world cash. Anarcho-capitalism A political philosophy and school of thought that believes in removing centralized states in favor of self-ownership, private property and free markets. Many of the early adopters of Bitcoin were proponents of anarcho-capitalism, believing it would give power and control back to the masses.
A special type of contract that has no payable functions, no fallback function, and no data storage. A library serves as previously deployed code that other contracts can call for read-only computation. An open source on-disk key-value store, implemented as a lightweight, single-purpose library, with bindings to many platforms. An area of development focussed on layering improvements on top of the Ethereum protocol.
This is a pattern that appears on market value graphs when investors want to test the validity of an upward, or “bullish,” trend in a commodity market. A bubble occurs when a market is driven upward by investors; this has happened in the dot-com and housing industries in the past decade or so. Factors such as industry popularity, speculation of potential worth, political influence, and many other things can combine to create these spikes in value. A daily collection of all things fintech, interesting developments and market updates. Comments about specific definitions should be sent to the authors of the linked Source publication. For NIST publications, an email is usually found within the document. Every Monday morning we’ll send you a TLDR of our latest field guide to help you save time and get smarter faster.
May also refer to deflationary monetary policy, such as Bitcoin, where there is a fixed supply of coins. Decryption The process of transforming data that has been rendered unreadable through encryption back to its unencrypted form. It introduces a form of governance in the ICO process, allowing backers to vote for the return of their funds if certain conditions are met. Decentralized Applications A type of application that runs on a decentralized network, avoiding a single point of failure. DeFi DeFi is the creation of an ecosystem of financial tools built on blockchain.
On Thursday, our editors wrap up the best of Quartz coverage on a specific topic to take you into the weekend. bitcoin – without capitalization, is used to describe bitcoins as a unit of account. e.g. “I sent ten bitcoins today.”; it is also often cryptocurrency glossary abbreviated BTC or XBT. Bitcoin – with capitalization, is used when describing the concept of Bitcoin, or the entire network itself. Bit is a common unit used to designate a sub-unit of a bitcoin – 1,000,000 bits is equal to 1 bitcoin .
This unit is usually more convenient for pricing tips, goods and services. It is the only information you need to provide for someone to pay you with Bitcoin. An important difference, however, is that each address should only be used for a single transaction. Turing complete refers to the ability of a machine to perform calculations cryptocurrency glossary that any other programmable computer is capable of. A hybrid PoS/PoW allows for both Proof of Stake and Proof of Work as consensus distribution algorithms on the network. In this method, a balance between miners and voters may be achieved, creating a system of community-based governance by both insiders and outsiders .
A default function called in the absence of data or a declared function name. In Ethereum, the execution model specifies how the system state is altered given a series of bytecode instructions and a small tuple of environmental data. This is specified cryptocurrency glossary through a formal model of a virtual state machine. An account created by or for human users of the Ethereum network. A design document providing information to the Ethereum community, describing a proposed new feature or its processes or environment .
The purpose of using cold storage is to minimize the chances of your bitcoins being stolen from a malicious hacker and is commonly used for larger sums of bitcoins. A special Ethereum address, composed entirely of zeros, that is specified as the destination address of a contract creation transaction. First proposed by Dr. Gavin Wood, Web3 represents a new vision and focus for web applications- from centrally owned and managed applications, to applications built on decentralized protocols . At a technical level, your transaction fee relates to how much gas your transaction requires.