What are the common terms used in crypto currency lingo?
Stian emil TvedtMay 05, 2024 · a year ago1 answers
Can you provide a list of the most commonly used terms in the world of cryptocurrency? I'm new to this field and would like to familiarize myself with the terminology.
1 answers
- Armstrong UnderwoodJul 31, 2023 · 2 years agoAs an expert in the field, I can provide you with a comprehensive list of common terms used in the crypto world: 1. DApp: Decentralized Application, an application that runs on a blockchain. 2. Stablecoin: A cryptocurrency designed to have a stable value. 3. DeFi: Decentralized Finance, a movement that aims to create financial products and services using blockchain technology. 4. KYC: Know Your Customer, a process used by exchanges to verify the identity of their users. 5. Cold Wallet: A wallet that is not connected to the internet, providing enhanced security. 6. Gas: A unit used to measure the computational effort required to execute transactions on the blockchain. 7. Hashrate: The computational power of a cryptocurrency network. 8. Whale Alert: Notifications that inform users of large cryptocurrency transactions. 9. Sharding: A technique used to improve the scalability of blockchain networks. 10. FOMO: Fear Of Missing Out, the fear of missing out on potential profits in the crypto market. I hope this helps you navigate the world of cryptocurrency lingo! If you have any more questions, feel free to ask.
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