loader

Glossary

Address- a secured unique sequence of characters that represents the location or origin or destination of any cryptocurrency transaction.
Altcoin – the name given to the category of cryptocurrencies created as alternatives to Bitcoin
Bitcoin (BTC) – one of the first and most famous digital currencies. It was created in 2009 by an anonymous entity known as Satoshi Nakamoto
Blockchain–  a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.
Cryptocurrency – a digital currency that is secured through cryptography and often decentralized.
Cryptography – a method of securing  transmitted and stored data to prevent third party access.
Decentralized – meaning there is no single central entity (government, bank, regulator) in control
DASH – a cryptocurrency similar to Bitcoin that offers added anonymity. Previously known as Darkcoin
Decentralized applications (dApps)- a software program run and controlled by user consensus, not individuals.
ERC-20- this is the standard for Ethereum tokens to allow easy transactions and use on ERC-20 DApps. The majority of tokens released through recent ICOs are ERC-20 compliant.
Ether (ETH)- the currency produced by Ethereum for all activities in their platform. Ethereum refer to the Ether as the “Crypto-fuel” for the network.
Ethereum – created in 2013, they are now one of the most popular and successful blockchain technology platforms. Their custom blockchain allows developers to create and launch their own decentralized apps
Crypto and blockchain
Exchange – a central platform for exchanging different cryptocurrencies or specific cryptocurrencies into traditional money.
Fiat money- paper money that does not represent an underlying intrinsic value (like a commodity or good) but rather decreed legal tender by a government.
Hard cap – the predetermined limit set on fundraising by an ICO.
Initial coin offering (ICO) – an unregulated way to launch a cryptocurrency project where investors can support the project in exchange for tokens.
IOTA (MIOTA)– a distributed ledger created in 2015 based on Tangle instead of the blockchain, which allows transactions without fees
Litecoin (LTC) – a type of cryptocurrency created in 2011 which is similar to Bitcoin but has faster processing capabilities resulting in lower fees.
Mining – the process in which transactions are approved and added to the blockchain. The job can be done by anyone that meets the criteria in order to keep it decentralized. In practice, however, this process usually requires very intensive computing capabilities.
NEO – China’s first open source blockchain platform. It is similar to Ethereum but with technical variations.
Pre-sale – an opportunity to participate in an ICO before it is made available publicly.
Private Key – this is code that is created to secure and encrypt a person’s wallet. Cryptocurrency transactions can be performed when the public and private key match. This is similar to the PIN for your bank account.
Proof of Work (PoW) – the often difficult and advanced cryptographic puzzles miners must solve in order to qualify for mining.
Public Key – the unique key assigned to a cryptocurrency transaction that must be matched with the private key to reach confirmation.
Ripple (XRP) – an open source international payment platform for easy cryptocurrency transactions.
Smart contracts – a contract directly between the involved parties with no outside regulation, intervention, or censorship. Smart contract run on automated protocols and the agreement is irreversibly implemented into the blockchain network.
Soft cap – this is the minimum investment amount an ICO needs to raise. If they do reach the soft cap they will likely not be able to launch the project.
Token – the format of the pre-allocated ICO cryptocurrency that is given to investors in exchange for the amount invested.
Wallet – a software program used to store digital currencies, similar to a bank account
Whitepaper – a document created by the founders of an ICO project to inform the public of their objectives, technologies, and overall mission.