Crypto (C1)
halving
- Bitcoins have a finite supply, which makes them a scarce digital commodity - The total amount of bitcoins that will ever be issued is 21 million. - The number of bitcoins generated per block is decreased 50% every four years. - This is called "halving." - The final halving will take place in the year 2140.
Node
A computer that connects to a blockchain network.
hot wallet
A cryptocurrency wallet that is connected to the internet for hot storage of cryptoassets
cold wallet
A cryptocurrency wallet that is in cold storage, i.e. not connected to the internet.
Blockchain
A distributed and decentralized ledger that records and verifies transactions and ownership, making it difficult to tamper with or shut down.
Gas
A fee that developers have to pay to the Ethereum network in order to use the system. Gas is paid in ether, the native cryptocurrency of Ethereum.
Stablecoin or Digital Fiat
A stablecoin pegs its value to some other non-digital currency or commodity. A digital fiat represents a fiat, or government-backed currency on the blockchain. (Example: Tether, which is pegged to the U.S. dollar)
Hash
A unique string of numbers and letters that identify blocks and are tied to crypto buyers and sellers.
token
A unit of value on a blockchain that usually has some other value proposition besides just a transfer of value (like a coin).
Coinbase
Another name for the input used in a bitcoin's generation transaction.
block
Groups of data within a blockchain.
HODL
Stands for "Hold On for Dear Life" though the term originated from a user typo on a Bitcoin forum in 2013. It refers to a passive investment strategy in which people buy and hold onto cryptocurrency — instead of trading it — in the hopes that it increases in value.
private key
The encrypted code that allows direct access to your cryptocurrency. Like your bank account password, you should never share your private key
Genesis Block
The first or first few blocks of a blockchain
Vitalik Buterin
The founder of Ethereum. An early developer of bitcoin.
Decentralization
The principle of distributing power away from a central point. Blockchains are traditionally decentralized because they require majority approval from all users to operate and make changes, rather than a central authority.
mining
The process whereby new cryptocurrency coins are made available and the log of transactions between users is maintained.
Satoshi Nakamoto
The pseudonymous inventor or inventors of bitcoin.
Ethereum
The second largest cryptocurrency by trade volume, Ethereum is a crypto network and software platform that developers can use to create new applications, and has an associated currency called ether.
peer-to-peer
Two users interacting directly without a third party or intermediary
fork
When a blockchain's users make changes to its rules. These changes to the protocol of a blockchain often result in two new paths — one that follows the old rules, and a new blockchain that splits off from the previous one. (Example: a fork of Bitcoin resulted in Bitcoin Cash).
public key
Your wallet's address, which is similar to your bank account number. You can share your public wallet key with people or institutions so they can send you money or take money from your account when you authorize it.
cryptocurrency
a digital or virtual currency that uses cryptography for security
Bitcoin Cash
a hard fork of the cryptocurrency bitcoin; increases the size of blocks, allowing more transactions to be processed
Altcoin
any cryptocurrency that isn't Bitcoin
decentralized finance
is money relations that mediate the circulation of enterprises, non-government organizations and households.
digital gold
other name of bitcoin
ledger
the group of accounts maintained by a company
Bitcoin
the most popular and fastest-growing digital currency
tamper
to interfere with
non-fungible token
units of value used to represent the ownership of unique digital items like art or collectibles. NFTs are most often held on the Ethereum blockchain.