XRPs 1st Meme Coin PHNIX
Regardless if your New or Old to crypto, it’s always good to see what the latest crypto vocabulary is.
A-B
- Airdrop – Distribution of free tokens to promote a project.
- Altcoin – Any cryptocurrency other than Bitcoin.
- ATH (All-Time High) – The highest price a cryptocurrency has reached.
- Bagholder – Someone holding a crypto that has lost significant value.
- Bear Market – A prolonged period of declining prices.
- Block – A group of transactions recorded on a blockchain.
- Blockchain – A decentralized digital ledger of transactions.
- Bull Market – A prolonged period of rising prices.
- Burning – Destroying tokens to reduce supply.
- Byzantine Fault Tolerance (BFT) – A property of a blockchain to remain functional even if some nodes fail.
C-D
- CBDC (Central Bank Digital Currency) – Digital currency issued by a central bank.
- Chainlink – A decentralized oracle network.
- Cold Wallet – Offline storage of cryptocurrencies.
- Consensus – Agreement among network participants on data validity.
- Cryptography – The practice of secure communication.
- dApp (Decentralized Application) – An application running on a decentralized network.
- DAO (Decentralized Autonomous Organization) – A community-led organization without centralized authority.
- DeFi (Decentralized Finance) – Financial services without intermediaries.
- Double Spend – Attempt to spend the same cryptocurrency twice.
Dump – Selling a large number of tokens, leading to a price drop.
E-F
- ERC-20 – A standard for Ethereum tokens.
- ERC-721 – A standard for non-fungible tokens (NFTs).
- Exchange – A platform for buying, selling, and trading cryptocurrencies.
- Faucet – A website that gives small amounts of free crypto.
- Fiat – Traditional government-issued currency like USD.
- Flippening – The hypothetical event of Ethereum surpassing Bitcoin in market cap.
- Fork – A change or split in a blockchain.
- FOMO (Fear of Missing Out) – Anxiety of missing investment opportunities.
- FUD (Fear, Uncertainty, and Doubt) – Negative information spread to affect prices.
- Full Node – A computer that stores a complete copy of a blockchain.
G-I
- Gas – Transaction fees on the Ethereum network.
- Genesis Block – The first block on a blockchain.
- Governance Token – Tokens giving holders voting rights in a project.
- Halving – Reduction of mining rewards, typically for Bitcoin.
- Hash – A unique string representing data.
- Hash Rate – The computational power used for mining.
- HODL – “Hold On for Dear Life,” meaning to hold investments despite market dips.
- ICO (Initial Coin Offering) – Fundraising method for new crypto projects.
- Immutable – Incapable of being altered, a key blockchain property.
- Interoperability – The ability of different blockchains to communicate.
J-L
- JOMO (Joy of Missing Out) – Satisfaction from avoiding risky investments.
- KYC (Know Your Customer) – Verification process requiring user identity information.
- Layer 1 – The base blockchain, like Bitcoin or Ethereum.
- Layer 2 – Scaling solutions built on top of Layer 1 blockchains.
- Ledger – A record-keeping system.
- Liquidity – Ease of converting assets into cash.
- Liquidity Pool – A pool of funds for decentralized trading.
- Long – Betting on a price increase.
- LTV (Loan-to-Value) – Ratio used in crypto lending.
- Lightning Network – A Layer 2 solution for Bitcoin transactions.
M-O
- Mainnet – The live version of a blockchain.
- Market Cap – Total value of a cryptocurrency (price × circulating supply).
- Maximalist – Someone who believes only one cryptocurrency is superior.
- Mempool – A collection of pending transactions.
- Merkle Tree – A data structure used in blockchains.
- Mining – Verifying transactions and adding them to the blockchain.
- Minting – Creating new tokens or NFTs.
- NFT (Non-Fungible Token) – A unique digital asset.
- Node – A computer that participates in a blockchain network.
- Oracle – A service that provides external data to smart contracts.
P-R
- Paper Wallet – A printed record of private and public keys.
- P2P (Peer-to-Peer) – Direct interaction without intermediaries.
- Private Key – A secret code to access cryptocurrency.
- Proof of Stake (PoS) – Consensus mechanism using staked coins.
- Proof of Work (PoW) – Consensus mechanism using computational power.
- Public Key – The address used to receive cryptocurrency.
- Pump and Dump – Inflating a token’s price to sell at a profit.
- Rekt – Heavy financial loss.
- ROI (Return on Investment) – Measure of investment profitability.
- Rug Pull – A scam where developers disappear with investor funds.
S-U
- Satoshi – The smallest Bitcoin unit (0.00000001 BTC).
- Satoshi Nakamoto – Bitcoin’s mysterious creator.
- Scalability – The ability to handle increased demand.
- Seed Phrase – A recovery phrase for a crypto wallet.
- Sharding – A scalability solution dividing the blockchain into smaller parts.
- Short – Betting on a price decrease.
- Smart Contract – Self-executing agreements with coded rules.
- Stablecoin – A cryptocurrency pegged to a stable asset.
- Staking – Locking crypto to support a network and earn rewards.
- Tokenomics – The economics of a token.
V-Z
- Validator – A participant in PoS networks.
- Volatility – The rate of price fluctuations.
- Wallet – A tool for storing cryptocurrencies.
- Wash Trading – Fake trading to inflate volume.
- Whale – An individual or entity holding a large amount of cryptocurrency.
- White Paper – A document explaining a crypto project.
- Yield Farming – Earning rewards by lending or staking crypto.
- Zero-Knowledge Proof – A way to prove possession of information without revealing it.
Miscellaneous
- 51% Attack – When an entity controls most of a network’s hash rate.
- Atomic Swap – Direct exchange of cryptocurrencies without intermediaries.
- Cross-Chain – Communication between different blockchains.
- Decentralization – Lack of a central authority.
- Dusting Attack – Sending small amounts of crypto to track wallet activity.
- Hard Fork – A major blockchain protocol change.
- Soft Fork – A minor protocol update.
- Synthetic Asset – A tokenized representation of real-world assets.
- Token Burn – Permanent removal of tokens.
- Utility Token – Tokens providing access to a product or service.
- Vanity Address – Customizable crypto wallet address.
- Wrapped Token – A token pegged to another asset, like Wrapped Bitcoin (WBTC).
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