emmarniTechs all terminologies in crypto

Hello and once again welcome to my blog, on this article I am going to enlighten you on some terminologies in bitcoin, here are all the bitcoin terminologies explained. Firstly, Maybe you might have heard about cryptocurrencies but you don’t know so much about it, if so then CLICK HERE

This post was made to enlighten my blog readers about bitcoin and it was written a year ago but its the best article that was ever written to explain Bitcoin and indeed it is ALL THAT YOU NEED TO KNOW ABOUT BITCOIN.

But since its one-year-old, there has been a lot of changes in the post since the world is moving forward and there has been a lot of changes even on HOW TO BUY BITCOINS FROM EXCHANGES, but that’s why this blog is here I am going to be teaching everything about cryptocurrencies so you have to be coming here to check for latest article and also subscribe as to not to miss any new post. so let’s get started.
BELOW ARE SOME TERMS IN CRYPTO CURRENCIES :

CRYPTO CURRENCYcrypto currency - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA crypto currency is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency.

Ex Bitcoin and Altcoin.

♦ ALTCOINaltcoin emmarnitechs - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyAny form of digital crypto currency that isn’t Bitcoin, an alternative coin.


♦ ADDRESSbtc address emmarnitechs - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA code used to store/send/receive bitcoins and other cryptocurrency consisting of 26-35 alphanumeric characters. It is also the public key in the pair of keys used by bitcoin holders to digitally sign transactions.

Ex: 1Exc45sziXmgC3BsCkKUx9hzj2jgEMGe
   
♦ BLOCKCHAIN

blockchain 3277336 640 - Bitcoin Terminologies Explained! All Terms In Crypto Currency
Image by mmi9 from Pixabay

A full list of all the blocks that have been mined since the creation of Bitcoin.

MINING DIFFICULTYmining difficulty - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyThis number determines how difficult it is to hash a new block. It is related to the maximum allowed number in a given numerical portion of a transaction block’s hash. The lower the number, the more difficult it is to produce a hash value that fits it. 


♦ DDoSddos - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA distributed denial of service attack uses large numbers of computers under an attacker’s control to drain the resource of a central target.


♦ FIATfiat - Bitcoin Terminologies Explained! All Terms In Crypto Currency

Any form of physical paper currency. Regulated and Centralized.


♦ ESCROWescrow - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyThe act of holding funds or assets in a third-party account to protect them during an asynchronous transaction.


♦ FOMOfomo - Bitcoin Terminologies Explained! All Terms In Crypto Currency Fear of Missing out.


♦ FUDfud - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyFear, Uncertainty, Doubt.


♦ FAUCETfaucet - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA technique used when first launching an altcoin. A set number of coins are pre-mined, and given away for free, to encourage people to take interest in the coin and begin mining it themselves.


 

♦ ICOico in a tweet - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyAn Initial Coin Offering,  a new cryptocurrency project to raise money for their project by offering a select amount of coins for sale to the public at base price.

♦ HASH hash - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA mathematical process that takes a variable amount of data and produces a shorter, fixed-length output.

♦ HARD FORKhardfork - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyAn alteration to the block structure of bitcoin or any coin that changes the difficulty rules.


♦ MININGmining - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyThe act of generating new bitcoins by solving cryptographic problems using computing hardware.


♦ PUMP AND DUMPpump and dump - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyInflating the value of a financial asset that has been produced or acquired cheaply, using aggressive publicity and often misleading statements.


♦ QR CODEqr code - Bitcoin Terminologies Explained! All Terms In Crypto Currency A two-dimensional graphical block containing a monochromatic pattern representing a sequence of data


♦ SHORTINGshorting - Bitcoin Terminologies Explained! All Terms In Crypto CurrencySelling a cryptocurrency In hopes of buying it at a lower price at a later time to gain profit


WALLETwallet - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA digital or physical address in which cryptocurrency can be stored/sent/received. Accessible through a private key.

Example: Myetherwallet, trezor, ledger nano

 

♦ WHALEwhale - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyA whale isSomeone who possesses a majority percentage of a cryptocurrency. Referred to as a whale.
   

WHITE PAPERwhitepaper - Bitcoin Terminologies Explained! All Terms In Crypto CurrencyDocumentation describing a cryptocurrencies protocol in detail.

Ex: satoshi Nakamoto bitcoin whitepaper.

 And that’s all the terms in cryptocurrency, don’t forget to share, follow us on Facebook, Twitter and subscribe and be the first to receive latest posts and videos about cryptocurrencies.
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14 COMMENTS

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