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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Market Cap"
The market capitalization shows the value of a company, market or sector at a point in time, it is commonly used to rank relative size. In equities, it refers to the total market…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "ICO"
ICO (Initial coin offering) is an unregulated means by which a cryptocurrency project, early stage, can raise money from supporters by issuing tokens. ICO is often referred to…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Segregated Witness (SegWit)"
Segregated Witness is a process where the block size limit on a blockchain is increased by removing digital signature data and moving it to the end of a transaction to free up…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Lightning network"
Lightning Network is a low latency, off chain P2P system for making micropayments of cryptocurrencies. Lightning Network offers features like instant payments, scalability, low…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "ERC-20"
A token standard for Ethereum which ensures that the tokens perform in a predictable way. The standard allows the tokens to be easily exchangeable and able to work with…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Dapp"
Dapp Dapp (Decentralised application ) is a kind of application that is open source, operates autonomously, has its data stored on a blockchain, incentivised in the form of…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Wallet"
Wallet (Hardware/HD/Paper/Software) A physical or software object where you have a combination of public and private key stored. Hardware wallet: A hardware device which…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Confirmation"
Confirmation When a Bitcoin transaction takes place, the blockchain confirms the transaction’s validity. The confirmation is done by miners every 10 minutes when a block is…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Sharding"
Sharding is a type of scaling solution for blockchains. Generally, every node in a blockchain network houses a complete copy of the blockchain. Sharding is a method that allows…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology:"51% attack"
A 51% attack is a situation where more than half of the network's hashpower is in the hands of a single individual or concentrated group. The "attacker(s)" would be able to…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "PoS-Proof of Stake"
A Proof of Stake system requires the prover to show ownership of a certain amount of money, or stake. Proof of Stake works similarly to PoW (Proof of Work) except that instead…
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traveljunkie (43)in #bitcoin • 7 years ago
Crypto terminology: "PoW-Proof of Work"
When it comes to Proof of Work, computers on the network compete to solve mathematical formulas and win the right to confirm transactions into the blockchain, and thus, secure…
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traveljunkie (43)in #bitcoin • 7 years ago
The lessons I’ve learned since getting involved with cryptocurrencies
The lessons I’ve learned since getting involved with cryptocurrencies Well, to tell you the truth, I don’t really have those amazing stories that you see in the headlines. I…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Fork"
A fork is the permanent divergence of an alternative operating version of the current blockchain. Forks come into existence when: -a 51% attack occurs -a bug in the program…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "SHA-256"
SHA-256 is a member of the SHA-2 cryptographic hash functions designed by the NSA. SHA stands for Secure Hash Algorithm. Cryptographic hash functions are mathematical operations…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Node"
A node refers to any computer or other device that's running the Bitcoin client software and participates in the peer-to-peer network, which it supports through validation and…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Mining"
Mining is the term used for discovering and solving blocks along the blockchain. A reward is given for solving the algorithm and lengthening the chain, called a mining reward.…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Distributed and Central ledger"
A distributed ledger is an agreement of shared, replicable and synchronized data, in this case spread across multiple networks, across many CPU’s. A central ledger is the…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "Halving"
Halving is the reduction of mineable reward every so many blocks. The Bitcoin block mining reward halves every 210,000 blocks, the coin reward will decrease from 12.5 to 6.25…
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traveljunkie (43)in #cryptocurrency • 7 years ago
Crypto terminology: "ASIC/ASIC MINER"
ASIC mining is a crafty method of mining various coins at a much faster rate than any normal desktop or laptop might allow. Essentially what an ASIC, or Application Specific…
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