A few Terms that can Come Across Your Way

in #cryptocurrency7 years ago

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Altcoin:

  • Every coin that is an alternative to the Bitcoin is called an altcoin.

Fiat:

  • Is the generic term of all the today's conventional currencies like USD and EUR.

Coin Market Cap:

  • It is a comparison platform for cryptocurrency where you can see the current market capitalisation of a cryptocurrency.

ICO:

  • ICO is short for Initial Coin Offerings. It is an unregulated crowdfunding method used by companies whose business model is based on cryptocurrencies.

Node:

  • A computer that is linked to a blockchain network is also called a node. A node saves the complete blockchain of its connected network. The more nodes a blockchain has the saver and faster it is.

Smart Contracts:

  • smart contracts are applications or digital processes that are executed automatically as soon as two parties have independently verified themselves via the blockchain

Tokens:

  • A token can be considered a stamp or a voucher

Shill:

  • The Shill is a bidder who pushes prices up by the order of an investor group or in the services of a client.

Dump:

  • describes a loss of value of a currency, which often falls back to its original price after falling down

Pump:

  • Explains the intentional increase in the value of coins, through frequent purchases and the general publicity of this process

FUD:

  • "Fear, Uncertainty and Doubt" short FUD; are mostly false information and serve as an attack and propaganda against cryptocurrencies with the aim of causing confusion and uncertainty