Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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51% Attack

A ‘51% attack’ refers to a possible attack on a blockchain by a group of ‘miners’, who hold more than 50% of the hashrate. In such a situation the ‘miners’ have the possibility to deliberately not confirm transactions or to issue transactions twice (double-spend).

Other Important Terms

Scam

A fraudulent cryptocurrency project, which organized a fundraiser, but at the same time violated a number of obligations - in fact deceiving investors.

Transaction Fee

These are commission fees that the user pays to miners or validators of the network for various transactions and transactions. The commission is paid using the native tokens of a particular network, for example, on the BSC network for transactions, you need to pay in BNB.

Insight

This is a phenomenon, which is a spontaneous finding solution of any problem that arose as a result of

Wall

A huge order for a purchase or sale that can stop, respectively, a growth or fall in the course. It happens that the walls are the manipulation of whales to confuse hamsters.

Gem

This is a potentially profitable asset, which in the future can bring a lot of profit to the investor.

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