Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Tao

"Decentralized autonomous organization", which is controlled by smart contracts. DAO does not imply a hierarchy, the organization’s data operate transparently according to the rules prescribed in the code. In order to become a member of the DAO and have the right to vote, it is necessary to purchase native tokens, the more tokens, the greater the weight has the voice.

Other Important Terms

Node

A computer (server) connected to a blockchain and performing the functions of confirming transactions, creating blocks and storing copies of blockchain. In order for the computer (server) to become a node, it is necessary to install special software.

Sail or Tokeneil

This is the format of crowdfunding of cryptocurrency means, which allows you to purchase project tokens at low prices and in the early stages before they are available for a wide audience of users on trading floors. Pre-Eed Round (Pre-SID stage) is the earliest stage of financing of the project, in which only partners and large funds at the lowest price of token participate, but with the highest risks SEED/Strategic Round (SID/Strategic round) - the next stage at which the price of token is higher, but the risks are lower, because the degree of development of the project is better (as a rule is MVP) - only funds and partners participate Private Sale (Private Sale) - small funds, clubs of investors, media partners are involved, distinguish direct allocations for influents - the price of token is even higher and the risks below. Large projects with TIR1-2 funds rarely use privat Public Sale (public round) - public sail to buy in front of listing for everyone - the price of token is maximum, risks minimal Community Sale (community Round) - Sale for participants in a particular community HOLDER SALE (round for holders) is a sail for holders of certain

Anti-Money Laundering

AML is the abbreviation for ‘anti-money laundering’. AML stands for policy and legislation on money laundering. This prevents illegally acquired funds from being converted into a legal variant. Within the crypto world, it is no longer unusual for AML techniques to be used by exchanges and wallets. This term is often used as AML/KYC, where KYC stands for ‘Know your customer’.

Blockchain

Blockchain is most simply defined as a decentralized, distributed ledger technology that records the provenance of a digital asset.

Scam

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

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