Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Fomo

The abbreviation, which is deciphered as a syndrome of lost opportunity or benefit. The negative emotional state that occurs in the crypto -investor if he did not take advantage of the presented opportunity to earn or profitably invest his funds. The peak manifestations of this state are manifested when the entire network literally buzzes about incredible Xs, that is, profits, and this user only remains, what to consider other people's earnings.

Other Important Terms

Pool

1) Mining Pool (Mining Pool) is the association of miners in order to simplify the production of cryptocurrencies. 2) Poole as a common fund. Investors create similar funds, invest their resources (this is not necessarily money, possibly investing their own time) in this fund and on behalf of the fund invest, for example, through tokens. The allocation won is distributed between the participants in the pool in proportion to the invested resources.

Pump and dumps

This is a strategy, the essence of which is to increase the cost of the coin (smell), and then sell, that is, drop the coin (ask).

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.

Altcoin

An altcoin is any cryptocurrency or token created after the Bitcoin was developed.

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.

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