Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Hot wallet

This is a wallet that operates in online mode and is used to store cryptocurrencies. Examples: Metamask and Keplr.

Other Important Terms

Profit

This is a profit in various types obtained as a result of investment activities.

Tokenomics

This is the economic model of token, which sets out the main aspects associated with the creation of token, its distribution, management, etc.

Scam

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

This is a standard for non -replaceable tokens (NFT) in the Ethereum network. Each separate token ERC-721 is unique in its own way and cannot be replaced by another token. This type of tokens is used for collecting, real estate, paintings and art as a whole.

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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