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Cryptocurrency and Blockchain Dictionary

A complete list of crypto definitions

Cryptocurrency and blockchain glossary

Commonly used terms in the world of blockchain and cryptocurrency

Terms commonly used in the world of blockchain and cryptocurrency

IDO

This is a format for attracting investments in which the sale of tokens to investors of any project is organized on a decentralized exchange, for example, Pancakeswap. ILO (Initial Liquidity Offering) - a type of IDO when funds are sent to the liquidity pool

Other Important Terms

Stakeing

This is a way of obtaining passive earnings. This method is based on the Proof-OF-Stake algorithm. Its essence is to keep the tokens on the wallet to obtain the right to participate in the extraction of cryptocurrencies. Tokens are blocked for a certain period of time and are used to ensure the activity of the blockchain. The user receives awards for performing these actions. Steering is a kind of analogue of a bank deposit at a certain percentage.

Pending

This is the stage of waiting for a transaction. For example, the user sent funds to another wallet, but immediately this transfer will not occur, because for some time this transaction is checked by special services, and is in processing. On the user side, this transaction will be marked with "Pending".

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.

Wrapped token

This is a copy of any token transferred from one blockchain to another. There are many blockchains in the cryptocurrency industry: Bitcoin, Ethereum, Cosmos, Avalanche, etc. Blockchains are deprived of the opportunity to "understand each other": everyone acts according to their own rules and speaks their own language. Each blockchain has its own Native token - a coin that is used to pay for the commission: for the Bitcoin network, this is bitcoin (BTC) for Ethereum - ETH For Cosmos - Atom For Avalanche - Avax If you want to carry out any actions, for example, send a USDT tokens to the EThereum network to another wallet, the commission will have to be paid in ETH tokens if Avalanche is an AVAX commission, etc. However, if you decide to send your USDT from Ethereum to Avalanche, your USDT will be lost. Why? Because USDT on the Ethereum and USDT network on Avalanche is not the same thing, because we remember that each blockchain lives according to its own rules. And what to do if you urgently need to send your USDT from one network to another? For these purposes, cross -miners were invented - special applications that allow you to translate tokens from “one language to another”, that is, from one blockchain to another. In one network, the token is blocked, and in another - a copy is created that does not lose its original value. For example, if you transfer BTC from the Bitcoin network to Ethereum, it will become WBTC, i.e. wrapped.

Account

Excount on the exchange or in the service Multiakacounds (cartoons, cartoons) - several accounts that belong (Athenicated) to one person, but decorated on different people (relatives, acquaintances) Drop (astronaut) - a person whose documents are drawn up by a multi -account Multiakking (cartoon) - an investment (speculative) process that uses multi -accense Abusing (from the English. Abuse - abuse) - use all the capabilities of the system, violating the established rules - for example, multipacing or using bots/scripts

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