Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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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.

Other Important Terms

Sid Fraza

This is a set of 12–24 words in a certain order that generate private keys for wallets according to various algorithms. This phrase must be stored very reliably and not showed anyone.

Volatility

This is a fluctuation in the price of the asset or its profitability for a certain period of time. As a rule, the higher the volatility of the asset, the higher the risk. The prices of such assets often fluctuate and for a short period of time can greatly go into plus or minus. The volatility is has a strong psychological effect on investors: with high price fluctuations, panic occurs, uncertainty presses and in the end the drain of securities at the very bottom begins, and then experiences from such manipulations.

Listing

This is the process of adding a new token to the exchange, as a result of which token becomes affordable for trading.

Insight

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

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.

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