Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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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.

Other Important Terms

Paper Hands

This is an investor with weak hands that gets rid of coins at the first panic and detecting increased risk

Influenser

This is a very famous and authoritative personality in the crypto industry, who is the leader of opinions and affects the minds of many users.

Food/ FAD

These are manipulations performed by some persons in order to spread obviously false or negative information, which will later cause a decrease in the rating of any project, the emergence of distrust of it or will contribute to the fall of the price of token.

Pamp

This is a sharp increase in the price of an individual asset or market as a whole. Picking/Pimpapy means to artificially increase the price.

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’.

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