Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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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.

Other Important Terms

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’.

Bear Market

This is the period in the cryptocurrency market, which is accompanied by stagnation or falling prices for cryptocurrency assets.

Tokenomics

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

Bitcoin domination

This is the ratio of market capitalization of bitcoin to the sum of the market capitalizations of all cryptocurrencies.

Paper Hands

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

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