Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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WAGMI

This phrase is used when a lot of good news comes out and the hope is created that coins will grow. In this state, we hear only good news, not paying attention to the bad

Other Important Terms

A certain procedure in which you need to participate in order to receive projects at an early stage (subscribe to social networks, fill out the form/glimas, participate in the twist, raise the node, participate in the Ambassador program, come to the shade, participate in the lottery on the tokensele)

Cold Storage

Cold storage refers to storing cryptocurrency on a place where the private key cannot be accessed via the internet. This can be done on a hardware wallet, paper wallet or software wallet in an offline environment.

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.

Flip

This is a crypto -investor strategy entitled "Remove cryptocurrency, sell it, as soon as possible and forget it

51% Attack

A ‘51% attack’ refers to a possible attack on a blockchain by a group of ‘miners’, who hold more than 50% of the hashrate. In such a situation the ‘miners’ have the possibility to deliberately not confirm transactions or to issue transactions twice (double-spend).

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