Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Airdrop

An airdrop is a way to distribute coins. End users can generally get coins for free or in exchange for a small task, such as subscribing to a newsletter, sending a tweet or inviting other people via a personal affiliate link.

Other Important Terms

Bullish

Bullish (from the English. Bullish - bull) The term that means optimistic mood and faith in the development of a separate token, project or the entire market.

2 Factor Authentication (2FA)

2 Factor Authentication is a double layer security measure. Most crypto exchanges use it. In order to log in, you not only need to enter a password, but also a code that you receive from the Google authenticator for example.

Liquidity

These are assets (tokens) to be sold or purchased on the market without any influence on the basic price of this asset.

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.

ERC-721

This is a standard for non -replaceable tokens (NFT) in the Ethereum network. Each separate token ERC-721 is unique in its own way and cannot be replaced by another token. This type of tokens is used for collecting, real estate, paintings and art as a whole.

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