Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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This is a transaction that is carried out in order to earn money to increase the cost of a cryptocurrency asset. The algorithm of actions is as follows: 1) The trader believes that the price for token x will begin to grow in the near future, so he buys a certain number of these tokens on the exchange 2) then patiently waits until the price for token x grows to a certain mark 3) As soon as this happens, the trader sells tokens x at a higher price Profit: The difference between the price of the sale and the purchase price.

Other Important Terms

Double Spending

With digital currency, there is a risk that the holder could make a copy of the digital token and send it to a merchant or another party while retaining the original.

Scam

A fraudulent cryptocurrency project, which organized a fundraiser, but at the same time violated a number of obligations - in fact deceiving investors.

Insight

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

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.

Gem

This is a potentially profitable asset, which in the future can bring a lot of profit to the investor.

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