A-Z of Cryptocurrency Terminology Cryptocurrency Vocabulary

Bitcoin Vocabulary

The two best known hardware wallets are the Trezor and the Ledger Nano S. There are also e.g. Cryptographic Signature — A particular Bitcoin wallet and its corresponding private key are connected via cryptographic wizardry. Bullish — an expectation that price is going to increase. Bubble — A bubble occurs when the prices of a commodity (here — crypto-currencies) in the market significantly exceed the intrinsic value of this commodity. Bubbles can “burst” at any time within a very short time, which causes a →bear market to be created.

The name of a decentralized p2p crypto-currency network. Buy Bitcoin Worldwide receives compensation with respect to its referrals Bitcoin Vocabulary for out-bound crypto exchanges and crypto wallet websites. Virgin Bitcoin are bitcoins that are purchased directly from miners.

Limit Order/Limit Buy/Limit Sell

Distributed Ledger Technology or DLT — Mostly describes →Blockchain (or blockchain-like) technologies. Distributed ledger means that several https://www.tokenexus.com/ participants in the network have a complete copy of all transactions. ASIC — stands for Application Specific Integrated Circuit.

Premine can be fraudulent, but it can also be seen as a means of paying for development and listing on exchanges. Lightening Network — is a payment protocol which is operational on top of the blockchain which is capable of millions to billions of transactions per second across the entire network. Has been touted as one of the most potent solutions to the cryptocurrency scaling issue. IOTA — IOTA is a cryptocurrency that wants to penetrate the Internet of Things market. Hard Fork — new blockchain software that is non-backwards compatible. This causes a cryptocurrency to split into 2 separate currencies.

Medium of Exchange

Cryptocurrency activities like purchasing, trading, holding, and selling have inherent risks. Readers should exercise due diligence before participating. CoinSutra and its writers are not responsible for any investment losses from acting on website or social media content. Bitcoin (₿) is a cryptocurrency invented in 2008 by person or persons unknown but using the name Satoshi Nakamoto. The first use of Bitcoin was in 2009 when it was released as open-source software.

Bitcoin Vocabulary

Decentralized — In a decentralized system, the users are linked to each other via →P2P. There is no central authority, with special privileges. Anyone can join a decentralized network, it is difficult to take offline and – in the best case – almost impossible to hack.

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