The world of cryptocurrencies can be technical, complex, and sometimes overwhelming for those starting from scratch. In this section, we have compiled a cryptocurrency glossary with key definitions to understand this exciting technology.
Cryptocurrency Glossary
Crypto Wiki usually refers to an online glossary-style resource that explains common cryptocurrency and blockchain terms in simple language.
Account Abstraction: Account abstraction is a blockchain design where a user’s “account” is a programmable smart contract wallet instead of traditional externally owned accounts tied to a single private key.
ASIC Resistance: ASIC resistance is the capacity of blockchains to undermine the benefits of mining on them using specialized mining equipment.
ADX Indicator: The Average Directional Index (ADX) is a popular technical analysis tool used by both traditional and cryptocurrency traders.
All-Time High (ATH): In cryptocurrency, an all-time high (ATH) refers to the highest price a digital asset has ever reached in its trading history.
All-Time Low (ATL): An All-Time Low (ATL) refers to the lowest price a cryptocurrency has ever reached since it began trading on public exchanges.
Altcoin: Any cryptocurrency that is not Bitcoin.
Bitcoin (BTC): Bitcoin is a decentralized digital currency created in 2009 that operates on a peer-to-peer network without involvement of banks or governments.
Bitcoin ATM: Sometimes referred to as a BTM or Crypto ATM, a Bitcoin ATM is an internet-connected kiosk resembling a traditional cash ATM.
Bitcoin Cash (BCH): Bitcoin Cash (BCH) is a cryptocurrency focused on fast, low-fee payments, created as a fork of Bitcoin in 2017.
Bitcoin ETF: A Bitcoin ETF is an investment vehicle that tracks the price of Bitcoin and trades on traditional stock exchanges.
Blockchain: A blockchain is a decentralized, distributed digital ledger that records transactions across a network of computers.
Bot Trading: Bot trading refers to the use of automated software programs to execute trades on behalf of users.
Brave Browser: Brave Browser is a free, open-source web browser focused on privacy and security.
Central Bank Digital Currency (CBDC): A central bank digital currency (CBDC) is a digital form of fiat money issued and regulated by a country’s central bank.
Circle (USDC): Circle USDC (USD Coin) is a digital dollar stablecoin issued by Circle, a financial technology company.
Coinbase: Coinbase Exchange is a leading cryptocurrency trading platform based in the United States.
Crypto Derivatives: Crypto derivatives are financial instruments that derive their value from underlying cryptocurrency assets.
Crypto Staking: Crypto staking means locking up certain cryptocurrencies to help run a proof‑of‑stake (PoS) or similar network and, in return, earning rewards (APY).
Crypto Wallet: A crypto wallet is a digital tool that allows users to interact with blockchain networks and manage their cryptocurrency holdings.
D Decentralized Application (DApp): A software program that runs on a blockchain or peer-to-peer network, operating without a central authority.
Decentralized Finance (DeFi): Decentralized Finance (DeFi) is an innovative financial system that operates on blockchain technology to provide peer-to-peer financial services.
Decentralized Exchange (DEX): DEXs are blockchain applications that offer more tokens tradable instantly without a custodial entity.
DeFi Wallet Scam: A DeFi wallet scam is a fraudulent scheme designed to exploit users in the decentralized finance space.
Dogecoin (DOGE): Dogecoin (DOGE) is a popular cryptocurrency that started the meme coin phenomenon.
Ethereum (ETH): Ethereum is a decentralized blockchain platform that enables the creation and execution of smart contracts.
Hashrate: The measurement of how many cryptographic calculations a blockchain network or mining device can perform per second.
Hot Wallet: A software-based cryptocurrency wallet that is connected to the internet, allowing for easy and frequent transactions.
Metaverse: A shared, immersive digital universe where people interact, socialize, work, and play using virtual and augmented reality technologies.
Node: A Node is a computer or device that connects to a blockchain network, verify, and share transaction data while ensuring the network’s security and decentralization.
Private Key: A secret, alphanumeric code that proves ownership of a user’s cryptocurrency and allows them to authorize transactions.
Proof of Stake (PoS): Proof of Stake (PoS) is a consensus mechanism used in blockchain networks to validate transactions and create new blocks.
Public Key: An address, derived from a private key, that users share to receive funds and that is openly visible on the blockchain.
Ripple (XRP): Ripple XRP is a digital asset and cryptocurrency that operates on the XRP Ledger, a decentralized blockchain platform.
Wallet: A crypto wallet is a digital tool that allows users to interact with blockchain networks and manage their cryptocurrency holdings.
Web3: Web3 is the next version of the internet where users own their data, assets, and identity. It runs on blockchains instead of centralized companies.
If you want to work in the cryptocurrency field, it’s essential to know about Crypto Wiki. This article provides detailed information about the Cryptocurrency Glossary.
