Cryptocurrency and Blockchain Dictionary

A complete list of crypto definitions

Cryptocurrency and blockchain glossary

Commonly used terms in the world of blockchain and cryptocurrency

Terms commonly used in the world of blockchain and cryptocurrency

AMM

Automated Market Makers (AMMs) disrupt the traditional way that buyers and sellers come together. So, instead of two parties coming to an agreement, traders can instead interact directly with a smart contract. 

Other Important Terms

Pump and Dump

This term became synonymous with the ICO boom. Hucksters would launch a new “futility” token and pump money into it initially. After the price pumped, they would dump it selling it for quick profits. DeFi tokens have the advantage of being utility tokens rather than futility tokens

BlockChain Explorer

Blockchain explorer provides block, transaction, and address data for different cryptocurrencies like bitcoin, ethereum and litecoin. 

Block Reward

The block reward is the payment that is offered to the node that is securing the blockchain. In the case of Bitcoin, which is has a Proof-of-Work consensus algorithm, these would be the miners. The payment is in the form of the native cryptocurrency of that blockchain. The amount is a predetermined reward per block, but often that is supplemented with the fees that are paid for the transactions that block contains. For Bitcoin the current block rewards are cut in half every four years. This is called the ‘halvening’.

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).

DeFi

 DEFI is short for Decentralized Finance - and refers to the whole of the decentralized financial ecosystem currently under development.


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