Simplify: Term used in crypto

Language is very important for any field. Today, let’s learn the terms used in the crypto market so that you won’t be surprised when you encounter them.

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I will list them alphabetically for everyone to follow:

A

Address : The address to receive money each time you want to transfer money.

Algorithm : In the field of cryptocurrencies, an algorithm usually refers to the hashing algorithm that the digital currency uses.

Altcoin : This term refers to other coins. Initially there was only Bitcoin until many other coins were coined this term to refer to non-Bitcoin coins. Altcoin or in full is Alternate Coins.

API : This is an acronym for Application Programming Interface which means application programming interface.

ATH : All-time high. The highest recorded price of an asset

B

Bear/bearish : downtrend, negative price, is expected to go down.

Bull/bullish : uptrend, positive price, expected to go up

Block : In the digital currency world, each block is a group of transactions and the digital currency database is a chain of blocks of these transactions.

Blockchain : Means a chain of blocks containing transactions that are linked together in the form of a chain that is closely related.

Blockchain Address : Block address, usually when a new block is created, there is always an address attached to that block.

Budget : The amount of money that you have

C

Circulating Supply : This is an index of digital currencies, it shows the total number of coins in circulation in the market of that currency.

Cryptojacking : Is an attack where attackers run a cryptocurrency mining software on your hardware without your permission.

Cryptocurrency: Means cryptocurrency, or digital currency with open source code.

D

DAPI : Stands for Decentralized Application Programming Interface, which means decentralized application programming interface, i.e. it is a programming interface for applications to interact with the decentralized system of Dash without need to interact with a server that the Dash system automatically retrieves data on to provide data or a means of communication for external programs or builds to take advantage of its underlying technology of Dash

DAO : Stands for Decentralized Autonomous Organization, which means a system that operates automatically and decentralized.

Decentralize : Means decentralization.

DeFi : Stands for Decentralized Finance

Dump : Means to discharge, or sell off the market to withdraw money.

E

Ethereum : This is the name of the first blockchain technology network capable of embedding programs capable of a complete programming language into the blockchain.

Encrypt : Means to encrypt, that is, to turn an ordinary message into a secret that normally cannot be read.

Exchange : An exchange (cryptocurrency, or securities)

F

Fa : Fundamental analysis

Fiat : Government-issued currency, such as the US dollar.

Fiat currency : A currency that has no intrinsic value but is considered valuable because a government has declared it so.

Fee : Also known as the transaction fee, is the cost that we have to pay to the network for each money transfer transaction.

Fomo : “Fear of missing out”, the regretful feeling when something skyrockets without your presence.

Fork : In the field of open source software, anyone can use someone else’s open source code for their own software as long as they continue to keep their software in source code and other people can also use it. can continue to be used. Fork is a way of taking the source code of a piece of software before then changing it to create another function.

FUD : Stands for Fear - Uncertainty - Doubt means Fear - Uncertainty - Doubt. This refers to anxiety, fear, and uncertainty when deciding to invest, buy, sell, or trade on cryptocurrency exchanges.

Funding : This is an investor term that means funding. Maybe it’s funding for projects or funding for startups.

G

Github : Since the crypto-currency sector needs to be transparent and open-source, software in this field often uses a source code management tool called Github. This is a software source code sharing and management tool that can be used for free, so it is used by many blockchain application developers because of its transparency, publicity and ability to cooperate between programmers. Its very high pellets.

Gas : a measurement of the amount of processing required by the ethereum network to process a transaction.

H

Hard wallet : This means a wallet for digital money in the form of a separate piece of hardware (or hardware wallet) rather than just a piece of software located on a computer or phone.

Hard Fork : Is a bit different in terms of changing the operating protocol of the Blockchain. This process is known as permanent separation. This situation occurs when the Nodes (miners) have not updated the software, they cannot perform block validation.

Hodl : Hold position, crypto slang word, means holding on to not letting go. can be advice in volatile markets.

I

ICO : An acronym for Initial Coin Offering, this is a form of initial capital raising, the development team can sell an initial amount of coins to the public.

Inflation : Inflation increases when the money supply is greater than the quantity of the good in the market, making the price of the good more expensive.

Investor : A person, organization want to invest in particular project

Investment : The budget that investor want to put it that project

IoT : stands for Internet of Things, which means smart devices such as smart washing machines, smart cameras, smart refrigerators, etc

Jomo: Joy of missing out - joy of being abandoned, feeling of joy when you do not participate in the pumping phase when the price drops suddenly.

K

Key : In the field of cryptocurrency, public encryption technology and electronic signatures are used

KYC : This stands for Know Your Customer which means a regulation that forces financial institutions to know about their customers. This regulation is a way for governments to combat money laundering or other types of crime in money transfers.

L

Ledger : In the field of cryptocurrencies, every transaction of cryptocurrencies is stored in a database like a ledger of accountants.

Limit order / limit buy / limit sell : Orders placed by a trader to buy or sell a cryptocurrency when the price matches a certain amount. They can be considered “for sale” signs. These orders are what are bought and sold when traders place market orders.

Liquidity : the market’s ability to buy or sell an asset combined with a relatively stable and consistent price level between transactions called liquidity

Long – margin bull position : speculating on the price up

M

Market make : (most) institutions of powerful traders - similar to sharks, whales

Mainnet : The official network. In the field of cryptocurrencies, people use two different networks: one is the official network and the other is the test network. These two networks work the same and use the same software, only having the option to run different software.

Marketcap : Total market value of a coin. This value is calculated as the most recent matching price multiplied by the total number of coins circulating in the market for a certain coin. This value may fluctuate depending on the needs of the market between buyers and sellers from time to time.

Margin trading : The exchange allows investors to participate by orders x10, 20, 100 times

Market order / market buy / market sell : an order to buy and sell on the floor at the current price. buy low and sell high.

Miner : Miners or operators of mining machines to make a profit by providing computing power to validate transactions for the digital currency network.

Mining : Mining is the process that Bitcoin and several other cryptocurrencies use to generate new coins and verify new transactions. It involves vast, decentralized networks of computers around the world that verify and secure blockchains – the virtual ledgers that document cryptocurrency transactions.

Moon : Upward price movement of an asset – surpassing the highest price ever recorded.

N

Node : A network node is a piece of software running on one computer that joins a network with other computers running the same software on a peer-to-peer network. On a peer-to-peer network, each node (node) is considered a peer.

O

Open source : Open source code. Open source is often talked about in the software industry where programmers make their software source code publicly available for anyone to see and use.

Offline transaction : The transaction which happen outside the Internet, Web

P

Pump – Upward price movement : push the price up.

Peers : Refers to the peer-to-peer network nodes in the network

Pool : This term is used with miners who provide their own equipment for validating transactions of a digital currency and in return people are paid.

Private key : Within the field of encryption, there is a field called asymmetric encryption or public encryption

Proposal : A deal between buyer and seller

Protocol : Means the standard protocol or way by which parties can communicate with each other, usually computers that can work with each other over a network.

Proof of Work : This is a technique to select which miners are worthy to be given the right to create blocks and receive rewards for validating transactions. It is also a way to encourage users to invest in machines for transaction validation and to ensure the security of the payment network. This technique allows people with faster computing power (hash functions) to have a greater chance to mine and receive prizes. By competing with each other to win by upgrading faster equipment, the ability to ensure the security of the payment network is higher.

Proof of Stake : This is another technique used to validate transactions, but instead of competing for computing power to validate and receive rewards, this technique gives priority to holders. a larger and longer amount of coins in the wallet. This technique does not use excavators and does not compete in terms of computing power for mining, so it saves equipment and energy costs for the machine to operate, but it only gives priority to those who initially have a lot of coins and coins. Turn on the wallet software for multiple operations. This does not create motivation for those who know late, and the payout is based on the number of coins in advance, so it does not create a competitive incentive for participants.

Q

Qr code : is a two-dimensional block image containing a black and white sample representing a series of data.

R

Rig : In the field of mining, a rig is a mining rig, or a rig consisting of a computer with a certain number of graphics cards used for mining.

Roi : “Return on investment”, the percentage of money that has been made against the original investment (i.e. 100% whip means someone has doubled their money).

S

Scam : A scheme, a dishonest act to deceive for personal gain.

Scaling : It is the expansion of the system (usually computers and software) to be able to meet the greatly increased access demand.

Shitcoin : A coin with no potential value or use value.

Sharding : A scaling solution for blockchain.

Solidity : One of the most popular languages in which smart contracts can be written. There are some similarities with javascript.

Short – Margin short position: speculating on the price down.

Shill : To advertise or inflate a coin, usually via social media

Smart contract : This is a new concept of embedding executable code like software programs, it is embedded in transactions so that depending on the situation that transaction can execute under different conditions. For example, a smart contract can be used for a lottery game of a group of people according to the results of the lottery, everyone transfers money and uses the smart contract until 7 pm when the lottery results are available. then the person who correctly chooses the last 2 numbers that match the special prize will receive the full amount. This is how to play numbers without the dealer. The winner instead of only receiving 70% of the total money can receive all the money of all players.

Smart contract protocol : A protocol/project that use smart contract for the transaction

Stable coin : A cryptocurrency with extremely low volatility that can be used to trade against the general market.

Swing : Zig zag price movement (up or down). It can be understood simply that the price moves in a fixed area for a long time.

T

Token : You can consider this as a proof of a smart contract and when the network is launched, whoever holds this token can get the corresponding value written in the smart contract available .

Testnet : Means test network. Testnet is a network of network nodes running the same new software mainnet but with distinguishing parameters that help software developers, testers, etc. to test and check for errors during application development. does not affect official transactions.

Transaction : It is equivalent to transferring money from one address to another.

Troll/ Trolling : An online post that is offensive, or provocative in order to cause anger and frustration to others

Transaction fee : A small service fee added to some transactions. This fee is paid to the miner who accumulates the block containing the transaction

U

Unbank : When talking about a person, it means that the person does not use a bank, but usually uses cash transactions.

V

Verify : This word means check. For transactions, verify means to check whether a transaction is valid or not, verified means it has been checked.

Volume : Means trading volume

W

Wallet : Digital wallet. Cryptocurrency wallet

Whale : A person who owns a large amount of cryptocurrency.

Conclusion

Through the article, we hope to help you understand more about some frequently used terms in the crypto market. Please continue to follow the next articles so as not to miss useful information about this market

Thanks

-Solareum team-

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