Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Crane

This is a special application or site that allow you to get a certain number of so -called test tokens on your wallet and use them in the future to perform various tasks, for example, twisters.

Other Important Terms

This is a copy of any token transferred from one blockchain to another. There are many blockchains in the cryptocurrency industry: Bitcoin, Ethereum, Cosmos, Avalanche, etc. Blockchains are deprived of the opportunity to "understand each other": everyone acts according to their own rules and speaks their own language. Each blockchain has its own Native token - a coin that is used to pay for the commission: for the Bitcoin network, this is bitcoin (BTC) for Ethereum - ETH For Cosmos - Atom For Avalanche - Avax If you want to carry out any actions, for example, send a USDT tokens to the EThereum network to another wallet, the commission will have to be paid in ETH tokens if Avalanche is an AVAX commission, etc. However, if you decide to send your USDT from Ethereum to Avalanche, your USDT will be lost. Why? Because USDT on the Ethereum and USDT network on Avalanche is not the same thing, because we remember that each blockchain lives according to its own rules. And what to do if you urgently need to send your USDT from one network to another? For these purposes, cross -miners were invented - special applications that allow you to translate tokens from “one language to another”, that is, from one blockchain to another. In one network, the token is blocked, and in another - a copy is created that does not lose its original value. For example, if you transfer BTC from the Bitcoin network to Ethereum, it will become WBTC, i.e. wrapped.

Dior or Dayor

The abbreviation, which stands for "conduct your own research." This term is used in cases where it is recommended to independently study the project, get acquainted with its white paper, see ratings on various aggregators, etc., and not to believe the word for other investors.

Account

Excount on the exchange or in the service Multiakacounds (cartoons, cartoons) - several accounts that belong (Athenicated) to one person, but decorated on different people (relatives, acquaintances) Drop (astronaut) - a person whose documents are drawn up by a multi -account Multiakking (cartoon) - an investment (speculative) process that uses multi -accense Abusing (from the English. Abuse - abuse) - use all the capabilities of the system, violating the established rules - for example, multipacing or using bots/scripts

Pamp

This is a sharp increase in the price of an individual asset or market as a whole. Picking/Pimpapy means to artificially increase the price.

Cryptoinvestor

This is a person who interacts with a cryptocurrency industry - invests, engages in trading, performs twinets, etc. Moreover, he does it consciously and constantly develops in this industry.

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