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
This is a unit of computing work for the implementation of transactions or smart contracts in the Ethereum network.
Any action on the Ethereum network requires a certain amount of electricity, computing power and miner time that must be paid. GAS in this case acts as a total indicator - how many resources are required to perform a particular transaction.
For example, the execution of a certain transaction requires 21010 GAS, the price of 1 GAS is 6 Gwei or 0.000000006 ETH, then the cost of the transaction will be 126060 GWEI or 0.00012606 ETH.
1) Mining Pool (Mining Pool) is the association of miners in order to simplify the production of cryptocurrencies.
2) Poole as a common fund. Investors create similar funds, invest their resources (this is not necessarily money, possibly investing their own time) in this fund and on behalf of the fund invest, for example, through tokens. The allocation won is distributed between the participants in the pool in proportion to the invested resources.
The minimum value of the price for token for the entire period of its existence.
This is a standard, a certain set of rules that allows developers to create tokens over the Ethereum blockchain. These tokens are known as ERC-20 tokens. The ERC-20 standard is the most common in the cryptocurrency industry today.
This is a format for attracting investments in which the sale of tokens to investors of any project is organized on a decentralized exchange, for example, Pancakeswap.
ILO (Initial Liquidity Offering) - a type of IDO when funds are sent to the liquidity pool
This is an experienced crypto investor that owns large volumes of cryptocurrency assets.
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