Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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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.

Other Important Terms

Paper Hands

This is an investor with weak hands that gets rid of coins at the first panic and detecting increased risk

Altcoin

An altcoin is any cryptocurrency or token created after the Bitcoin was developed.

This is a format for attracting investments in which the organization sells part of its assets (tokens) in exchange for cryptocurrencies. ICO is an analogue of an IPO in the cryptocurrency market, only instead of shares/bonds are used project tokens. Who (Wallet Holder Offering) - a type of ICO, which is carried out only by owners of certain wallets

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’.

ERC-721

This is a standard for non -replaceable tokens (NFT) in the Ethereum network. Each separate token ERC-721 is unique in its own way and cannot be replaced by another token. This type of tokens is used for collecting, real estate, paintings and art as a whole.

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