Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Sid Fraza

This is a set of 12–24 words in a certain order that generate private keys for wallets according to various algorithms. This phrase must be stored very reliably and not showed anyone.

Other Important Terms

A certain procedure in which you need to participate in order to receive projects at an early stage (subscribe to social networks, fill out the form/glimas, participate in the twist, raise the node, participate in the Ambassador program, come to the shade, participate in the lottery on the tokensele)

Flip

This is a crypto -investor strategy entitled "Remove cryptocurrency, sell it, as soon as possible and forget it

ICO

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

Hot wallet

This is a wallet that operates in online mode and is used to store cryptocurrencies. Examples: Metamask and Keplr.

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).

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