Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Stakeing

This is a way of obtaining passive earnings. This method is based on the Proof-OF-Stake algorithm. Its essence is to keep the tokens on the wallet to obtain the right to participate in the extraction of cryptocurrencies. Tokens are blocked for a certain period of time and are used to ensure the activity of the blockchain. The user receives awards for performing these actions. Steering is a kind of analogue of a bank deposit at a certain percentage.

Other Important Terms

Fomo

The abbreviation, which is deciphered as a syndrome of lost opportunity or benefit. The negative emotional state that occurs in the crypto -investor if he did not take advantage of the presented opportunity to earn or profitably invest his funds. The peak manifestations of this state are manifested when the entire network literally buzzes about incredible Xs, that is, profits, and this user only remains, what to consider other people's earnings.

Bitcoin domination

This is the ratio of market capitalization of bitcoin to the sum of the market capitalizations of all cryptocurrencies.

Diamond Hands

This is an investor, with strong hands, who, in spite of everything, holds coins. The term denotes a strong player in the market

Airdrop

An airdrop is a way to distribute coins. End users can generally get coins for free or in exchange for a small task, such as subscribing to a newsletter, sending a tweet or inviting other people via a personal affiliate link.

Cold Storage

Cold storage refers to storing cryptocurrency on a place where the private key cannot be accessed via the internet. This can be done on a hardware wallet, paper wallet or software wallet in an offline environment.

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