Inventory: 58 terms that have to be known to chat with the chain people

The technology of the encryption circle is dazzling, only those terms, which are often difficult to understand, become the first obstacle to the learning blockchain of Xiaobai.

Today, the battalion commander sorts out 58 common blockchains for you. For those small partners who are not particularly familiar with the blockchain industry, they must be collected and kept in mind.

Not much to say, let's get started!


Airdrop Airdrop

Let's start with an enjoyable thing like airdrop. One day, you wake up and see that there are some unknown altcoins on your wallet (see below), which is called "airdropping." This method of currency distribution is very popular in 2017 as it will lead to further research.

2. Altcoin altcoin

Altcoin refers to a cryptocurrency other than Bitcoin (BTC). There are thousands of altcoins currently in existence, and some even have separate blockchain systems.

3. AMA

AMA is the abbreviation of 'Ask Me Anything', which refers to a series of questions that members of the company are asked, usually through Youtube live, blog posts or answers on Reddit.

4. AML

AML stands for “anti-money laundering” policies and laws. This can prevent legalization of illegally obtained funds. Unfortunately, the lofty goal of decentralization of blockchain has produced the side effects that are exploited by exchange and wallet founders.


5. Bearish Bear Market

You know the animal like a bear. When the bear attacks, it puts its claws on the upper part of the prey and then nails it to the ground. Now imagine the cryptocurrency market as a prey, and when the participants are bearish, all prices will fall. The bear market represents the red market.

6. Blockchain blockchain

The record set of the latest bitcoin transactions is called a "block block", and people use cryptography to link blocks together and encrypt them. This HackerNoon guide explains the concept of blockchain in simple terms.

7. Bounty program bounty event

This has nothing to do with the Bounty chocolate bar. Bounty programs refer to tasks assigned by the team behind the project. The tasks can be anything, such as joining a telegraph channel, translating a white paper, and so on. After completing the task, the people assigned to the task can get rewards, then they can go buy some good Bounty bounty

8. Bullish Bull Market

Let us return to the animal world. The bull is an animal that attacks by lifting the prey from the ground into the air with a horn. Similarly, in this case the prey is the cryptocurrency market, but we hope that the price of the market will continue to rise as it was attacked by the bulls.


9. Candlestick Chart Candlestick Chart (also known as K-line chart)

The candle chart (also known as the K-line chart) is a way of representing transactions. A candle on the map represents a specific period of time (one day, one hour, one quarter of an hour, etc.). The main body of the candle represents the opening and closing price. The peak represents the highest and lowest price during this period.

10. Circulating Supply

The total number of tokens that can be traded freely.

11. CMC

CMC is an acronym for Coinmarketcap, a website that lists exchanges and cryptocurrencies. This should be the browser homepage for all cryptocurrency enthusiasts!

12. Cryptocurrency Exchange cryptocurrency exchange

A digital market where cryptocurrencies can be bought and sold. Security is high, not a scam like ROKKEX. By the way, we provide a basic trading chart for young cryptocurrency practitioners to better understand what is.


13. ERC-20

The ERC-20 token is based on the Ethereum (ETH) network and is a token type created by the Ethereum Smart Contract. ERC-20 is a token standard that describes the functions and events that such a token contract must implement.

14. Ether Ethereum

Ether (ETH) is the main cryptocurrency of the Ethereum network and the second largest currency after Bitcoin (BTC). It is also known as the "encrypted fuel" of the Ethereum network because it helps in the execution of smart contracts.


15. Fiat French currency

Not that car manufacturer! Fiat is a currency that the government declares as legal tender, such as the dollar and the euro.

16. FOMO

The acronym for "Fear of Missing Out".

17. Fork fork

The fork is to split the blockchain into two versions. We have a related awesome article devoted to the concept of forks.

18. FUD

An acronym for "Fear, Uncertainty, and Doubt Concerns, Uncertainty, and Suspicion."


19. Gas

Gas is the unit that performs trading on the Ethereum blockchain. It's like the cost you pay to the miners. The more Gas you set, the faster the transaction will be completed, because the higher the reward, the more miners will handle the task as early as possible.

20. Genesis Block Creation Block

Refers to the first block on the blockchain.


21. Hash hash hash

Investopedia explains best: Hash is a basic blockchain function that converts variable-length alphanumeric input to fixed-length encrypted output.

22. HODL

Originated from this "Hold" misspelled post. Today is the abbreviation of "Hold on for Dear Life", which means "storing cryptocurrency until the price rises to the sky" strategy.

23. ICO

Abbreviation for “Initial Coin Offering Initial Token Distribution”. ICO is a controversial crowdfunding approach because many projects end in fraud. In ICO, investors can exchange cryptocurrencies for a certain percentage of newly issued cryptocurrencies. When you get the token for free, don't confuse it with the airdrop.

24. IEO

Abbreviation for “Initial Exchange Offering”. IEO is an ICO (more legal, but still suspicious) hosted and managed by an encrypted exchange.


25. KYC

The acronym for "Know Your Customer Know Your Customer." A series of laws and regulations that require companies to understand the identity of their customers (requires ID card scanning or other identification documents).


26. Lambo

Refers to Lamborghini. When the price rises sharply, traders can buy such a great car.

27. Limit Order Limit Order

With the Limit Order, you can apply to the exchange to purchase X-digit tokens at the X price. When filling out an order, the price cannot be changed, the number of tokens can be changed, but the maximum number of orders cannot be exceeded.


28. Market Cap Market Value

The market cap refers to the total value of all tokens. It can be calculated using the total supply * current price. At the time of this writing, the market value of the cryptocurrency displayed on the CMC is $284,057,335,282. (Remember what CMC is?)

29. Maximum Supply Maximum Supply

The maximum amount of supply allowed for tokens or cryptocurrencies. Once the maximum supply is determined, no more tokens can be made.

30. Mining mining

First, new cryptocurrencies, such as BTC and LTC, can be issued through mining. Second, mining is the process of verifying a transaction and adding it to the blockchain ledger.

31. Mooning

When the price rises rapidly, the phrase “To The Moon” is used. This phrase is popular from the Dogecoin community.


32. Node node

A node is a computer or device that is connected to a cryptocurrency network. They all have a backup of all blockchain transactions, participating in the blockchain network activity by verifying transactions.


33. Peer-to-Peer (P2P) Network Peer-to-Peer Peer-to-Peer Network

This term is the cornerstone of the entire blockchain concept. A peer-to-peer network does not have a central point for storing information like a server. Instead, each participant in the blockchain network can access information and change the information in the network (but other participants will also know) without the dominant party controlling the network. Therefore, the possibility of dishonesty is ruled out. Every operation on the blockchain is transparent.

34. Phishing Phishing

Phishing is an old method of stealing vulnerable information that is still in use. Criminals let users hand over their personal information through a fake website or fake application.

35. Private Key/Private Address Private Key

This is the password for opening your wallet. Each encrypted wallet contains one or more private keys, which are theoretically associated with the wallet. You must protect your private key and not share it with anyone (especially via email). Therefore, be vigilant when someone asks you to provide a private key.

36. Proof-of-… proof

Proof of work, proof of entitlement, proof of entrusted equity, etc. are different systems, rules or methods for reaching consensus and verifying transactions in the same blockchain network. Here, we give an exhaustive list of existing blockchain consensus protocols.

37. Prospectus prospectus

ROKKEX CLO gives the best explanation: treat it as a company passport, which includes everything the investor needs to make an informed decision (investment or not).

The prospectus is a document required for STO (securities token issuance) to prove that the project is safe and subject to legal supervision.

38. Public Key/Public Address Public Key

The Public Key is your card number. For example, you can share the public key to receive the cryptocurrency. Interestingly, the public key is calculated by the private key.


39. Roadmap Roadmap

The roadmap shows the goal plan that the team wants to achieve in a year or more. It gives you insight into upcoming features and release time.

40. ROI

ROI is an abbreviation for “Return on Investment Return on Investment”. Refers to the rate of return on your investment.


41. Satoshi Nakamoto

Satoshi Nakamoto is the father of Bitcoin! and many more! It is the mother of Bitcoin! Nor is it! It is a group of geniuses! ! OK, in fact, we still don't know who Nakamoto is… But we can be sure that this person (perhaps a group of people) invented Bitcoin.

42. Scam fraud / scam

A scam (Scam) is a crime plan that is carried out in order to obtain money, personal information or any benefit. Some ICO projects are themselves a scam because they will withdraw money with the money after raising funds.

43. Scamcoin (Sh*tcoin) trash coins

Garbage coins are closely related to scams and ICOs: they exist to make money fast. Garbage coins are usually not functional, and many of the features described in the white paper are not implemented.

44. Seed Phrase mnemonic

Refers to the unsigned long sentence used to retrieve the private key and access the wallet.

45. Smart Contract

A smart contract is a computer program that controls the transmission of cryptocurrencies between parties under certain conditions.

46. Stable Coin Stabilizing Coin

Stable Coin is a very volatile currency that is linked to commodities such as fiat or gold.

47. Steemit

Steemit is a social media platform, primarily a blog that relies entirely on the Steem blockchain. Authors and active users who perform well on the platform will be rewarded.

48. STO

After the ICO brought a scam disaster, the cryptocurrency industry had to develop another way of crowdfunding – STO! STO (Security Token Offering) refers to the process of selling secure token digitally encrypted stocks based on blockchain technology in exchange for investment.

49. Cold/Hot Storage Cold/Hot Storage

There are two ways to store cryptocurrencies. Cold Storage is BTC offline storage (this is a wise choice when dealing with large amounts of cryptocurrency).

Hot Storage is networked. A few months ago, we introduced various types of hot and cold storage.


50. Ticker stock code

A stock code (Ticker) is a unique identifier for a particular cryptocurrency and is usually composed of 3-4 uppercase letters. For example, Bitcoin code BTC and Ethereum code ETH.

51. Token tokens

Tokens are built on top of existing blockchain platforms such as Ethereum, such as EOS, TRON and OmiseGO. Tokens are generally distributed to investors through ICO as an investment incentive. Don't confuse tokens with cryptocurrencies, which have their own blockchain.

52. Total Supply Total Distribution

Total Supply represents the sum of the number of tokens in circulation and the number of tokens that have not been circulated (reserved or not yet issued). Unlike the largest supply, the maximum supply includes the number of tokens to be dug in the future.

Therefore, the total amount of total supply = circulation supply + non-tradable supply. Maximum supply = total supply + total amount of tokens to be mined.

53. TX

TX stands for transaction – the way in which cryptocurrency is transferred.

54. Vitalik Buterin

Vitalik Buterin is a Russian programmer who co-founded Ethereum and invented smart contracts with others.


55. Wallet wallet

Wallet is similar to your bank account. You can send, receive and store cryptocurrencies. It is identified by a public key and accessed by a private key.

56. Whale Dazhuang

Whale is someone who has a lot of cryptocurrencies. They can control the price of the altcoin.

57. Whitepaper White Paper

Whitepaper A paper about a new product or company. It contains detailed information on all content: issues that the product will address, technical specifications, wiring diagrams, token distribution, teams, and more.


58. Zero Confirmation Transaction Zero Confirmation Transaction

A cryptocurrency transaction that has been delivered to a node but not yet merged into a block, also known as "unconfirmed transactions".

Source | hackernoon

Compile | Zhao Wei

Editor | Aholiab

Produced | Blockchain Base Camp