Getting started with blockchain | Do you know the 50 blockchain terms? (on)

Many small partners who have just come into contact with the blockchain industry may find that there are often many technical terms in the media reports in the industry, many of which are still used directly in English. The blockchain is a relatively new and relatively new thing. It is not easy to understand. So many terms and even English words will directly cause many newcomers to collapse and discourage.

As a vertical media focusing on the introduction of blockchain science, it is also a low-gate entry for new users of blockchain. Today, the vernacular blockchain helps you sort out 50 commonly used blockchain vocabulary . Easy to understand the English terminology in the blockchain.

1, Airdrop (airdrop)

I am very happy to start with such a pleasant thing as "airdropping". One day you wake up and see some unknown tokens in your wallet – this is an airdrop! Airdrop is the free gift of the token to the project party. This marketing method was very popular in 2017, as airdrops prompted people to learn more about the currency.

2, Altcoin (competition currency)

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Altcoin is the abbreviation of Alternative Coin, which refers to other cryptocurrencies other than Bitcoin. Because bitcoin has many flaws, there are many projects that want to improve bitcoin, such as Litecoin (LTC) . The tokens of these items are called Altcoin, which is the bitcoin's competitive currency.

3, AMA (ask me anything can be)

AMA is the abbreviation of Ask Me Anything. It generally refers to the question and answer activities held by members of the company or individuals. Users, readers and viewers can ask any related questions. Common AMA forms are live video and live text.

4, AML (anti-money laundering)

AML (Anti-Money Laundering) represents anti-money laundering policies and related laws and regulations, which can prevent illegally obtained money from being disguised and legalized.

5, Bearish (bear market)

The bear, an animal, when it attacks, it uses its claws against the prey to "nail" the prey to the ground. Now suppose that the cryptocurrency market is a bear market, market participants are bearish and prices will fall.

6, Blockchain (blockchain)

Blockchain is a synthesis of the underlying technology abstractions of many chains.

7, Bounty Program (Bounty Program)

The bounty plan is a task assigned by the project party, such as joining a telegraph group, translation, etc. Anyone can participate in these tasks and receive some rewards after completing the task.

8, Bullish (bull market)

In contrast to bears, bulls are animals that use horns to lift prey from the ground to the air. In a bull market, prices will rise, just as the bulls lift their prey into the air.

9, Candlestick Chart (candle chart)

A "candle chart" is a way to show a deal. A candle represents a specific time period (month/week/day/hour/minute, etc.), the "main body" of the candle represents the opening price and the closing price, and the peak indicates the highest and lowest price of the period.

10.Circulating Supply (total circulation)

Represents the total number of tokens that are freely traded on the market for a blockchain project.

11, CMC (a cryptocurrency website)

CMC is the abbreviation of CoinMarketCap, a website that provides market, market value and other data.

12, Cryptocurrency Exchange (virtual currency trading platform)

A trading platform where you can buy and sell cryptocurrencies, similar to trading platforms that buy and sell stocks.

13, ERC-20 (an agreement of the Ethereum network)

You will often see ERC-20 tokens, which are created on the Ethereum network through smart contracts, and ERC-20 is a standard protocol for tokens.

14, Ether (ETH, ether)

Ether (ETH) is the main cryptocurrency of the Ethereum network and is the “fuel” on the Ethereum blockchain because it helps to execute smart contracts.

15, Fiat (French)

Fiat does not refer to Fiat (a car manufacturer), Fiat Money (legal currency) is the officially declared currency of the legal currency, such as the US dollar, the euro.

16, FOMO (missing phobia)

FOMO is an acronym for Fear of Missing Out, especially for people who are afraid of missing. For example, the recent bitcoin price has exceeded $10,000, and many people will be afraid of missing the next bitcoin to continue to rise. This fear of missing is called FOMO.

17, Fork (forking)

Bifurcation is to split the blockchain into another version, which can be divided into soft forks and hard forks.

18, FUD (backward old man)

FUD is an abbreviation for “Fear, Uncertainty and Doubt”, which is used to describe those who follow the old and look down on virtual currency.

18. Gas (miner fee)

Gas (miner fee) is used to execute trades on the Ethereum blockchain, which is a bit like the cost you pay to miners. The more Gas (mineer fee) you set, the faster the deal will be, because the higher the return, the more miners will be motivated to process your trade earlier. Click to read " Ethernet transfer fee and arrival speed, smartly set up Gas can save money " to understand the Gas setting skills.

19. Genesis Block (Genesis Block)

The first block to be "digging" is the first block in a blockchain.

20, Hash (Hash)

A hash is a basic blockchain function that combines letters and numbers into a fixed-length encrypted output.

21, HODL (Buddha holding currency)

From a post that misses "hold", it is now an abbreviation for "Hold on for Dear Life."

22, 1C0 (Ai Xiou, the first token release)

The initial acronym for Initial Coin Offering, also known as the first token sale. 1C0 is a controversial form of financing because many projects are scams (discussed below). In 1C0, investors use mainstream currency to participate in financing to obtain tokens for the project.

22, 1E0 (issued on the first trading platform)

Initial acronym for Initial Exchange Offering. 1E0 is also a 1C0, but it is held by the cryptocurrency trading platform, which is more compliant. After the financing is completed, the related tokens will be online trading platform.

23, KYC (real name certification)

KYC is an acronym for Know Your Customer, a series of laws and regulations that require companies to understand the identity of their customers (requires identity scans or other identification documents). Click to read " Anonymous blockchain, why do you want to do KYC authentication " to learn more.

24, Lambo (Lamborghini)

Lamborghini means that when the price of virtual currency rises, participants can buy such a luxury car.

25, Limit Order (limit order)

Using a limit order means that you make a request to the trading platform to purchase a specific amount of encrypted assets at a specific price.

Regarding the remaining 25 common blockchain terms, we will offer them in the next issue, so stay tuned.

What blockchain terms do you often see? Welcome to leave a message in the message area.

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Author | ROKKEX Listen to the wind (compile)

Produced|Baihua blockchain (ID: hellobtc)

『Declaration : This article was compiled from HACKERNOON. This series of content is only for the introduction of blockchain science and does not constitute any investment advice or suggestion. If there are any errors or omissions, please leave a message. 』

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