Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Altcoin

Altcoin - Any cryptocurrency that is not Bitcoin. For example: ethereum, litecoin, XRP, are all altcoins.

Other Important Terms

Trade volume – the total value of all the cryptocurrency exchanged on a specific platform in a specific time period. For example, trade volume of Binance exchange on April 25, 2019 was approximately 892 000 000 USD.

Liquidation

Liquidation – the automatical placement of sell order for the market price.

NFT

Non-fungible tokens which are also referred to as NFTs; are blockchain-based tokens that each represent a unique asset like a piece of art, digital content, or media. An NFT can be thought of as an irrevocable digital certificate of ownership and authenticity for a given asset, whether digital or physical. NFT is a record on a blockchain which is associated with a particular digital or physical asset. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded.

Block Header

Block header – a unique alphanumeric string used to identify a particular block on an entire blockchain. It is necessary for miners to be able to carry out PoW. For example, 0100000095 00c43a25c6 24520b5100 adf82cb9f9 da72fd2447 a496bc600b 0000000000 006cd86237 0395dedf1d a2841ccda0 fc489e3039 de5f1ccdde f0e834991a 65600ea6c8 cb4db3936a 1ae3143991 is a block header.

Atomic swap

Atomic swap - A smart contract technology that allows to exchange one cryptocurrency for another without using centralized intermediaries. The technology is being used by the DEXes.

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