Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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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.

Other Important Terms

Physical Cryptocurrency Wallet

Physical cryptocurrency wallet – a physical object containing user’s private keys. There are several types of physical wallets: Hardware wallet is a device that has user’s private keys saved to its memory. In order to access them, user has to connect such a wallet to a device that is connected to the Internet, such as PC or smartphone, and enter a pin code. For example, Ledger Nano X is a hardware wallet; Paper wallet is a copy or printout of user’s public and private keys.

Pump And Dump

Pump and Dump – a fraudulent scheme. Involves artificially increasing the price of a certain cryptocurrency just to sell it before the "bubble" bursts. Is accountable for sudden spikes in cryptocurrency price charts.

DeFi

'Decentralized Finance' or 'DeFi' - generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum blockchain.

Bitcoin Halving

Bitcoin halvening – also known as Bitcoin halving. A 50% reduction in rewards for Bitcoin miners. Happens approximately every four years or exactly once in 210 000 blocks. The next halvening will happen in 2024, when bitcoin block count reach 840,000. Bitcoin miners currently receive 6.25 BTC for each successfully mined block. After the next halvening in 2024, the block reward will be reduced to 3.125 BTC.

Roadmap

Roadmap – a future plan of a cryptocurrency project with events and their respective deadlines. Usually published in marketing materials.

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