Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Cryptocurrency Exchange

Cryptocurrency exchange – a platform that allows its users to trade cryptocurrencies for other cryptocurrency or any other asset. Can be either centralized or decentralized. For example, Binance is a cryptocurrency exchange.

Other Important Terms

FOMO

FOMO – short for Fear Of Missing Out. Describes the anxiety a trader feels when it seems he did not buy in before the increase in price or did not sell before the fall. If the increase/fall is still happening while the trader is experiencing FOMO, it can force him to make an irrational decision. For example, those who bought Bitcoin at 19 000+ USD during the late 2017 bull run were experiencing FOMO.

DeFi

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

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.

P2P

P2P – short for Peer-To–Peer. A network where all the peers are connected to each other, each peer sharing files with the other. Peers are nodes.

Stablecoin

Stablecoin – a type of cryptocurrencies designed to have the lowest volatility possible. For example, Tether (USDT) is a stablecoin.

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