Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

Quick Links

Tools

Long Position

Long position – a state the trader is in when he buys cryptocurrency asset expecting that its price will rise. For example, if a trader bought Bitcoin 2 months ago and still hasn’t sold, he/she is in a long position.

Other Important Terms

Miner

Miner – has two definitions. A node which carries out the mining process. A person who owns the working hardware for mining.

Hash Algorithm

Hash algorithm – an algorithm that transforms the information about transaction into hash. It is a one-way function, meaning that the information about transaction cannot be obtained from hash alone. For example, SHA-256 utilized by Bitcoin is a hash algorithm.

Futures Trading

Futures trading refers to a method of speculating on the price of assets, including cryptocurrencies, without actually owning them. Like commodity or stock futures, cryptocurrency futures enable traders to bet on a digital currency’s future price.

Market Cap

Market cap – short for Market capitalization. A total value of all the units of a certain cryptocurrency combined. Changes proportionally to a single unit price change. Can be calculated using this formula: Market cap = Total supply * Price of a unit For example, if a supply of hypothetical cryptocurrency is 100 coins and each coin costs 25 USD, then the market cap is 100 * 25 = 2500 USD.

Altcoin

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

Cryptocurrency News

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer