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Cryptocurrency and Blockchain Dictionary

A complete list of crypto definitions

Cryptocurrency and blockchain glossary

Commonly used terms in the world of blockchain and cryptocurrency

Terms commonly used in the world of blockchain and cryptocurrency

Node

Node – a device that is connected to the P2P network. Each node has a copy of all the previous transactions and supports the network by validating and relaying transactions.

Other Important Terms

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.

Address

A unique identifier serving as a virtual location where the cryptocurrency can be sent.

Anti-Money Laundering

AML is the abbreviation for ‘anti-money laundering’. AML stands for policy and legislation on money laundering. This prevents illegally acquired funds from being converted into a legal variant. Within the crypto world, it is no longer unusual for AML techniques to be used by exchanges and wallets. This term is often used as AML/KYC, where KYC stands for 'Know your customer'.

Altcoin

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

Metaverse

Metaverse is a digital world. It is a virtual reality and digital representation of the real world, where users can interact, play games and experience things or activities as they would in the real world. In the metaverse, cryptocurrencies serves as means of conducting transactions.

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