Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Trade Volume

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.

Other Important Terms

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.

Block Explorer

A block explorer is an online service to track blockchain transactions. It usually is a website where you can see all the new blocks that are being created. You can also search for transactions and wallet addresses. The best-known block explorers are blockchain.info for Bitcoin and etherscan.io for Ethereum.

Mining Pool

Mining pool – a group of miners who combine their system resources, allowing them to generate a higher hash rate than it would be possible for any of them to generate individually. Higher hash rate = greater chance of mining a whole block. Mining reward gets split between mining pool members. Note: not every PoW cryptocurrency has mining pools. Some PoW cryptocurrencies accept transactions one by one, not by combining them into blocks, thus eliminating the point of having mining pools.

Margin Trading

Margin trading in crypto involves borrowing funds from an exchange and using it to make a trade. Margin trading is a way of using funds provided by a third party to conduct asset trading. Compared with regular trading accounts, margin trading accounts allow traders to obtain more funds and support them in using positions.

ROI

'Return on Investment', or ROI for short, is a ratio or percentage value that reflects the profitability or efficiency of a certain trade or investment.

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