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
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Double Spending
With digital currency, there is a risk that the holder could make a copy of the digital token and send it to a merchant or another party while retaining the original.Other Important Terms
Address
A unique identifier serving as a virtual location where the cryptocurrency can be sent.Private Key
Private key – a unique alphanumeric string that allows cryptocurrency to be spent from user’s wallet. For example, E9873D79C6D87DC0FB6A5778633389 is a private key.Block Time
Block time – an amount of time it takes blockchain to create a new block. For example, average Bitcoin block time is 10 minutes.Fiat Currency
Fiat currency – currency that a government has declared to be legal tender, but it is not backed by a physical commodity. For example, US Dollar is a fiat currency.Hash Rate
Hash rate – also known as hash power, is a value that represents a number of times a hash function can be computed per second by a miner or the whole network. This value depends on 2 factors: The actual computing power of a miner; The network a miner works in. Difficulty of hash function can be different in different networks. For example, the hash rate of Nvidia GTX 1060 6GB, one of the most popular GPUs for mining, in Ethereum network is approximately 24 MHash/s. It means that this GPU is able to run hash algorithm approximately 24 million times per second.Cryptocurrency News
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