Cryptocurrency and Blockchain Dictionary

Terms commonly used in the world of blockchain and cryptocurrency

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Atomic swap

Atomic swap - A smart contract technology that allows to exchange one cryptocurrency for another without using centralized intermediaries. The technology is being used by the DEXes.

Bitcoin

Bitcoin is a digital or virtual cryptocurrency created in 2009 that uses peer-to-peer technology to facilitate instant payments.

Short for Bitcoin Exchange-Traded Fund. A financial asset that is tied to Bitcoin price, allowing its holder to benefit from Bitcoin price fluctuations without having to store and trade Bitcoin itself.

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.

Block

Block – a file containing the information about the most recent transactions which have not been recorded in the previous blocks. All the blocks mined are recorded in the blockchain.

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.

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.

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