KNOWLEDGE is AFFLUENCE
EduCrypto Club Words to Know
Necessary words and definitions to understand blockchain and cryptocurrencies.
Address
Destination identifier for a cryptocurrency transaction.
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Airdrop
Cryptocurrency distribution to holders.
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Altcoin
Cryptocurrency other than Bitcoin.
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Bitcoin
The first decentralized cryptocurrency.
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Blockchain
Distributed, immutable ledger.
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DAO
Decentralized Autonomous Organization, a digitally native organization.
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DEX
Decentralized exchange for peer-to-peer trading.
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DeFi
Decentralized financial services on the blockchain.
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Ethereum
Decentralized blockchain mainly used for smart contracts.
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Fork
Split in blockchain protocol.
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FUD
Fear, Uncertainty, Doubt influencing crypto perception.
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Gas
Transaction fee on Ethereum network.
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HODL
Holding cryptocurrency for the long term.
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Hash
Unique output from input data.
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ICO
Initial Coin Offering, crypto's IPO.
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Layer 2
Framework built atop existing blockchain.
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Mining
Process of validating blockchain transactions.
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NFT
Token representing unique content ownership.
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Node
Computer part of blockchain network.
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Private Key
Key to access personal cryptocurrency wallet.
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Proof of Stake
Consensus algorithm based on wealth/age of staked coins.
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Proof of Work
Consensus algorithm requiring work.
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Public Key
Key shared to receive cryptocurrency.
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Sharding
Process to hasten blockchain transactions.
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Smart Contract
Self-executing contract coded into a blockchain.
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Stablecoin
Cryptocurrency with value pegged to a reserve asset.
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Token
Representation of certain asset/utility.
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Wallet
Digital location for storing cryptocurrency.
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