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