Topic: 🔥🔥🔥Blockchain entry series / 1：50 Blockchain Terms🔥🔥🔥 (Read 300 times)

Internet users don’t have sole control over the data they share on today’s websites.

Ethereum is unique in that it attempts to wield the blockchain as a way to correct what its designers believe is a problematic part of the internet’s design.

It’s like a “decentralized appstore” where anyone can publish their unstoppable apps (dapps), which unlike today’s apps (think Gmail or Uber) don’t require a middleman to function or to manage a user’s information.

Dapps connect users and providers directly.

One example is to use this design for a decentralized Twitter that’s resistant to censorship. Once you publish a message to the blockchain, it can’t be erased, not even by the company that created the microblogging system.

There isn’t one definition of a dapp, though, as it’s a newer concept.

A couple of main characteristics are that they’re open source and don’t have a central point of failure.

Three types

With this new technology out in the wild, ethereum advocates might feel electrified by the thought of decentralizing “all the things.” But the types of applications that users can build with the computing platform might be somewhat narrow.

The ethereum white paper splits dapps into three types: apps that manage money, apps where money is involved (but also requires another piece), and apps in the “other” category, which includes voting and governance systems.

In the first type of app, a user may need to exchange ether as a way to settle a contract with another user, using the network’s distributed computer nodes as a way to facilitate the distribution of this data.
https://static.coindesk.com/wp-content/uploads/2017/03/Screen-Shot-2017-03-28-at-5.29.48-PM-393x419.png


The second type of app mixes money with information from outside the blockchain.

For example, a crop insurance application that’s dependent on an outside weather feed. (Say a farmer buys a derivative that automatically pays out if there’s a drought that impacts his work.)

To execute, these smart contracts rely on so-called “oracles” that relay up-to-date information about the outside world. (Though, it’s worth noting that some developers are skeptical that this use case can be done in a decentralized way.)
https://static.coindesk.com/wp-content/uploads/2017/03/Screen-Shot-2017-03-28-at-5.31.39-PM-384x419.png


If bitcoin can do away with financial authorities, is it possible to do the same for companies and other types of organizations?

Decentralized autonomous organizations are one particularly ambitious breed of dapp (this is explained further in ‘What is a DAO?‘).

The goal is form a leaderless company, program rules at the beginning about how members can vote and how to release company funds and then… let it go.
https://static.coindesk.com/wp-content/uploads/2017/03/Screen-Shot-2017-03-28-at-5.33.07-PM-419x401.png


Authored by Alyssa Hertig; images by Maria Kuznetsov
Original link：https://www.coindesk.com/information/what-is-a-decentralized-application-dapp

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Before you can understand ethereum, it helps to first understand the internet.

Today, our personal data, passwords and financial information are all largely stored on other people’s computers – in clouds and servers owned by companies like Amazon, Facebook or Google. Even this CoinDesk article is stored on a server controlled by a company that charges to hold this data should it be called upon.

This setup has a number of conveniences, as these companies deploy teams of specialists to help store and secure this data, and remove the costs that come with hosting and uptime.

But with this convenience, there is also vulnerability. As we’ve learned, a hacker or a government can gain unwelcome access to your files without your knowledge, by influencing or attacking a third-party service – meaning they can steal, leak or change important information.

Brian Behlendorf, creator of the Apache Web Server, has gone so far as to label this centralized design the “original sin” of the Internet. Some like Behlendorf argue the Internet was always meant to be decentralized, and a splintered movement has sprung up around using new tools, including blockchain technology, to help achieve this goal.

Ethereum is one of the newest technologies to join this movement.

While bitcoin aims to disrupt PayPal and online banking, ethereum has the goal of using a blockchain to replace internet third parties — those that store data, transfer mortgages and keep track of complex financial instruments.

The ‘World Computer’

In short, ethereum wants to be a ‘World Computer’ that would decentralize – and some would argue, democratize – the existing client-server model.

With ethereum, servers and clouds are replaced by thousands of so-called “nodes” run by volunteers from across the globe (thus forming a “world computer”).

The vision is that ethereum would enable this same functionality to people anywhere around the world, enabling them to compete to offer services on top of this infrastructure.

Scrolling through a typical app store, for example, you’ll see a variety of colorful squares representing everything from banking to fitness to messaging apps. These apps rely on the company (or another third-party service) to store your credit card information, purchasing history and other personal data – somewhere, generally in servers controlled by third-parties.

Your choice of apps is of course also governed by third parties, as Apple and Google maintain and curate (or in some cases, censor) the specific apps you’re able to download.

Take the example of an online document service like Evernote or Google Docs.

Ethereum, if all goes according to plan, would return control of the data in these types of services to its owner and the creative rights to its author.

The idea is that one entity will no longer have control over your notes and that no one could suddenly ban the app itself, temporarily taking all of your notebooks offline. Only the user can make changes, not any other entity.

In theory, it combines the control that people had over their information in the past with the easy-to-access information that we’re used to in the digital age. Each time you save edits, or add or delete notes, every node on the network makes the change.

https://static.coindesk.com/wp-content/uploads/2017/03/Screen-Shot-2017-03-28-at-4.56.00-PM.png

It’s worth noting that the idea has been met with skepticism.

Although the apps appear to be possible, it’s unclear which blockchain applications will actually prove useful, secure, or scalable, and if they will ever be as convenient to use as the apps we use today.

Authored by Alyssa Hertig; Images by Maria Kuznetsov
Original link：https://www.coindesk.com/information/what-is-ethereum

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What is unknown is of equal or more importance as compared to what is known. Money is one such subject. Future is often built on the bricks and blocks of the past. Hence it is a worthwhile exercise to understand the existing money in its myriad forms and all consuming complex glory. On completion of which one can safely understand what cryptocurrency is, which is housed carefully in another page as a part of Newsbtc.com’s ongoing initiative to educate the readers about money, digital currencies and the future of money as it unfolds.

What is Money?

The same question can be asked in multiple ways — what is digital currency? What is digital money? What is the future of money? And a few other combination of words. It is relatively easier to explain cryptocurrency in technical terms. The wikipedia page on Cryptocurrency would be the right candidate to refer to ‘understand’ cryptocurrency. However to help the readers ‘comprehend’ cryptocurrency, we have drafted this page on Newsbtc.

In the beginning there was barter system and then came the money. Money is a term that could be used to explain any object from the past to the present, the value of which is what the humans who use the money bestow upon it. Money is simply any material that carries a mutually agreed promise of value. In a prison with no paper currencies, cigarettes are a form of currency. In our day to day world, money exists in various forms ranging from papers, bonds, legal documents, precious metals, plastic cards, digital numbers and so on. Money works as long as the using parties mutually and collectively agree upon the value of it.

Who approves what money is?

Anything that is widely accepted as a form of payment usually qualifies as money. But the cigarettes in the prison or the sea shells don’t really qualify as money simply because the government won’t accept these forms of currency as a mode to collect taxes. It is when the tax can be paid with a particular form of money, that it becomes formalized and normalized system of payment. Sorry sea shells!

Hence essentially there are only a few forms of formal money. Cash, banknotes and coins, central bank reserves, commercial bank monies are the ones that we need to know of.

The traditional currency known to mankind for the last few millennia has been the physical and tangible forms of money. Money in the past had assumed various shapes and forms, ranging from calcareous shells that were nothing more than the exoskeletons of the molluskan family, to plastic cards with magnetic stripes on them. Progressing further money is now in digital form stored as numbers in databases, often centralized and encrypted, safeguarded by the banks that manage the money.

In the wake of late 2008 and early 2009, a new form of currency has come into the economic picture of the world. These are popularly termed cryptocurrencies. Cryptocurrency are digital currencies too, however the important distinction rests in the fact that unlike centralized money that is managed by the banks on behalf of the governments and the people, cryptocurrencies are encrypted store of value that abides by the mathematical laws of their design and creation, which is controlled by the people themselves. Long technical story short — Cryptocurrencies are digital currencies that are created by the people and consumed by the people, in a decentralized manner, meaning it is governed not by the governments or the banks, but by the mathematical constructs. The value of cryptocurrencies are not fixed by any institution or authority figure. The value is fixed (or changed) by the supply, demand, frequency of usage and scale of adoption.

Understanding Money

Before we delve deeper into talking about the technical aspects of the cryptocurrency, it helps to take a step back in time and walk the path that today’s money has travelled along the human civilization’s course.

Fungibility

Another important property that has been associated with money since its inception is the ‘fungibility’. Fungibility is a fancy word for interchangeability. Fungibility is a property of a good or commodity that makes it freely exchangeable or replaceable, in whole or in part, for another of its nature or kind. To explain it even simpler, a dollar is fungible enough to be converted into a coffee. This is the basis on which money has existed for centuries.

Inflation and deflation

Anything with value has power associated with it. And power is fluid — it is either increasing in value or it is decreasing. Power is never static. Similarly the value of any money is never static — it is either increasing in value or decreasing in value. The rate at which the inflation (decreasing value) and deflation (increasing value) happen might vary. This is the stability of money. The stability of any money is only as stable as the humans that use the money and the ways in which they put the money to use.

Tangibility

Tangibility is another property of money that is important. As with anything that is of great importance and value, it is only natural to expect the material that money is made of, to be holdable/tangible, storable and divisible to smaller units. Gold has managed to maintain its glory as a store of value owing to some of its properties, namely, limited & finite supply, universal acceptance and adoption, long life span as a store of value, appeals to human senses and a few other factors.

Where the traditional money goes wrong?

We could talk about the traditional money’s traditional pitfalls and legacy weaknesses — geography bound, proportional to the strength of the government’s ability to run the nation, the value being fixed by a central authority and such. However that would dilute the point. It is rather helpful to talk about cases and situations where the traditional money is failing to serve it’s intended purposes.

An argument for or against the cryptocurrency and traditional money respectively can be better understood by thinking along these lines.

Where money starts?

It is hard to control anything that hasn’t been completely understood. Unsurprisingly not many economists, bankers or the policymakers completely understand or agree upon a single starting point for money. Every bit of money mostly starts as a loan. A credit is where every single unit of money is born. Money is created by the banks under the government’s authority to extend or create credit, either by buying existing assets or through making loans.

What is Fiat Money?

To understand it better we have to get into the etymology of the word ‘Fiat’ — which in latin means “let it be done” or “it shall be”. Hence a fiat currency is anything that the government declares “let there be value, by law and regulation”. Intrinsically fiat money has no value. Imagine you are the richest person from country X. Country X has the currency CXD. When the government of country X falls, so does CXD.

Money as Paper, Plastics and Electrons

Cash is made of paper, which is made of cellulose beaten out of wooden pulp or cotton. Or it is made of plastics with magnetic strips, often molded in the shape of a business card.

Plastic money is soon replacing paper money. Plastic money has it’s advantages. A second look at how money is created by governments and banks, the point of plastic money (credit cards included) become blatantly evident. The transactions that are done with plastic money are often stored in centralized databases of the issuing banks and visible to the governments. This is a great advantage, as accountability and traceability helps to know what is being done with the money and what are the uses the money is being put to. We as a modern civilization have approached a point where 90% of the world’s currency exists only in numbers in databases and the rest is floating around as nimble paper pieces. Economists have recently predicted that only 8% of the world’s currency exist in physical cash form. The rest is all electrons floating in the ether.

Commodity Money

Commodity money is made of those materials that have intrinsic value for themselves by their property of being amenable to certain uses. Some examples are gold, silver, copper, tea, salt etc. Tobacco and alcohol are commodity monies too. The problem occurs when there is a ban on these substances. Nevertheless, commodity money has been and is a good candidate as a store of value, so far.

Representative Money

Representative monies are those that have a face value that is greater than their real value. In this sense, fiat money often qualifies as a representative money. Dollar bills are good examples for this type of money. They represent a promissory value backed by the promise of the fiscal stability and economic constructs of the issuing nation.

Hard Currency

Hard currency is a term that is endowed upon those currencies that are stable and act as a globally traded currency as a store of value. These currencies are backed by fiscal stability of the issuing government. Most countries want their currencies to get into this league, for the prestigious stature.

Conclusion

Money is what money does. It is a store of value, a medium of exchange, a form of power, solidification of energy… we could add definitions like this. For a comprehensive understanding, post-comprehension of this article, there is an investopedia page that takes this discussion deeper thorough the history to the present. Important thing to note is that the money has evolved across history, along the path of human civilization’s progression and regression. On a conclusory note, cryptocurrencies are not a progressive evolution of what money represents. Cryptocurrencies are a disruptive innovation that rethinks the way money works. More importantly it rethinks the way world works around money. This is an area of interest for further unbiased (cognitive, technocratic and bureaucratic) exploration by the policy makers, economists and governments around the world.

Original link：https://www.newsbtc.com/what-is-money/

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When you hear about bitcoin “mining,” you envisage coins being dug out of the ground. But bitcoin isn’t physical, so why do we call it mining?

Because it’s similar to gold mining in that the bitcoins exist in the protocol’s design (just as the gold exists underground), but they haven’t been brought out into the light yet (just as the gold hasn’t yet been dug up). The bitcoin protocol stipulates that 21 million bitcoins will exist at some point. What “miners” do is bring them out into the light, a few at a time.

They get to do this as a reward for creating blocks of validated transactions and including them in the blockchain.



Nodes

Backtracking a bit, let’s talk about “nodes.” A node is a powerful computer that runs the bitcoin software and helps to keep bitcoin running by participating in the relay of information. Anyone can run a node, you just download the bitcoin software (free) and leave a certain port open (the drawback is that it consumes energy and storage space – the network at time of writing takes up about 145GB). Nodes spread bitcoin transactions around the network. One node will send information to a few nodes that it knows, who will relay the information to nodes that they know, etc. That way it ends up getting around the whole network pretty quickly.

Some nodes are mining nodes (usually referred to as “miners”). These group outstanding transactions into blocks and add them to the blockchain. How do they do this? By solving a complex mathematical puzzle that is part of the bitcoin program, and including the answer in the block. The puzzle that needs solving is to find a number that, when combined with the data in the block and passed through a hash function, produces a result that is within a certain range. This is much harder than it sounds.

(For trivia lovers, this number is called a “nonce”, which is a concatenation of “number used once.” In the case of bitcoin, the nonce is an integer between 0 and 4,294,967,296.)

Solving the puzzle

How do they find this number? By guessing at random. The hash function makes it impossible to predict what the output will be. So, miners guess the mystery number and apply the hash function to the combination of that guessed number and the data in the block. The resulting hash has to start with a pre-established number of zeroes. There’s no way of knowing which number will work, because two consecutive integers will give wildly varying results. What’s more, there may be several nonces that produce the desired result, or there may be none (in which case the miners keep trying, but with a different block configuration).

The first miner to get a resulting hash within the desired range announces its victory to the rest of the network. All the other miners immediately stop work on that block and start trying to figure out the mystery number for the next one. As a reward for its work, the victorious miner gets some new bitcoin.



Economics

At the time of writing, the reward is 12.5 bitcoins, which at time of writing is worth almost $200,000.

Although it’s not nearly as cushy a deal as it sounds. There are a lot of mining nodes competing for that reward, and it is a question of luck and computing power (the more guessing calculations you can perform, the luckier you are).

Also, the costs of being a mining node are considerable, not only because of the powerful hardware needed (if you have a faster processor than your competitors, you have a better chance of finding the correct number before they do), but also because of the large amounts of electricity that running these processors consumes.

And, the number of bitcoins awarded as a reward for solving the puzzle will decrease. It’s 12.5 now, but it halves every four years or so (the next one is expected in 2020-21). The value of bitcoin relative to cost of electricity and hardware could go up over the next few years to partially compensate this reduction, but it’s not certain.

Difficulty

The difficulty of the calculation (the required number of zeroes at the beginning of the hash string) is adjusted frequently, so that it takes on average about 10 minutes to process a block.

Why 10 minutes? That is the amount of time that the bitcoin developers think is necessary for a steady and diminishing flow of new coins until the maximum number of 21 million is reached (expected some time in 2140).

If you’ve made it this far, then congratulations! There is still so much more to explain about the system, but at least now you have an idea of the broad outline of the genius of the programming and the concept. For the first time we have a system that allows for convenient digital transfers in a decentralized, trust-free and tamper-proof way. The repercussions could be huge.

 
Authored by Noelle Acheson. Bitcoin and bitcoin mining images via Shutterstock.
Original link：https://www.coindesk.com/information/how-bitcoin-mining-works

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To cut through some of the confusion surrounding bitcoin, we need to separate it into two components. On the one hand, you have bitcoin-the-token, a snippet of code that represents ownership of a digital concept – sort of like a virtual IOU. On the other hand, you have bitcoin-the-protocol, a distributed network that maintains a ledger of balances of bitcoin-the-token. Both are referred to as “bitcoin.”

The system enables payments to be sent between users without passing through a central authority, such as a bank or payment gateway. It is created and held electronically. Bitcoins aren’t printed, like dollars or euros – they’re produced by computers all around the world, using free software.

It was the first example of what we today call cryptocurrencies, a growing asset class that shares some characteristics of traditional currencies, with verification based on cryptography.

Who created it?
A pseudonymous software developer going by the name of Satoshi Nakamoto proposed bitcoin in 2008, as an electronic payment system based on mathematical proof. The idea was to produce a means of exchange, independent of any central authority, that could be transferred electronically in a secure, verifiable and immutable way.
To this day, no-one knows who Satoshi Nakamoto really is.

In what ways is it different from traditional currencies?
Bitcoin can be used to pay for things electronically, if both parties are willing. In that sense, it’s like conventional dollars, euros, or yen, which are also traded digitally.
But it differs from fiat digital currencies in several important ways:

1 – Decentralization
Bitcoin’s most important characteristic is that it is decentralized. No single institution controls the bitcoin network. It is maintained by a group of volunteer coders, and run by an open network of dedicated computers spread around the world. This attracts individuals and groups that are uncomfortable with the control that banks or government institutions have over their money.
Bitcoin solves the “double spending problem” of electronic currencies (in which digital assets can easily be copied and re-used) through an ingenious combination of cryptography and economic incentives. In electronic fiat currencies, this function is fulfilled by banks, which gives them control over the traditional system. With bitcoin, the integrity of the transactions is maintained by a distributed and open network, owned by no-one.

2 – Limited supply
Fiat currencies (dollars, euros, yen, etc.) have an unlimited supply – central banks can issue as many as they want, and can attempt to manipulate a currency’s value relative to others. Holders of the currency (and especially citizens with little alternative) bear the cost.
With bitcoin, on the other hand, the supply is tightly controlled by the underlying algorithm. A small number of new bitcoins trickle out every hour, and will continue to do so at a diminishing rate until a maximum of 21 million has been reached. This makes bitcoin more attractive as an asset – in theory, if demand grows and the supply remains the same, the value will increase.

3 – Pseudonymity
While senders of traditional electronic payments are usually identified (for verification purposes, and to comply with anti-money laundering and other legislation), users of bitcoin in theory operate in semi-anonymity. Since there is no central “validator,” users do not need to identify themselves when sending bitcoin to another user. When a transaction request is submitted, the protocol checks all previous transactions to confirm that the sender has the necessary bitcoin as well as the authority to send them. The system does not need to know his or her identity.
In practice, each user is identified by the address of his or her wallet. Transactions can, with some effort, be tracked this way. Also, law enforcement has developed methods to identify users if necessary.
Furthermore, most exchanges are required by law to perform identity checks on their customers before they are allowed to buy or sell bitcoin, facilitating another way that bitcoin usage can be tracked. Since the network is transparent, the progress of a particular transaction is visible to all.
This makes bitcoin not an ideal currency for criminals, terrorists or money-launderers.

4 – Immutability
Bitcoin transactions cannot be reversed, unlike electronic fiat transactions.
This is because there is no central “adjudicator” that can say “ok, return the money.” If a transaction is recorded on the network, and if more than an hour has passed, it is impossible to modify.
While this may disquiet some, it does mean that any transaction on the bitcoin network cannot be tampered with.

5 – Divisibility
The smallest unit of a bitcoin is called a satoshi. It is one hundred millionth of a bitcoin (0.00000001) – at today’s prices, about one hundredth of a cent. This could conceivably enable microtransactions that traditional electronic money cannot.
—
Read more to find out how bitcoin transactions are processed and how bitcoins are mined, what it can be used for, as well as how you can buy, sell and store your bitcoin. We also explain a few alternatives to bitcoin, as well as how its underlying technology – the blockchain – works.
 
Authored by Noelle Acheson. Network image via Shutterstock.
Original link：https://www.coindesk.com/information/what-is-bitcoin
 
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There are two types of TRX resources: bandwidth and energy.

Bandwidth Point: Extending any blockchain network may result in delays in transaction confirmation, as is the case in Ethereum and Bitcoin networks. To ensure a smooth network operation, the TRON network grants a free pool of bandwidth points per account for every 24 hours for free transactions every 24 hours.To participate in the transaction more frequently, you need to freeze the TRX to get extra bandwidth points, or pay for it with TRX. Transactions are transferred and stored in the network as a byte array. The bandwidth consumed in a transaction is equivalent to the size of its byte array. If the length of the byte array is 200, the transaction consumes 200 bandwidth points.
 
Energy: The creation and operation of smart contracts consumes CPU resources. Smart contracts take time to run in a virtual machine (VM), and the time spent in the system is measured in microseconds. CPU resources are consumed in the form of energy, which means 1 Energy = 1 microsecond. If the contract takes 100 microseconds to execute in the VM, then 100 Energy is consumed. The total amount of CPU resources provided by the TRON network within 24 hours is 50,000,000,000 energy.

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More details please refer to https://support.dalong.com/hc/en-us/articles/360029926172-What-is-a-TRX-resource-

Blockchain candy: The blockchain project party aims to attract more users to join the early use and dissemination, rewarding tokens to early users, thus realizing the huge benefits brought by the network effect.

Reward form: Present the token issued by the official project.

Reward mechanism: You register an account, I send you coins, you invite friends to use, I will send you more coins.

Hidden dangers: A lot of scam coins, pyramid money, are also inviting friends to send coins, the more you send more, the more routines, but most of the projects require you to invest some money first.

What is airdrop? Airdrop refers to the process by which the project party delivers candy to your digital currency wallet. So, you need to get candy, you need to have a digital wallet.

Blockchain airdrops: Like candy, airdrops are also designed to attract more users to focus on their projects and realize the huge benefits of network effects. The airdrop project will select a point in time, and the snapshot records the distribution of the assets of a token at that time, and gives the token to the potential users proportionally.

But compared to candy, there are two differences between airdrops:
1. Airdrops are not for all potential users, but for a subset of potential users.
2. The number of tokens given is not constant, but is determined by the proportion of each user.

The number of tokens awarded to each person by airdrop is not the same. So if you have more coins, you will get more airdrop rewards.
 
Reward form: Give your own issued token to other project holders.
Reward mechanism: You have other coins, I send you my coins, the more you have, the more I send you.
Hidden danger: basically no. Because airdrops don't require you to pick up manually, or provide any personal information, when you drop the air, it will automatically appear in your exchange's wallet.

If the content of the article is incorrect or there is other knowledge you want to know, you can leave a message in the reply area.

More details please refer to https://dalong.com/

Thanks to the readers for correcting, a part of the change was made with reference to your comments.

You really should review and try out the link that acts as a reference to the origin of the post’s content. The link should point to https://support.dalong.com/hc/en-us/articles/360030405511-50-Blockchain-Terms. The current link in the OP points to a (the) wallet’s home page (with errors in the URL), which does not technically apply as a direct reference to the text in the OP.

why not put these two together?

what "deal"? that type of chart is showing OHLC and "price movements"

unfortunately this is not realistic. most coins/tokens "circulating supply" is the total supply they have which may not even be in circulation or not be freely traded on the market. for example coins with 100% premine only have a small portion of it in circulation and the rest is used to only fake increase their market capitalization and give them a high rank.

this is false. fork does not automatically mean "split" because "split" means having more than 1 chain after the fork which is not the case. so fork in blockchain technology better be defined as an "upgrade" instead.
now if that upgrade is done with high consensus there will be no splits but if it is done only by minority's support there will be a split.

put these all together!

"hash" is a cryptography function! and it doesn't "combine" anything. in a way it "compresses" "data" into a fixed length output using a one way function.

market cap (specially for altcoins) has nothing to do with "value" of them. it simply is multiplication of total supply in existence (not circulation) with price which is why it is fake in most cases as i explained about circulating supply above.

wrong.
it indicates the maximum allowed number of coins a cryptocurrency can eventually have.

wrong.
mining does not verify transactions, verification is a process done by nodes.
mining is the process of finding a hash that satisfies a specific condition and finding it requires doing "work".

wrong!!!
private key is NOT "password" to your wallet! in asymmetric cryptography private key is simply the private pair of the public/private key pair that you need to generate in order to create the public key (encoded into an address) to give to others.
there is no such thing as "private address" either.

S stands for "stake".

public key is not "wallet address"! the address is created by hashing the public key with a 1 way hash function and then encoding it to a human readable format.

1,Airdrop
Airdrop is the free gift of the token to the project party.
 
2,Altcoin
Altcoin is an abbreviation for Alternative Coin and refers to other cryptocurrencies other than Bitcoin.
 
3, AMA (ask me anything can be)
AMA is the abbreviation of Ask Me Anything. It refers to the question and answer activities held by members of the company or individuals. Users, readers and viewers can ask any related questions. Common AMA forms include live video and live text.
 
4, AML (anti-money laundering)
AML (Anti-Money Laundering) represents anti-money laundering policies and related laws and regulations, which can prevent illegally obtained money from being disguised and legalized.
 
5, Bearish (bear market)
The bear, an animal, when it attacks, it uses its claws against the prey to "nail" the prey to the ground. Now suppose that the cryptocurrency market is a bear market, market participants are bearish and prices will fall.

6, Bullish (bull market)
In contrast to bears, bulls are animals that use horns to lift prey from the ground to the air. In a bull market, prices will rise, just as the bulls lift their prey into the air.

7, Blockchain
Blockchain is a synthesis of the underlying technology abstractions of many chains.
 
8, Bounty Program
The bounty plan is a task assigned by the project party, such as joining a telegraph group, translation, etc. Anyone can participate in these tasks and receive some rewards after completing the task.
 
9, Candlestick Chart
A "candle chart" is a way to show a deal. A candle represents a specific time period (month/week/day/hour/minute, etc.), the "main body" of the candle represents the opening price and the closing price, and the peak indicates the highest and lowest price of the period.
 
10.Circulating Supply (total circulation)
Represents the total number of tokens that are freely traded on the market for a blockchain project.
unfortunately this is not realistic. most coins/tokens "circulating supply" is the total supply they have which may not even be in circulation or not be freely traded on the market. for example coins with 100% premine only have a small portion of it in circulation and the rest is used to only fake increase their market capitalization and give them a high rank.

11, CMC (a cryptocurrency website)
CMC is an abbreviation of CoinMarketCap, a website that provides market, market capitalization and other data.
 
12, Cryptocurrency Exchange (virtual currency trading platform)
A trading platform where you can buy and sell cryptocurrencies, similar to trading platforms that buy and sell stocks.
 
13, ERC-20 (an agreement of the Ethereum network)
You will often see ERC-20 tokens, which are created on the Ethereum network through smart contracts, and ERC-20 is a standard protocol for tokens.
 
14, Ether
Ether (ETH) is the main cryptocurrency of the Ethereum network and is the “fuel” on the Ethereum blockchain because it helps to execute smart contracts.
 
15. Gas (miner fee)
Gas (miner fee) is used to execute trades on the Ethereum blockchain, which is a bit like the cost you pay to miners. The more Gas you set, the faster the deal will be, because the higher the return, the more miners will be motivated to process your trade earlier.

16. ICO (first coin issue)
ICO：The initial acronym for Initial Coin Offering, also known as the first token sale. 1C0 is a controversial form of financing because many projects are scams (discussed below). In 1C0, investors use mainstream currency to participate in financing to obtain tokens for the project.
 
17.IEO (first trading platform issued)
Initial acronym for Initial Exchange Offering. 1E0 is also a kind of 1C0, which is only held by the cryptocurrency trading platform, which is more compliant. After the financing is completed, the related tokens will be online trading platform.

18, Smart Contract
A smart contract is a computer program that controls cryptographic currency transfers between parties under certain conditions.

19, Fiat
Fiat does not refer to Fiat (a car manufacturer), Fiat Money (legal currency) is the officially declared currency of the legal currency, such as the US dollar, the euro.
 
20, FOMO (missing phobia)
FOMO is an acronym for Fear of Missing Out, especially for people who are afraid of missing. For example, the recent bitcoin price has exceeded $10,000, and many people will be afraid of missing the next bitcoin to continue to rise. This fear of missing is called FOMO.
 
21, Fork
Simply put, the fork is a system upgrade, just like the iOS system of Apple's mobile phone needs to be constantly updated and upgraded. The fork can be divided into "soft fork" and "hard fork".
 
Soft forks are just upgrades to the network. The nodes before the upgrade are well compatible with the upgraded nodes and do not generate a new digital currency.
 
Hard forks are not the case. After a hard fork occurs, the nodes before the upgrade cannot be compatible with the upgraded nodes. The original blockchain will be divided into several independent chains, which may generate new digital currency.
The person who originally held the coin, after hard forks, theoretically has every coin after the fork.
 
22. Genesis Block
The first block to be "digging" is the first block in a blockchain.
 
23, Hash
A hash is a basic blockchain function that combines letters and numbers into a fixed-length encrypted output.
 
24, HODL (Buddha holding currency)
From a post that misses "hold", it is now an abbreviation for "Hold on for Dear Life."
 
25, KYC (real name certification)
KYC is an acronym for Know Your Customer, a series of laws and regulations that require companies to understand the identity of their customers (requires identity scans or other identification documents).
 
26, Limit Order
Using a limit order means that you make a request to the trading platform to purchase a specific amount of encrypted assets at a specific price.
 
27, Market Cap
The market value indicates the total value of the cryptocurrency and can be queried on websites such as CMC (CoinMarketCap).
 
28, Maximum Supply
It indicates the maximum allowed number of coins a cryptocurrency can eventually have. If the maximum supply is determined, the total amount will not change.
 
29, Node
A node is a computer in a network that has a copy of a blockchain transaction and supports the transaction by verifying the transaction.
 
30, Mining
First, some new cryptocurrencies are released by mining (eg BTC, LTC). Second, mining is the process of verifying transactions and adding them to a public ledger (blockchain).
 
31, To Da Moon
The phrase "To Da Moon" means that prices are rising at an extremely fast rate. It is generally believed that the Dogecoin community has made this phrase popular.
 
32. Peer-to-Peer Network
This term is the cornerstone of the entire blockchain concept. Peer-to-peer networks do not have a central point like a server to store information—instead, each participant in the blockchain network can access information and change information (but other participants will know) without the dominant party controlling the network.
 
33. Phishing
Phishing is an old but still in use method of stealing vulnerable information. Criminals attempt to collect personal information from users through a fake website or application that mimics someone else's original website or application.
 
34, Private Key
This is the password for opening your wallet. Each cryptocurrency wallet contains one or more private keys that are mathematically related to the wallet. Your private address must be secure and not shared with anyone (especially via email), so be vigilant when someone wants your private key.
 
35, Proof-of-(xx proof)
Proof of Work (PoW), Proof of Stake (PoS), Proof of Entitlement (DPoS), etc., refer to the rules or methods for reaching consensus and verifying transactions in a blockchain network.
 
36, Prospectus
“We see it as a company passport, and it may be necessary for investors to make an informed decision about all possible information and let investors decide whether to invest.” The prospectus is a document required for securities token issuance (STO). To prove that a project is safe and regulated by law.
 
37, Public Key
The public key is derived by the private key, which is the wallet address after the public key is converted.
public key is not "wallet address"! the address is created by hashing the public key with a 1 way hash function and then encoding it to a human readable format.

 
38, Roadmap
The roadmap is a display of goals and plans that the team wants to achieve in a year or more. It lets you know about upcoming features and when they will be released.
 
39. ROI (return on investment)
ROI is the abbreviation of Return on Investment, which is the rate at which you get a return on your investment.
 
40. Satoshi Nakamoto
Nakamoto is the founder of Bitcoin, but as for who is Nakamoto, it is still inconclusive, because Nakamoto is still completely hidden in the powerful Internet of human flesh search. Some people speculate that Nakamoto may be a person, and some people speculate that it is a team or an organization.
 
41, Scam
Fraud is a criminal plan committed by criminals to obtain money, personal information or other benefits. The blockchain is an emerging industry. Because of the lack of regulatory measures, various fraudulent projects are emerging, and everyone needs to be cautious.
 
42, Scamcoin/Shitcoin (Air Coin)
Air currency refers to the token issued by a project that has no value and is specifically designed to swindle money.
 
43. Seed Phrase (mnemonic)
You can restore your wallet with mnemonics and regain ownership of your wallet.
 

44, Stable Coin
Stabilizing coins are a very volatile currency that attempts to be anchored with bulk commodities such as fiat currencies and gold. In the cryptocurrency market, the most stable currency currently in the market is USDT.
 
45. STO (Securitization Certificate issuance)
STO (Securitization issuance) is a process of selling a regulated cryptocurrency for financing.
 
46, Cold / Hot Storage
According to whether the storage of the cryptocurrency is connected to the Internet, it can be divided into cold storage and hot storage. Cold storage refers to storage without networking, and is suitable for large-value cryptocurrency storage; hot storage is connected to the Internet and is suitable for small, frequently used cryptocurrency.
 
47, Token
Token refers to a token issued based on other public chains, such as the ERC-20 Token issued based on the Ethereum blockchain.
 
48, Wallet
A wallet is like your bank account. You can send, receive and store cryptocurrencies, which you need to open with a private key.
 
49, Whale
Giant whales refer specifically to those who hold large amounts of cryptocurrencies, and their every move will have an impact on market prices.
 
50, Whitepaper
A white paper is a document about a new product or company that contains all the details: problems that the product will solve, technical specifications, roadmaps, token distribution, team conditions, and more. Bitcoin's white paper is "Bitcoin: A Peer-to-Peer Electronic Cash System"

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