Topic: Terms in the world of cryptocurrency. (Read 209 times)

Everything is simple, affordable, understandable for a beginner. Thanks author

Nice thread and it has look like a dictionary already. I can always go back on this thread seeing some terms that I might actually apply in posting. This is one of the helpful threads I have been reading so far in this forum. I had so much about statistics and merited post but could not even understand what all those statistics for all about. It was highly technical and only them are quite had some understanding when it comes to the data they were presented though I bet that those post are very helpful for the forum and for future references.

As to users with limited knowledge on technical aspects here in the forum. This one presented is one thing I need to learn in this forum. Thank anyway for this. I will be having a lot of fun reading this later on. For sure, I can now understand some terms that are being used in this forum instead of searching them in the google.

Thanks, I will remember these terms, but for beginners, this seems to be much less than the terms in the stock. I have never bought stocks before, I feel very difficult because there are too many terms in the stock. I am a real newbie.
If I insist on learning, I think I will soon integrate crypto world.

Thank you! This helps out a lot  I hope other newcomers will see this thread as well.

You mean crypto lingo?

Cryptocurrency Lingo/Slang

It's useful for beginners everyone interested in cryotocurrency to study about the subject of their interest.
This is a discussion forum, where people bring relevant topics to the cryotocurrency world for the community to deliberate over. And not information that can be easily gotten through a simple search.

Agreeably most relevant topics has been brought to already, so feel free to jump into any discussion and contribute or have relevant topics if you are going to start a discussion.

I think it will be useful for beginners to study this information.
I would like to explain newcomers what altcoin is in more detail.

1. What is meant by altcoin?

At its core, altcoin can take the form of a new project, which is expressed through the digital currency, and can be used as an open source system to create new initiatives that pursue explicit goals.

Useful facts: the most successful and promising altcoin project is Ethereum, the second most important and recognizable altcoin was Litecoin.

2. How is a new altcoin born?

Most of the new altcoins are created as forks of old coins, or there is a cloning of the old project, but under a new shell or interpretation.
The project can be divided into two or more parts, taking into account the views of the community on emerging differences. A number of altcoins are created as an initial coin offering through ICO. Some projects are looking for sources of financing, study the capacity of the current market.

WhitePaper cointains all the information about the project, it describes all the conditions of a public offering of ICO in detail. Every investor can study the structure of the WhitePaper by accessing the open resource. At the same time, although the information is public, no one is safe from fraud. So be careful, friends!

3. What is the price of altcoins?

The level of evaluation of the real value of bitcoin and other altcoins have similar parameters with the stock market. Here, too, investors invest, risk, lose and win. But if the stock markets are somehow tied to products, raw materials, etc., the price of altcoin mostly depends on innovative solutions. That is, innovation itself is the engine of the rate of each altcoin.

Remember: innovation should be supported by a good team that knows all the subtleties of the crypto-sphere and digital technologies. The slightest loss of time for innovation can lead to the project`s failure, the gain in time – on the contrary, to success.

I hope I helped you understand what altcoin is.

I must applaud your help and work but your terms are quite superficial and most are known already you did not go extensively but not to worry the forum has a search icon a the top right corner you can just use it. There is a post that can be useful to you and others as well

https://bitcointalksearch.org/topic/terminology-126798

Well there are lots of terminologies and concepts associated with bitcoin. And this post does give a basic idea of some of them
This is available information that can be easily obtained and users should research to grow their knowledge on cryotocurrency and how it works.


It would be helpful to point out the difference between tokens and coins.
Tokens are cryotocurrencies which are built on another cryotocurrency which serves as the platform.
ERC-20 tokens for example are ethereum based tokens.
Coins have their own platform with their own algorithm

I think it will be useful for beginners to understand a few terms and abbreviations in the cryptocurrency very often used in conversations. Most of us do not even understand what we are talking about, but it turns out to be very simple. Know that can be all of this dig up in Internet with more detailed descriptions, but all same think to place this here.
1. Altcoin - is the common name of any cryptocurrency except bitcoin.
2. Attack 51% — a state of the network when one person or a group of people controlled by more than 51% of the network capacity of a particular cryptocurrency.  This gives this person power over this network and the ability to control it
3. A block is a verified transaction that is added to the blockchain as a result of mining.
4. Blockchain is a distributed Ledger consisting of a chain of financial transaction blocks, where each subsequent block is linked to the previous one.
5. Keys are a formed string of characters (a bit string) that is used for encryption and decryption.
6. Cryptocurrency - a system of secure exchange and transfer of digital currency, using cryptography.
7. Mining process in the network of any cryptocurrency, as a result of which a new block of transactions is added to the blockchain.
8. A node is any computer connected to a blockchain network. A node, depending on its type, stores only part or all of the blockchain data.
9. Cloud mining-web services that sell cryptocurrency mining power. The equipment is located on the seller's site and is serviced by his forces.
10. A pool or mining pool is a group of miners who collectively mine the block and then divide the reward into all of them.
11. Token is a digital asset. It is issued to attract investment in a cryptocurrency project or company.
12. Fork is the creation of a new and more successful version of the block chain of a certain cryptocurrency.
13. Cold storage or offline storage-storage of cryptocurrency without Internet access.
14. Digital signature (EDS)— a code that generates an encryption algorithm with a public key. Used to confirm the transaction by the wallet owner.