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Many readers have just entered the world of digital currencies; As soon as they open their favorite article, they are confronted with specialized terms and words in digital marketing. If you do not know their meaning, words will be difficult to understand. Reading an attractive article on currency codes is no longer enjoyable, and it takes a long time to find the meaning of each term.

So we decided in this article to deal with all the terms that you may come across in the texts of this field. Let us briefly explain. Prerequisite for reading specialized articles to provide you with the currency code and finally say welcome to the world of digital currencies!

Note: Each of the words is examined professionally and in more detail in the form of separate articles on the site. If you need more comprehensive information about them, click on the blue term to be directed to the desired page.

Address: Address or ADDY

A crypto address is a string of characters and represents the wallet with which you can send or receive your digital currency. Like the web and email addresses, this address is unique and indicates the wallet’s location in the blockchain.

Altcoin: Altcoin

Put, any coin that is not bitcoin Altcoin. From popular coins like Atrium to coins with the lowest market value.

Blockchain: Blockchain

Blockchain seems complex in general, yet its basic concept is very simple. It can be said that blockchain is a kind of database! A form of digital recording of records and reports. A network of consecutive blocks that make a change, hacking, or fraud difficult or impossible.

Decentralized Finance: Defi

It is an ecosystem for conducting financial activities without interference—from intermediaries such as banks, government, or other financial institutions.

Decentralized applications: DApps

Now that we have considered the concept of decentralized finance, it is easier to understand decentralized programs. Decentralized applications are programs created by developers and placed on a blockchain that performs intermediate actions.

Distributed General Office: DLT

Suppose that the information of a network is distributed between different systems instead of being stored on a single server. In this case, when a transaction occurs, its information is recorded in all member systems. Blockchain, for example, is a distributed general ledger or Distributed Ledger Technology.

Digital currency

It is a currency that is only available digitally and electronically. Digital currency can operate independently of the bank and be sent, received, and exchanged in the form of Fiat money. Online purchases can be made and stored in a digital wallet with this type of money.

Cryptocurrency

It is a collection of binary data and the digital currency used to exchange secure and secure data. Currency cryptocurrency is based on blockchain, and any regulator can not control everything in this network.

Gus: gas

You must pay a fee when you trade in the Ethereum blockchain or, in other words make a transaction. In the cryptocurrency world, this cost is called gas.

Initial supply of coins: ICO

Initial coin offering means selling a new digital currency before officially launching. This is to attract investment in the new token project and can be said to be similar to IPOs.

Extraction: mining

Confirmation of user transactions in the blockchain network, recorded in the distributed general office, is extraction. In other words, solving complex mathematical equations, which eventually leads to creating a new coin, is called miners, and the people who do it are called.

Non-replaceable tokens: NFT

Non-fungible tokens are unique and, therefore, irreplaceable digital assets traded in the form of unique works of art. True assets may be of the same sex (for example, two tokens in the form of a work of art) but have different values ​​and, like dollars, bitcoins, etc., have no fixed value. Therefore, they cannot be exchanged.

Private key

It would help if you had a string of numbers and letters to verify transactions on the network. So if your private key is leaked, you may lose your investment in seconds.

Public key: Public key

As the private key, the public key is a string of numbers and letters. But unlike the private key, this key can be made available to anyone. The public key in the world of cryptocurrencies is your wallet address, which can be accessed by others.

Block

Data such as sales and, ultimately, transactions are stored in blocks in the blockchain network. Each block can store a certain amount of information. A new block is created to continue the chain when it reaches the maximum.

Bitcoin

The first cryptocurrency was developed by Satoshi Nakamoto. Bitcoin is currently ranked as the best and most valuable cryptocurrency in the digital currency table.

Satoshi Nakamoto

The person or people who developed Bitcoin chose a nickname called Satoshi Nakamoto. This person communicates with users only through emails and forums related to Bitcoin and is anonymous.

Satoshi

The smallest bitcoin unit is named after its creator. Each Satoshi is 0.0000000001 bitcoins.

Recovery: Seed

This phrase, which is often associated with the word digital wallet, refers to the recovery of your wallet. Seed is a set of 12 to 24 random characters that allow you to retrieve your wallet. So these words are important and should be in a safe place. Se seed reaches you when you can not access your wallet from your system or mobile.

Separation: SEGWIT

Segregated means separation, and witness means witness. But in general, the term means to separate the digital signature from the transaction data. Segway allows more transactions to be placed in a block and speeds up the transaction.

Smart contracts

A program, or rather a code, is self-executing, applied if there are special conditions in the blockchain network.

Wallet

It would help if you had a digital wallet to hold digital currencies, which are strings of numbers. This wallet, which we refer to as currency wallets, is available in the form of hardware and software. In other words, wallets are used to hold your private and public keys.

Cold Wallet: Cold Storage

A cold wallet or offline wallet is not connected to the Internet. This type of wallet has higher security against hacking and vulnerability than a hot wallet. Paper wallets and hardware wallets are considered cold wallets.

Hot Wallet

Online wallets used in mobile applications or desktop wallets are hot wallets. These wallets are more vulnerable to cold wallets because they are online.

Bitcoin whale: bitcoin whale

Another term is a digital currency, which refers to individuals or entities that hold large amounts of bitcoins. Also, Whales have so many bitcoins that they can impact this market and cause its value to rise or fall.

Fiat

If you have a dollar or a euro in your purse, you have a Fiat currency. So Fiat is money backed only by the issuing government, and that’s it.

Bitcoin Cash: Bitcoin Cash

A digital currency that is a fork or a branch of Bitcoin was introduced in 2017 to increase the speed of transactions on the network. So the total number of coins, like Bitcoin, is 21 million units.

 Ethereum

Ethereum is a digital currency that has its network and platform. According to the volume of transactions, it is in the second place in the table of cryptocurrencies after Bitcoin, and its currency code name is Ether.

Exchange: Exchange

The term is more commonly used with Cryptocurrency exchanges and means digital currency exchange. So when you read the word exchange somewhere, know and be aware that it means online marketplace for buying and selling or converting currency codes to each other or Fiat money.

Coinbase Exchange

One of the most famous online exchanges of digital currencies, which was created to buy and sell cryptocurrencies and has more than 13 million users.

Fork

Fork means fork, and in the term digital currency market, a branch and an event. So this happens when users of a blockchain (not just Bitcoin) want to make changes to a platform. This is where new rules and infrastructures are separated from the previous path in the form of a new blockchain with a new name, like the bitcoin cache we say is a fork of bitcoin.

Soft fork

If the changes made to the network are minor and consistent with the previous protocol, then the so-called soft fork has occurred.

Hard fork: Hard fork

If the changes in the fork definition are so general that they change the infrastructure or network rules, and the previous nodes are unable to work with the new network, we say a hard fork has occurred.

Digital gold

Currency cryptocurrency market experts sometimes compare certain cryptocurrencies to gold. Today, bitcoin is commonly known as digital gold.

Genesis block: Genesis block

The name is assigned to the first block in the blockchain network. This block is sometimes referred to as block 0.

Rekt

The term is derived from the word wrecked and means a loss in digital currency transactions. Suppose you sold and lost with Bitcoin when its price was falling, then the price of Bitcoin increased spatially. This is where we say you rekt!

Digital Market capitalization

Market cap or market value is the total value of a digital currency calculated by multiplying the currency’s price by the number of coins in circulation.

Validation Algorithm: POA

According to the authentication algorithm, which stands for Proof of Authority, transactions are verified by nodes with the necessary credentials and history in the network used. Because this algorithm considers the consensus of a limited number of validators, it is highly scalable.

Proof of work algorithm: POW

The proof of work algorithm is the main consensus algorithm used in blockchain. So Satoshi Nakamoto introduced this algorithm to avoid double spending on the network.

Stock Proof Algorithm: POS

In the proof of stake presented to solve the problems of the proof of algorithm, Users can approve transactions based on the number of coins they have.

Staking: staking

Way users can make a profit by locking up part of their assets in their digital wallet and partnering with the network. Sticking is like depositing money in a bank.

Halving

For every four years that bitcoin is mined, the reward for extracting this digital currency is halved. This is called Halving. The last time Bitcoin bitcoin occurred was May 11, 2020, around 3 p.m.

Hash

A hash is a function that meets the encryption needs of computing in a blockchain network. A function gives you a unique string of numbers and letters (fixed length) as output for a single input.

Hashrate

The amount of computational power per second used during extraction is called alertness. High hash power machines are very efficient and can process a lot of data in one second.

BTFD

The term comes when the price of a digital currency is at a minimum and the best time to buy it. Buy more familiarity before it’s too late!

Hold: HODL

This word, which stands for hold on for dear life, means to hold. So the phrase tells you not to buy a new currency right now and not sell and keep the same currencies you have. The term only applies to the world of digital currencies.

Node

Any network that connects to the blockchain is called a node. The more nodes there are, the more scalable the network will be.

Peer to peer

P2P is a technology based on the principle of decentralization. So the peer-to-peer architecture in the blockchain network allows digital currencies to be transferred without intermediaries and a central server.

Stable coin: Stable coin

Digital currencies, because of the support they have, try to keep their prices constant even during fluctuations. Some of these backers could be Fiat money coming to help control the price of stable coins.

Vitalic buterin

No one will ever ask you who is second in a competition. But this story is different in digital currencies. Vitalik Buterin is also the founder and creator of Ethereum, who was involved in writing Bitcoin-related articles before creating this digital currency.

Pump and dump

Pump and dump in currency cryptography is a kind of scam. Scammers first create fake ads to get users interested. When investors start buying that digital currency, the price goes up dramatically, and a pump happens. After that, behind-the-scenes scammers sell all their purchased currency when the currency’s value reaches a certain price.

Asic

Special integrated circuits, or ASICs, are electronic circuits designed solely to extract bitcoin and some digital currencies. Also if we want to define this term as more specialized, we will have a special integrated circuit designed to compute only one function or a set of related functions.

Candle: candle

Kendall, which in the original translation means candle, is a chart that defines a digital currency’s high, low, opening, and closing prices over a specific period.

Noob Trap in digital marketing

Noob is a term used for newcomers to the cryptocurrency world. Next to this word is another term called Noob Trap, which means noob trap. Newcomers to the digital currency market may fall into hearing false news.

ROI

Another acronym that you may encounter in crypto texts is ROI. Abbreviated ROI is the term Return on Investment and is a measure used by digital currency traders for the performance of investing in the digital currency market.

Extraction Pool: Mining Pool

You and many other digital currency enthusiasts may not have the powerful hardware to extract the currency of your choice. So this is where it comes in handy. Mining Pools are virtual locations for sharing mining devices to solve complex equations. Mining pools increase people’s chances of getting a currency code.

Programmable money

Programmable money is digital money that can be programmed to operate according to pre-defined criteria. The first programmable currency was Bitcoin, which is very popular today.

Faucet

The word means to tap in English, but in digital currencies, it refers to sites where you can monetize currency in exchange for simple activities such as clicking. Of course, it is better to be careful because most of these sites are created for fraudulent purposes.

FOMO

Fear Of Missing Out is one of the most commonly used terms in the crypto market. Also, this word means that he engages in exciting work for fear of losing his property. As users in crypto trading still make emotional decisions, FOMO.

White paper: White paper

Each new digital currency has a White paper on its blog or site or in the gateway. In this white paper, the information about this currency code, the purpose of its creation, and its technologies are explained in detail.

Mooning: To the moon

If you read somewhere that a digital currency is moving toward the moon, its price and value are rising rapidly and has an upward trend. This term is mostly used to persuade users to buy a currency code