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Cryptocurrency and Blockchain Dictionary

A complete list of crypto definitions

Cryptocurrency and blockchain glossary

Commonly used terms in the world of blockchain and cryptocurrency

Terms commonly used in the world of blockchain and cryptocurrency

Hash

Hash – a unique alphanumeric string produced by the hash algorithm. For example, 47a83dfbba d320acff42 e5400b2b7d 654acb0a44 1dd982b2f9 34454a730f 8b28 is a SHA-256 hash.

Other Important Terms

Long Position

Long position – a state the trader is in when he buys cryptocurrency asset expecting that its price will rise. For example, if a trader bought Bitcoin 2 months ago and still hasn’t sold, he/she is in a long position.

Trading Pair

Trading pair – a trade between one type of cryptocurrency and another. Allows trader to purchase one of these two currencies with the another one. For example, BTC/ETH is a trading pair. It allows the trader can buy Bitcoin with his/her Ether or Ether with his/her Bitcoin.

FOMO

FOMO – short for Fear Of Missing Out. Describes the anxiety a trader feels when it seems he did not buy in before the increase in price or did not sell before the fall. If the increase/fall is still happening while the trader is experiencing FOMO, it can force him to make an irrational decision. For example, those who bought Bitcoin at 19 000+ USD during the late 2017 bull run were experiencing FOMO.

PoS

Proof-of-stake (PoS) protocols are a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof-of-work schemes. PoS blockchains include Ethereum, Polkadot, Avalanche, and Cardano

Atomic swap

Atomic swap - A smart contract technology that allows to exchange one cryptocurrency for another without using centralized intermediaries. The technology is being used by the DEXes.

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