KYC

Glossery of Terms

Altcoin any cryptocurrency other than Bitcoin.

ASIC is a term used for an ‘Application-Specific Integrated Circuit'. An ASIC

is a powerful computing device used for mining cryptocurrency.

Bitcoin also known as BTC.

Buy the Dip is an investing strategy which involves buying an asset when its price has fallen with the view that it will trade higher in the future.

Blockchain is a distributed digital ledger of transactions captured in blocks and storage permanently which cannot be altered. It is the underlying technology that is used by nearly all cryptocurrencies.

Blockchain explorer is a tool for viewing, searching and navigating the information stored in a blockchain database.

Coin is a cryptocurrency which is the native token for a networl ot blockchain project which maintains it's ecosystem.

Cold Wallet is a physical storage device most commonly known as a ledger which is used to store cryptocurrency offline. It provides additional security to you cryptocurrency holdings.

CPU Mining is a computer's central processing unit (CPU) that miners use to validate transaction on a blockchain. The blockchians native token is received as a reward when a block has been produced.

Cryptocurrency is a digital currency or asset that is used as a store of value or a medium of exchange for the network or platform which it’s build on.

Cryptography is a method of keeping information secret and secure by scrambling it into indecipherable codes. The information can only be decrypted and read with the necessary key.

dApp is a term for a ‘Decentralized Application’. A dApp is an application where there is no third party required to use it's services.

Dead Coin is a project that has been abandoned or used as a scam. There is no further development activity on the network and the tokens is noramlly delisted form centralised exchanges and/or there has been under $1000 trade activity for the last three months.

DeFi is a term for ‘Decentralized Finance’. It's known as the decentralised version of traditiona finance. DeFi does not require any third party involvement as users can send and receive assets directly.

DAO is a term for ‘Decentralized Autonomous Organization’. A DAO is a group of people who work together toward a shared goal and abide by rules written into the project’s self-executing computer code.

Distributed Ledger is an organization such as a bank which holds, records, shares and synchronizes on an electronic ledger of its customer’s transactions. A blockchain is a type of distributed ledger.

Double spend is when you spend an amount and that amount is no longer owned by user, therefore you are unable to spend it a second time. Cryptocurrencies could be copied and repeatedly spent, however blockchains prevents and solves this problem.

Doxxed Team is a founder or teams information that has been leaked or made public on the internet, and it's related to that project.

Exchange is a website or application that allows users to buy and sell cryptocurrency assets.

Ethereum is also a term ETH. It’s the native cryptocurrency for the Etheruem network.

Encryption is the process of making digital information into a form that prevents unauthorized access and hacks.

Fiat currency is the traditional term for currencies back by the Countries government. The U.S. dollar is a fiat currency.

Fork is a change to the blockchain’s governing protocols, it can result in another token being issued if there is a dispute with the upgrade. There are two main forks, the first is a soft fork, which involves a change in the software protocol, but it’s backwards-compatible and the other is a hard fork, which is a significant upgrade.

Gas is a transaction fee in ETH on the Ethereum network. This fee is referred to as gas.

GPU Mining uses advanced graphics processing units (GPUs), commonly known as graphics cards. These provide mining power to mine the network.

Hash Rate is the result of a piece of data being put through a special hashing algorithm. It compresses data into a nearly unique alphanumeric string of text. This is important in cryptocurrency because a blockchain is an immutable record of transactions, and hashing can uncover attempts to illegitimately alter or change data.

Hot Wallet is an online storage wallet for cryptocurrencies, provided either by an exchange or a third party.

IDO is a term for ‘Initial DEX Offering’. It offers retails investors the opportunity to invest in a new crypto project on a decentralised exchange prior to it's listing.

ICO is a term for ‘Initial Coin Offering’. It offers retails investors the opportunity to invest in a new crypto project prior to it's listing either through a website or application.

IEO is a term for ‘Initial Exchange Offering’. It offers retails investors the opportunity to invest in a new crypto project on a centralised exchange prior to it's listing.

KYC is a term for 'Know Your Customer'. It requires users to provide sufficient identification when registering on a platform or exchanges under the KYC and AML rules.

Ledger is a record of transactions maintained by both centralized financial institutions and decentralized finance applications which logs times, dates, senders and recipients.

Liquidity is the rate you can excute a trade, swap a token to other tokens.

Market Capitalization is also known as market cap. The market cap is the total market value of a cryptocurrency. It's the price ‘X’ by the project's token supply.

Market Depth is the depth of the liquidity of an order book, the value of all the buyers and sellers.

Mining is verifying transactions via a proof of work consensus mechanism on the blockchain. Miners are rewarded by receiving tokens from the native protocols it’s validating.

Meme Coin is an altcoin based on a meme in the form of an image repeatedly altered and shared online, Dogecoin is an example of a meme coin.

Node a computer or device connected to other computers or devices that all hold a copy of a blockchain. Each node supports the broader network by sharing information and validating transactions.

NFT is a term for 'Non-Fungible Token' which is a digital collectible item that uses the same underlying technology as cryptocurrencies.

On-Chain is a transaction that occurs on a blockchain, reflected on the distributed, public ledger.

Orphan Block is a block that has been solved but not accepted by the network and isn’t added to the blockchain.

OTC is a term for 'Over the Counter' which is the trade of an asset via a broker, peer to peer or a decentralised person which is not a centralised or decentralised exchange.

P2P is a term for ‘Peer-to-Peer' as it refers to a transaction between two users without a third party authority.

Private Key is also known as a secret key, which is an encrypted password to a user’s crypto wallet or holdings. A private key is only known by the user/s. A private key is paired with a public key.

Public Key is a public address to the user’s crypto wallet. It’s the address that is provided to receive funds into your account, or transfer to another account. It can be shared publically. A public key is paired with a private key.

Proof of Work is also known as 'PoW', which is a consensus mechanism to validate transactions on a blockchain. The transactions are validated by miners utilising computational work.

Proof of Stake is also known as 'PoS', which is a consensus mechanism to validate transactions that requires users to lockup or stake a specified amount of cryptocurrencies to earn a rewards. This validates blocks on the blockchain.

Quantum Computing is a computer science field that uses principles of quantum physics to process much larger data sets at much greater speeds than traditional computing methods.

Road Map is a visual time frame for the vison and product release dates indicated by the team for the project.

Real Yield refers to protocols that incentivize token ownership and liquidity mining by sharing profits generated from fees.

Regulated is a market which customers must follow certain rules or risk fines and/or the loss of their operating licenses controlled by a governing body.

Rekt is also known as “wrecked,” and it refers to in crypto context being significently down or losing on an investment.

Satoshi Nakamoto is the pseudonym for whoever created Bitcoin and it’s whitepaper.

Satoshi refers to each unit of Bitcoin (BTC) whch makes up a whole BTC. 1 Satoshi is 0.00000001 BTC.

Seed Address is a random series of 12 to 24 words generated by your crypto wallet which is used to gain access. The same seed will not be regenerated. If you lose your seed address you will not be able to access your wallet.

Slippage is the difference between the indicated price of an order and the price when the order executes.

Smart Contract is a program that executes itself on a blockchain when certain conditions are met, without the need for human intervention or an intermediary. Once completed, the contract cannot be changed or undone.

Stablecoin is a cryptocurrency that aims to maintain a fixed, unchanging market value pegged to a fait currency, commodity or financial instrument.

Tether is known as 'USDT' which is a stablecoin that is pegged 1-to-1 with the U.S. dollar.

Terahash is the rate at which a computer or network can guess one trillion hashes per second when mining for cryptocurrency.

Token is a cryptocurrency created by a platform or application on top on an existing blockchian.

Total Value Locked also known as 'TVL' which is the value amount of any type of crypto locked up in a smart contract, either in a liquidity pool for lending, staked or in a blockchain node for mining crypto.

USD Coin is known as 'USDC' which is a stablecoin that is pegged 1-to-1 with the U.S. dollar.

Volume is the total amount of currency being traded in the open market at any given moment in a 24 hour period.

Validator is someone who pays for the chance to validate transactions and earn crypto on a proof of stake blockchain.

Volatility is when market conditions result is significant price fluctuations and unpredictably rise and fall.

Wallet is a digital storage device or location for the user’s crypto assets to keep them secure.

Whitepaper is the technical document released attached to a new crypto project that explains the core technical features, operating system, team details, road map and tokenomics.

Yield is an ongoing return on investment, expressed as a percentage.

Zero Confirmation is a transaction that has yet to be confirmed on the blockchain, and therefore, isn’t part of the blockchain yet.

Zombie Coin is a token that has not traded for the most recent month, however it does not mean the project is dead.