Crypto Words | Dictionary

Cryptocurrency & Blockchain Dictionary | Basics | Part 6

By CryptoCata | crypto-general | 16 Feb 2021


Here we are at Part 6 of this series - you can find at the end of the article at the Resources section links to all the other parts. I hope you enjoy reading new crypto words and you find out something new today.

1. 51% ATTACK = more then half of the computational power for the mining process in a blockchain is run by a single person or organization, this means that they have the majority;

2. BFA = BRUTE FORCE ATTACK = it's an attack method that tries to crack the password; it's an automated process that tries different generate passwords in order to find the correct one; that's why is not safe to have as password words from dictionary, because these are the most common passwords that can be cracked;

3. DUSTING ATTACK = this attack tries to find out the person identity behind a wallet address; basically this attack works by sending tiny amounts of coins to wallets and after that you track the transactions activity;

4. DOLPHIN = person who have moderate amount of cryptocurrencies;

5. FLIPPENING = it's something like a situation where the market cap of Ethereum surpasses market cap of Bitcoin;

6. HOSTED WALLET = it's a wallet that's managed by a third party;

7. METAMASK = digital wallet for Ethereum that can run as a browser extension and can integrate with different DEX (Decentralized Exchanges); you can take a look at Metamask here.

8. PROTOCOL = all the rules involved in a network such as transaction validation, communication between nodes;  

9. SHILLING = enthusiastic act to promote cryptocurrency projects;

10. TLT = THINK LONG TERM = type of investment when someone wants to keep the cryptocurrencies for a long period of time, no matter the price fluctuation;

11. TRADE VOLUME = the amount of money traded in the last 24 hours;

12. VAPORWARE = cryptocurrency project that is not implemented either because it is still a concept or it's cancelled;

13. DAY TRADING = buying and selling crypto on a daily basis in order to make some profits; an example of a platform where you can day trade cryptocurrencies with some low fees (0.1% per trade) is Binance, you can can create an account here.

14. LEVERAGE = money borrowed by someone in order to gain some big profits, this can be dangerous when market doesn't go in the direction you thought; it can cause big loses of money;

15. MOON = big announcements for a cryptocurrency blockchain project that increase the price, demand and adoption;

 

Hope you have learned something new today. Please take into consideration to read also Part 1Part 2Part 3, Part 4 and Part 5 (links down below in the Resources section) where you can find other interesting crypto words.

Let me know in the comments what words were new to you, if any.


Thanks for reading and have a nice day,
CryptoCata

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CryptoCata
CryptoCata

Newly to crypto and very enthusiast to find out more!


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crypto-general

General information about blockchain and cryptocurrencies. Let's learn together more about them.

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