Basic Cryptocurrency Definitions (Part 4)
Published in
2 min readJun 2, 2024
- API: The set of rules that allow different applications to communicate/interact with one another.
- Atomic Swap: A type of crypto swap where an exchange is made directly between two parties without the involvement of any third-party.
- Audit: An audit determines the validity, security, and transparency of a blockchain network, typically used to enhance consumer trust in certain blockchains.
- Cryptography: A method for keeping information secure and secret by converting it into indecipherable codes.
- Encryption: The process of encrypting or converting information into a form which prevents unauthorized access
- ICO: Initial Coin Offering, where investors are given the opportunity to support a new crypto project
- KYC: Know Your Customer, identity checks carried out by the exchanges on customers
- Orphan block/Stale Block: A block that has been solved yet not accepted by the blockchain
- P2P: Peer-to-Peer, refers to transactions that are made directly from between two people.
- Satoshi: The smallest unit of Bitcoin, 100 million satoshis to one bitcoin
- Terahash: The rate at which computers/networks can guess a trillion hashes.
- Volume: The net amount of crypto being traded in a market at a certain time
- Volatility: Market conditions where crypto prices rise and fall rapidly/unpredictably.
- Wei: The smallest unit of Ethereum, 1,000,000,000,000,000,000 Wei = 1 Ethereum
- Yield: The return on an investment
- Zero confirmation: A transaction that has yet to be confirmed on the blockchain.
