Learn the definitions and meanings behind key bitcoin and cryptocurrency terms. We cover everything from the building blocks of the blockchain, to lesser-known crypto slang, and everything in between.
‘ATH’ stands for ‘All Time High.’ In general terms, it refers to the highest price or point that an asset or item has ever achieved.
‘ATL’ stands for ‘all time low.’ It refers to the lowest price or value that an asset or item has ever been at.
Altcoin is an abbreviation of ‘Alternative Coin’ and is used to refer to all cryptocurrencies and tokens other than bitcoin and Ethereum.
Bitcoin Dominance (BTCD) refers to how much of the total cryptocurrency market is comprises of bitcoin (BTC). It is measured as a ratio between the market capitalization of BTC against all other cryptocurrencies.
A bitcoin maximalist (maxi) is someone who believes that bitcoin is the only true cryptocurrency and is the only one that will be utilized in the future once the hype has died down and the world has adapted to crypto.
The Bitcoin Price Index (BPI), also known as the CoinDesk Bitcoin Price Index (XBX), shows the price of Bitcoin against a number of other crypto and fiat currencies.
In blockchain technology, ‘block depth’ refers to the number of blocks mined after a specific block. Conversely, ‘block height’ refers to the number of blocks that preceded the block in question.
A block explorer is an online app that blockchain allows the user to discover the details of all of the transactions that have ever transpired on a particular blockchain.
A block reward is the remuneration received by nodes that participate in verifying a blockchain protocol or transaction.
A blockchain address, or ‘crypto address,’ is something like a cryptographic email address that is unique to the address holder.
A blockchain bridge allows users to transact cryptocurrencies across different blockchains.
Consensus is when at least 51% of the nodes on a blockchain network approve a transaction taking place.
A consortium, also known as a federated blockchain, is a type of blockchain that is operated within a particular industry or company.
A cryptocurrency bull run is a period when prices of cryptocurrency are consistently rising.
Byzantine Fault Tolerance is a property of a network algorithm or consensus protocol that operates on a distributed network to resolve errors or inconsistencies on the network by comparing data across the network and accepting the data that matches that of the majority of the network.
The processing of permanently removing cryptocurrency coins from circulation is referred to as ‘burning’ coins.
A cryptocurrency exchange is an online platform that allows its users to trade fiat currencies for cryptocurrencies and to exchange cryptocurrencies for other cryptocurrencies and tokens.
Cryptography refers to the development and implementation of techniques that allow for an individual or network to transfer, alter and store electronic data in a secure and private way.
A ‘dApp’ is an acronym for a ‘decentralized application.’ dApps are developed on the Ethereum blockchain, which means that although they operate just like regular appellations, they are decentralized and therefore more secure.
Decentralization is when the decision-making processes and activities of on organization are distributed across various locations instead of just being conducted in a single, central location.
An ERC-721 is an Ethereum-based token is a unique and non-interchangeable unit of data stored on a digital ledger. It represents proof of ownership of either a tangible or intangible asset.
FUD is an acronym for ‘fear, uncertainty and doubt.’ It was traditionally used as a marketing strategy to persuade the target audience to adopt a particular perception through fear.
Fiat currency is a legal tender that is issued by a government, person or institution and given value by them without having any resources to back them up.
A gossip protocol is a protocol that is designed to ensure that data is disseminated rapidly across all computing devices in a distributed network on the basis of peer-to-peer (P2P) communication.
In cryptocurrency and blockchain technology, the hash rate refers to the number of computations that were processed per second by all nodes while the attempted to crack the hash value of the hashing algorithm.
Cryptographic hashing, or ‘hashing,’ is the process whereby a mathematical function is used to generate values from a string of text.
A mining pool is a group of blockchain miners who connect the computing power of their nodes together in order to strengthen their computing power and share any rewards gained by completing a block.
Minting refers to the creation of new cryptocurrencies or NFTs by means of a proof-of-stake consensus protocol.
NGMI stands for ‘Not Going to Make It’ and is the opposite term for WGMI or We’re Going to Make It.
A private blockchain is a contained blockchain that can only be accessed by select nodes that are invited to join the network.
A public blockchain is a truly decentralized blockchain that is open for anyone to join and to verify and read all transactions that occur within the public network.
‘SATS’ is the abbreviation for ‘satoshis,’ in the same way that ‘USD’ is an abbreviation for ‘United States Dollar.’
‘Staking’ is a type of crpytocurrency reward that is given to certain cryptocurrency holders on particular blockchains.
WGMI means ‘We’re Going to Make It’, a term used in the cryptocurrency community to denote optimism.