Basic Glossary for Crypto
ALTCOIN - cryptocurrency born after bitcoin, or "alternative" to bitcoin
ATM - or cash machine, is a physical equipment that allows the withdrawal (or purchase) of currencies
BILLION - one billion in English
BLOCKCHAIN - is a file which, on the data it stores, places a time stamp of the moment in which it was received. It is a file shared on several nodes of a peer to peer network , it is unchangeable and "eternal". It is normally in the public domain and is used to record cryptocurrency transactions and / or smart contracts
BOOK - is the set of offers to sell (bid - money) and buy (ask - letter) of those who operate on a platform for the exchange of securities or currencies, or on an exchange platform for cryptocurrencies
PRIVATE KEY - is a number used in (asymmetric) cryptographic systems to decrypt a message or to apply a digital signature.
PUBLIC KEY - is a number used in (asymmetric) cryptographic systems to encrypt a message or to verify the authenticity of a digital signature
BUY or SELL "AT THE MARKET" - accept the offers to sell or to buy in the BOOK
BUY or SELL "AT THE LIMIT" - insert your offer to buy or sell in the book
FORCED COURSE - is the quality of a coin that it cannot be refused according to the law of the state that issued it. The fiat currencies are called fiat currencies and are traditional currencies such as Euro, Dollar, Pound Sterling, Yen, Franc, etc. etc.
CRYPTOCURRENCY - digital currency, encrypted, based on Blockchain technology
DIFFICULTY - is the difficulty assigned by the Protocol for confirming a block of the Blockchain
DOUBLE SPENDING - digital fraud in which a user tries to spend the same digital currency several times, for example by sending the same payment to two different recipients at the same time
EXCHANGE - is a platform for trading cryptocurrencies
FEE - or commission. In the world of cryptocurrencies, the fee is the commission on transactions and normally the miners who confirm those transactions benefit from it. Fees can be mandatory or optional. When they are optional, they are promised by senders to speed up the completion of the ordered transaction
FORK - variation of one or more rules of the IT protocol of a cryptocurrency. The Fork can be a normal "up-grade" of the protocol (in this case it is about SOFT FORK ) or a drastic change that leads to the birth of a new cryptocurrency (in this case it is about HARD FORK )
FUNCTION OF HASH - is an irreversible cryptographic algorithm that transforms a string, or a file, of arbitrary length or size into a string of defined length
HASH - or fingerprint, is the result of an algorithm called the Hash function
HALVING - halving of the reward for miners. The Bitcoin IT Protocol, eg. foresees a halving every 4 years: until 2012 the reward was 50 bitcoins, in the following four year it was 25 bitcoins, now it is 12.5 bitcoins, in the next four years (2021-2024) it will be 6.25 bitcoins and so forward
HASHING POWER - from Hash , is the overall computing power made available by miners for mining . It expresses the amount of hash that can be calculated per second.
ICO - Initial Coin Offering, or initial offer of new cryptocurrencies. It is the initial phase of the launch of a new cryptocurrency in which this is normally offered to the public at a discounted price.
BITCOIN ADDRESS - is a number that identifies the "account number" of a wallet . It is similar to the bank IBAN code which serves to indicate "where" to make a specific payment
INFLATION - is the quantity of a "new issue" good / security / currency that is injected into the reference market over time
MAKE TIME - English TIMESTAMP, is a string that represents a date and / or time and you feel when a certain event occurs
MEMPOOL - is a sort of virtual "waiting room" in which payment orders, sent online by users, wait to be confirmed by the miners, or inserted in a block of the Blockchain
MINERS - or miners, indicates the economic subjects (entrepreneurs) or their processors who, thanks to their computational work (called mining), extract the newly issued cryptocurrencies. In reality, cryptocurrencies are assigned to them by the IT Protocol of the digital and decentralized monetary system as a reward for their control activity on the regularity of transactions
MINING - or undermining is the activity of miners (or miners) aimed at confirming regular transactions arranged in a digital and decentralized monetary system
FIAT MONEY or COURSE COURSE - currency issued by a State Central Bank such as Euros, Dollars, etc. (see meaning of fiat )
NONCE - term used in cryptography to indicate a number, generally random or pseudo-random, which is used only once
ORACLE - database or specialized service that sends information from the external real world to the Blockchain to verify or not the conditions for the execution of a smart contract
OPEN-SOURCE - open-source software is software whose code is readable
PAIR - currency pair in trading: eg. the BTC / EUR or BTCEUR pair indicates the market in which bitcoins are bought and sold against the euro
BTC / USD or BTCUSD - market where bitcoins are exchanged for dollars
LTC / EUR or LTCEUR - market where Litecoin is exchanged for euros
LTC / BTC or LTCBTC - market where Litecoin is exchanged for bitcoin
BTC / XRP or BTCXRP - market where bitcoins are exchanged for Ripple
EUR / XRP or EURXRP - market where euros are exchanged for Ripple
USD / XRP or UDSXRP - market where dollars are exchanged for Ripple
ETH / EUR or ETHEUR - market where Ether is traded for euros
ETH / BTC or ETHBTC - market where Ether is exchanged for bitcoin
ZEC / BTC or ZECBTC - market where Zetacash is traded for bitcoin
ZEC / EUR or ZECEUR - market where Zetacash is exchanged for euros
BCH / BTC or BCHBTC - market where Bitcoin Cash is exchanged for bitcoin
PEER TO PEER - literally “as an equal”. It is a type of computer network in which all nodes have an equal hierarchy. It is normally indicated by the abbreviation: P2P
PERMISSION-LESS - which can be done without having to ask for permission or permission from anyone
PROOF of WORK - literally "proof of work": it is proof that the miner must provide the network with the confirmation of the block, that is the nonce he has found
PROOF of STAKE - "proof of possession" is the mechanism according to which the miner who confirms the block is named according to his wealth in that particular cryptocurrency
PROOF of INTEREST - "proof of interest" is a Proof of stake mechanism which also takes into account the actual use (transactions) that the miner makes of that cryptocurrency.
IT PROTOCOL - is a software that stores predefined rules and enforces them by the computer system that manages
PEER to PEER NETWORK (P2P) - see peer to peer
REWARD - is the reward given to miners for their mining activity. Normally it is given to the miner who first manages to confirm a block of transactions.
ROIALTY - right of the owner of the property to obtain the payment of a sum of money by anyone who exploits said property for commercial and / or profit purposes.
SMART CONTRACT - virtual contract with automatic execution, that is without human arbitration; it is software stored and run on a Blockchain
STOP-LOSS - sales planning of a security if it falls below a certain value
STOP ORDER - buy or sell order subject to STOP, or rather upon reaching a certain value of the security (top in case of purchase, bottom in case of sale = STOP-LOSS)
TAKE-PROFIT - sales planning of a security if this exceeds a certain value
TANGLE - a sort of Blockchain, not linear but networked, without scalability constraints
TOKEN - is an altcoin , specifically a title that usually represents a right of royalties
TRANSACTION - is the payment made with a currency
TRILLION - trillion in English (other than our trillion ...)
TRUST-LESS - is the concept whereby the security is guaranteed without the need for the intermediation of a fiduciary guarantor
VOLATILITY - characteristic of a stock whose price fluctuates violently
WALLET - virtual wallet to receive, store and spend digital coins / cryptocurrencies. It continene the private key to digitally sign necessary for the execution of a transaction output (surcharge) and an address of deposit "" (comparable bank IBAN) for incoming transactions (deposits and receive payments)