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Crypto 101: 46 Essential Terms for Crypto Enthusiasts
Blockchain: A decentralized, publicly distributed ledger that records transactions across a network of computers.
Bitcoin: The first and most popular cryptocurrency, created by Satoshi Nakamoto in 2009.
Altcoin: Any cryptocurrency other than Bitcoin.
Satoshi Nakamoto: The pseudonymous creator of Bitcoin.
Mining: The process of verifying and adding transactions to a blockchain.
Hash: A unique mathematical fingerprint of a block of data.
Node: A computer that participates in a blockchain network.
DApp: A decentralized application built on a blockchain.
Smart Contract: A self-executing contract stored on a blockchain.
Token: A unit of value used on a blockchain platform.
Exchange: A platform where users can buy, sell, and trade cryptocurrencies.
Wallet: A software program that stores your private keys and allows you to interact with the blockchain.
Public Key: A cryptographic key that is publicly available.
Private Key: A cryptographic key that is kept secret and should never be shared.
Address: A unique identifier for a wallet on a blockchain.
Transaction: A transfer of value between two wallet addresses.
Block: A group of transactions that are added to a blockchain.
Block Height: The number of blocks that have been added to a blockchain.
Fork: A split in a blockchain that creates two separate versions of the chain.
Hard Fork: A permanent split in a blockchain that creates two incompatible versions.
Soft Fork: A temporary change to the rules of a blockchain that is backwards compatible.
Consensus Mechanism: The process by which nodes in a blockchain network agree on the state of the ledger.
Proof of Work (PoW): A consensus mechanism that requires miners to solve a complex mathematical puzzle to add a block to the blockchain.
Proof of Stake (PoS): A consensus mechanism that allows users to stake their cryptocurrency to become validators and earn rewards.
Decentralization: The distribution of power and decision-making across a network.
Immutability: The inability to change or tamper with the data stored on a blockchain.
Transparency: The ability for anyone to view the data stored on a blockchain.
Security: The resistance of a blockchain to hacking and fraud.
Volatility: The large price fluctuations that are common in the cryptocurrency market.
HODL: A slang term for holding onto cryptocurrency, regardless of the price.
FOMO: Fear of missing out, often used to describe the feeling of wanting to buy a cryptocurrency because its price is rising.
FUD: Fear, uncertainty, and doubt, often used to describe negative sentiment towards a cryptocurrency.
Whale: A large investor who can significantly impact the price of a cryptocurrency.
Altseason: A period of time when altcoins tend to outperform Bitcoin.
Pump and Dump: A scheme where a group of people artificially inflate the price of a cryptocurrency and then sell their holdings for a profit.
Rug Pull: A scam where the developers of a cryptocurrency abandon the project and take the investors' money.
KYC (Know Your Customer): A regulatory requirement that exchanges and other financial institutions must comply with to prevent money laundering.
AML (Anti-Money Laundering): A set of laws and regulations designed to prevent criminals from using the financial system to launder money.
Regulation: The government's oversight of the cryptocurrency industry.
DeFi (Decentralized Finance): A new financial system that is built on blockchain technology.
NFT (Non-Fungible Token): A unique digital asset that cannot be replicated.
DAO (Decentralized Autonomous Organization): An organization that is governed by smart contracts and does not have a central authority.
Web3: The next generation of the internet, built on blockchain technology.
Metaverse: A virtual world that exists online and is accessed through VR and AR technologies.
Play-to-Earn: A type of game where players can earn cryptocurrency by playing.
Memecoin: A cryptocurrency that is inspired by a meme or internet joke.
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