Cryptocurrency and Blockchain Dictionary
A complete list of crypto definitions
Cryptocurrency and blockchain glossary
Commonly used terms in the world of blockchain and cryptocurrency
Terms commonly used in the world of blockchain and cryptocurrency
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Blockchain
Blockchain is most simply defined as a decentralized, distributed ledger technology that records the provenance of a digital asset. To put it simply it is a kind of database for storing information related to the crypto world.
However, it works in a completely different way when compared to a normal database. Usually, databases organize the data using tables or indexes, but when it comes to blockchain the way how information is stored relies on blocks that are chained together.
Whenever new data enters the blockchain, it is stored in a new block. And when the data block is full, the blockchain connects it to the prior existing block. In this way, the complete system works on a chained system that follows a particular order while undergoing the process.
Blockchain is most simply defined as a decentralized, distributed ledger technology that records the provenance of a digital asset. To put it simply i...Other Important Terms
2 Factor Authentication (2FA)
2 Factor Authentication is a double-layer security measure. Most crypto exchanges use it. In order t...Block Reward
The block reward is the payment that is offered to the node that is securing the blockchain. In the...Anti-Money Laundering
AML is the abbreviation for ‘anti-money laundering. AML stands for policy and legislation on m...Smart Contract
A smart contract is a computer program or a transaction protocol respectively, which is intended to...Cold Storage
Cold storage refers to storing cryptocurrency in a place where the private key cannot be accessed vi...Cryptocurrency News