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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Decentralized Autonomous Organizations
DAO is an abbreviation of ‘Decentralised Autonomous Organization’. This is basically an organization that runs automatically on itself without any human interventions. The work is automatically executed through Smart contracts. As you may already know that smart contracts are to be executed automatically whenever a certain condition is met. The DAO is basically a transparent computer program that is not regulated by any central government.
However, when it comes to voting, the decision depends on the majority of network actors who are involved in the primary proposals. Unlike normal systems in the crypto industry, DAOs are capable of decentralizing geographically and on a structured basis, but the main concept behind the entire ecosystem remains centralized for sure. Hence, the key decisions are taken by the entire community instead of leading the whole system by a central leader.
DAO is an abbreviation of ‘Decentralised Autonomous Organization’. This is basically an organization that runs automatically on itself wit...Other Important Terms
Bitcoin
Bitcoin is a digital or virtual cryptocurrency created in 2009 that uses peer-to-peer technology to...Anti-Money Laundering
AML is the abbreviation for ‘anti-money laundering. AML stands for policy and legislation on m...2 Factor Authentication (2FA)
2 Factor Authentication is a double-layer security measure. Most crypto exchanges use it. In order t...Cold Storage
Cold storage refers to storing cryptocurrency in a place where the private key cannot be accessed vi...51% Attack
A ‘51% attack’ refers to a possible attack on a blockchain by a group of ‘miners&r...Cryptocurrency News