These 40 encryption terms must be known to web3 novices?
✌️ basic concepts
- Blockchain ? – A public ledger recording all transactions.
- Bitcoin ? – A digital currency pioneer born in 2009.
- Ethereum ? – Platform for developing smart contracts and dApps.
- smart contract ? – Automatic execution of contracts in code.
- Token ?️ – Digital assets or rights on the blockchain.
- DApp ? – Decentralized applications.
- DeFi ? – Decentralized financial services.
- Cryptocurrency wallet ? – Tools for storing and managing digital currencies.
- Public key & private key ? – A key pair that protects the asset.
- address ? – Account address for sending and receiving currency.
✌️ Mining and consensus
- Mining ⛏️ – Solve algorithmic problems to verify transactions.
- Proof of Work (PoW) ? – Demonstrate legitimacy through computational work.
- bifurcation ? – Permanent divergence of the blockchain.
- Soft Fork & Hard Fork ? – Blockchain compatibility changes.
? Markets and Investments
- ICO ? – IPO-like digital currency issuance.
- IEO ? – Token sale via exchange.
- airdrop ? – Free distribution of currency or tokens.
- Token Standard ? – Define the rules for how tokens operate on the blockchain.
- DAO ? – An autonomously managed blockchain organization.
- Stablecoin ? – A digital currency with stable value.
- NFT ?️ – a unique digital asset.
- Liquidity mining ? – Provide liquidity and get rewarded.
- Cross-chain ? – Interoperability between different blockchains.
✌️ trading platform
- cryptocurrency exchange ? – A platform for trading different digital currencies.
- CEX & DEX ? – Centralized and decentralized trading platforms.
? Wallet and Security
- Cold Wallet & Hot Wallet ?❄️ – Safe and convenient storage options.
- Mnemonic phrase ? – Key words for wallet recovery.
- HODL ? – Long-term holding without selling.
- FUD & FOMO ?? – Negative sentiment that affects market sentiment.
? Transactions and Operations
- Gas fee ? – The cost of performing the operation.
- Smart contract wallet ?️ – A wallet that offers extra functionality and security.
- multi-signature ? – Transactions that require multiple signatures.
? Mining Ecology
- Mining machine ?️ – Equipment specifically designed for mining.
- Mining pool ? – A place where miners work together to pool computing power to improve their chances of receiving rewards.
- Faucet ? – A service that provides small amounts of digital currency for free.
✌️ Derivatives and Documentation
- derivatives ? – Financial products based on digital currency prices.
- white paper ? – Documentation detailing the project.
- ICO rating ? – A comprehensive evaluation of the ICO project.
- Hash rate ? – The processing speed of the mining hardware.
- node ? – Verification point in the blockchain network.
? Technology and expansion
- Sharding ? – Technology to increase network processing speed.
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The content of this article is for reference only and does not constitute investment advice or an invitation, solicitation or recommendation for any investment product. Readers are advised to make their own judgment and seek professional advice.
Any information on the 852Fin platform ("852Fin Information"), including but not limited to product comparisons, product ratings, blog articles, etc., is for general education and reference purposes only and does not constitute or intend to constitute any regulated advice, trust, immigration , insurance, finance, investment or other professional advice, recommendation, approval, endorsement, invitation, sale of insurance, trust, immigration, financial or investment products.
852FIN reminds readers that the content contained in this article/video is mainly from public information online and does not constitute any professional advice. Readers should seek professional advice with specific questions about products or services.
852Fin Information does not consider your personal needs, and reading the relevant information should not be regarded as a personal suitability assessment, nor can it form the basis for any decision to purchase products/services.
852FIN and the author of the pen column are not responsible for any loss or damage caused by the information contained or omitted in the article.
Before purchasing any product or service, you should conduct your own research based on the information provided by the company that provides you with the product or service, and/or seek independent and professional advice from a licensed professional. 852Fin information is collected, verified, and updated from different channels with our best efforts. 852Fin and its related parties, agents, directors, officers, and employees will not be held liable for any claims or losses arising from the relevant information. 852Fin also does not guarantee or guarantee the accuracy, completeness and timeliness of the relevant information.
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