For your convenience we created crypto investor`s glossary — the list of main terms and their definitions.
Blockchain is a transaction chain database. Blockchain constantly updates on many computers at the same time (is decentralized), blocks are linked the way that it is not possible to edit or delete all transaction data.
Cryptocurrency – is a digital asset that uses cryptography to conduct transactions, which ensures anonymity (more or less). As a rule every cryptocurrency is based on a separate blockchain and general information about each transaction is open to the public.
Mining – creation of new blocks in a blockchain through computer calculations. By mining blocks for a particular cryptocurrency, the miners “enter” new transactions into the blockchain and receive commissions from transactions
Token – is a kind of a “stock” issued by a company. It is almost the same that cryptocurrency but has no clear economic value.
ICO – is a cryptocurrency analogue of IPO (Initial Public Offering), when the company distributes tokens among investors and issues them on the exchange. Tokens just like shares, can probably guarantee dividends – a part of company’s profits, but usually they are used only for trading on exchanges. Investments in ICO are not regulated and do not guarantee profits, there are some cases of fraud and hacker attacks.
Fiat currency – common type of currency issued by by the state. This is how members of cryptocurrency community call dollars, rubles, euros and other traditional currencies.
Boosteroid – is a cloud services platform that provides convenient access to computing resources, storage, software products and other functionality.
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