Cryptocurrency Terms and Meaning (2)
Continuing cryptocurrency terms and meanings from previous article.
Confirmation Time
The amount of time it takes for an unconfirmed cryptocurrency transaction to be included into the blockchain by miners. Transaction fee size can greatly affect confirmation time.
Cantillon Effect
An effect that’s described as a change in relative prices resulting form a change in money or token supply.
Byte
A unit of digital information. Typically, there are 8 bits in a byte. (A bit is a basic unit of information in computing and digital communications. It’s a portmanteau of ‘binary digit’.)
Bitcoin
A peer-to-peer network of nodes that maintain a blockchain-based distributed ledger of bitcoin balances. The cryptocurrency native to the Bitcoin network is bitcoin.
Beta
A measure of how a given asset moves, on average, when the overall market increases or decreases.
BEP-20
The technical standard used to issue tokens on Binance Smart Chain (not to be confused with Binance Chain).
BEP-2
The technical standard used to issue tokens on Binance Chain (not to be confused with Binance Smart Chain).
Bear Market
A sustained decrease in prices encouraging a negative outlook on the market.
Automated Market Maker (AMM)
Smart contracts that allow digital assets to be traded in a permissionless and automatic way by using liquidity pools, rather than a traditional market of buyers and sellers. More on AMMs. Appchain
Short for application-specific blockchains, appchains are blockchains that are customised to operate a single app.
Altcoin
A cryptocurrency that functions similarly to—but not exactly the same as—bitcoin. Typically, founders will detail in their whitepaper how their project’s altcoin is distinct from bitcoin. Alphanumeric
Containing both letters and numbers.
Alpha
The active return of an investment relative to the return of a suitable benchmark index.
Airdrop
A distribution of cryptocurrencies to a pre-defined set of blockchain addresses that’s generally free of charge. Airdrops can generate awareness of the cryptocurrency being airdropped, helping drive adoption. (Learn about how airdrops are taxed in this Beginner’s Course topic.)
Address
A unique string of letters and numbers to and from which cryptocurrency is sent. An address—which is usually a hashed version of a public key—functions like an email address.
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