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Being an Avid Learner, thought of sharing wat I learnt to the Trading community whom I ❤️ the most.
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✅✅ICO. An acronym that stands for initial coin offering.
⭐️✅An ICO is the cryptocurrency equivalent of an initial public offering (IPO).
It offers investors the opportunity to back a new crypto project.
Hot wallet:A form of online storage for cryptocurrencies, provided either by an exchange or a third party.
⭕️⭕️Since storage is online and accessed with passwords, hot wallets are typically a target for hackers.
✅✅However, hot wallet operators can help users regain access to their assets if they lose their access codes.
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Gas:Transactions on the Ethereum network carry a fee.
✅✅For every transaction, users must pay an amount of the native Ethereum currency, Ether (ETH).
⭐️⭐️This fee is referred to as gas. Gas is used to reward Ethereum validators for the energy they use clearing transactions.
✅✅Gas also serves as a deterrent against malicious use of the blockchain.
Fork:The process by which the community that runs an individual cryptocurrency makes a change to the blockchain’s governing protocols.
⭐️⭐️ The change marks a major departure—a fork, if you will—from the previous iteration of the blockchain.
✅✅ Soft forks typically involve a change in the software protocol, but one that is backwards-compatible.
✅✅Hard forks are significant enough to require all nodes to upgrade to the latest version.
DAO:An acronym that stands for a decentralized autonomous organization.
⭐️⭐️ A DAO is a group of people who work together toward a shared goal and abide by rules written into the project’s self-executing computer code.
✅✅Bitcoin (the project, not the currency) is the earliest example of a DAO.
dApp:Short for decentralized application, a dApp is an app that isn’t controlled by a central authority.
⭐️⭐️Twitter is an example of a centralized app, with users relying on it as an intermediary to send and receive messages.
✅A dApp is distributed on a blockchain, allowing users to send and receive data directly without an intermediary.
DeFi:Short for decentralized finance. Finance is traditionally centralized because it relies on trusted intermediaries.
For example, if you want to send money to a friend or relative, you rely on your bank to send it to the recipient’s bank.
DeFi, on the other hand, requires no intermediaries.
⭐️⭐️Participants can send and receive assets directly. In theory, this makes transactions faster and cheaper.
Cryptography. A method of keeping information secret and secure by scrambling it into indecipherable codes. The information can only be decrypted and read with the necessary key.
Cold wallet:A physical storage device such as a flash drive, hard drive or “solid state” drive used to store cryptocurrency offline
0x Protocol: 0x is an Ethereum-based open-source platform for exchanging cryptocurrencies.
It allows for the creation of features in a decentralized exchange (DEX), a wallet or a marketplace.
51% Attack:If more than half the computer power or mining hash rate on a network is run by a single person or a single group of people, then a 51% attack is in operation.
Non-fungible Token (NFT):A digital certificate of ownership that represents a digital or physical asset.
An NFT has a unique code that allows it to be identified as something that can be digitally-owned.
⭐️Think of NFTs as digital ownership of something like art work, sports memorabilia, photos, etc.
Stablecoin:A digital currency that pegs its value to an external reference, typically the U.S. dollar.
Metaverse:Online virtual worlds that stand alone or are interconnected.
These virtual worlds provide users with an immersive experience by utilizing virtual or augmented reality technologies
Metaverse
Online virtual worlds that stand alone or are interconnected. These virtual worlds provide users with an immersive experience by utilizing virtual or augmented reality technologies.
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Virtual Currency:A digital representation of value used as a medium of exchange, a unit of account, or a store of value, but does not have legal tender status in the United States.
⭐️Cryptocurrencies are considered to be virtual currencies.
Digital Wallet:Wallets are software programs that allow people to “store” their cryptocurrency, by storing various components of cryptocurrency transactions - such as private keys, public keys, and addresses - that allow the user to gain access to the currency.
These wallets come in many forms, including web-based, desktop, mobile, paper, and hardware.
Digital Currency:A form of currency that is available only in digital or electronic form.
Crypto Exchange:A platform for buying and selling digital currency.
For instance, customers may trade one digital currency for another, or buy digital currency using "fiat currency" (such as the U.S. dollar).
