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Kelta cryptopedia

Address

A digital currency address, where you can send or receive a digital currency. They are very similar to a normal bank account. Usually consists of long tail of numbers and letters.

Altcoin

All cryptocurrency other than bitcoin. There are more than 1000 registered of these alternative protocol assets.

Arbitrage

Arbitrage in Crypto stands for exchanging one cryptocurrency on two different exchanges to secure a profit. For example, one exchange sells for 5900, another one for 6000, you can buy from the first and sell to the other.

ATH

ATH is a short term for “all-time high” value of the currency. Especially for Cryptocurrencies this might prove very helpful due to the high volatility.

Bear/Bearish

"Bears" believe that an asset, will decline in value. For example, if a trader thinks a cryptocurrency will depreciate, the sentiment surrounding the digital asset is "bearish."

Blocks

Most of digital currencies are using blocks, these contains transactions that have been confirmed and then combined together, and this is the essence of the Blockchain technology.

Blockchain

The Blockchain is a distributed ledger system, which consists of a series of blocks. Blocks contain a verified transactions. This decentralized system is also immutable, meaning, that entries cannot be erased. The Blockchain was first introduced when the bitcoin white paper was released in late 2008.

Bull/Bullish

Believing, that an asset’s value will rise, makes one a "bull." When an investor has this optimistic expectation of an asset's future bull, this frame of mind is described as "bullish."

Consensus

The network for a digital currency reaches consensus when the network's nodes agree that a transaction took place. This agreement is crucial if the varying network participants (nodes) are to have the same information.

Cryptocurrency

A cryptocurrency is a currency that relies on cryptography. For example Bitcoin, uses cryptography to verify transactions.

Cryptography

The process of encoding and decoding information, in a way, that observers are unable to understand the information being sent.

DDoS Attack

A distributed denial of service (DDoS) attack takes place when multiple parties work together to overwhelm a system by inundating it with either requests for information or malicious data. Basically, the parties involved in such an attack want to prevent a resource from being able to provide some specific service, such as serving a web page.

Some digital currency exchanges have suffered DDoS attacks from nefarious parties looking to cripple these marketplaces and hopefully take advantage of this vulnerability to steal cryptocurrency.

Distributed Ledger

Distributed ledger is a system of recorded information that is being distributed to many different devices. Just look at the Bitcoin for example, it is a distributed ledger, which is keeping track of all the Bitcoin transactions.

Escrow

Escrow refers to a third-party holding financial resources on behalf of other parties for safety and trust purposes.

Fiat Currencies

Fiat currencies are currencies that have value because they are minted by a central bank. Fiat means "by decree," these currencies have value because some central authority has decreed that they have monetary value. Examples of fiat currencies include the British Pound, Euro and Japanese yen.

Exchanges

Another name for marketplaces where traders can make digital currency transactions. It is the fastest way to get your hands on your desired cryptocurrency.

FOMO

“FOMO” means “fear of missing out”. It is very often seen case, when investors start to buy based on their expectations. This can very easily push the market and therefore it makes it dangerous. Buying an asset based on the recent notable upside can turn your investment into nothing, especially when you fall victim to market manipulation.

Fork

A fork changes the digital currency’s protocol. They are being updated by developers from time to time. A fork can be either a hard fork or a soft fork. A hard one is a change to a digital currency’s protocol, which makes blocks created using the old protocol incompatible with the new chain.

FUD

Fear - uncertainty - doubt, these can be spread to mislead or create an inaccurate information in order to cause an asset’s price to decline. Fall can be profitable for shorts or buying in at a lower price to increase the profitability

Hard Fork

It is a permanent change to a digital currency’s protocol, it results in a whole new Blockchain, which will not accept any blocks mined using the previous rules. Both of these chains can continue to exist if the old chain survives.

HODL

“Hold on for dear life”, it came to life by misspelling of the word HODL. It simply states, that due to the high volatility of the cryptocurrency market it is sometimes best to “HODL”.

Initial Coin Offering

An ICO represents the first time, that an organization offers digital tokens to the public in an effort to raise money. Companies frequently hold these offerings so they can finance

KYC

"Know your customer," various jurisdictions have various KYC regulations, which have come to affect startups, ICOs. These regulations require companies to verify the identity of their investors.

Long/Long Position

Going long or taking a long position, means making a wager that an asset will rise in value. If a trader purchases a digital currency like bitcoin, for example, they are making a bet that the cryptocurrency will appreciate.

Market Cap

Market cap is short for market capitalization, which is a term for total market value. The market cap of bitcoin, for example, is the number of BTC outstanding multiplied by the digital currency's price.

Mining

Mining is the process of creating new units of a digital currency. For example, every time a block is mined, the bitcoin network releases new bitcoins. Mining involves confirming transactions and combining them in to blocks.

This verification requires hardware and electricity, and miners are rewarded with digital tokens for contributing these needed resources.

Mining Incentive

The mining incentive is a reward that miners get for confirming transactions and mining them in to blocks. Verifying the transactions of the bitcoin network, for example, requires specialized hardware and substantial electricity, so miners are compensated with a mining incentive.

Moon/Mooning

When a digital currency moons, it means it rises sharply in value. If this happens, a crypto trader could talk about how a currency is going "to the moon!"

Noob

Newcomers are frequently described as "noobs" by industry insiders. Digital currencies are highly volatile, so NOOBS should keep their risky nature in mind. It is fairly common in the gaming world, since there are a lot of Noobs..

POW

"Proof of work," is a system of proving, that a digital currency’s transactions have been verified. Many digital currencies, including bitcoin, use POW. Under such a system, miners must do "work" that is difficult for them to contribute, but easy for the broader network to verify.

POS

POS stands for "proof of stake," which is another method of confirming transactions. POS providers often provide all their digital tokens up front. It means, that the miners are selected based on how many units they have (their stake). Users who confirm transactions, sometimes referred to as "forgers," receive transaction fees for their contributions.

Private Key

A private key is a piece of security information—presented as a string of numbers and letters —that an investor can use to access their digital currency.

Public Key

A public key is an address where an investor receives digital currencies. The public key, is also a combination of numbers and letters.

Pump and Dump

A "pump and dump" is a type of investment strategy, where a market participants work together to inflate the price of an asset, this allows them to sell it when its value is artificially high. This practice is very common for the cryptocurrency markets.

Rekt

Another fairly common gaming slang term, "rekt" stands for "wrecked." It basically means, having lost a substantial amounts of money.

ROI

"Return on investment." For one to successfully invest it is imperative to know the ROI.

Satoshi Nakamoto

Satoshi Nakamoto is the pseudonym of the creator of bitcoin, there are many individuals, who has claimed to be Nakamoto. None of them succeeded in making the cryptocurrency universe to believe them.

Short/Shorting

Shorting an asset or taking a short position, means making a bet that the asset will fall in value. This method is very risky and trying to do so with Cryptocurrencies makes it even more difficult because of the high volatility of the market.

Token

A digital token is a unit of a digital currency. It is worth noting that some of these tokens are used for specific ecosystems, and those are frequently referred to as utility tokens. A perfect example of the utility token is KELTA.

Whale

The term "whale" describes a trader, who makes bets of significant value. Whales possess the ability to execute very large transactions, which can potentially manipulate the market or "make waves in the ocean."

White Paper

The ICO’s and the developers creating digital currencies usually provide white papers. These documents consist of detailed information about the digital token and its underlying technology.

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