Cryptocurrency and Blockchain Dictionary
A complete list of crypto definitions
Cryptocurrency and blockchain glossary
Commonly used terms in the world of blockchain and cryptocurrency
Terms commonly used in the world of blockchain and cryptocurrency
2 Factor Authentication is a double layer security measure. Most crypto exchanges use it. In order to log in, you not only need to enter a password, but also a code that you receive from the Google authenticator for example.
Launched in 2015, Ethereum is the world's programmable blockchain. Like other blockchains, Ethereum has a native cryptocurrency called Ether (ETH). ETH is digital money. People all over the world use ETH to make payments, as a store of value, or as collateral. But unlike other blockchains, Ethereum can do much more.
AML is the abbreviation for ‘anti-money laundering’. AML stands for policy and legislation on money laundering. This prevents illegally acquired funds from being converted into a legal variant. Within the crypto world, it is no longer unusual for AML techniques to be used by exchanges and wallets. This term is often used as AML/KYC, where KYC stands for ‘Know your customer’.
An airdrop is a way to distribute coins. End users can generally get coins for free or in exchange for a small task, such as subscribing to a newsletter, sending a tweet or inviting other people via a personal affiliate link.
A ‘51% attack’ refers to a possible attack on a blockchain by a group of ‘miners’, who hold more than 50% of the hashrate. In such a situation the ‘miners’ have the possibility to deliberately not confirm transactions or to issue transactions twice (double-spend).
Cold storage refers to storing cryptocurrency on a place where the private key cannot be accessed via the internet. This can be done on a hardware wallet, paper wallet or software wallet in an offline environment.
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