FinTech is hard enough to master, let alone understand its abstruse technical jargon. If something is not clear, you may want to read this collection of advanced terms.
The first known cryptocurrency based on Blockchain. It was created by Satoshi Nakamoto in 2009, and now it is the most popular crypto in the world.
A distributed ledger technology. Data is recorded in chunks called blocks, and each block is connected to the next one by an encrypted digital signature. Everyone in the network owns a copy of the ledger, making any manipulation or information deletion impossible.
The number of blocks in a blockchain. Blocks are linked one to another to form the chain.
A software that allows users to access a blockchain from a device in order to contribute processing transactions. A client does not necessarily include a wallet, but it usually does.
It is a digital element whose value is tied to assets like oil, gold, silver or fiat currency.
Any digital asset designed to work as a currency, so it can be exchanged for goods or services.
A cryptocurrency must satisfy six conditions:
The Financial Action Task Force is an international organisation based in Paris that sets standards to prevent and fight financial crimes like money laundering, terrorist financing, and so on. Read our article to find out more.
Currencies issued by national governments, e.g.: Euro (EUR), Swiss Franc (CHF), British Pound (GBP).
It means Initial Coin Offering. They are used to fund crypto projects. It is very common to find start-ups using ICOs to seek investors. Read our article to find out more.
It means Initial Exchange Offering. It is a type of ICO where the cryptos or tokens are sold directly on an exchange platform.
A piece of data containing information about stakes of cryptocurrency held by miners. Based on various criteria, a function finds out who has the best stake and the right to generate next block.
A piece of data miners are required to produce in order to generate a block. It usually involves the solution of a mathematical problem.
An exchange of data between two peers in a network executed with no intermediaries.
The pseudonym of the person or the group who created Bitcoin. Their identity is still unknown, though many people claimed to be Satoshi Nakamoto. His alleged date of birth is the 5th of April 1975, and based on the British grammar used in the Bitcoin white paper they are thought to be of British origins.
A contract where conditions and actions are automatically verified and executed via software and no third party is needed. Read our article to find out more.
A client software that provides a digital storage for cryptocurrencies and other digital assets. It has a string known as address to send and receive money.
In the Blockchain industry, a document, report or guide explaining the mission and vision of a project as well as how it works.
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