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.
Bounties are simple tasks of jobs by the team behind a coin. These can be as simple as joining a Telegram channel or by (re)tweeting. It could also be a bit more difficult like a translation job for example. The participants receive rewards in the form of coins in exchange for completing these bounties.
A block explorer is an online service to track blockchain transactions. It usually is a website where you can see all the new blocks that are being created. You can also search for transactions and wallet addresses. The best-known block explorers are blockchain.info for Bitcoin and etherscan.io for Ethereum.
With digital currency, there is a risk that the holder could make a copy of the digital token and send it to a merchant or another party while retaining the original.
Blockchain is most simply defined as a decentralized, distributed ledger technology that records the provenance of a digital asset.
The block reward is the payment that is offered to the node that is securing the blockchain. In the case of Bitcoin, which is has a Proof-of-Work consensus algorithm, these would be the miners. The payment is in the form of the native cryptocurrency of that blockchain. The amount is a predetermined reward per block, but often that is supplemented with the fees that are paid for the transactions that block contains. For Bitcoin the current block rewards are cut in half every four years. This is called the ‘halvening’.
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