Crypto Wallet

A cryptocurrency wallet is a mechanism for storing a set of public and/or private keys for cryptocurrency transactions. It can be any of the following :

Cryptocurrency Transaction Examples

Mark wants to send 1 BTC to Jessica. To do this, he uses his private key to 'sign' a message with the transaction-specific details. This message, which must be broadcast to the network, will contain the following:

Cryptography

Cryptography is a technique or protocol that secures information from any third party during communication.

DAO Decentralized Autonomous Organization

A DAO, “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited.

DEX

Distributed Ledger

Distributed ledger technology (DLT) is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. 

Fiat Currency

A fiat money is a type of currency that is declared legal tender by a government but has no intrinsic or fixed value and is not backed by any tangible asset, such as gold or silver.

Fungible Tokens

A Fungible Token is a representation of an asset on a blockchain that is interchangeable. Cryptocurrencies are the prime example of fungible tokens because each coin has the same value as any other coin of the same type at any given moment.

Hash Functions

A hash function turns an input (for example, a string of text) into a string of bytes (data) with a fixed length and structure. The output or value created is called a ‘hash value’ or ‘checksum.’

Hot vs Cold Wallets

The main difference between hot wallets and cold wallets is that hot wallets are connected to the internet through your computer or phone, while cold wallets are hardware devices (or physical media) that can keep your data offline.

Initial Coin Offering

Initial coin offerings (ICOs) are a popular way to raise funds for products and services usually related to cryptocurrency. ICOs are similar to initial public offerings (IPOs), but coins issued in an ICO also can have utility for a software service or product. A few ICOs have yielded returns for investors.

Liquidity Pool

Liquidity pools enable users to buy and sell crypto on decentralized exchanges and other DeFi platforms without the need for centralized market makers.

Non-fungible Tokens

Non-fungible Tokens, often referred to as NFTs, are blockchain-based tokens that each represent a unique asset like a piece of art, digital content, or media. An NFT can be thought of as an irrevocable digital certificate of ownership and authenticity for a given asset, whether digital or physical.

Public Key Cryptography

"Asymetric-key encryption" or "Public key encryption" is a method of encrypting or signing data with two different keys and making one of the keys, the public key, available for anyone to use. The other key is known as the private key. Data encrypted with the public key can only be decrypted with the private key.

Quantitative Easing

Quantitative easing (QE) is also referred to as 'printing money' and historically known as 'debasement of money'.

Secret Key Cryptography

“Symmetric encryption” or “secret key encryption” is one key crypto. You use one key to encrypt the information and the same key to decrypt the information. The benefit is that it is very fast but since both parties use the same key, there needs to be a secure channel for key exchange.

Smart Contract

A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network.

Snapshot

Snapshot is a voting tool based on the IPFS decentralized storage system, used by many crypto projects to poll their user bases.