Cryptocurrency Terms and Meaning (1)
Introduction:
Good day everyone, today we are gonna be discussing some crypto currency terms and their meaning.
There are some key terms in crypto currency which are as follows:Bull Market
A sustained increase in prices encouraging a positive outlook on the market.
UIDL
A deliberate misspelling of ‘build’, this term is essentially a reminder to focus on improving the quality of tech and projects occupying the space. Broker
An individual or firm (i.e., a brokerage firm) that typically charges a fee or commission for executing buy and sell orders submitted by cryptocurrency investors. Blockchain
A database created and maintained by a peer-to-peer network of nodes. Blockchains comprise individual blocks that are each cryptographically linked to one another. Bridges
Blockchain bridges help users transfer tokens between different blockchains.
Bond
A type of debt security which effectively represents an IOU. Bonds are typically issued by governments and corporations when they want to raise money. (Head to What Are Investment Bonds & How Do I Buy Them? for more on bonds.)
Block Reward
The amount of newly minted cryptocurrency and transaction fees automatically awarded by the blockchain protocol to a miner when they successfully validate a new block.
Block Height
The number of blocks that exist between a given block and the genesis block. The eighth block to be added to a given blockchain will have a block height of seven, for example.Block Explorer
A website or software application that allows users to browse and analyse the entire history of a specific blockchain network.
Block
A discrete group of valid transaction data that is cryptographically tied to the previous block; collectively forming a chain of blocks (i.e., a blockchain).
Conclusion:
This article covers some important terms in crypto currency like Bull market, Block, Brocker, Blockchain, Bond, and bridges.
Note: Article sourced from Bitbama's read to earn platform. https://www.bitbama.io/user/articles
Comment, like, and react if you found this article helpful.