CRYPTO CURRENCY DICTIONARY

TERMS COMMONLY USED IN THE WORLD OF BLOCKCHAIN AND CRYPTOCURRENCY

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Block Reward

The block reward is the payment that is offered to a node that is securing the blockchain. In the case of Bitcoin, which has a Proof-of-Work consensus algorithm, these could be the miners. The payment is in the form of the native cryptocurrency in that blockchain. The amount is a predetermined reward for each block, but often that is supplemented with the fees that are paid for the transactions that the block holds. In Bitcoin, the current block rewards are cut in half every four years.  This is called the ‘halvening’.

Other Important Terms

Tokenization (Asset Tokenization)

Tokenization is a technique for converting both tangible and intangible marketable assets (or "abilities") into digital tokens. Tokens, unlike bitcoin currencies, are used for more than just buy/sell transactions and storage. Among these utilities are investing, value storage, buying, and crowdsourcing. Tokenization expands the pool of prospective investors, shortens transaction times, and boosts liquidity as compared to more traditional financial and trading techniques.

Block explorer

Block explorers are online search tools that can be used to find specific pieces of blockchain data. Users can search for block contents, transaction addresses, the network hash rate of a blockchain, and so on. There are various block explorers available for Bitcoin and other altcoins. Users can leverage block explorers to observe blockchain activity in real-time. Miners, for example, can confirm that they have successfully mined a block. In addition, block explorers show how much a miner has earned, what addresses rewards have been sent to, and the number of confirmations associated with a block. Cryptocurrency traders use block explorers to check transaction statuses, track blockchain activity, and obtain market data.

Shilling

Shilling refers to the overpromotion of securities or assets. Shiller's promotes coins and tokens in the cryptocurrency realm in order to enhance the value of their investments. They invariably sell their assets at their greatest worth. Shilling can be done using either actual or fictitious assets. Shiller's utilizes venues such as social media and news websites to generate buzz around assets. Individuals with large audiences, such as celebrities and influencers, boost the price and profile of an item by marketing it. Shilling is primarily a concern for small-cap DeFi (decentralized finance) tokens and altcoins since external influences have a rapid impact on their value.

Huobi Global

Huobi Global is a cryptocurrency exchange that is centralized. Margin reading, trading bots, derivatives, futures, loans, a wallet, and other services are available. It is now one of the most popular exchanges in terms of market volume and capitalization. The Huobi ECO Chain is a blockchain (based on Ethereum) operated by Huobi. The Huobi Token is its native cryptocurrency (HT). Huobi, which was founded in China in 2013, has had difficulties as a result of the Chinese government's anti-cryptocurrency policies. After the Chinese government outlawed Bitcoin exchanges in 2017, Huboi briefly ceased Bitcoin trading. Huobi has now expanded abroad and is now publicly traded in Hong Kong.

Two-way pegs (2WP)

Two-way pegs are the devices that connect main chains to sidechains. Sidechains are used by blockchains to increase scalability and efficiency. A 2WP closes the cash on the main chain while opening the same amount on the sidechain, giving the appearance of a transfer. When a trader relocks the money on the sidechain, it becomes accessible on the main chain again.

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