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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

Initial Coin Offering (ICO)

An initial coin offering (ICO), similar to an initial public offering (IPO) on the stock market, is a procedure through which firms or individuals gather funding to develop new blockchain applications, cryptocurrency, or financial services. It is a type of crowdsourcing in which investors may purchase tokens generated by a corporation. These tokens are used to represent an interest in a company or a future product or service as a potential investment. IPOs often employ "white papers," which outline what is on sale and how the ICO will operate. If the fund criteria are not satisfied and the ICO fails, investors' money is refunded. ICOs, on the other hand, are frequently unregulated, and investors should conduct due research before investing.

Other Important Terms

Dust

The term "dust" refers to relatively small quantities of cryptocurrency. To manage transactions, blockchains such as Bitcoin use the idea of "unspent transaction outputs" (UTXO). UTXO model traders on a blockchain may obtain modest sums of "change" from a transaction. These little amounts of money are not always usable. Users are not permitted to transfer "dust" of a currency if doing so would cost more than the transaction costs specified. However, transaction costs change according on transaction volume, which means that individuals who hold defunct "dust" may be able to trade it at a later date.

Dogelon Mars (ELON)

Following the popularity of Dogecoin and Shiba Inu, Dogelon Mars is one of the numerous dog-themed memecoin ideas to emerge in 2021. Dogelon, on the other hand, has loftier goals than the rest of the group — the project's declared goal is to establish a "space theme-related money" that future space colonists may spend on Mars and beyond. However, as of early 2022, the project's principal token, ELON, has few real-world use cases, and several of the project's aims are plainly intended to be ironic. However, Dogelon Mars' ardent backers may eventually guide the project into other options, earthbound or elsewhere.

Audius (AUDIO)

Audius is a music distribution and discovery platform that is equal parts social media, music marketplace, and decentralized streaming service. It is meant to serve the core operations of the music business in an equitable and inclusive manner that incentivizes artists and fans. Peer-to-peer (P2P) content sales, a reward structure via its native AUDIO token designed to incentivize fan sharing and engagement, an emergent decentralized governance structure that places direct decision-making power in the hands of fans and artists alike, and a multifaceted marketplace are among Audius' numerous features.

Decentralized Network

A decentralized network distributes information-processing information among several devices rather than relying on a single central server. Each of these unique devices serves as a tiny central unit that connects with other nodes on its own. As a result, even if one of the master nodes fails or is compromised, the other servers can continue to offer data access to users, and the whole network may continue to operate with little or no disruption. Recent technological advances have provided PCs and other devices with significant quantities of computing capacity that can be synced up and used for distributed processing, allowing decentralized networks to be realized. While decentralized networks differ greatly from centralized networks, it is critical to note that decentralized networks do not spread data storage and processing over the whole network.

Pseudonymity

Someone who uses a pseudonym operates or communicates in a way that allows them to be recognized, yet their identity conceals who they are. The Rock, whose actual name is Dwyane Johnson, is an example of pseudonymity, as is any other professional who acts under a stage name.

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