CRYPTO CURRENCY DICTIONARY

TERMS COMMONLY USED IN THE WORLD OF BLOCKCHAIN AND CRYPTOCURRENCY

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Programmable Payments

Programmable payments are automated payments generated by smart contracts or other blockchain-based technologies. They are an innovative trend to transmit money that provides functional benefits, enables new procedures, and supports new business models.

Other Important Terms

Airdrop

An airdrop is a method of distributing coins. End users can typically obtain coins for free or in exchange for doing a small task, such as subscribing to a newsletter, sending a tweet, or inviting others via a personal affiliate link. Cryptocurrency airdrops — the act of depositing cryptocurrency into public crypto wallets — are utilized as a marketing, liquidity creation, and network bootstrapping technique for many different types of blockchain initiatives.

Litecoin

Litecoin is a well-known cryptocurrency. When it was first released in 2011, its inventors hoped to build a creative, fair, and secure money that could serve as the "silver to Bitcoin's gold." Litecoin, like Bitcoin, employs the Proof of Work consensus process. Litecoin, on the other hand, has faster transactions and a greater currency generation rate than Bitcoin. Litecoin has the most comprehensive Scrypt-based blockchain in the world and is now one of the top twenty most valuable cryptocurrencies in terms of market value.

Paper Wallet

Paper wallets are the simplest form of crypto wallets that are used extensively in the crypto domain. A paper wallet is a printed piece of paper containing your private keys and QR codes for conducting your crypto transactions. Paper wallets are the cheapest way to secure your private keys offline. With the increased popularity and better features of hardware wallets, paper wallets are losing their charm.

Tokenomics

Tokenomics is a combination of the words "token" and "economics," and it relates to the study of digital assets, namely cryptocurrencies, and their value. Tokenomics is a broad topic. It includes researching token producers, token allocation and distribution mechanisms, market capitalization, business models, legality, and how tokens work within the larger economic ecosystem. Tokenomics is a component of the due diligence process that investors and traders go through before purchasing crypto tokens or participating in initial coin offerings.

Metaverse

A metaverse is a shared, immersive virtual environment in which people, often represented by avatars, may interact with one another, build experiences, and create in-world items and landscapes. Users can purchase, sell, and trade digital real estate, products, avatar accessories, and other objects in metaverses, which often have their own intrinsic economies and currencies. The metaverse can be accessed by a computer, virtual reality (VR) headset, or smartphone. A crypto metaverse, in particular, is a metaverse that uses blockchain as its underlying technology and crypto assets, such as metaverse tokens, in its economy. Decentraland, Cryptovoxels, Alien Worlds, Axie Infinity, and The Sandbox are examples of crypto metaverses and protocols that integrate metaverse aspects. While metaverse-like worlds have existed for some time in massively multiplayer online games, the inclusion of the blockchain, cryptocurrency and virtual reality (VR) into the industry is not only changing who may engage and what they can accomplish, but it is also illustrating the real-world market worth of assets, interactions, and experiences obtained in the digital realms of blockchain games.

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