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Get Ready to Explore with Cryptalk

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Altcoins

An altcoin refers to a cryptocurrency other than Bitcoin. Each has its own set of rules, properties, and specific use cases. Altcoins could be completely new technologies or forks of existing cryptocurrencies.

Bull Market

A bull market describes the phenomenon where market prices are generally trending upward over a given period and public perception is positive. Everyone except Jim Cramer, he will be negative. 

Bear market

A bear market is the reverse of a bull market, where outlooks are negative as market prices seem to be on a downward trend. Jim Cramer will be positive.

Blockchain

Blockchains are a method of storing data in a decentralized way.  The data can be duplicated and distributed across the network of computer systems on that blockchain. Usually operated by a community of miners or validators, blockchains don’t require a centralized intermediary to operate. 

Block

Blockchains are built up of a growing list of transactions, which are formatted into blocks. Each block contains a cryptographic reference to the last, making it impossible to change the history of the blockchain.

Block reward

When blocks are created by miners or validators, a block reward is issued. This takes the form of newly minted cryptocurrency, which is used as an incentive for participants to help keep the blockchain running.

Consensus

Consensus, in the context of cryptocurrencies, refers to the method by which blockchain participants agree on what should be included into the blockchain. The two most prominent consensus mechanisms currently used by crypto networks today are proof-of-work and proof-of-stake.

Cryptography

Cryptography refers to the science of keeping information secure and safe, and is used in many areas in computing today. Cryptography helps secure blockchains and cryptocurrencies through the SHA-256 one-way hashing algorithm to enable Proof-of-Work, and through private-key/public-key cryptography for authenticating and validating cryptocurrency transfers.

dApp

dApps, or decentralized applications, are programs that run on top of blockchain networks and use smart contracts to provide trustless tools and services for end users. The most widely adopted smart contract platform today is the Ethereum protocol, where hundreds of dApps exist today.

DAO

A DAO, or decentralized autonomous, organization refers to a business entity that is represented as transparent rules in a number of smart contracts. They aim to reduce centralization as much as possible, typically giving the community the ability to govern the future of the DAO and its products by voting for or against any proposed changes or updates.

Decentralized

Decentralized is a word that is used to describe technologies that make use of distributed systems with the aim to provide increased security and redundancy, and to lessen a reliance on governing bodies and centralized intermediaries.

DeFi

DeFi, or Decentralized Finance, refers to the growing ecosystem of applications and services that leverage blockchain tech and cryptocurrencies to provide decentralized financial services to end users. Typically deployed to the Ethereum network, hundreds of DeFi applications exist today that allow users to borrow, lend, and earn interest on cryptocurrencies. DeFi applications are made up of a collection of smart contracts that define the exact process and flow of user funds,...

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