Crypto Glossary
This is a digital ledger where all crypto transactions are made and recorded. A blockchain is a list of records of many blocks of data that are organized in chronological order and are also unalterable.
These are mechanisms that allow cryptocurrencies to be traded in a decentralized manner through the blockchain. In other words, in a computer network without a central authority, the protocols are used to fill the blockchains and validate transactions through their algorithms.
During the initial coin offering operated by a blockchain startup, as part of this process, the crowdsale is an opportunity to sell tokens to investors in order to fund itself
These are digital assets in currencies such as Bitcoin or Ethereum, which use cryptography to conduct secure transactions and control the creation of new currencies.
Or decentralized finance, is the way to trade crypto assets, which do not rely on central bodies or intermediaries such as brokerages, exchanges or banks. Decentralized finance platforms allow all kinds of financial operations to be carried out without the high commissions involved in centralized operations. In 2021, decentralized finance operations amounted to approximately 20.5 billion dollars.
A Cryptocurrency exchange is a platform that allows users to exchange or purchase cryptocurrencies or digital currencies for assets, ranging from credit cards, bank transfers, various digital currencies or cryptocurrencies for a transaction fee that is usually much lower than conventional banking.
It is the virtual wallet or platform where a user stores its cryptocurrencies.
These are wallets that allow users to maintain control and hold the private key to their funds in encrypted storage.
There are three types of non-custodied wallets:
Hardware wallets: They are similar to a pen drive disconnected from the internet.
Web wallets: Or mobile, they work from any device with a private access key.
Desktop wallet: They are installed inside the computer and can be stolen if the computer is lost.
Operations which are performed without going through an intermediary are known as peer to peer or person to person.
Just as in ethereum, most blockchain permanently stores the record of transactions performed on their blockchains. These logs cannot be deleted and are freely accessible.
Without the need to compromise usernames, email addresses or personal data a private key, is the access code to digital property on a blockchain. Each user has a public address and their private key is the access code to control their wallets or assets within the blockchain.
This is known as a consensus protocol that has gained popularity in recent times. Proof of Stake reduces the computational demands of its operation and its power consumption because it eliminates the mining work and adds an element of random betting.
This is the first existing consensus protocol where miners must solve problems to add blocks to validate a transaction. Proof of Work is characterized by its high level of security that makes it almost impossible for hackers to break into the network.
This is a cryptographic key that allows people to access their wallet or NFT publicly and also works in complement with private classes to strengthen the security of an address.
This is a transaction whereby the sender can only know that someone has confirmed it but not who, and can spend the funds unless another signatory approves.
For the creation of a new cryptocurrency, the design of a smart contract is the technical foundation on which it is developed. These are automated programs that are executed at the closing of certain phases of a cryptocurrency, and that guarantee its fulfillment to buyers or investors.
Discipline of economics that deals with the design, operations, trade and regulations with cryptocurrencies.
This is the description by phases and times of the life span of a cryptocurrency from its launch.
