Cryptocurrency glossary #
Here you can familiarize yourself with the basic terminology of the world of cryptocurrencies.
Airdrop is a free distribution of tokens or NFTs to project participants who fulfill specified conditions.
Alcoin is any cryptocurrency other than Bitcoin.
Bitcoin is the first cryptocurrency created.
Blockchain is essentially a huge database that stores your digital assets and all the data about transactions with them. Cryptographic encryption is used to protect data
CEX is a centralized exchange. Mandatory KYC (know your customer) verification. And there you need a verification document from your country of residence. Anonymity is excluded.
Cryptocurrency is a type of digital asset for mutual settlements on the Internet, which has its own blockchain. Often they have no security and are not backed up by anything.
DEX - decentralized exchanges. Allows you to trade anonymously, without verification.
Fiat is a currency whose value is backed by some state (dollar, ruble, hryvnia, yen, etc.)
Gas (gwei) #
Gas is the number of computational operations required to complete a transaction. These transactions are charged in cryptocurrency. In simple terms, this is a commission for performing an operation.
Listing is the admission of a cryptocurrency or token to a specific exchange. Various trading pairs are created with this cryptocurrency on the exchange and it becomes available for trading.
NFT (non-fungible token) #
An NFT is a non-fungible token, a special type of token that can be used to digitize a product or item: a picture, a song, a video, and so on. In fact, this is a digital certificate that confirms the unique and exclusive right of ownership of any digital asset.
P2P is trading between two people registered in the system, bypassing the general market. Roughly speaking, you transfer money to a person’s card (or online wallet), and he transfers cryptocurrency to your wallet. In this case, the exchange acts as an intermediary to eliminate fraud.
A secret recovery phrase (mnemonic phrase or seed phrase) is 12 or more words that are a kind of password when restoring a cryptocurrency wallet. Generated by the system when registering a wallet. Without this phrase, it is impossible to restore access to a lost wallet.
Spot balance (spot) is the amount of various cryptocurrencies available for calculations in your wallet.
A stablecoin is a cryptocurrency (token) that is backed by some asset - fiat currency, cryptocurrency, bonds, shares or some other commodity. Can be provided either 100% or partially.
Staking is a type of cryptocurrency storage in which you receive% of your cryptocurrency amount. Simply put, a cryptocurrency deposit. Staking can be with or without a fixed period, with or without early closure. Everything is like regular bank deposits. The cryptocurrency that you staked is not available for withdrawal or sale until the staking pool is closed.
A token is a type of digital asset that does not have its own blockchain and is created on the basis of the blockchain of another cryptocurrency. As in our case, the gaming token CL (clonero) will be created on the basis of the Solana cryptocurrency blockchain.
Vesting is the distribution of tokens in accordance with a certain time frame. This strategy avoids manipulation of the token price and promotes the opening of trades with a fair price. Vesting aligns the common interests of all token holders with the long-term vision of the entire project team.