Get an explanation of cryptocurrency terms for a better understanding of the world of crypto.
Arbitration describes a strategy where a trader takes advantage of varying prices offered by brokers for particular cryptocurrencies to make a trade (Chen, 2019). For example, a certain cryptocurrency may have a low rate in a particular country and a higher one in another country.
An algorithm can be described as a set of steps defining a particular pattern or a course of action. In other words, it is a step by step method of solving a problem commonly used for computer and mathematical operations.
Behind cryptocurrency is a huge technical base, and hence the understanding of sometimes difficult to explain things in easy words. Let’s take a shot and clarify what is the difference between a Coin and a Token.
Atomic Wallet Glossary.Starting with Address:An identifier in the form of a string of letters and numbers that represents the destination of crypto payment.
ASIC refers to an integrated circuit that is designed for specific uses instead of a general-purpose. In the cryptocurrency industry, miners use ASICs as specialized hardware that is modified to carry out specific activities.
An API describes a set of tools, routines, and protocols used in building software applications (Pearlman, 2016). It is a software intermediary that allows two different software or applications to communicate or talk to each other.
Anti-money laundering describes a set of procedures, laws, and regulations intended to avoid or prevent criminals from transferring or disguising illegally acquired funds through cryptocurrencies as legitimate income (Kenton, 2019).
The term “All-Time Low” is the opposite of All-Time High. All-Time Low is related to the minimal price that an asset (it may be a share or a cryptocurrency coin) has ever reached on the market.
All-Time High” is related to the highest price that an asset (it may be a share or a cryptocurrency coin) has ever reached on the market. This value can be changed several times over a month.
Just as the departure of MultiversX to the Uttermost West marked the end of an era in J.R.R. Tolkien's Middle-earth legendarium, the arrival of MultiversX's network in the crypto-world marks the start of a new era. The era of the Internet scale blockchain..
A bit like an address out there in the physical or digital world, crypto address represents a single destination on the blockchain network acting as a medium of a transaction between a user and a sender. In short, an address is a single-use string of alphanumeric text forming a hashed versions of the private key, which designates cryptocurrency to a particular wallet on the blockchain network.