A QUICK LOOK INTO SOME CRYPTO TERMS,ALL FOR THE NEWBIES

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Terminologies are something we cant over look in the study of science, virtually can all areas of science has their terminologies that are associated with each field in science,medicine has their terminologies, engineering has their terminologies even down to education.one importance of terminologies is that it helps in proper understanding of the field,it is a link that serve in the systematic study in labelling concepts that are peculiar to a particular subject field.cryptos being part of the latest development in science and technology has its terminologies that are associated with.so in this context we will be looking at some crypto terminologies because I believe it will help us in understanding cryptos better especially newbie's that are just joining hive.

WHAT ARE ALTERNATIVE COIN
This are also know as altcoins.there are so many cryptos in the crypto industry.all of this cryptos are based on the same technology of blockchain.they have relatively low market cap compare to Bitcoin has the highest market cap among all cryptos.
BLOCK REWARD
Block reward is more or less like the reward the miners receive during their mining activities which are most stored or recorded on the Blockchain
BLOCKCHAIN.
I will so much believe that we all know what Blockchain is,but I will still like to give explanation to this for the sake of those that are new to the crypto world.i will say that Blockchain is the heart of all cryptos because is stores the information needed in the in transaction of every day activities of cryptos.
BITCOIN MAXIMALIST.
A Bitcoin maximalist are the set of people that believe that bitcoin is best or most important crypto.they are Bitcoin enthusiast and believe that no crypto is worthy of Bitcoin in any ramification.
CENTRALIZED CRYPTO EXCHANGE.
This are crypto organizations who activities are basically carried out online.inthis organizations money and cryptos can be traded.so looking at the world centralization,it means that this organizations are been controlled either by a single entity or a group of people.this single entity or group of people have total control over the system.
DAO
This means a decentralized autonomous organization they are usually without central government.it has a free platform which is very transparent set of rules.
DEX
This is more or less like DAO,I can say it's a twin brother DAO.it operate a decentralized system like the DAO,it has no central authority and they are also harness and regulate
FIAT
This more or less like the traditional currency.they are backed by state or country.we mostly use them on daily basis.example are USD , Euro CAD
DEFI
It's a monetary system built on Blockchain,it has no centralized institution involved and the system is decentralized.
DIGITAL ADDRESS
This consist of arrangements of numbers and letters usually from 27- 34 i.e.all address are unique in the sense no two individuals can have the same digital address.they are mostly used in cryptocurrency wallet serving a means to unlock and protect your wallet.
DIGITAL WALLET
This are applications that can store and safeguard your cryptocurrency.they can be make use of either bon mobile phones or PC or any computer.thry are well protected with the use of private keys which are in the form of the digital address.the cold storage wallet are the most secured type of digital wallet.
FOMO
this really has to do with your fear of missing out in a trade that is suppose to profit you more during trading.it is simply fear of missing opportunity.
FUD
Is more like confusion,it stands for fear, uncertainty and doubt.it is a way by which bad news are been spread which is usually aimed at creating mass fear resulting in panic.
HODL
To hold means to hold,many hodlers believe in Bitcoin and tend to be hold it irrespective of the price.they may sell it during crypto bubbles
ICO
This is a way of raising funds,it's usually called initial coin offering.it helps cryptos to raise funds for projects from the public.they are mainly use for fungible token and don't have equal voting rights like the traditional fundraising methods.so it can happen at any time of the year.
BITCOIN TO THE MOON
This is used to describe a situation where by Bitcoin or a crypto has grown to a significant price.some times we often hear Elon musk say that he wants to take dodge to the moon.
PROOF OF STAKE(POS)
This is a consensus alogrithm that allows a user with the highest coin to decide.it gives more power to people with more coin than to those with less coin.the holders of this network tend luck their token most of the time so as to get more reward.
PROOF OF WORK.(POW)
This is a decentralized for m of an original alogrithm.it helps to carry out transactions and also helps to add new blocks to the chain.being a decentralized chain,everybody is free to compete to contribute to the platform unlike its rival proof of stake.
PRIVATE KEYS.
This allows you or gives you access to into your digital address,it helps to protect yourself digital address,it usually a combination of words and letters
PUMP AND DUMP
This is a way of inflating the price of a particular crypto or assets withing a short period of time.after the price inflation then comes mass selling which most of the leads to dumping of the crypto assets.this make the price value to also fall drastically.so a coin is easier to dump if it has slower trading volume.
SATOSHI
This is name after the inventor of Bitcoin Satoshi nakamoto,it is the cent measurement for bitcoin.ons Satoshi is equivalent to 0.00000001 Bitcoin.
SHITCOIN
This is use to refer to coins that does not hold any values.this term is most used by Bitcoin maximalist because they believe that Bitcoin is superior to every other coin both in value and market cap



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This is really educating.. Thanks, I learnt a few things

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