Bitcoins and alternative currencies Flashcards
Adress
A destination where a user sends and receives digital currency. Similar to a bank account
Adresse
Public key that allows you to send or receive cryptocurrency. It’s a long secuence of numbers and letters or a more visual “QR Code”
Altcoin
Digital currency other than bitcoin. An alternative protocol asset, meaning that it follows a protocol (set fo rules) that is different from bitcoin’s
Arbitrage
Taking advantage of the price difference between two differents exchanges
ATH
Abbreviation of “all-time high”. Helpfull to know for tracking the digital currency markets
ATL
At the lowest
Bear / Bearish
“Bears” believe that an asset, for example, a digital currency, will decline in value. Another way of putting this is that if a trader thinks a cryptocurrency will depreciate, their sentiment surrounding the digital asset is “bearish”
Blocks
Many digital currencies make use of blocks, which contain transactions that have been confirmed and then combined together
Blockchain
Is a distributed ledger system that consist of a series of blocks. These blocks contain verified transactions. The blockchain was designed to be not only decentralised, but also immutable, meaning that entries could not be erased once placed on this distributed ledger.
Bull / Bullish
If a trader believes that an asset will rise on value, he or she is a “bull”. When an investor has this optimistic expectation of an asset’s future bull, this frame of mind is described as “bullish”
Consensus
The network for a digital currency reaches consensus when the network’s nodes agree that a transaction took place. Therefore, consensus is crucial to distributed ledger systems
Cryptocurrency
A cryptocurrency is merely a currency that relies on cryptography. Bitcoin, for example, leverages cryptography in order to verify transactions.
Cryptography
The process of encoding and decoding information so that would-be observers are unable to understand the information being send.
DDoS Attack
A distributed denial of service (DDoS) attack take place when multiple parties work together to overwhelm a system by inundating it with either request for information or malicious data.
Distributed Ledger
A system of recording information that is simply distributed, or spread across, many different devices.
