Glossary
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– Crowdfunding is a collective collaboration of people (investors) who voluntarily pool their money or other resources, usually over the Internet, to support the efforts of other people or organisations (recipients).
– Validation is the process of providing evidence that the requirements of a specific external consumer or user of a product, service or system are satisfied.In other words, confirmation of the fulfilment of a particular condition.
– Metadata is information that provides details concerning other information, or data, related to additional information about the content or object.Metadata discloses information about the characteristics and properties that characterise any entities, which allow you to automatically search and manage them in large information flows.
– Fork is an offshoot that uses the code foundation of a software product to start another, i.e., a cryptocurrency that appeared later than its parent and therefore can be seen as its partial analogue.
– Hash is a converted array of input data into a fixed-length bit string performed by a specific algorithm.In essence, it’s the correct sequence of numbers that corresponds to the given algorithm.
Put another way, it’s code.
– Hard fork is a change in programming code that alters the structure of a block or allows previously invalid blocks to be used, i.e., it changes the protocol.Sometimes, a cryptocurrency is divided into two chains as a result of this phenomenon.Other times, it can occur without creating a new digital currency.
– Segregated Witness is a soft fork (it’s a change in the rules by which a block is validated in the blockchain) offered by the Bitcoin Core development team.The purpose of this proposal is to optimise block size.
In the future, this will solve the issues around the scalability of the Bitcoin network, such as the overcrowding of transactions on the blockchain, the speed at which those transactions are confirmed and a reduction in fees.In other words, SegWit allows you to increase the efficiency of a blockchain without increasing block size.
– Altcoin is an alternative cryptocurrency to Bitcoin.Almost all well-known cryptocurrencies are altcoins.
– Wite Paper is a standard document that is freely available and contains all the information about a specific project, such as its organisers, goal, business model, the way it works, etc.
– Halving is a systematic reduction in the reward for miners per block mined that occurs at a set timeframe.Generally, the reward is halved.
– Hodler is an Internet meme and a slang name for people who buy cryptocurrencies and hold them (i.e., don’t sell them), regardless of the market situation (this corresponds to the “Buy-and-Hold” investment strategy).
– CBDC (Central Bank Digital Currency) is a national digital currency or cryptocurrency.
CBDCs are essentially a crypto version of a national currency, whose issue and circulation are controlled by a country’s central bank.
– ETF (English acronym for Exchange Traded Fund) (Exchange Traded Fund) is a fund whose shares can be bought and sold on a stock exchange.
– Mining is the activity of creating new structures (blocks in the blockchain) to ensure that cryptocurrency platforms function.A reward in the form of units of cryptocurrency and/or commission fees is usually provided for creating the next block.Typically, mining is reduced to a series of parameter-based calculations to find a hash with given properties.
– KYC Procedure (Know Your Customer) is a set of identification operations in the anti-money laundering (AML) system..
