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📘 The words of the day - Crypto glossary #2
Understanding crypto is also about speaking the right language. Here are 7 new essential words to better navigate the crypto ecosystem:
- Token: A digital token issued on a blockchain, often used in specific projects or platforms. Ex: UNI, LINK, MATIC.
- DApp (Decentralized Application): Decentralized application running on a blockchain, without a central authority. Example: Uniswap or Aave.
- Gas Fees: Transaction fees paid to execute an operation on blockchains like Ethereum.
- Halving: A regular event on Bitcoin that halves mining rewards. This often impacts the price of BTC.
- Staking: Locking up your crypto to secure a network (Proof of Stake) and earn passive rewards.
- Liquidity Pool: Reserve of tokens locked in a smart contract to facilitate the exchange of crypto in DeFi.
- Bear Market: Prolonged bearish market where prices decline sustainably. The opposite of a bull market.
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#CryptoLexique #defi #BinanceAcademy #BlockchainÉducation
Understanding crypto is also about speaking the right language. Here are 7 new essential words to better navigate the crypto ecosystem:
- Token: A digital token issued on a blockchain, often used in specific projects or platforms. Ex: UNI, LINK, MATIC.
- DApp (Decentralized Application): Decentralized application running on a blockchain, without a central authority. Example: Uniswap or Aave.
- Gas Fees: Transaction fees paid to execute an operation on blockchains like Ethereum.
- Halving: A regular event on Bitcoin that halves mining rewards. This often impacts the price of BTC.
- Staking: Locking up your crypto to secure a network (Proof of Stake) and earn passive rewards.
- Liquidity Pool: Reserve of tokens locked in a smart contract to facilitate the exchange of crypto in DeFi.
- Bear Market: Prolonged bearish market where prices decline sustainably. The opposite of a bull market.
Want to learn more? Subscribe to discover new words every week and progress in the Web3 universe.
#CryptoLexique #defi #BinanceAcademy #BlockchainÉducation
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📘 Words of the Day – Crypto Glossary #4
- Layer 2
A solution built on top of a main blockchain to improve its speed and reduce transaction fees (e.g., Optimism, Arbitrum).
- Liquidity Pool
A reserve of cryptocurrencies locked in a smart contract to enable exchanges on a DEX without a traditional order book.
- Cross-chain
The ability for different blockchain networks to communicate and exchange assets with each other (e.g., bridges between Ethereum and BNB Chain).
- Algorithmic Stablecoin
A stablecoin whose value is maintained by algorithms and market mechanisms rather than by fiat reserves.
- Impermanent Loss
Potential temporary loss experienced by a liquidity provider on a DEX when the prices of assets change significantly.
- Yield Farming
A strategy consisting of placing funds in DeFi protocols to generate high returns in the form of tokens.
- Rekt
Slang used to refer to a massive loss in crypto investment.
#CryptoEducation #BinanceAcademy #CryptoLexique
- Layer 2
A solution built on top of a main blockchain to improve its speed and reduce transaction fees (e.g., Optimism, Arbitrum).
- Liquidity Pool
A reserve of cryptocurrencies locked in a smart contract to enable exchanges on a DEX without a traditional order book.
- Cross-chain
The ability for different blockchain networks to communicate and exchange assets with each other (e.g., bridges between Ethereum and BNB Chain).
- Algorithmic Stablecoin
A stablecoin whose value is maintained by algorithms and market mechanisms rather than by fiat reserves.
- Impermanent Loss
Potential temporary loss experienced by a liquidity provider on a DEX when the prices of assets change significantly.
- Yield Farming
A strategy consisting of placing funds in DeFi protocols to generate high returns in the form of tokens.
- Rekt
Slang used to refer to a massive loss in crypto investment.
#CryptoEducation #BinanceAcademy #CryptoLexique
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📘 Words of the Day – Crypto Glossary #5
- Hashrate
Measure of the overall computational power of the network. A high hashrate strengthens the security of a blockchain like Bitcoin.
- Cold storage
Storage of cryptocurrencies offline (Ledger key, paper…). Preferred solution for long-term and secure storage.
- ATH (All-Time High)
The historical peak price reached by an asset. A psychological and technical benchmark often scrutinized by traders.
- Whale
Investor (or institution) holding a large quantity of tokens. Their movements can significantly impact the market.
- Dusting attack
Malicious analysis strategy consisting of sending very small amounts of crypto to track and deanonymize a user.
- FOMO (Fear Of Missing Out)
Emotional behavior that drives one to buy an asset out of fear of missing an opportunity. To be handled with caution in volatile markets.
See you tomorrow to continue deciphering the crypto language together.
#cryptoeducation #BinanceAcademy #CryptoLexique
- Hashrate
Measure of the overall computational power of the network. A high hashrate strengthens the security of a blockchain like Bitcoin.
- Cold storage
Storage of cryptocurrencies offline (Ledger key, paper…). Preferred solution for long-term and secure storage.
- ATH (All-Time High)
The historical peak price reached by an asset. A psychological and technical benchmark often scrutinized by traders.
- Whale
Investor (or institution) holding a large quantity of tokens. Their movements can significantly impact the market.
- Dusting attack
Malicious analysis strategy consisting of sending very small amounts of crypto to track and deanonymize a user.
- FOMO (Fear Of Missing Out)
Emotional behavior that drives one to buy an asset out of fear of missing an opportunity. To be handled with caution in volatile markets.
See you tomorrow to continue deciphering the crypto language together.
#cryptoeducation #BinanceAcademy #CryptoLexique
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📘 Words of the Day - Crypto Glossary #3
- DeFi (Decentralized Finance): A set of financial services (loans, savings, trading…) accessible without intermediaries, via blockchain.
- Smart Contract: An autonomous program that automatically executes pre-set conditions on a blockchain (e.g., Ethereum).
- DEX (Decentralized Exchange): A crypto exchange platform without a centralized intermediary. Example: Uniswap, PancakeSwap.
- TVL (Total Value Locked): The total value in cryptocurrencies deposited in a DeFi protocol. It is an indicator of trust and adoption.
- Rug Pull: A scam where the developers of a project disappear with the investors' funds.
- Burn: Intentional destruction of tokens to reduce supply and potentially increase the value of the remaining tokens.
- DAO (Decentralized Autonomous Organization): An organization collectively managed by its members through rules coded on a blockchain. No central management.
Want to learn more? Subscribe to discover new words every week and progress in the Web3 universe.
#CryptoLexique #defi #BinanceAcademy
- DeFi (Decentralized Finance): A set of financial services (loans, savings, trading…) accessible without intermediaries, via blockchain.
- Smart Contract: An autonomous program that automatically executes pre-set conditions on a blockchain (e.g., Ethereum).
- DEX (Decentralized Exchange): A crypto exchange platform without a centralized intermediary. Example: Uniswap, PancakeSwap.
- TVL (Total Value Locked): The total value in cryptocurrencies deposited in a DeFi protocol. It is an indicator of trust and adoption.
- Rug Pull: A scam where the developers of a project disappear with the investors' funds.
- Burn: Intentional destruction of tokens to reduce supply and potentially increase the value of the remaining tokens.
- DAO (Decentralized Autonomous Organization): An organization collectively managed by its members through rules coded on a blockchain. No central management.
Want to learn more? Subscribe to discover new words every week and progress in the Web3 universe.
#CryptoLexique #defi #BinanceAcademy
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