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  • Crypto assets glossary

    A glossary of terms common in crypto.

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    A–E

    Airdrop

    Airdrops are a marketing tool that distribute crypto assets through a group of people to build their use and popularity.

    Block

    A block is a group of transaction records grouped together. At regular intervals a new block is added to the chain.

    Blockchain

    A blockchain is a record of all transactions, made up of blocks, of a particular crypto asset. A blockchain is a form of digital ledger.

    Chain split

    A chain split occurs where there are two or more competing versions of a crypto asset blockchain. The core rules of the new chain develop independently to those of the original chain.

    Chain swap

    A chain swap is a process that allows the movement of crypto assets from one blockchain to another.

    Crypto

    Crypto is shorthand for (or an abbreviation of) crypto asset.

    Crypto asset

    Crypto assets are a form of digital asset that include cryptocurrencies, digital or virtual currencies, virtual assets and non-fungible tokens that use cryptography to secure transactions and don't rely on a financial intermediary.

    F–L

    Digital ledger

    A digital ledger is a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time.

    Digital wallet

    A digital wallet is on online or software-based place to store your private keys.

    Forger

    A forger (similar to a miner) is someone who validates transactions and creates new blocks in a proof of stake system.

    Hardware wallet

    A hardware wallet is a secure physical device which stores the user's private keys.

    M–S

    Non-fungible token

    A non-fungible token is a digital file or asset stored on a digital ledger where each token is unique and not interchangeable.

    Payment gateway

    A crypto payment gateway is a payment processor for digital assets.

    Private key

    A private key is similar to a password and allows you to transact with your crypto assets.

    Smart contract

    A smart contract is a computer program that facilitates, verifies, or enforces defined rules on the blockchain.

    Stablecoin

    A stablecoin is a cryptocurrency that pegs its value to some other asset, generally a non-digital currency or commodity.

    Staking

    Staking can involve locking your existing crypto assets to validate transactions on the blockchain and create new blocks.

    Staking may also refer to other activities that involve pledging your crypto assets to generate a passive return (or yield).

    T–Z

    Token

    A token is a unit of value on a blockchain that usually has some other value proposition besides just a transfer of value.

    Wrapping

    Wrapping is the process of creating a wrapped token. It typically involves interactions with a smart contract.

    Wrapped tokens

    A wrapped token is a tokenised version of another crypto asset, which mirrors the value of the original crypto asset it represents.

    Last modified: 29 Jun 2022QC 69956