The best 50 blockchain pro words to share to help you get started early.

Below are some of the common terms and phrases used in the cryptocurrency and blockchain communities

1. HODL: A misspelling of "hold" that has come to mean "Hold On for Dear Life" in the cryptocurrency community. It signifies a long-term strategy to retain a particular cryptocurrency, irrespective of market trends.

2. FOMO: Fear of Missing Out, the compulsive concern that one might miss a lucrative opportunity. This feeling often drives rapid purchases or holdings of certain cryptocurrencies.

3. FUD: Fear, Uncertainty, Doubt, refers to the spreading of misleading information to depreciate the value of a certain currency.

4. BUIDL: A play on HODL, encourages continual development and construction of blockchain projects rather than mere speculation.

5. Mooning: Indicates a situation when the price of a cryptocurrency is experiencing a strong upward trend, sometimes to the point of reaching extreme highs.

6. Pump and Dump: This refers to the inflation of a coin's value by investors who then sell off the coin at its peak, exploiting speculative trends for profit.

7. Whale: A term for individuals or entities that hold large amounts of cryptocurrencies, whose trading behavior can influence market prices.

8. DYOR: Do Your Own Research. It encourages investors to do independent research before making investment decisions.

9. DeFi: Decentralized Finance is a novel financial system built on public blockchains that aims to create an open, transparent, and permissionless network of financial services.

10. ICO: Initial Coin Offering is a method for new cryptocurrency projects to raise public funds.

11. Token: In a blockchain network, a token represents a digital certificate for certain assets or rights.

12. PoW: Proof of Work, a blockchain consensus mechanism that requires network participants to solve mathematical problems to prove their work.

13. PoS: Proof of Stake, a blockchain consensus mechanism that requires network participants to hold and lock a certain amount of cryptocurrency to prove their stake.

14. Dapp: Decentralized Application, an application that runs on a blockchain network without a centralized administrator or service provider.

15. Sharding: A method of distributing the workload of a blockchain network across multiple subnetworks (shards) to improve overall performance and scalability.

16. Gas: On the Ethereum network, the fee required to execute a transaction or smart contract, a subunit of Ether.

17. Mainnet: The primary public network for a blockchain protocol, as opposed to a test network.

18. Wallet: An application for storing and managing a user's cryptocurrencies.

19. Smart Contract: Code that automatically executes contract terms, without human intervention.

20. DAO: Decentralized Autonomous Organization, a self-managing organization controlled by smart contracts.

21. Layer 2: A solution designed to improve the speed and efficiency of a blockchain protocol by building an additional layer on top of it.

22. ATH: All-Time High, refers to the highest price point ever reached by a particular cryptocurrency.

23. Satoshi: The smallest unit of Bitcoin, named after Bitcoin's creator, Satoshi Nakamoto.

24. Bullish: A positive, optimistic expectation that the price of a cryptocurrency will rise.

25. Bearish: A negative, pessimistic expectation that the price of a cryptocurrency will fall.

26. Altcoin: Any cryptocurrency other than Bitcoin.

27. REKT: A misspelling of "wrecked," used to describe a significant decrease in the value of an individual's investment portfolio in the cryptocurrency market.

28. Dust: In cryptocurrency trading, dust refers to an extremely small amount of a certain cryptocurrency that it barely has any value.

29. Bag Holder: An investor who holds a large amount of a cryptocurrency that has decreased significantly in value.

30. Lambo: Short for Lamborghini

, it represents the luxurious life one could attain from successful cryptocurrency investments.

31. Faucet: An online application that distributes small amounts of a cryptocurrency for free, usually to promote new or small projects.

32. Hash: A cryptographic algorithm that transforms any amount of data input into a fixed-length output. For the same input, it will always produce the same output, while for different inputs, it will almost always produce different outputs.

33. Peer to Peer (P2P): A decentralized interaction that allows direct interaction between nodes in a network without a middleman.

34. Testnet: A blockchain network used for testing new features or identifying network errors.

35. 51% Attack: A situation where an individual or organization controls more than 50% of a network's hash rate (or computational power) and can carry out fraudulent transactions and attacks on the network.

36. White Paper: An official document of a blockchain project, providing detailed explanations about a project's technical specifications, system architecture, project objectives, etc.

37. Hard Fork: A split in a blockchain resulting in two separate chains, requiring an upgrade and the reaching of a new consensus rule.

38. Soft Fork: In contrast to a hard fork, a soft fork is backward-compatible and only requires some nodes to upgrade.

39. SegWit: Segregated Witness, a protocol upgrade for Bitcoin designed to increase the block's transaction capacity and fix the transaction malleability problem.

40. Lightning Network: A solution for enabling fast, high-volume transactions on the Bitcoin network.

41. KYC: Know Your Customer, a process used by financial institutions to identify their customers.

42. AML: Anti-Money Laundering, measures to prevent illegal activities through the financial system.

43. ERC-20: A standard on Ethereum for issuing and trading tokens.

44. NFT: Non-Fungible Token, a unique token that cannot be directly replaced with other tokens.

45. DEX: Decentralized Exchange, an exchange where users can trade directly without a middleman.

46. Oracle: On the blockchain, an oracle is a third-party service that provides external data.

47. Yield Farming: A strategy of providing funds in DeFi products to earn returns.

48. CEX: Centralized Exchange, an exchange operated by a centralized entity.

49. Stablecoin: A type of cryptocurrency pegged to other assets (such as USD, gold, etc.) to minimize price volatility.

50. LP: Liquidity Provider, a user or entity providing funds for a decentralized exchange.
Coinmarketcap
Forward this article