Glossary & Vocab
Crypto Education starts here
Limits big players (whales or malicious developers) to dump or pump huge amounts of their tokens by setting a maximum sell/buy limit.
BEP-20 (BSC Protocol)
BEP20 is a Binance token standard which allows users to deploy fungible tokens or cryptocurrencies on BSC. Created with the intention of extending ERC-20. BEP-20 is a blueprint as to how a token can be spent, who can spend it, and it even has rules about its overall usage.
Blocks are data structures within the blockchain database, where transaction data in a cryptocurrency blockchain are permanently recorded.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack, or cheat the system.
"Burning" a cryptocurrency refers to the act of sending a token to an account that can only receive them. Cryptocurrency tokens or coins are considered “burned” when they have been purposely and permanently removed from circulation.
A coin is a cryptocurrency that has it's own native blockchain.
Decentralized application (dApp)
A decentralized application is an application that can operate autonomously, typically through the use of smart contracts, that runs on a decentralized computing, blockchain system. Like traditional applications, DApps provide some function or utility to its users.
A deflationary cryptocurrency is one with a depreciating supply of coins. In other words, the number of coins in circulation decreases, making an individual coin more valuable.
Decentralized Exchange (DEX)
A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto’s core possibilities: fostering financial transactions that aren’t officiated by banks, brokers, or any other intermediary.
Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks by using smart contracts on a blockchain.
Drop shipping is the method of shipping an order directly from a manufacturer to a customer's home, without the retailer holding any inventory.
DYOR (Do your own Research)
Do your own due diligence into a project before investing.
Gwei is a term for a very small amount of the Ethereum cryptocurrency and is commonly used when discussing transaction fees on the Ethereum network. One Gwei is equal to 0.000000001 ETH.
Proof of Authority (PoA)
A blockchain consensus mechanism that delivers comparatively fast transactions using identity as a stake. PoA provides high performance and fault tolerance.
Delegated Proof of Stake (dPOS)
dPOS is a type of blockchain consensus protocol that allows users to spend their coins to vote for various delegates. Once these delegates have been elected, they're able to make critical decisions that apply to the whole network. In a PoS mechanism, there is no mining at all.
Proof of Stake Authority (PoSA)
PoSA consensus algorithm is a hybrid between the PoA and dPOS consensus mechanism. The BSC is a blockchain that uses this PoSA consensus algorithm.
Slippage happens when traders have to settle for a different price than what they initially requested due to a price movement or tax system within the contract.
Smart contracts are digital agreements that automatically execute transactions between parties, increasing speed, accuracy, and integrity in payment and performance.
A token is a cryptocurrency that does not have it's own native blockchain.
Total Value Locked (TVL)
Тotal value locked represents the number of assets that are currently being staked in a specific protocol.
A term used to describe investors who have uncommonly large amounts of crypto, especially those with enough funds to manipulate the market.