CryptoURANUS Economics: 08/09/18

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Thursday, August 9, 2018

Sharding: Defined in CryptoCurrency

Sharding: Defined in CryptoCurrency


Sharding is defined as a smaller pieces of a whole. In technology, sharding is a small part of a large computer program that is quicker and more manageable to run.


Shard comes from an Old English word that meant, “to cut” and in present time, a shard is a small piece of a bigger whole. By sharding a massive computer program, you can reduce the computer requirements and make a large program more manageable. 


In other words, with sharding, smaller portable computers can run what used to require a larger, more powerful, and expensive computer.

In blockchain technology, the files are often over 100 gigabytes in size and growing. 

Using sharding, the huge blockchain program is split up and shared by the network of thousands of computers.

Segregated Witness: Defined in CryptoCurrency

Segregated Witness: Defined in CryptoCurrency


Segregated witness is a technology that moves some information recorded into the bitcoin system known as the blockchain into a separate recording. When someone sends bitcoin to another, the technology must verify that the sender has enough in his account. 


Once the technology verifies this, it “signs” the recording (block) as a witness. Each bitcoin recording is limited to 1 megabyte (MB) in size and new recordings are made every 10 minutes. Because the signature takes up a lot of space in the recording, relocating it to a different recording, also known as segregating, will allow man

Security Token Offering [STO]: Defined in CryptoCurrency

Security Token Offering [STO]: Defined in CryptoCurrency


A Security Token Offering (STO), is defined as a way for investors to use their money to support a new cryptocurrency project in a way that US Securities and Exchange Commission (SEC) will approve. 


Originally, investors would participate in an Initial Coin or Token Offering (ICO/ITO) and in return received some crypto. The hope was that the team would develop something valuable with the money.  

The problem is, in the near future, ICOs and ITOs may not comply with American SEC laws. That means some cryptocurrencies who have already had an ICO or ITO may have future regulation and penalties applied.

However, an STO complies with many of the rules and regulations expected to be used in the cryptocurrency space.

A security is an investment that is backed by real-world value. In other words, it represents something actually valuable.

  • A security could represent a tiny ownership of a company (like a stock).
  • A security could represent money a government or company borrowed and promises to pay you back (like a bond).
  • A security could also represent ownership of some other asset, profit, or revenue. An STO uses this model.

To invest in an STO, you must be an accredited investor. As an individual that means you must meet one of these two requirements:

  • A single individual needs an income of at least $200,000 or a couple with at least $150,000 for the last two years and expect to earn the same or greater this year.
  • Net worth of over $1,000,000 excluding the value of your primary home.

Secure Hash Algorithm 256 [SHA 256]: Defined in CryptoCurrency

Secure Hash Algorithm 256 [SHA 256]: Defined in CryptoCurrency




The Secure Hash Algorithm 256 or SHA 256 for short, is defined as one of the most secure ways to protect digital information.  A hash is as a computer program that takes information and turns it into letters and numbers of a certain length. 


Hashing is used to make storing and finding information quicker because hashes are usually shorter and easier to find. Hashes also make information unreadable and so the original data becomes a secret.


For example, “I like bitcoin” can be hashed and will equal: ad3e58f21b94f32dcadca6b71df4c31a18179f38011551a17a80d0ff065d22c5

If I were to capitalize the “b” in bitcoin, so it says, “I like Bitcoin” the hash will be completely different: d988ca30eaa88c0410ad6e48a5297c0d505dcee572f9884f1a6fa2cbc8dedc86 The number of possible combinations of letters and numbers produced by SHA 256 exceeds the number grains of sand on Eart

Securities and Exchange Commission [SEC]: Defined in CryptoCurrency

Securities and Exchange Commission [SEC]: Defined in CryptoCurrency



The Securities and Exchange Commission or SEC is an American government organization responsible for protecting investors, maintaining fair and organized investment markets.



The SEC requires most organizations with investment opportunities register providing information on their business and customers. It also creates laws and requirements that organizations and investors must follow.

Scammer: Defined in CryptoCurrency

Scammer: Defined in CryptoCurrency




A scammer is defined as someone who tricks people into sending money, sharing private information or transmitting something else of value.



Scammers use illegal or immoral methods to tricks their victims into sending them money (think African prince on Craigslist) or into sharing information (like a fake Coinbase email) or sending other valuables.




Scammers have existed since the beginning of time, but with Internet and the ability to hide your identity, you must raise your awareness and be certain you are in a trustworthy online environment.

Scamcoin: Defined in CryptoCurrency

Scamcoin: Defined in CryptoCurrency

 

Scamcoin is a fake cryptocurrency created to make money for the creator while stealing it from those who supported and invested in the coin.

Satoshi: Defined in CryptoCurrency

Satoshi: Defined in CryptoCurrency


Satoshi Nakamoto is the founder and creator of bitcoin, the most popular cryptocurrency. The smallest amount of bitcoin (0.00000001) was also named after him, it is called a Satoshi.



This tiny amount of bitcoin is one hundred-millionth of a bitcoin. That’s 7 zeros before the number 1!



Satoshi Nakamoto is an unknown person or group of people who created bitcoin in 2009. Very little is known about Satoshi. In an online profile he claims to be a Japanese man born in 1975, but all of his software and online conversations are in perfect English.

Run: Defined in CryptoCurrency

Run: Defined in CryptoCurrency


A run is a continued change of prices, either or up or down, for any type of asset. 


You may hear the phrase “bull run” which is an upward price trend or “bear run” which is a downward price trend.

Roadmap: Defined in CryptoCurrency

Roadmap: Defined in CryptoCurrency


A roadmap is a plan with estimated completion dates that show what an organization wants to achieve in the long term.


Looking at a roadmap gives you an understanding of what the organization wants to provide to its customers and what it wants to become.

Return on Investment [ROI]: Defined in CryptoCurrency

Return on Investment [ROI]: Defined in CryptoCurrency


Return on Investment or ROI is a percentage used to measure how profitable an investment is. ROI measures the profit on an investment in relation to the amount put in.

Resistance & Support Levels: Defined in CryptoCurrency

Resistance & Support Levels: Defined in CryptoCurrency


Resistance and support levels are defined as price points or ranges of an asset (stock, crypto, etc.) that are rarely passed over (resistance) or under (support).



A resistance level is a value that you can expect a cryptocurrency to stay above. A support level is a value that you can expect a cryptocurrency to stay below. Both levels can be found by looking at a price chart.


Both resistance and support levels often happen at or near even numbers like: $10, $50, $1,000, but it can happen at any price.

Resistance and support levels often occur because of supply and demand. A resistance level means that at that range, demand from buyers became weaker and/or the supply from sellers increased. A support level means that demand from buyers grew stronger and/or the supply from sellers weakened.

Remittance: Defined in CryptoCurrency

Remittance: Defined in CryptoCurrency


Remittance is defined as an amount of money sent to pay for something.

There is a lot of money to be made from sending money from one person or organization to another, especially global money transfer. Currently, many people are involved in an international money transfer. 


Cryptocurrencies aim to remove those people and organizations like banks from the remittance process reducing costs and transfer tim

Rekt: Defined in CryptoCurrency

Rekt: Defined in CryptoCurrency


Rekt is defined as completely destroyed and ruined. It is a misspelling of “wrecked”.



Rekt is an online gaming phrase which meant someone was severely beaten by an opponent. In cryptocurrency, rekt is typically used when a person loses a lot of money.

Regulation: Defined in CryptoCurrency

Regulation: Defined in CryptoCurrency




Regulation is defined as rules and laws set up by the government to control an activity and enforce it with penalties.


When speaking about regulation around crypto, it usually means users must first provide information, meet the financial requirements and get some form a license before they can participate.

Regulated: Defined in CryptoCurrency

Regulated: Defined in CryptoCurrency

 

Regulated describes something that is controlled and managed according to rules. Car companies must follow pollution regulations when designing and building cars.

Reddit Crypto Forums: Defined in CryptoCurrency

Reddit Crypto Forums: Defined in CryptoCurrency



Reddit defines itself as the front page of the Internet. It is a website made up of millions of users who also submit links and content about anything and discuss it. 



Reddit became very popular for the cryptocurrency and blockchain space as a meeting ground for experts and newcomers. You will find the latest articles, cryptocurrencies, technology and often really bad investment advice.


Reddit is a popular tool for people looking to research a new cryptocurrency.

Raiden Network: Defined in CryptoCurrency

Raiden Network: Defined in CryptoCurrency

 

The Raiden Network is technology that allows near-instant and low fee transactions of cryptocurrencies using ethereum’s technology. 

 

With cryptocurrencies like ethereum, it can take an average of 15-30 seconds for your transaction to be registered in the digital recording known as the blockchain. The Raiden Network will make those transactions instant.

QR Code: Defined in CryptoCurrency

QR Code: Defined in CryptoCurrency

 

A QR code is defined as the name for a type of barcode in the shape of a square. These barcodes can be scanned by smartphones and will display information. 


QR stands for “Quick Response” and the phrase “QR code” is actually registered with the US government as a trademark by DENSO WAVE INCORPORATED.


These barcodes are a scannable box that provide fast access to things like a website, contact data, etc. For cryptocurrencies, QR codes are a quick way to enter a public address so cryptocurrency can be sent.

Pump and Dump: Defined in CryptoCurrency

Pump and Dump: Defined in CryptoCurrency

 

A pump and dump is defined as an illegal manipulation of an asset (stock, crypto, etc.) where people increase the price (the pump) so that they can sell it at those high prices for a profit (the dump). 


The person creating the pump and dump must first get some of the asset. Then they convince others to buy the asset using exaggerated or fake news causing the price to rise. At that point, they sell what they own. With no one promoting the asset, prices drop and many people are left with worthless assets and wasted money.


“Pump and dump” is often used in the crypto space to mean sharing news in forums and chat groups to encourage people to buy a crypto. As more people begin buying, the price rises and sellers can get rid of their coins to these new buyers at a profit. Because the US Securities and Exchange Commission is not yet regulating the crypto space, pump and dumps are common.

Public-Key

Public-Key:
Defined CryptoCurrency


The Public-Key: Defined CryptoCurrency as a Public-Key used as the basis for the user address.

Each Public-Key corresponds to a specific Private Key.

hich can be used to spend the funds associated to the corresponding Public-Key or address. A Public-Key can be calculated from a Private-Key, but it is not possible to calculate a Private-Key from a Public-Key.

The Trezor Wallet does not show raw Public-Keys to users, as addresses are used to send and receive transactions.

It is possible to view Account Public-Keys (XPUBs). These must never be shared with anyone but yourself as this often-time results in all transaction information being exposed and potential theft of funds.

An Account Public-Keys (XPUBs) is a cryptographic code allowing user(s) to receive cryptocurrencies into that person's account.

The Public-Key coupled with the private key are tools required ensuring cryptographic security of  this crypto economics.



XPUB is a master Public-Key used to generate all addresses for an account in a hierarchical deterministic wallet (both already used and unused). As the XPUB key is a Public-Key, it does not allow people to spend funds, but it does make it possible to listen in on all the transactions and balances connected to it.

XPUB and Trezor

As Trezor is an HD wallet, it uses XPUB to generate all the public addresses for a given wallet. To learn how to display account private keys in Trezor Wallet, see Displaying account public key (XPUB).

The XPUB can be used to generate a watch-only wallet in certain third-party wallets and services. For more information.

Public-Key -vs- Public-Key Hash

Hashing is using a hash function on data in order to produce a hash output. Examples of popular hash functions are SHA-256, MD5, RIPEMD-160. Address is an Public-Key hash of Public-Key and the main reason that these are used is probably that they are shorter and more convenient to use.
Like Trezor? Get one here!


Public-Key is defined as a string of letters and numbers that allows cryptocurrency to be received.


Though it’s called a “Public-Key”, it isn’t publicly visible until you’ve shared it or sent money out. And while it can be used to receive money, it isn’t the safe to use.



A safer and more secure way to receive money is to use your public address.

Compare this with a private key which is known only by you and is used to spend your cryptocurrency.

Pseudonymous: Defined in CryptoCurrency

Pseudonymous: Defined in CryptoCurrency


Pseudonymous means acting or done under a false name. Pseudo comes from the Greek word meaning “false”. 


Bitcoin is pseudonymous because you and your account are recognized by a string of letters and numbers known as your address. 


Under some circumstances your address can be linked with your identity making bitcoin not 100% anonymous.

Private-Key

Private-Key: 
Defined in Cryptocurrency

A Private-Key is a randomly generated secret number that must only be known to the owner of the associated address, and no-one else.

Private-keys are contained in a wallet and are mathematically linked to the corresponding public-keys.

A Private-Key can be used to spend the funds that are associated with a specific address and should always be kept private.

Publicly sharing a Private-Key will result in a loss of funds; -i.e. most likely theft.


Private-Key are generated locally on your Trezor-device and never leave the device.

The Private-Key is defined as a string of letters and numbers known only by the owner that is used to spend cryptocurrency.

NEVER SHARE your Private-Key with anyone unless you want someone else to be able to theft, and-or own all of your money!


Your Private-Key is your most prized possession as your password is to access your cryptocurrency account(s) and must always be in private.

Compare a Private-Key with a Public-Key and address:
Your Public-Key is rarely ever used, but you can use it to receive cryptocurrency in trust.

Your address is a safer version of your Public-Key and is what you should use to receive money.

Private-Key for Trezor devices are generated based on a recovery-seed and (optional) passphrase.

In addition to creating and signing transactions, Private-Key can be used in the Trezor-Wallet to sign messages from a specific address to prove ownership of that address.

See also Account private key

Like Trezor? Get one here!

Privacy Coin: Defined in CryptoCurrency

Privacy Coin: Defined in CryptoCurrency

 

A privacy coin is defined as a cryptocurrency that hides data about its users. At a minimum, privacy coins hide identities. But they also often hide the amount of crypto traded and held in wallets.


Bitcoin is not a true privacy coin. Bitcoin users are identified by their public address and computer programs exist which can, in time, link those addresses to actual identities.


 Bitcoin transactions and wallets are also publicly visible data. Nevertheless, there are many privacy coins.  Zcash, Dash, and Monero are the 3 most popular options, but there are dozens more.

Price Chart: Defined in CryptoCurrency

Price Chart: Defined in CryptoCurrency

 

A price chart is defined as a constantly changing display showing the historical and current prices that an asset (stock, crypto, etc.) is sold at.


Price charts have often have two ways to display changes in price. One is through a traditional line that goes up and down, and the other is through candlesticks, a type of chart that displays 4 points of information: the opening price, the closing price, the highest price, and the lowest price.

Premine: Defined in CryptoCurrency

Premine: Defined in CryptoCurrency

 

Premine is a condition of some new cryptocurrencies, where the max supply has already been created before being made publicly available. This means, no new coins will be creating during the mining process. 


Mining is a computer process of recording and verifying information on the digital record known as the blockchain. Each computer that fulfills this process can earn a reward in digital money and with cryptocurrencyes that have not been premined, a reward of brand new coins.

Pre-Sale: Defined in CryptoCurrency

Pre-Sale: Defined in CryptoCurrency


A pre-sale is defined as a point in time where investors can put money into a new cryptocurrency project before it becomes publicly available. The benefits for investors are lower prices and bonus coins and the team behind the project get funding to support development and growth.


You may already know that an Initial Coin Offering (ICO) is when a new cryptocurrency idea becomes available for the public to invest in. A pre-sale always comes before an ICO with better prices and a lower fundraising target. Some projects need a pre-sale to support the costs of doing a big ICO.



Because a pre-sale offers better opportunities to make money than an ICO, more crypto projects are raising all the money they need in their pre-sales. Telegram, the private chat application, was supposed to have a very large ICO but instead they raised a massive $1.7 billion dollars in their pre-sale and skipped the ICO.
The downside to a pre-sale is that investors often sell their crypto on exchanges as soon as they are available for a big profit.

Proof of Work [PoW]: Defined in CryptoCurrency

Proof of Work [PoW]: Defined in CryptoCurrency


Proof of Work, or PoW for short, is defined as a computer process for maintaining and building on the digital record known as the blockchain. Imagine the blockchain as a digital book of records. Every page in that book can only store X amount of information. 


So we create new pages to store more information. Those pages are blocks in the blockchain. And creating new blocks, recording and verifying information is all a part of mining. With Proof of Work, computers compete to solve a tough math problem. 


The first computer that does this is allowed to create new blocks and record information. Because mining requires computer power, people do this work in return for money. 

The first computer to solve this problem can record information earning them a reward in brand new digital money plus fees paid for each transaction.
Proof of Work systems are used for cryptocurrencies that regularly create and release their coins, unlike in Proof of Stake systems that have all of their coins released in the beginning.

Position: Defined in CryptoCurrency

Position: Defined in CryptoCurrency


A position is defined as the amount of an asset (such as stocks, cryptocurrency, etc.) you own and at what price.


When you take a position, you are buying an asset with the hopes that you can later sell it and become profitable.

Proof of Stake [PoS]: Defined in CryptoCurrency

Proof of Stake [PoS]: Defined in CryptoCurrency

 

Proof of Stake, or PoS for short, is defined as a computer process for maintaining and building on the digital record known as the blockchain.



Imagine the blockchain as a digital book of records. Every page in that book can only store X amount of information. So we create new pages to store more information. 


Those pages are blocks in the blockchain. The process of creating new blocks, recording and verifying information is all a part of mining.

With Proof of Stake, users can participate after depositing and risking a certain amount of their crypto. 

This is known as a “stake”. Users cannot spend or move their stake. If they are caught recording false information or doing something against the rules, they risk forfeiting their entire stake. People who provide a stake are known as “validators”.

Validators are willing to endure the cost and risks of staking for the chance to earn transaction fees paid by users of the system. Validators earn these fees whenever they are selected to record and verify information.

Validators are selected at random but can increase their chances and their reward size by staking a larger amount.

Proof of Stake systems are used for cryptocurrencies that have all of their coins released in the beginning unlike in Proof of Work systems, where new coins are regularly created and rewarded.

Portfolio: Defined in CryptoCurrency

Portfolio: Defined in CryptoCurrency


Portfolio is defined as group of different investments made by a person or organization.


A portfolio can include any type of investment including stocks, currency, art, and real estate. Portfolios are often designed with a purpose in mind. 


For example, you might have a portfolio for that you intend to hold for the long term. You might have another portfolio with a high risk but great reward potential.

Ponzi Scheme: Defined in CryptoCurrency

Ponzi Scheme: Defined in CryptoCurrency


A Ponzi scheme is defined as an illegal scam where investors are promised large profits with very little risk. A Ponzi scheme never provides a valuable product or service to customers.


Named after Charles Ponzi, a man who became famous and wealthy for creating such a scam in the US in the 1920s. While he was not the first to come up with this idea, Charles became so famous for scamming over $1 million every day (in today’s dollars) that this scam became identified with him.


Charles built a fake business, and promised investors 50% of their money back in 45 days, or 100% of their money in 90 days. Rather than using the money to build a real business, money from new investors was used to pay back original investors, and he kept a portion of everything for himself.

Poloniex.com: Defined in CryptoCurrency

Poloniex.com: Defined in CryptoCurrency

 

 Poloniex or Polo is a digital cryptocurrency exchange company that allows people to trade their various coins with each other.

Proof of Developer [PoD]: Defined in CryptoCurrency

Proof of Developer [PoD]: Defined in CryptoCurrency

 

Proof of Developer or PoD is any verification that provides evidence of a real, living software developer who created a cryptocurrency. 


PoD are used when launching new cryptocurrencies to prevent an anonymous developer from collecting and stealing money without actually providing a workable cryptocurrency.

Proof of Burn [PoB]: Defined in CryptoCurrency

Proof of Burn [PoB]: Defined in CryptoCurrency

Proof of Burn is a method of investing in brand new cryptocurrencies where, in order to get 1 of the new currency, you must burn/destroy another currency like bitcoin. 


That would in theory make, make each new cryptocurrency worth the value of the destroyed coin. Because you can’t actually destroy digital coins, the systems requires you to send it to a location where it can never be spent reducing the total supply of that coin.

Platform: Defined in CryptoCurrency

Platform: Defined in CryptoCurrency


A platform is defined as an environment where software can be developed and run. Most platforms allow users to connect with other users through things like the Internet.


A platform is computer technology (hardware and/or software) used as a base upon which applications and other software can be built. In other words, a platform is the foundation and the application is built on top of it.


Your phone is both a hardware and software platform whereas ethereum is a software platform.

Permissionless: Defined in CryptoCurrency

Permissionless: Defined in CryptoCurrency


Permissionless is a positive quality, where anyone is permitted to join and participate in an activity. 


Permissionless is often used when describing blockchain technologies because anyone can download the digital record known as the blockchain and participate in recording and verifying information.

Payee: Defined in CryptoCurrency

Payee: Defined in CryptoCurrency


A payee is defined as the person who is receiving money, he is being paid.


Compare this with payer, the person who is giving out money.

Paper Wallet: Defined in CryptoCurrency

Paper Wallet: Defined in CryptoCurrency

 

A paper wallet is simply a piece of paper containing the information needed to access and spend your cryptocurrency. 


A wallet is software that interacts with the network of recordings (blockchain) and lets users receive, store, and send their digital money. 


Paper wallets are often used to backup the information to access your money or

Peer to Peer [P2P]: Defined in CryptoCurrency

Peer to Peer [P2P]: Defined in CryptoCurrency

 

Peer to peer or P2P for short, is defined as a connection between two or more computers that allow them to share information, files or other data directly.



The word peer itself just means someone who is equal to another. Peers might share the same history, skills, power, etc.


In a peer to peer network, there are no privileged peers with special rights or advantages. Every peer has the same rights and they all share the workload.

Output: Defined in CryptoCurrency

Output: Defined in CryptoCurrency


Output is defined as cryptocurrency going out of your digital wallet. Cryptocurrency coming into your digital wallet is known as an “input”.


Let’s say you want to spend 10 bitcoin, if you have 3 inputs (3, 9, and 15) then the first two are combined (3+9=12) and both are sent out as outputs.After transaction fees are spent, the remaining balance (about 2 bitcoin) is sent back to you as an input.


Your output is always another person’s input. And reversely, your input is always another’s output.

Over The Counter [OTC]: Defined in CryptoCurrency

Over The Counter [OTC]: Defined in CryptoCurrency


Over The Counter is defined as a transaction made outside of an exchange.Often abbreviated as OTC, these transactions are slower and cannot be programmed like transactions on an exchange.


The disadvantage of transactions on an exchange is that large transactions shift the price. Let’s say Johnny is selling his bitcoin for $10,000, Bill is selling his for $11,000, Alice is selling hers for $12,000, and so on. 


A big purchase will clear out Johnny, Bill, Alice and the rest of the sellers causing an increased price. Increased prices means a higher cost for big buyers.

The advantage of OTC purchases are that they are not as visible as those on an exchange and will likely not shift the price at all. Bitcoin ATMs, payment processors are two ways you can make OTC purchases.

Orphan: Defined in CryptoCurrency

Orphan: Defined in CryptoCurrency


Orphan describes a block that has been abandoned and will not be built upon. Blockchain is technology for creating permanent, secure digital recordings. 

 

If you imagine the blockchain as a book of records, then each page in that book is what is known as a “block”. A block is simply a recording of information. 


Blocks are attached to each other making what is known as the blockchain. 

 Because many computers are maintaining the blockchain, occasionally two blocks are created at the same time. 

Since only one block can be created at a time, only one will be continued and built upon, the other block will be abandoned and is known as an orphan

Open Source: Defined in CryptoCurrency

Open Source: Defined in CryptoCurrency


Open source describes any type of technology that is made public and can be seen, changed, and shared. 

The term is usually used for computer technology that has been made available to anyone and is not protected.

Open Source: Defined in CryptoCurrency

Open Source: Defined in CryptoCurrency


Open source describes any type of technology that is made public and can be seen, changed, and shared. 


The term is usually used for computer technology that has been made available to anyone and is not protected.

Nonce: Defined in CryptoCurrency

Nonce: Defined in CryptoCurrency


Nonce is defined as a number used while mining cryptocurrency with the hope that it will solve a math problem and earn money.


Mining is defined as the process of using computer power to solve a complex math problem, review and verify information, and create a new block so the information can be added to the blockchain.


Random numbers known as “nonces” are tried one after the other in the hopes of solving the math problem. 

If the nonce doesn’t solve the problem, it is rejected and a new nonce is tested out. Once the problem is solved, the person is eligible to create a new block, add it to the blockchain and get their reward in cryptocurrency.

The activity of using many thousands of nonces to solve a math problem is called brute-force.

Nonce comes from an older English phrase which meant “only once”.

Node: Defined in CryptoCurrency

Node: Defined in CryptoCurrency

A node is defined as any computing device (computer, phone, etc.) that is maintaining a network.


Cryptocurrencies are supported by a network of computers each keeping a digital record of the data known as a blockchain.


A computer, a phone, or any other computing device that can receive, transmit, and/or contribute to the blockchain is a node.

Neo [NEO]: Defined in CryptoCurrency

Neo [NEO]: Defined in CryptoCurrency

Neo is a cryptocurrency that has similar technology to Ethereum allowing developers to build their own cryptocurrency. 


Because ethereum is #2 in the crypto universe, comparing neo to it has boosted neo’s value. The first coin being developed with NEO is Redpulse.

Multisignature: Defined in CryptoCurrency

Multisignature: Defined in CryptoCurrency


Multisignature means more than one signature or approval is required before a transaction can take place. 


Multisignature increases the security for cryptocurrencies so that one person cannot take all of the money for himself without approval

Mtgox.com: Defined in CryptoCurrency

Mtgox.com: Defined in CryptoCurrency

Mtgox or Mt. Gox was one of the first websites where bitcoin could be exchanged for regular government issued money like US dollars. 


In 2014, Mt. Gox closed after roughly 850,000 bitcoin was declared lost or stolen. 


Mt. Gox was created in 2006 by Jed McCaleb who named it after Magic: The Gathering Online Exchange where users could cards like stocks. Jed later sold Mt. Gox to Mark Karpel├Ęs in 2011.

Moore’s Law: Defined in CryptoCurrency

Moore’s Law: Defined in CryptoCurrency


Moore’s Law is an observation that computer technology becomes quicker and smaller with time.


This observation was first made by Gordon Moore in 1965. Gordon, a co-founder of the computer company Intel, found that the number of transistors (an electronic device that controls the flow of electricity) in one square inch doubles every year.

Mooning: Defined in CryptoCurrency

Mooning: Defined in CryptoCurrency

Mooning is the action of the price of a cryptocurrency going way up, sky high, and to the moon.

Money: Defined in CryptoCurrency

Money: Defined in CryptoCurrency


Money is a system and its units for exchanging value. The value of each unit is agreed to be worth something. 


Money is used to pay for things and services as well as debts. The history of the word money comes from mint, meaning to make coins, medals and tokens out of raw metal. 


Usually money is made out of paper and cheap metals, but sometimes it can be found made out of gold or silver. Which is to say, some money is made out of things that are already valuable.

Mnemonics: Defined in CryptoCurrency

Mnemonics: Defined in CryptoCurrency


Mnemonics are memory aids of any kind such as rhymes, abbreviations and songs that help you remember something else. 


Mnemonics comes from a Greek word that meant, “relating to the mind”.  Mnemonics is pronounced: nuh-mon-ics.

Mnemonic Phrase: Defined in CryptoCurrency

Mnemonic Phrase: Defined in CryptoCurrency



A mnemonic phrase (also mnemonic seed or seed phrase) is defined as a secret list of words used in sequence to gain access to your cryptocurrencies.


mnemonic-seed-phrase-image


“Mnemonic” just means a memory aid such as rhymes, abbreviations and songs that help you remember something else. A mnemonic phrase is a group words, often 12 or more, created when a new wallet is made to store your cryptocurrency.


If your the computer running your wallet broke, you could use your mnemonic phrase to recover your wallet and crypto. The words must be typed in exactly in the same sequence they were created.

Most people store their phrases on a piece of paper and then keep that in a safe place. Your phrase must be kept secret, anyone who discovers it can steal your crypto.

Mnemonic is pronounced: nuh-mon-ic.

Mixing Service: Defined in CryptoCurrency

Mixing Service: Defined in CryptoCurrency

A mixing service, also known as a “tumbler”, lets you send in your cryptocurrency and get the same amount back, minus fees, from other people. 


The purpose of a mixing service is to improve the privacy and anonymity of digital money by making it harder to track what the cryptocurrency was used for and who it belongs to.