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.

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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.

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.