CryptoURANUS Economics

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Thursday, May 6, 2021

Faucet: Defined in CryptoCurrency

Faucet: Defined in CryptoCurrency

A faucet is a website or application that provides small, free amounts of new cryptocurrencies to help increase awareness.

Financial Crimes Enforcement Network: Defined in CryptoCurrency

Financial Crimes Enforcement Network: Defined in CryptoCurrency



Financial Crimes Enforcement network or FinCEN is a part of the US government that analyzes financial information so they can protect the US financial system.

FOMO: Defined in CryptoCurrency

FOMO: Defined in CryptoCurrency


FOMO is short for Fear of Missing Out. FOMO is often felt when you see a coin start to increase in value and you don’t yet own it.

FUD: Defined in CryptoCurrency

FUD: Defined in CryptoCurrency


FUD is short for Fear, Uncertainty and Doubt. FUD is any information that is supposed to create feelings of fear, uncertainy, doubt and other negative emotions.

FUDster: Defined in CryptoCurrency

FUDster: Defined in CryptoCurrency

 

A FUDster is someone who spreads FUD and FUD is short for Fear, Uncertainty and Doubt. FUD is any information that is supposed to create feelings of fear, uncertainy, doubt and other negative emotions.

Full Node: Defined in CryptoCurrency

Full Node: Defined in CryptoCurrency


A full node is defined as a computer that has a complete, current copy of the blockchain software. 


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.

When talking about blockchain technology, we have two types of full nodes:
  • A full node that maintains an entire copy of the blockchain program and also receives, records, verifies, and transmits transactions on the blockchain. This process is known as “mining”.
  • A full node that only receives and transmits transactions on the blockchain program. This process is passive and relies on a mining full node for updates.

Gains: Defined in CryptoCurrency

Gains: Defined in CryptoCurrency


Gains are defined as increases in value. When used to describe cryptocurrency, it is an increase in value and profit.