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Crypto Trading, DeFi & Tokenomics

80 cards · 🇺🇸 English

Trading concepts, decentralized finance and smart contracts.

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Cryptocurrency

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  1. 1Cryptocurrency
    A digital currency designed to work through a computer network not reliant on any central authority (like government or bank), using cryptography to secure transactions
  2. 2Blockchain
    A continuously growing list of records (blocks) linked and secured using cryptography; an open distributed ledger that records transactions between parties efficiently, verifiably, and permanently
  3. 3First cryptocurrency
    Bitcoin, released as open-source software in 2009 by pseudonymous developer Satoshi Nakamoto
  4. 4Altcoins
    Alternative cryptocurrencies; tokens, cryptocurrencies, and digital assets that are not Bitcoin, collectively known as alternatives since the 2010s
  5. 5Proof of work (PoW)
    A consensus mechanism where miners use computational power to solve cryptographic puzzles to validate transactions and add blocks to the blockchain
  6. 6Proof of stake (PoS)
    A consensus mechanism where transactions are validated by holders of the associated cryptocurrency, requiring users to show ownership of a certain amount of currency to achieve distributed consensus
  7. 7Cryptocurrency mining
    The validation of blockchain transactions using computational power; successful miners obtain new cryptocurrency as a reward, creating an incentive to contribute to network processing power
  8. 8Cryptocurrency wallet
    A means of storing public and private keys (addresses) that can be used to receive or spend cryptocurrency; the private key allows writing to the public ledger (spending)
  9. 9Stablecoin
    A cryptocurrency designed to maintain a stable level of purchasing power, often pegged to fiat currency or commodities, though not foolproof (some have crashed or lost their peg)
  10. 10Memecoins
    A category of cryptocurrencies that originated from Internet memes or jokes (e.g., Dogecoin); known for extreme volatility and a high prevalence of scams
  11. 11Bitcoin's consensus mechanism
    Proof of work using SHA-256, a cryptographic hash function, in its proof-of-work scheme
  12. 12Cryptocurrency node
    A computer that connects to a cryptocurrency network, supporting it by relaying transactions, performing validation, or hosting a copy of the blockchain
  13. 13Hash in cryptocurrency
    The output of a cryptographic hash function used to validate transactions; miners generate hashes to secure and verify blockchain transactions
  14. 14Hash rate
    The measure of mining power, typically measured in TH/s (terahashes per second); indicates the speed at which a miner can generate hashes
  15. 15Mining pool
    When miners pool resources, sharing processing power over a network to split rewards equally according to the amount of work contributed to finding a block
  16. 16ASICs in crypto mining
    Application-Specific Integrated Circuits - specialized hardware designed specifically for cryptocurrency mining, running complex hashing algorithms more efficiently than CPUs or GPUs
  17. 17Why is cryptocurrency considered pseudonymous?
    Cryptocurrency in a wallet is not tied to a person but to specific keys/addresses; owners aren't immediately identifiable, but all transactions are publicly available on the blockchain
  18. 18Block reward
    The reward given to miners for successfully validating transactions and adding a new block to the blockchain; increases cryptocurrency supply and incentivizes mining
  19. 19Transaction fees (gas fees)
    Fees paid to miners or validators for processing cryptocurrency transactions on the blockchain
  20. 20Tokenomics
    The economics of tokens/cryptocurrencies including supply mechanisms, distribution, incentives, and how the token's value is created and sustained
  21. 21Cryptocurrency exchange
    A platform where cryptocurrencies are traded; allows users to buy, sell, and exchange cryptocurrencies, often required by law to collect user personal information
  22. 22Smart contract
    Self-executing contracts with terms directly written into code on a blockchain (e.g., Ethereum), allowing decentralized applications to run
  23. 23Distributed ledger
    A database spread across multiple sites/nodes in a network, where each node has a copy and can independently validate transactions
  24. 24Byzantine fault tolerance
    The ability of a distributed system to function correctly even when some nodes fail or act maliciously; blockchains achieve high Byzantine fault tolerance
  25. 25Genesis block
    The first block in a blockchain; Bitcoin's genesis block contained a note with a newspaper headline about banking instability
  26. 26Altseason
    A period when significant market price rallies occur across multiple altcoin markets simultaneously
  27. 27Advantage of proof-of-stake over proof-of-work
    Dramatically lower energy consumption and carbon emissions; doesn't require intensive computational mining operations
  28. 28Why do cryptocurrencies decrease production over time?
    Most cryptocurrencies are designed to gradually decrease production and cap total supply to create scarcity and potentially support value
  29. 29Hardware wallet
    A physical device used to securely store cryptocurrency wallet information offline, protecting keys from online threats
  30. 30Paper wallet
    Public, private, or seed keys written on paper as a method of storing cryptocurrency wallet information offline

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