Terms in virtual currency, trade coin
To start participating in the cryptocurrency market, buying and selling with potential, you need to be fully equipped with in-depth knowledge to invest most effectively. Let's learn some terms related to cryptocurrency trading through this article.
Register:
Register for Binance via the following link and receive 20% lifetime transaction fee refund
Binance 20% Trading Fee Rebate Code:
A03FS100
2FA: Google Authenicator - fast authentication software to secure logins to protect accounts on trading floors.
Altcoin: Sub-coin, junk coin - refers to coins and tokens that are not Bitcoin
Stablecoin: Coins that represent a certain Fiat currency, pegged to the same value as that currency at a 1:1 ratio
For example:
USDT, BUSD, USDC, VNDT are stablecoins. With 1 USDT, 1 BUSD is pegged to the US dollar and will have an exchange value of 1 USDT = 1 USD.
ATH: All time high, indicates the highest price of a coin in its price history.
ATL: All time low, opposite of ATH, refers to the lowest price in the history of a coin.
Airdrop: The act of distributing free tokens and coins by the project owner to the community with the purpose of building the community and promoting that coin. To receive airdrops, you will usually have to follow, retweet posts on Twitter, join the group's Telegram, share posts on Facebook, Tiktok... Many people get rich and change their lives, earning billions of dong each year just by participating in Airdrop events for projects.
Buy: Buy coins
Sell: Sell
Binance: The world's most popular, most played exchange:
Binance.com
Balance: Account balance
ETH: $ETH #Ethereum✅ : the second most popular coin after Bitcoin
Sharks: People who hold large amounts of coins and money and have the ability to manipulate prices and the market
Coinmarketcap: Only website that tracks cryptocurrencies coinmarketcap.com
Confirm: Wait for the transaction to be confirmed, when you send coins, you have to wait for the transaction to be confirmed on the blockchain for the coins to reach the recipient. The people who confirm your transaction here are the coin miners.
Cryptocurrency: General name for the cryptocurrency market, electronic money, algorithmic money
Deposit: Deposit coins/money into the exchange
Dump: Indicates a decrease in price
Peak hunting: Only young people who are not afraid of heights, buy right when the price is at its highest and sell at a loss =))
Exchange: Exchange
Fee: Transaction fee, this fee is determined by each exchange.
Fomo: Fear of missing out on opportunities among coin traders, referring to crowd syndrome.
Halving: Every 210,000 blocks, the reward for mining a new block of bitcoins is halved. As a result, the total amount of bitcoins that can be generated is limited (21 million BTC), this event is called halving
Harkfork: Indicates the splitting of a coin, for example BTC splits into BCH and BTG..
Hold: Hold the coin until it is really high before selling, a few months, a few years, sometimes a lifetime.
Hold to die: Hold to the end, hold to death =))
ICO: Usually refers to a form of fundraising to sell coins that are about to be released and listed on the exchange.
Investor: Investor
Investment: Investment, usually refers to those who play multi-level coin or coins that invest to receive interest.
KYC: Know Your Customer: you need to verify your identity before you can trade to protect your account + avoid money laundering crimes.
Lending: Play coin MLM, deposit coin or invest money in fund and receive daily interest.
Marketcap: Total market value of a coin
Miner: Cryptocurrency Miner
Mining: Coin mining
Meme coin, meme token: Refers to coins and tokens represented by a meme or a specific community. These coins often do not have much practical value but are loved and supported by their own communities.
For example:
Dogecoin with the meme image of a dog will be supported by the dog lover community and they will buy Doge to hold just because they have faith and love for their community.
Paper wallet: Electronic wallet printed on paper to be stored outside the computer to avoid being hacked.
Private key: Secret key, the key to open your coin storage, losing this key is considered losing coins, if you save coins on exchanges, this key is kept by the exchanges for you.
Public Key - public key: A form of data that is made public. In this case, the public key is the bitcoin – address.
Pump: Indicates an increase in price
Remitano: The most reputable Bitcoin, Ethereum, USDT trading floor in Vietnam
Satoshi: The smallest unit of bitcoin, also the name of the person who is believed to have created bitcoin, 1 btc = 100 million satoshi
Scam: Fraud
Shark, Whale = Shark above.
Token: Refers to virtual currencies that do not have their own blockchain but are born from the blockchain of other coins, for example, programmed based on Ethereum's blockchain.#Solana🚀 or BSC, Base..
To the moon: To the moon, means x2, x3, x10, x50 account, feels like being sublimated to the moon to play with Hang Nga :D
Volume: Daily trading volume, for example Neo's Volume is 1000 BTC, meaning that each day both buying and selling reach a value of 1000 BTC
Wallet: Wallet to hold coins, tokens such as Metamask, Trustwallet or online exchange wallets such as Binance, Blockchain.com
![[IMG]](https://public.bnbstatic.com/image/pgc/202410/7e1ed13fbf669086e94cb6b873f60626.png)
Terms related to trading onBinance floor
To make transactions accurate and ensure verification, you must understand the related terms.
FIAT
This is the currency provided by the Government, for example USD – United States Dollar.
WHALE
A person who owns a large amount of cryptocurrency is called a Whale.
EXCHANGE
This is a website where you can exchange and buy and sell cryptocurrencies in the simplest way. There are some exchanges on this site such as Binance, Bittrex, Kucoin..
SELL WALL / BUY WALL
Sell wall is a sell wall that occurs when the amount of cryptocurrency bought is much higher than the amount of sold.
Buy wall is a reverse buy wall that occurs when the amount of selling cryptocurrency is much higher than the amount of buying.
MARKET ORDER / MARKET BUY / MARKET SELL
This term refers to an order to buy or sell on the exchange at current prices such as buy low and sell high.
LIMIT ORDER / LIMIT BUY / LIMIT SELL
These are terms that refer to orders placed by traders to buy or sell a cryptocurrency when the price reaches a certain amount. They can be thought of as signals to sell the cryptocurrency. These orders are what are bought and sold when traders place market orders.
MARGIN TRADING
This is a trading platform that allows investors to participate with orders of 10, 20, 100 times. This platform is quite risky and is only for experienced people, beginners should not participate. Margin Trading is only available on some exchanges such as Poloniex, Bitmex.
GOING LONG
Only one Margin trade is profitable if the price increases.
GOING SHORT
Only one Margin trade is profitable if the price goes down.
BULLISH
This is a bullish trend, if the price of a cryptocurrency or an asset is in a bullish trend, it means that the market is expecting that the price of that asset will continue to increase.
BEARISH
This is a bear trend meaning the market is expecting the asset price to fall.
ATH
ATH stands for All Time High, which is the highest recorded price of an asset.
ICO
ICO stands for Initial Coin Offering, mainly to raise capital on the Ethereum platform, startups issue their own tokens in exchange for ETH.
FOMO
FOMO stands for Fear Of Missing Out and refers to the regret when you don't invest in time when something skyrockets.
FUD
FUD stands for Fear – Uncertainty – Doubt, a term that refers to fear, uncertainty and constant doubt, specializing in spreading negative news that affects investors' psychology.
SHILLING / PUMPING
This term refers to the influence of news about advertising a cryptocurrency released to the market such as bad news the coin decreases and vice versa good news the coin increases.
STABLE COIN
This is a low volatility cryptocurrency that can be used to trade against the general market.
ARBITRAGE
This term is often used when comparing ETH prices on different exchanges, taking advantage of the price difference of the same item on 2 exchanges.
FOOTWEAR
That is, someone is spreading negative news.
PUMP AND DUMP
Just the repetitive cycle of the same altcoin getting a lot of attention leads to a super fast price increase and then a constant drop.
HOLDER
Refers to someone holding a coin in the hope that it will increase in price in the future.
MARKET CAP
This is the term for the total value of cryptocurrency holdings, market cap is calculated by multiplying the total supply of coins by the current price of an individual unit. The result shows the market rise and fall of each coin flow.
ROI
ROI stands for Return on Investment and refers to the percentage of money made compared to the initial investment.
FACING
Refers to the process of examining current charts to predict how the market will move, also known as trend analysis and technical analysis.
MACD
A trend indicator that shows the relationship between two moving averages of price called moving average convergence divergence.
BOLLINGER BAND
This term refers to a range around the price of a cryptocurrency of a coin that is overbought or oversold.
Other terms:
BTFD: Buy The Fucking Dip: Buy the fuck out of it, what the hell are you afraid of at such a low price!
DILDO: The image of red and green candles going up and down in technical analysis
Weak hand: Shaky hands, weak muscles, someone who sells coins as soon as the market shows signs of going down
Ashdraked: The Situation When All Your Investment Money Is Burned
DYOR: Do Your Own Research: Do your own research, don't "follow" others.
FA: Fundamental Analysis: Fundamental Analysis
JOMO: Joy Of Missing Out, happy to have missed the opportunity
This is the case when everyone jumps in to join, you are busy, have no capital or some other reason not to join. But when it turns out that everyone has been scammed, you are glad that you missed the opportunity because you were not scammed.
MCAP: Market Capitalization, total value of trading on the market
Moon: Prices keep going up
OTC: Over The Counter Market (price according to the market). OTC price is unclear, different between dealers (bookmakers), the price offered also differs depending on the customer; this price is different from the price on the exchange.
Swing: Price moves up and down like a zigzag
TA: Technical Analysis
REKT: Lost money, heavy damage
The abbreviation wreck (pronounced rekt) means to sink, to be destroyed.
RSI: Relative Strength Index
Terms related to trading
To make transactions accurate and ensure verification, you must understand the related terms.
FIAT
This is the currency provided by the Government, for example USD – United States Dollar.
WHALE
A person who owns a large amount of cryptocurrency is called a Whale.
EXCHANGE
This is a website where you can exchange and buy and sell cryptocurrencies in the simplest way. There are some exchanges on this site such as Binance, Bittrex, Kucoin..
SELL WALL / BUY WALL
Sell wall is a sell wall that occurs when the amount of cryptocurrency bought is much higher than the amount of sold.
Buy wall is a reverse buy wall that occurs when the amount of selling cryptocurrency is much higher than the amount of buying.
MARKET ORDER / MARKET BUY / MARKET SELL
This term refers to an order to buy or sell on the exchange at current prices such as buy low and sell high.
LIMIT ORDER / LIMIT BUY / LIMIT SELL
These are terms that refer to orders placed by traders to buy or sell a cryptocurrency when the price reaches a certain amount. They can be thought of as signals to sell the cryptocurrency. These orders are what are bought and sold when traders place market orders.
MARGIN TRADING
This is a trading platform that allows investors to participate with orders of 10, 20, 100 times. This platform is quite risky and is only for experienced people, beginners should not participate. Margin Trading is only available on some exchanges such as Poloniex, Bitmex.
GOING LONG
Only one Margin trade is profitable if the price increases.
GOING SHORT
Only one Margin trade is profitable if the price goes down.
BULLISH
This is a bullish trend, if the price of a cryptocurrency or an asset is in a bullish trend, it means that the market is expecting that the price of that asset will continue to increase.
BEARISH
This is a bear trend meaning the market is expecting the asset price to fall.
ATH
ATH stands for All Time High, which is the highest recorded price of an asset.
ICO
ICO stands for Initial Coin Offering, mainly to raise capital on the Ethereum platform, startups issue their own tokens in exchange for ETH.
FOMO
FOMO stands for Fear Of Missing Out and refers to the regret when you don't invest in time when something skyrockets.
FUD
FUD stands for Fear – Uncertainty – Doubt, a term that refers to fear, uncertainty and constant doubt, specializing in spreading negative news that affects investors' psychology.
SHILLING / PUMPING
This term refers to the influence of news about advertising a cryptocurrency released to the market such as bad news the coin decreases and vice versa good news the coin increases.
STABLE COIN
This is a low volatility cryptocurrency that can be used to trade against the general market.
ARBITRAGE
This term is often used when comparing ETH prices on different exchanges, taking advantage of the price difference of the same item on 2 exchanges.
FOOTWEAR
That is, someone is spreading negative news.
PUMP AND DUMP
Just the repetitive cycle of the same altcoin getting a lot of attention leads to a super fast price increase and then a constant drop.
HOLDER
Refers to someone holding a coin in the hope that it will increase in price in the future.
MARKET CAP
This is the term for the total value of cryptocurrency holdings, market cap is calculated by multiplying the total supply of coins by the current price of an individual unit. The result shows the market rise and fall of each coin flow.
ROI
ROI stands for Return on Investment and refers to the percentage of money made compared to the initial investment.
FACING
Refers to the process of examining current charts to predict how the market will move, also known as trend analysis and technical analysis.
MACD
A trend indicator that shows the relationship between two moving averages of price called moving average convergence divergence.
BOLLINGER BAND
This term refers to a range around the price of a cryptocurrency of a coin that is overbought or oversold.
Advanced terms:
ADAPI: Stands for Anonymous Decentralized Application Programming Interface. It is expected that after the launch of the Evolution version which includes DAPI, Dash will upgrade it to ADAPI.
ACH: Stands for Automated Clearing House, which is a network that connects banks and financial institutions in the United States for processing financial transactions. ACH processes large amounts of financial transactions in batches.
Algorithm: In the cryptocurrency field, algorithm usually refers to the hashing algorithm that the digital currency uses.
AML: This stands for Anti Money Laundering which means a regulation against money laundering.
ATH: Stands for All time high, meaning the highest peak price of a coin.
API: This is an abbreviation for Application Programming Interface, which means application programming interface. Usually, when a software wants to open channels to communicate with other software, people create these application programming interfaces so that other software can easily interact with that software. For operating systems, API is used to help software running on that operating system use the built-in functions of the operating system by simply using the communication rules specified in the API. Later, websites also created application programming interfaces so that third-party programmers can easily write software that connects and interacts with their websites. Facebook, thanks to the development of a powerful API, has helped game programmers and application developers create many applications on the Facebook platform, thanks to which Facebook won Mys- pace to become the largest social network on the planet.
ASIC: Stands for Application Specific Integrated Circuit which means an integrated circuit for a specific application. Usually in the digital currency field, certain hashing algorithms are used for creating blockchains and miners are often designed for certain algorithms to increase the speed of coin mining. For example, Bitcoin miners have ASICs with the SHA256 algorithm while Dash mining ASICs are created for Dash's X11 algorithm.
Block: In the world of digital currency, a block is a group of transactions and the digital currency database is a chain of blocks of these transactions. Different digital currencies use blocks of different sizes. For example, Bitcoin currently uses a block size of 1 MB, but this may change in the future. It is said that all transactions are stored in a ledger, and each block is like a page in that ledger.
Blockchain: It means a chain of blocks containing transactions linked together in a closely related chain. This is a keyword for the application of the technique of chaining blocks into a chain connected together and using peer-to-peer network technology to store data synchronously on all network nodes. Because this technology uses network nodes connected to each other, the time at the network nodes may not be the same, so the use of such chained blocks ensures their chronological order.
Block explorer: This is a tool that helps programmers and blockchain researchers track and trace transactions. This is a tool that helps the digital currency field gain transparency.
Block reward: This is the reward given to the miner who mines a block. In the field of digital currency using the Proof of Work mechanism, miners must compete to solve a hash of a certain difficulty to gain the right to create a block. The miner who solves it first will have the right to create the block and receive the reward for creating that block.
Block size: Means the size of a block.
Block time: This means the time it takes to create a block. For example, Bitcoin has an average time of 10 minutes per block, while Dash has an average time of about 2 and a half minutes per block. If miners solve a hash with a certain difficulty level sooner than the average time, the difficulty is increased, and if miners solve it slower than the average time, the difficulty is decreased.
BIP: Stands for Bitcoin Improvement Proposals, which means Bitcoin improvement proposals. During the development of Bitcoin, many improvement proposals were applied and each proposal was assigned a code called BIP xxxx, where xxxx is the code of the improvement.
Bearish: Expects prices to fall. Often used when looking at market price charts.
Budget: For digital currencies like Dash that use a mechanism to fund community projects to improve technology or help the currency become popular, the budget here means the capital generated by the system for community projects.
Bullish: Expecting that prices will rise. Often used when looking at market price charts.
Circulating Supply: This is an index of digital currencies, it shows the total number of coins circulating in the market of that currency.
Cold storage: Cold storage means keeping the digital wallet offline, that is, without connection to the Internet.
Consensus: Means consensus.
Confirm: Also known as confirmation, it means that the miners have verified a transaction. Normally in the digital currency world, every certain period of time, the miners will confirm the transactions in a block. The more confirmations a transaction has, the more secure it is. In normal transactions, wallets usually require about 6 confirmations for it to be considered secure.
Circulating Supply: This is an index of digital currencies, it shows the total number of coins circulating in the market of that currency.
Cryptography: Means cryptography, or encryption methods or the field of study of converting the content of a message into a format that only those with the key can read its content.
PI: Stands for Decentralized Application Programming Inter- face, this is a concept introduced by Evan Duffield, the founder of Dash. DAPI stands for decentralized application programming interface, which means that this is a programming interface for applications to interact with the decentralized system of Dash without having to interact with a server, but the Dash system will automatically retrieve data on the system to provide data or communication methods for external programs or build to take advantage of Dash's underlying technology.
DAO: Stands for Decentralized Autonomous Organization, which means a system that operates automatically and decentralized. Autonomy here means that it does not need control or command but thinks and acts on its own. An autonomous system can be seen as a beehive or an ant colony when each member of the system knows its own tasks and performs its tasks without needing orders or permission from other members.
DarkSend: This is the old name for Dash's PrivateSend technology that allows Dash users to send money to each other anonymously and with high privacy.
Dash: Is a digital currency, a decentralized electronic currency technology. Dash also means electronic cash, in English called Digital Cash. Dash is also the name of a digital currency unit called Dash, 1 Dash is like a Coin, a Dollar, a Bitcoin..
Dash Drive: Also known as DashDrive, is a special technology of Dash (released with the Evolution version of Dash) that allows storing information about users' wallets on the hard drives of Masternodes. This allows users to access their wallets anywhere from desktop wallets, on phones, even on the web through Dash's decentralized application programming interface.
Decentralize: Means decentralized.
Decentralized Oracle: This is a new concept introduced by Evan Duffield, the founder of Dash. This technology allows masternodes to query different data sources and the Dash system will automatically vote to select and evaluate the accuracy of the information based on the automatic voting results among a random minimum group of n masternodes. This is the key factor to ensure that a smart contract is truly decentralized.
Decrypt: Means to decode, is to transform encrypted messages into a readable format. Decrypt is the opposite of Encrypt.
Decryption: Means decoding.
Deflation: Means deflation and is the opposite of inflation. Deflation means when the money supply is less than the demand for that currency causing its price to increase.
DIP: Stands for Dash Improvement Proposals, which means Dash's improvement proposals. Because Dash is developed based on Bitcoin, Dash's platform also inherits most of the BIPs (Bitcoin Improvement Proposals), but it also has its own Dash improvements that Bitcoin does not have. DIP xxxx where xxxx is the number of each improvement. For example, DIP0001 increases Dash's blocksize to 2Mb
Difficulty: Or some people call it Diff for short, is a measure of how difficult it is to find a hash code. In any cryptocurrency network, the generation of each new block requires verification of this hash code.
Duff: The smallest unit of Dash. One Duff is equal to 0.00000001 Dash. Duff is also the initials of Duffield (the last name of Dash founder Evan Duffield).
Dump: Means to dump, or sell off, to the market to withdraw money. This is a concept for people trading cryptocurrencies on exchanges. Some people trading on cryptocurrency exchanges, when they see bad news about the coin they hold, try to sell off their cryptocurrencies to withdraw as soon as possible.
Ethereum: This is the name of a cryptocurrency, the first block-chain technology that is capable of embedding program fragments capable of a complete programming language into the blockchain.
Electrum: This is a type of cryptocurrency wallet that does not download the entire blockchain to the user's workstation, but instead accesses the blockchain on the server. Electrum does not guarantee decentralization, but it allows users to have convenience and speed by not having to download the entire block chain to the workstation.
Encrypt: Means to encode, that is, to turn a normal message into a secret form that cannot normally be read. The opposite of Encrypt is Decrypt.
Encryption: Means encryption.
Escrow: In economics, an escrow service is a business performed by a licensed and regulated company to collect, hold, and transfer funds, according to conditions specified by both the client and the service provider. Once the client's conditions are met, the funds are immediately released to the service provider. Typically, in the PPP business, escrow is used to pay upfront fees for "preliminary" services such as leased banking instruments, funding opportunities, and others. Similarly in the Bitcoin space, escrow is recommended in cases where two parties do not trust each other or where the transaction is of high value.
Fiat: Means currencies issued by a government, such as US Dollars, Euros, Vietnamese Dong.
FOMO: Abbreviation for Fear Of Missing Out, meaning fear of missing out. This is the effect of people rushing to buy more coins when the price increases because they are afraid that the price is too high and they will miss the opportunity. Or when the price suddenly drops, people also rush to sell because they are afraid of not being able to sell at a high price.
Fork: In the field of open source software, anyone can use other people's open source code for their software as long as they continue to keep their software in source code form and others can continue to use it. Fork is a way to use the source code of a previous software and then change it to create another function. For example, Bitcoin software was originally created but then Dash was created on the original platform of Bitcoin software, of course Dash also changed a lot to create another variant. In turn, there are many other software Forks from Dash such as PIVX, Bitsend... There is no limit to how much or how little you can change, as long as you use someone else's open source software and then change it to become your own, that process is called fork.
Fintech: A compound word of Financial Technology, meaning financial technology
FUD: Stands for Fear – Uncertainty – Doubt. This refers to anxiety, fear, and uncertainty when deciding to invest, buy, or trade on digital currency exchanges. FUDer means a person with characteristics such as fear, uncertainty, and doubt. In order not to be considered a FUDer, we should spend time researching thoroughly, including technological and economic factors, so that when we make a decision, we have certainty and confidence.
Full node: Digital currency uses Peer To Peer (P2P) technology and peer-to-peer networks consider each computer connected to the network as a network node, each network node can be turned on or off and computers when connected to the network will have to synchronize or access data from network nodes with full information. Full node is a network node that contains all the data of transactions. A network with many full nodes ensures that data is widely replicated and that avoids the risk of data theft.
Funding: This is an investment term that means funding. It can be funding for projects or funding for startups. The new digital currency field uses this concept because Dash because the Dash ecosystem itself has the ability to fund community projects that help develop new features for the system or projects that add value to the ecosystem.
Github: Because the digital currency field requires transparency and open source, software in this field often uses a source code management tool called Github (accessible at www. Github.com). This is a free software source code management and sharing tool, so it is used by many blockchain application programmers because of its transparency, openness and high collaboration between programmers.
Governance: This is also a new term that has been used recently because the cryptocurrency field has many people participating in its ecosystem, so it is difficult to reach consensus to choose certain directions for the community. Governance is a way to allow the community to make common decisions without creating conflicts. This also means governance, or rule. A cryptocurrency system not only needs a governance system but also a decentralized governance system (Decentralized Gover- nance), which means that there is no need to trust any person or organization, but the community can make decisions by voting. Encryption technology allows the community to vote and control that voting to be fair and transparent.
Halving: Every 210,000 blocks, the reward for mining a new block of bitcoins is halved. As a result, the total amount of bitcoins that can be generated is limited (21 million BTC)
Hard wallet: This means that the wallet for digital currency is in the form of a separate hardware (or hardware wallet) and not just a software on the computer or phone. Using a hardware wallet has better security features than a software wallet because if a hacker breaks into the victim's computer and wants to transfer money, the software wallet is only limited by the password and the hacker can install a keylogger on the victim's computer to read the password, while a hardware wallet requires the password to be entered directly on the hardware of the wallet, which cannot be installed or is very difficult to install a tracking code.
Hash: Also known as hashing. In the field of information technology, hashing means a type of feature extraction method so that for a certain piece of text, it is only possible to select a specific code and it is impossible to find the same code for another piece of text and vice versa, the same piece of text cannot generate two different hash codes. In addition, hashing is one-way, that is, when passing a message through the hash function, we can calculate the hash code but cannot do the opposite. Hashing is widely used in the fields of electronic signatures and password management. This hashing is mainly used in the blockchain field to ensure the authenticity of information and avoid forgery because hashing algorithms are often proven to correspond 1-1 between the message and the hash code. There are many different hashing algorithms, of which the most popular are SHA256, SHA3, MD...
Hash Function: A hash function is a computer algorithm that produces a fixed result based on some data. It is very difficult and almost impossible to reverse engineer the result back to the original data.
Hash rate: Is the calculation speed to perform the hashing operation. The higher the hash rate, the faster the hashing operation is processed. Hash rate is often used to compare the processing capabilities of mining machines for digital currencies. With different algorithms, the hashing processing speed is also different, so sometimes a machine with strong computing power but processing this hashing algorithm is slower than a machine with less power but performing another hashing algorithm.
Hype: Means exaggeration or exaggeration. In the field of digital currency trading, a currency that is inflated to an unusually high price is often called Hype.
Hodl: A misspelled form of the word Hold, meaning to keep without selling. This word may have been misspelled from the word hold, but many people have become accustomed to it.
ICO: Abbreviation for Initial Coin Offering, this is a form of initial capital raising, meaning that the development team can sell an initial amount of coins to the public, similar to the initial public offering of companies (IPO).
Inflation: Means inflation. Inflation increases when the money supply is greater than the quantity of goods in the market, making the prices of goods more expensive. Inflation is the opposite of Deflation.
InstantSend: Dash's technology allows a money transfer to take place very quickly, about 1 second or less, while Dash's block processing time is an average of 2 and a half minutes.
InstantX: Former name of InstantSend. Investor: Means investor.
IoT: Abbreviation for Internet of Things, meaning smart devices such as smart washing machines, smart cameras, smart refrigerators... these smart devices can connect to the Internet like computers. It helps with remote management and monitoring, and helps these devices operate automatically and independently.
Keepkey: This is a brand of a hardware wallet.
Key: Means key. In the field of digital currency, people use public key encryption technology and digital signatures. Public key encryption means using two separate keys, one to encrypt data and one to unlock it. Cryptocurrency uses a transformed public key to be used as a receiving address, and a private key to send money. In the field of digital currency, Key often refers to a private key.
KYC: This stands for Know Your Customer, which means a regulation that requires financial institutions to know about their customers. This regulation is a way for governments to prevent money laundering or other crimes in money transfer transactions.
Ledger: A ledger in accounting. In the digital currency field, all digital currency transactions are recorded in a database that is similar to an accountant's ledger.
Mainnet: Is the official network. In the digital currency field, people use two different networks, one is the official network and the other is the test network. These two networks operate the same and use the same software, the only difference is that they have options when running different software. The official network connects wallet software together and is used for normal transactions, while the test network is used for programmers to test, write software, check for errors and test the features of the software.
MASF: When the majority of miners are upgraded to activate the new rules it is called Miner Activated Soft Fork (MASF)
Marketcap: The total market value of a coin. This value is calculated by multiplying the most recent matching price by the total number of coins circulating on the market of a certain coin. This value can fluctuate depending on the market demand between buyers and sellers at each point in time.
Masternode: A network node in the peer-to-peer network of Dash, a masternode needs a little more conditions than normal network nodes, to run a masternode, its owner must deposit 1000 Dash and have a static IP address running in the data center and that computer needs to have a strong enough configuration. Dash masternode is used for value-added services on the Dash network such as PrivateSend, Instant-Send, Decentralized Governance..
Miner: A coin miner or person who operates coin mining machines to make a profit by providing computing power to perform transaction validation for a digital currency network.
Mining: Coin mining
MNO: Stands for Masternode Owner which means the owner of the Masternode.
Multisig: This means a wallet that uses multi-signature technology, which means a wallet that requires multiple keys to be used to transfer money. A multisig wallet is used by an organization or a company. Suppose that wallet has 3 people with keys to transfer money and requires at least 2 people to sign for the transfer to be successful. Similarly, there may be a rule that the wallet needs 5 keys and a minimum of 3 keys to be able to transfer money. Dash has this ability because it inherits from Bitcoin, many cryptocurrencies that do not inherit from Bitcoin do not have this ability.
Node: A network node is a piece of software running on a computer that participates in a network with other computers running the same software on a peer-to-peer network. On a peer-to-peer network, each node is considered an equal to each other.
Open source: Open source. Open source is often talked about in the software field where programmers make the source code of their software written publicly available online for everyone to see and use.
On-chain and Off-chain: These are two terms that are often used together to refer to activities that occur on the block chain (On-chain) and outside the blockchain (Off-chain). On-chain activities always ensure consistency, integrity, and transparency, while off-chain solutions do not ensure integrity and can be audited.
Paper wallet: Is a cryptocurrency wallet printed on paper for storage purposes outside the computer, this helps prevent it from being stolen by hackers.
Peers: Refers to peer network nodes in a peer-to-peer network.
Poloniex: Is the name of an exchange that trades many different digital currencies, especially Altcoins.
Pool: This term is used for miners, that is, providing their equipment to validate transactions of a cryptocurrency and in return they are paid. When mining is joined by many people, competition becomes difficult and it is very difficult to win. If they do not join forces and share the risk, some people will mine for a whole year without finding a block. Therefore, many miners can pool their computing power to search together to receive the reward. If one of the miners finds a block, it will be divided equally among the members of the group depending on each person's computing power. Thus, the probability of winning the block for the whole group is high, but it is divided equally, so the miner gets a small reward to cover the costs. Pool is a way to gather many miners to mine together and share the reward. Usually, with popular coins like Bitcoin, each Pool can have thousands of different miners/mining machines, or even more.
Private key: Means private key or secret key. In the field of encryption, there is a field called asymmetric encryption or public encryption. In this field, to encrypt and decrypt information, we need 2 keys, one to lock (encrypt information) and one to open (decrypt information). The key used to encrypt is called the public key, which can be provided to everyone we want to receive information in encrypted form from them, while the secret key (also known as the private key) used to decrypt is kept private, when the information is encrypted with the public key, only those with the secret key can decrypt to read the message. That secret key is called the Private key (also known as the secret key) and the public key is called the public key.
PrivateSend: This is an anonymous money transfer service of Dash. Dash was developed from Bitcoin, so it inherits the money transfer service with transparency and semi-anonymity of Bitcoin. That means Bitcoin money transfer transactions do not contain information about the sender and receiver's names, but instead have addresses which are a string of keys. However, if we know a person's address, we can know how much balance that address has and how it transacts with other addresses. The PrivateSend service helps ensure privacy by obfuscating the input and output sources to help ensure information is private and people have no way to trace the origin of a person's money as well as know who else he transacts with.
Proposal: Means a proposal. In the Dash ecosystem, programmers, programming teams, marketing... can propose a project that adds value to the Dash ecosystem and masternode owners can vote on it. If a proposal is voted on, the owner of that proposal will be granted a certain amount of capital so that he or his team can finance the work. This is a rather interesting superior feature of Dash that helps this ecosystem work like a decentralized automated organization.
Protocol: Means a protocol or standard way for parties to communicate with each other, usually computers can work with each other through a network. Usually for computer networks, there are network protocols such as TCP/IP, IPX/SPX... and cryptocurrency systems also have protocols such as bitcoin protocol, dash protocol... so that components participating in systems with the same protocol can work and communicate with each other.
Proof of Work - PoW: Translated into Vietnamese, it means to prove the ability to work, this is a technique to select which miners are worthy of being given the right to create blocks and receive rewards for validating transactions. It is also a way to encourage users to invest in machines to validate transactions and ensure the security of the payment network. This technique allows those with faster computing power (hash function) to have more opportunities to mine and receive rewards. By competing to mine by upgrading faster equipment, the ability to ensure security for the payment network is even higher.
Proof of Stake - PoS: This is another technique used to validate transactions, but instead of competing for computing power to validate and receive rewards, this technique prioritizes those who hold a larger and longer amount of coins in their wallets. This technique does not use mining machines and does not compete for computing power for mining, so it saves costs for equipment and energy for the machine to operate, but it only prioritizes those who initially have a lot of coins and turn on the wallet software for a lot of activity. This does not create motivation for latecomers and the reward is based on the number of coins first, so it does not create competitive motivation for participants. There is much debate about the pros/cons between Proof of Work and Proof of Stake, but so far no coin using Proof of Stake has been successful.
Proof of Service: This is a technique used in Dash. It is not used for validating transactions, creating blocks but a technique that helps users invest in machines and stake a certain amount of coins to provide technical infrastructure for value-added services for the Dash ecosystem. This technique creates incentives for machine participants to create infrastructure for the second-tier network, that is, Masternode network nodes.
PSP: Payment Service Provider. PSPs act as bitcoin agents for merchants accepting online payments.
Public key: As explained in the Private Key section, the Public key is the key used to encrypt information. Cryptocurrency systems do not use information encryption directly but use an application of information encryption, which is digital signature technology. This technique helps ensure that information remains transparent but is not forged. The public key is used as an address (not using this key directly but encrypting it in an easy-to-read form), and the private key is used as a key to transfer money.
Pump: Pump money to buy a certain coin, this can make the price of that coin increase if many people pump money to buy it.
Pump and Dump: Means pumping money in to buy then sell to make a profit without wanting to hold it for a long time. A coin called Pump and Dump is a coin that is not worth holding for a long time but can only make a profit in the short term.
QR Code: QR code is a data represented in the form of a 2D image. Scanners can easily translate this image into data. People often represent bitcoin addresses in the form of QR codes for handheld devices such as smart phones to scan.
Quorum: The minimum number of people who must vote for an election to be valid. In decentralized technology (DAO), voting by participating factors (which can be agents, software running on individual computers) can automatically participate in voting for certain conditions.
Rig: In the field of coin mining, a rig is a mining rig, or a rig consisting of a computer with a certain number of graphics cards used for coin mining.
Scaling: Is the expansion of a system (usually computers and software) to meet a greatly increased demand for access.
Secret key: Also known as Private key is a secret key, in the field of cryptocurrency, the secret key is used to send money and prove that you are the owner of the wallet.
SEPA: One European Payments Area. SEPA is designed as a European Union payments integration agreement, making it easier to transfer money between countries using the Euro.
SHA: Is the name of a hash algorithm, it stands for Secure Hash Algorithm. SHA algorithm has many versions such as SHA-1, SHA-2, SHA-3
Shapeshift: This is the name of a service that allows you to convert one cryptocurrency to another. For example, you can convert from Bitcoin to Dash. This company acts as an exchange.
Signature: Signature. Here we are talking about electronic signature. In the field of digital currency, electronic signature technology is widely applied. Spending money is essentially signing a money transfer message.
Solo mining: This is mining coins alone, usually in the early stages when a new digital currency is launched, when there are few miners and the chance of winning is higher, so solo mining does not have to share luck with others. On the contrary, when there are many miners, people gather together to form pools because the winning mining rate is very low, even for years without mining, so gathering into coins reduces the risk and has funds to continue mining. Usually, professional coin miners hunt for new coins when they are first launched and mine in this solo way.
Smart contract: Smart contract. This is a new concept of embedding executable code like software programs, which is embedded in transactions so that depending on the situation, the transaction can be executed under different conditions. For example, a smart contract can be used for a group of people's lottery game according to the lottery results, everyone transfers money and uses the smart contract until 7 pm when the lottery results are available, whoever chooses the last 2 numbers that match the special prize will receive the entire amount. This is a way to play the lottery without a bookie. Instead of only receiving 70% of the total amount, the winner can receive all the money from all players.
Speculation: Speculation (see also Investment and Speculation in Cryptocurrency) Speculator: Speculator, a person who speculates.
SPV: Stands for Simple Payment Verification which means a technique that allows lightweight wallets (that can run on mobile phones) to verify transactions without downloading the entire blockchain. SPV wallets only need to download the block header, which is much smaller than the entire block.
Testnet: Means test network. Testnet is a network of network nodes running the same new software as the mainnet but with different parameters to help software developers, testers... test and check for errors during application development without affecting official transactions.
Transaction: Means transaction, it is equivalent to transferring money from one address to another.
Tresor: This is the name of a type of hardware wallet.
Troll/Trolling: Is an annoying or provocative post on the internet that aims to anger or disappoint others. Troller: Is a person who posts annoying or provocative content that aims to annoy or anger others.
Trustless: No need for trust or confidence. The word trustless here does not mean no trust but means no need to trust anyone. Usually in the traditional economy, transferring money from one person to another online must be done through an intermediary (which can be just a machine) of one or several banks. But digital currency technology allows us to transact directly with each other without having to trust any intermediary.
Turingcompleteness: A programming system or language that can be used to perform any calculation or computational program. Although Bitcoin also has the ability to have transaction codes to execute conditions, the script in Bitcoin is quite simple, on the contrary, Ethereum allows transaction codes to have the ability of a complete programming language, which means it can be programmed to handle any problem. Turing is the name of the British mathematician named Alan Turing who laid the foundation for the computer industry.
Tx: Abbreviation for Transaction. TxID is the transaction code.
Unbank: When referring to a person, it means that person does not use a bank, but usually uses cash transactions. This word also refers to poor people or people in remote areas where there are no banking services.
Verify: The word date means to check. For transactions, verify means to check whether a transaction is valid or not, verified means to have been checked. For the field of encryption and digital signatures, verify means to check whether the digital signature is a valid signature on a message or not.
VirtualBox: This is the name of a virtual machine emulator software from Oracle. This software can be used for free and is very useful if you want to test a new coin without worrying that hackers can install malware into the new coin's wallet to steal the coins you have.
Volatility: Market volatility reflects the measurement of price fluctuations over a period of time for a traded financial asset, including bitcoin.
Volume: Means the volume of transactions, usually people often calculate the volume of transactions of a coin within 24 hours. For example, when talking about the volume of Dash, people mean the value of Dash traded within 24 hours. It can be converted to US dollars when talking about transactions on coin exchanges or just the volume of coins traded in the network within 24 hours when talking about the trading volume of a coin.
VPN: Abbreviation for Virtual Private Network, which means virtual private network. A private network is a network reserved only for certain computers in a certain area, but thanks to encryption technology and popular Internet connection, we can set up a virtual private network based on transmission encryption so that only computers with a key installed can access this private network and share data with each other. Although they can connect to the global network, computers without a key cannot access that network because the encrypted data can only be read by computers in the network.
VPS: This is an abbreviation of Virtual Private Server, which means a virtual private server. Instead of having to rent a server to run a website or run a masternode, you can use this virtual server service. With a virtual server service, you only need to pay for your needs without wasting money. For example, at the present time, you only need to rent a virtual server at a cost of about 10 USD/month for a masternode instead of renting a physical server at a cost of several hundred USD/month.
X11: The name of the hashing algorithm used in the Dash digital currency. The X11 algorithm is the use of 11 hashing algorithms connected together, the output of the hash function with this algorithm is used as the input for the hash function of the other algorithm. This is a way to increase the difficulty of coin mining as well as ensure the security of transactions.
WIRE TRANSFER: Transfer money from one person to another. Bank transfers are commonly used to send and receive traditional ('fiat') currencies from bitcoin transactions.
Sign up for cryptocurrency trading via the following link to receive 20% transaction fee rebate:
