#Dyor before #Apeing into a new project. Thank me later!
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How often have you come across terms like DYOR, WAGMI, FUD or FOMO without knowing exactly what they meant? Well, today that ends. In this article you will find a compilation of the most common terms found in the cryptocurrency world.
This is not a final compilation, and will be subject to frequent updates.
If you notice any terms missing or if you want to suggest updates to any of the terms, feel free to leave a comment to this article so I can analyze and publish an update.
An easy way to search through this article is by using the command Ctrl + F and type the word you want to search for.
Crypto Dictionary — Beta Version 1.0
Bitcoin is a digital currency which operates free of any central control or the oversight of banks or governments. Instead it relies on peer-to-peer software and cryptography. A public ledger records all bitcoin transactions and copies are held on servers around the world.
A digital gold currency (DGC) is an electronic form of money which is backed by gold reserves held in vaults by private agencies. The holders of any particular DGC can pay one another in gold, or currency units representative of gold held in physical form by the issuing company.
Crypto mining is the process by which new units of digital currency are created. … This is where Bitcoin mining comes in, the process by which new units of the currency are made, or “minted,” and introduced into the market.
Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin’s original reference implementation.
Satoshis, or SATs, are a fraction of a Bitcoin. Simply put, a Satoshi is more or less to a…