Cryptocurrency terms you need to know – II

51% attack – 51% attack is a situation when more than half of the network is operated by a person or group, giving them complete takeover of the network.

Block height – Block height is a number of blocks connected from the first block on the blockchain.

Block reward – Block reward is reward given for hashing or solving mathematical equation related to the block. Mining reward is 25 bitcoins per block.

Halving – Halving is a reduction of reward you will get after a period of blocks are mined. Every 210,000 blocks are mined, the reward is halved.

Hashrate – Hashrate is the speed of solving the mathematical equation and discovering a block. ASICS is a tool made to increase the hashrate.

Multisig – Multisig or Multisignature refers to having more than one signature to approve your transaction. This is beneficial for securities of companies receiving money through coins.

Node – Node is a computer that is connected to the Bitcoin network.

P2P– p2p stands for peer to peer.

Whale – someone that owns big money or cryptocurrency.

Fungible – Fungible is 2 or more things that has identical value.

Bullish – Bullish is an expectation that the price will rise.

Bearish – Bearish is an expectation that the price will fall.

ICO – ICO stands for Initial Coin Offering. It is similar to IPO in stock markets where startups issue their token as an exchange of Ethereum.

FOMO – FOMO stands for Fear Of Missing Out. It indicates when the price starts to rise dramatically, and the investor feels they have to invest in them together lately.

ROI – ROI stands for Return on Investment. The percentage shows how much an investor has earned or lost. 100% ROI means the asset has been doubled from the initial investment.

Flippening – It is a name of an event, which not yet happened, of when market cap of Ethereum surpasses Bitcoin.

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