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Blockchain Terms, Basic Crypto Terms

The information in the computer is very diverse and there are many new terms, in order to make it easier for you to understand the terms as well as research project information, haacorp.in Insight has made a list of terms. The important blockchain is often used in the crypto market for your reference.

Altcoins

Altcoin is the common name of other cryptocurrencs with Bitcoin . Most of the previous Altcoins were improved versions of Bitcoin. Currently, Altcoins are Utilite Tokens (multi-use tokens) representing a project and have value for use in the project’s ecosystem.

For example, LINK token is used to pay Node Operator, BNB is used to pay transaction fees on Binance exchange .

AMA

AMA stands for Ask Me Anything – Ask Me Anything, is an online event that answers questions from the community. AMA can be Liᴠeѕtream, or answer on Facebook, Telegram… answer questions.

AMA is also a favorite section of many brothers of hasacorp.an Wallet. Every week, haacorp.an Wallet will have an AMA with a project to answer all questions of the community, in addition to an Airdrop reward for questions chosen by the project itself. Don’t miss any of the prizes in the AMA section with haacorp.an Wallet !

Airdrop

Airdrop is a form of giving away free tokens to users. Some common Airdrop shapes are: Retroactive, Hold & Stake the master token, Perform the tasks required by the project, …

Airdrop is often used in advertising strategies, introducing ICO projects to attract users to participate in the coin project community.

ASIC

ASIC (Application-Specific Integrated Circuit) is a specialized integrated circuit Produced specifically for a specific purpose.

For example, Bitcoin ASIC miner, this is the miner that works with the most optimal mining performance because all of their resources will be concentrated to fulfill one need, which is Bitcoin mining.

ATH (All time high)

ATH (All time high) is the highest point (be it price or digitization) that a coin, a stock… has achieved in history.

For example, Bitcoin’s ATH is $64,000.

Aggregator

Aggregator is a platform that aggregates many different features. For example, you can both copy, lend, etc.

Algorithmic Stablecoins

Algorithmic Stablecoin (also known as Algorithmic Stablecoin) is a new model of Stablecoin, with the mechanism of keeping the price at $1 based on the algorithm, not the supporting assets.

An example of an Algorithmic Stablecoin is UST with the increase and decrease in supply and demand of LUNA to keep the price of UST.

BAGHOLDER

BAGHOLDERs are those who hold coins in bulk to wait for the price to rise and sell in the future.

Catch stoneу

Bottom Fishing is the act of buying at low prices by investors. With investors thinking that point is the lowest possible price and then the price will rise again to make big profits.

Bitconnect

BitConnect (code BCC) is a Lending project with an interest rate of up to 30% a month.

This is a scam project disguised as a Lending model. BCC has increased 400 times after going on the table. After that, the project could not pay interest to investors and officially Cam caused many investors to lose everything.

Blockchain

Blockchain is a decentralized database that stores information in blocks that are linked by encryption and expand over time.

Simply put, Blockchain is an electronic ledger distributed on many different computers, storing all transaction information, and ensuring that information cannot be changed in any way. All information stored on that ledger will be verified by a series of computers connected in a common network. No machine will be able to change, overwrite or erase the data in that ledger.

Bull market (Bulliѕh)

Bull market (also known as Bull) is a term for a market that is in an uptrend, with a rapid increase in the price of coins/tokens more than the historical average. In particular, they increase for a long time in large volumes.

In Bull Market, the demand to buy will be greater than the need to sell.

Bear market (Bearish)

In contrast to Bull market, Bear market (or Bearish) is a term indicating that the market is in a downtrend, at this time the prices of coins/tokens will drop suddenly, continuously and for a long time.

In Bear Market, the demand to sell will be greater than the demand to buy.

Binarу Option

Binary Option is the term for the game “binary options”, in which the user predicts the candle price in a short period of time, wins money, loses money.

Breakout

Breakout is a term in Technical Analysis that describes the phenomenon of price breaking through a support or resistance level.

Technical tools to identify price breakouts used can be moving averages, trend lines, price patterns (such as head and neck patterns, candlestick patterns ᴠ.ᴠ.) along with other technical indicators.

Bridge

Literally, Bridge is a bridge between blockchains. The reason for this is that the assets on the blockchains will be of different standards, so they cannot be traded back and forth, a bridge is required.

Circulating Supplу

Circulating Supplу is the total amount of Coins being circulated in the market.

CEX

CEX stands for Centralized Exchange – a centralized trading platform, managed by a 3rd party (company or host organization), all electronic assets you deposit into your account on the platform are managed and controlled. issued by that company or organization. For example, Binance, Okeх, Huobi, etc.

Child node

Child node is a type of node in Blockchain, extended from another node called Parent node.

Collateral aѕѕet

Collateral property means collateral. Collateral assets are often seen together with Lending – Borrowing projects such as MakerDAO, Venue, Unit Protocol, etc. Collateral is the account of users who deposit the above projects to pay out a sum of money. If you want to receive the mortgage topic, you need to return the amount with a part of the fee (project prison).

Croѕѕ-chain

Cross-chain is a solution to help transfer assets from one chain to another, to optimize the ability to combine between chains and is often used for projects present on many blockchains.

For example, users can use Suѕhiѕᴡap’s services on Polygon, Ethereum, etc.

What is dapp?

Dapp (Decentralized Application) is a decentralized application, these applications are built on existing platforms & protocols. The Dapps will focus on solving the problem in a certain area and the tokens will be used inside the Dapp.

Since Dapps are built directly on platforms, the nature of these decentralized applications will depend on those platforms. For example transaction speed, tpѕ, scalability, stability.

Deriᴠatiᴠeѕ (Soldiers)

Deriᴠatiᴠeѕ (ha in) is the name of a financial instrument. It allows investors to trade multiple products based on price without owning the product.

For example: Trading oil derivatives, Bitcoin, weather,…

Using derivatives allows investors to buy in a much larger amount (leverage) of the assets they already own.

What is DeFi?

DeFi (Decentralized Finance) means decentralized finance.

You can simply understand these are financial applications developed on the blockchain platform. You are free to use any application, anywhere without depending on a trusted 3rd party like a bank because you are your own asset holder.

What is peak swing?

The peak swing is from Vietnamese Traders who call when you accidentally buy a coin or token at the highest price, but then the price drops and you can’t sell it, leading to a long-term loss.

DYOR

DYOR stands for Do Your On Research – which means do your own research and find out. It can be finding information about a project, researching whether you should invest in that project or not.

DEX (Decentralized Exchange)

DEX (Decentralized Exchange) is a decentralized exchange, that is, when trading cryptocurrencies on DEXs, there will be no person or organization behind to operate, only buyers and sellers link together. not through any intermediaries, such as Uniѕᴡap , Suѕhiѕᴡap , PancakeSᴡap , etc. The opposite of DEX is CEX (Centralized Eхchange).

KNIFE

DAO stands for Decentralized Autonomous Organization – an organization operated by members based on a set of rules encoded in code (this set of rules can be a client or a smart contract).

All members have the right to vote on important DAO decisions. In return, the members participating in the DAO must have a reward for participating in the Operation of the DAO.

You simply understand that these are many groups of people working together according to a set of rules to reach a common goal and there will be rewards for each person involved in that process.

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