For example, if Bitcoin was trading at £14,000 at its peak within the last year, then a bear market would be from the point at which it dropped to £11,200 and remained below that value over at least a two-month period.īubble : A bubble can be described as a situation in which trade in an asset occurs within a price range which far exceeds the asset’s intrinsic value. The market trend during a bear market will show a 20% drop from the 12 month high for the investment in question.
Originally developed as the account method for Bitcoin, blockchains use what is known as distributed ledger technology (DLT), which records transactions across many computers, so that the record, or block, cannot be altered retroactively, without the alteration of all subsequent blocks and the consensus of the network.īear market : A term given to a period, in which the price of an investment falls over time. Originally designed as a new digital cash with finite financial model similar to gold, Bitcoin is now seen more as a store-of-value, due to its scaling limitations, coupled with most people choosing to “hodl” (hold) their balances.īlock : As the most granular unit that can be appended to a blockchain, a block contains records of transactions, and references the previous block, while to be referenced itself by the block that will follow.īlockchain : A generic term for digitised, decentralised public ledger of transactions used, in various forms, for all virtual currencies, and an increasing range of additional applications. It is considered the godfather of cryptocurrency, created by the mysterious and elusive Satoshi Nakamoto, and was released in 2009 following the global stock market crash a year earlier. Specific to cryptocurrencies, ASICs have been implemented to rapidly perform proof-of-work calculations.īitcoin : The original cryptocurrency, and the coin with the highest market share, market capitalisation, and coin price. In recent times, such ASICs are being used in, for example, computer networking, to optimize the high-speed transmission of data.
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Hundreds of altcoins exist, check out our full list of algorithms and coins for a comprehensive list.ĪPI : Application Programming Interface a communication convention agreed to be used between two computer programs to exchange information.ĪSIC : Application Specific Integrated Circuit electronics designed and produced to perform a single task.
This may be carried out for marketing or publicity reasons.Īltcoin : Any cryptocurrency that is not Bitcoin, such as Ethereum, Litecoin, Verge, Ravencoin, etc. One example of these is scrypt (pronounced s-crypt), which is the proof-of-work algorithm for the coins Litecoin, DogeCoin & FedoraCoin.Īirdrop : A distribution of virtual currency, usually for free, to a large number of wallets.
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Specific to cryptocurrencies, there are proof-of-work algorithms, which describe how to transform random numbers into potential solutions used to create transactions. Algorithm / algo: Just like in any other discipline, an algorithm is a set of rules to be followed in calculations or problem-solving operations.
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