✍️ Crypto Slang Terms #3: Your Guide to the Cryptoverse
🔥 Welcome back with Crypto Slang Terms part 3 with another 5 common words used in the blockchain world!
Bitcoin
The first decentralized cryptocurrency, released in 2009.
Bitcoin maximalist
A person who defends bitcoin against all other crypto assets.
Blockchain
A type of decentralized public ledger which contains records/transactions and forms the basis for how many cryptocurrencies work, using cryptography to link together blocks in a chain so that each block is linked with the previous one chronologically, preventing any tampering or revisionist history from occurring since it would be recognised immediately by other users on the network.
👉 Example: BNB Chain, Ethereum, Optimism, Aptos
Block height
When discussing blockchain networks (such as BitcoinBTC), this term refers to how many blocks make up their total height/length starting from block #0, also called its genesis block, which was mined during the first round of updates to this network.
👉 Example: the block height for the Bitcoin blockchain exceeds 677,350 blocks on April 2021
Block reward
A type of monetary incentive provided by cryptocurrencies whenever an individual mines a block successfully.
This is how miners make their profits, doing the work necessary in ensuring proper security measures are put in place so that these tokens cannot easily be hacked or stolen from them.
👉 Example: Bitcoin Mining, Ethereum Mining
💪 As you can see, the number of slang terms related to Blockchain is humongous! However, just with a little patience and a curious heart, you will find what you need to know in the following articles of BSCStation about Crypto Slang Terms!
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