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By Matthew Beedham
Welcome to Hard Fork Basics, a collection of tips, tricks, guides and tips for updating you in the world of cryptocurrency and blockchain.
Blockchain and cryptocurrency can sometimes be a daunting place and sections of jargon, specialist terminology and acronyms do not really help things. Sometimes it seems that complex terms are used only to confuse people. But do not worry, Hard Fork has turned your back on you.
Below you will find a list of industry acronyms and what they represent. We are constantly developing dealers of all these terms, so in some cases there may be a deeper immersion on what the terms mean. Be sure to check, as we will add to this list when new terms are invented.
General terms of blockchain
PoW – Proof of work
PoS – Proof of mail
DPoS – Delegated Proof of Stake
PoA – Proof of authority
BFT – Tolerance to Byzantine errors
DAG – Direct Acyclic Chart
SC – Smart contract
EVM – Ethereum Virtual Machine
ERC – Request for Ethereum Comments, is the former acronym for Ethereum-based tokens as the ERC20 standard.
DAO – Decentralized autonomous organization
DAPP – Decentralized application
SegWit – Segregated Witness
LN – Lightning Network
SoV – Value shop
MoE – Medium of exchange
UaA – Unit of account
Hardware
CPU – Central processing unit
GPU – Graphics processing unit, often used in reference to video cards
ASIC – Integrated circuit specific for application
Financial terms
ETF / ETP – Exchange Traded Fund or Exchange Traded Product
OTC – Over the Counter
CEX – Centralized exchange
DEX – Decentralized exchange
PnD – Pump-and-Dump
ICO – Initial Coin Offering
ITO – Initial token offer
STO – Securities token offer
MCAP – Market capitalization
FIAT – Official currency issued by the government, such as the British pound, the US dollar or the euro.
MEME culture
HODL – Meme which is followed by a simple mistype of hold.
FOMO – Fear of losing
BTFD – Buy The Fucking Dip
DYOR – Make your search
FUD – Doubt of uncertainty of fear
BUIDL – A misspelling of the word "build". Often used to tell the world that you are "trying to build the future".
Regulatory bodies
SEC – Securities and Exchange Commission
FTC – Federal Trade Commission
CFTC – Commodity Futures Trading Commission
FDIC – Federal Deposit Insurance Corporation
DOJ – Department of Justice
Various terms
SAT – Satoshi. A Satoshi is the smallest denomination of a Bitcoin, it is one hundredth of a millionth, or 0.00000001 BTC.
Tx – Transaction
TxID – Identification of the transaction
TPS – Transactions per second
ZK – Zero knowledge
P2P – Peer to Peer
ALT – Alternative cryptocurrency, often used as a prefix for Altcoin
WP – White paper
2FA – Two-factor authentication
DDoS – Distributed Denial of Service
IPFS – Interplanetary file system
PKI – Public key infrastructure
NONCE – Number used only once
HW – Hardware Wallet
Well, there you have it, even if you're still not clear on what some of these terms actually mean, at least you know what they represent. I hope it helps you keep your search on track.
The article was originally published on The Next Web.
