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The definitive glossary of Cryptocurrency and Blockchain acronyms

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.

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