I made this page as a quick Cryptocurrency Dictionary of sorts of the many general cryptocurrency related terms and definitions that may appear in my posts.
Since the subject of cryptocurrencies and mining intertwine so much with computer technologies, I also included many common computer related terms. A few of the more common trading acronyms are included as well, since most people who are involved with cryptocurrencies will also trade at some point and may be unfamiliar with the terminology.
This page is not meant to be a comprehensive list, rather it acts as a supplement to my normal posts to help provide more detail about certain terms or acronyms than would be appropriate in the posting. This list is intended to be informational only and may not constitute all meanings of the listed terms, but only serves as a general overview for our readers. If you require a more precise or legal definition of a term please consult an authoritative resource.
I will add to the Cryptocurrency Dictionary and make needed changes on regular basis, so for now consider it a work in progress.
ASIC – Application Specific Integrated Circuit refers to an IC or hardware customized for a particular use, rather than intended for general-purpose use. In cryptocurrency the term usually refers to mining hardware that has been designed and specifically build for a particular algorithms, such as SHA256 for Bitcoin mining versus more general purpose hardware such as a GPU that is more flexible but might not be as efficient at a particular task.
BAT – (Coin) Basic Attention Token, a token used with the Brave browser.
BCH or Bcash – is short for Bitcoin Cash, a fork of Bitcoin that launched in August of 2017.
BIOS – Basic Input Output System (BIOS) is stored in non-volatile memory and is used to load the basic instructions to perform hardware initialization during the boot process. It can also provide run-time services for operating systems and programs.
BTC – Bitcoin BTC is short for Bitcoin and is often used as Bitcoin’s trading symbol on exchanges, as well as a comment shorthand abbreviation often seen on forums and in chats.
CPU – Central Processing Unit also sometimes referred to as simply “processor” is a single IC or “chip” within a computer that handles the basic arithmetic, logical, control and input/output (I/O) operations specified by a set of computer instructions. In modern Desktop PCs this will typically be either an Intel or AMD processor, such as the Intel Pentium series.
DOGE – Dogecoin DOGE is short for Dogecoin and is often used as Dogecoin’s trading symbol on exchanges, as well as a comment shorthand abbreviation often seen on forums and in chats. Doge coin was initially created as a joke and spoof of Litecoin and other alts, but due to the popularity of the Doge meme it took on a life of its own.
EEA – Enterprise Ethereum Alliance
EOS – (Coin) EOS
ETC – Ethereum Classic ETC is short for Ethereum Classic and is often used as Ethereum Classic’s trading symbol on exchanges, as well as a comment shorthand abbreviation often seen on forums and in chats. Ethereum Classic is a fork of Ethereum that occurred due to the roll-back of the DAO hack.
ETH – Ethereum ETH is short for Ethereum and is often used as Ethereum’s trading symbol on exchanges, as well as a comment shorthand abbreviation often seen on forums and in chats.
ERC20 – Ethereum Request for Comments #20, smart-contract token standard.
FOMO – Fear of Missing Out is often used to explain the sudden inrush of buy orders when a coins value begins to increase. People see an trading opportunity and get in to take advantage of the upwards price movements before it ends.
FUD – Fear/Uncertainty/Doubt Often negative sentiments spread in forums and social media to try to drive down coin prices.
Heat sink (heatsink) –
ICO – Initial Coin Offering an initial offering of a cryptocurrency token usually at a discounted rate to provide for early funding for a project. The term, while unique to cryptocurrency is liekly inspired by IPO (Initial public Offering) used in the financial world.
An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin. – definition from Investopedia
LTC – Litecoin (Coin) LTC is short for Litecoin and is often used as Litecoin’s trading symbol on exchanges, as well as a comment shorthand abbreviation often seen on forums and in chats.
RVN – (Coin) is short for Ravencoin and is often used as Ravencoins’s trading symbol on exchanges, as well as a comment shorthand abbreviation often seen on forums and in chats. Ravencoin was launched in January of 2018 and is the first cryptocurrency to utilize the x16r algorithm.
SEC – Securities and Exchange Commission (US)
TA – Technical Analysis The study of of the past performance of price action (usually with charts) to predict the near future movement.
TDP – thermal design power or thermal design point, is the maximum amount of heat generated by a computer chip or component (normally used in CPU or GPU specifications) that the component combined with its related cooling system (heat-sink and/or fans) can effectively dissipate during normal operation.
VBIOS – A Video BIOS or VBIOS for short is the Basic Input Output System (BIOS) of a graphics card or the integrated graphics controller in a computer.
X16R – is a cryptocurrency mining algorithm used by Ravencoin. The x16r hashing algorithm consists of 16 hashing algorithms operating in chain fashion with the ordering dependent on the last 8 bytes (16 nibbles) of the hash of the previous block. You can review the whitepaper on x16r algorithm here.
X16S – is a cryptocurrency mining algorithm used by Pigeoncoin. The X16S (shuffle) hashing algorithm is derived from X16R, bit differs in that the X16S algorithm uses the last sixteen digits of the previous block hash to reorder a list containing all sixteen algorithms You can review the whitepaper on x16s algorithm here.
XRP – (Coin) Ripple