51% Attack Refers to a situation where a person or group gains control of more than half of the network’s mining power (hash rate). Those who gain this power can interfere with certain transactions on the network without authorization.
Address An encrypted set of characters used to send and receive payments on cryptocurrency networks. It functions the same as an IBAN number for bank accounts.
Altcoin The general name given to all cryptocurrencies other than Bitcoin. It is used as an abbreviation for “Alternative Coin.”
Arbitrage A trading practice that involves taking advantage of instantaneous price differences of the same asset across different exchanges. This applies not only to cryptocurrencies but to all traded commodities.
ASIC Miner High-performance and low-cost devices specifically manufactured for mining a particular cryptocurrency.
Bear Market A term indicating that the market is on a downward trend and is expected to continue declining in the coming days.
Bitcoin The first cryptocurrency ever created. Its abbreviation is BTC and its symbol is ฿.
Bitpay A company that provides the ability to make payments using Bitcoin or other cryptocurrencies.
Blockchain The underlying technology behind Bitcoin and most cryptocurrencies. For detailed information: https://www.bitcoinsistemi.com/blockchain-nedir-nasil-calisir-ne-ise-yarar/
Block Reward When a miner on the network successfully processes a transaction, the system grants them Bitcoin as a reward. These rewards given as a result of the process are called block rewards.
Bull Market A term indicating that the market is on an upward trend and is expected to continue rising in the coming days.
BTC The abbreviation for Bitcoin. Similar to how USD is the abbreviation for the US Dollar.
Fork An update to a cryptocurrency may not be adopted by everyone on the network. This results in two different blockchains between those who update the system and those who do not, leading to the creation of two separate cryptocurrencies. For example, Bitcoin Cash and Bitcoin Gold were created after a fork of Bitcoin.
Cryptocurrency The English term for digital or virtual currency secured by cryptography.
Death Cross Death cross is a situation that occurs when a short-term moving average crosses below a long-term moving average. This situation is interpreted as a signal that a downward trend will begin in the markets.
Difficulty The numerical value of the time required to produce a block during cryptocurrency production. The harder it is to solve the block problem, the longer the process takes.
ERC20 ERC20 is the set of rules that all cryptocurrencies using the Ethereum network must follow. Altcoins produced on the Ethereum network by applying these rules can be stored in wallets that support this standard.
FOMO FOMO (Fear of Missing Out) is a term also used in relation to cryptocurrencies. It refers to the situation of buying an asset that is rising in value due to the fear of “missing the opportunity.”
FUD (Fear, Uncertainty, Doubt) A term frequently heard in cryptocurrency markets, referring to the act of fueling people’s anxieties to trigger panic selling.
Genesis Block The name given to the very first block created in a blockchain.
Golden Cross Golden Cross is a situation that occurs when a short-term moving average crosses above a long-term moving average. This situation is interpreted as a signal that an upward trend will begin in the markets.
Halving The block rewards provided by a cryptocurrency decrease at certain intervals. This event is called halving. For more detailed information: https://www.bitcoinsistemi.com/bitcoin-halving-yarilanma-nedir-daha-once-fiyati-nasil-etkiledi-simdi-nasil-etkiler/
Hashrate The hardware performance of mining computers, usually expressed as Hashes/Second. Hashrate is the speed at which a problem or mathematical operation in blocks is solved.
HODL Originated as a misspelling of the word “hold.” It refers to holding a cryptocurrency for a long time and waiting without selling.
ICO (Initial Coin Offering) The public offering of a new cryptocurrency is called an ICO.
Fiat Money The name given to official currencies issued and used by governments today.
Cryptography Mathematical methods used for encrypting data or decrypting such information.
Mining The computers that perform all transfers and necessary operations for the system to function in a cryptocurrency network are called miners, and the process is called mining.
Node The name given to each individual computer within a blockchain network. In essence, every miner is a node.
Proof of Stake A method used in some networks to validate cryptocurrency transactions. This method is based on the amount of cryptocurrency held rather than computational power.
Proof of Work A method where miners use computers to perform mathematical operations to discover new blocks. This is the traditional form of mining done with hardware.
Rally A rally is the name given to a continuous movement of prices in the market above expectations.
Satoshi (SAT) Bitcoin can be divided up to 8 decimal places. The Satoshi unit is used to express such small fractions. Example: 0.00000001 Bitcoin equals 1 Satoshi.
Wallet The digital tools or files where cryptocurrencies are stored are called wallets.
Chain Linking A situation where two different blockchains are connected to each other. Two different blockchains communicate with each other to enable data exchange.
