Rising cryptocurrency markets may once again arouse the interest of new investors. The crypto space has its specifics and it takes some effort to acquaint oneself with the terminology. Decryptionary has been created to impart the basic information you need to start understanding Bitcoin better.
Also read: How to Generate QR Codes for Crypto Payments
Get a Handle on Crypto Buzzwords
Decryptionary provides concise definitions of many terms that are widely used in the crypto industry. You have the option to look up a specific word or phrase relating to cryptocurrencies and distributed ledgers using the site’s search bar. Alternatively, you can access the full contents of the online dictionary where entries are listed by first letter or number.
You’ll be able to understand the meaning of terms such as blockchain explorer, total supply, peer to peer, proof of work, public key, decentralized exchange, escrow, zero confirmation, and many more. If you can’t find a word you are searching for, you can also suggest new entries.
The website offers thematic word lists as well. For example, the “25 Common Cryptocurrency Words You Should Know” page has been prepared for beginners and it explains mining, hashing, wallets, keys, and addresses. There’s also the “20 Blockchain Words You Should Know” list which contains definitions for block, sidechain, fork, and node.
Decryptionary doesn’t stop there. If you want to dive deeper into digital asset trading, it will help you learn the characteristic slang including words like hodl, fud, fomo, and jomo. Mooning, flippening, shilling and shitcoin are some of the other notable entries. The platform explains what a bull trap is as well as what’s common between the Byzantine generals problem and Bitcoin.
If you have more questions, you can also refer to Bitcoin.com’s Knowledge Base which provides an extensive library of Bitcoin resources. There you’ll find out how to get started with cryptocurrencies by downloading a wallet and buying your first bitcoin cash. The portal will also help you choose a cryptocurrency exchange, avoid fraud, set up cold storage, understand bitcoin mining, and much more.
Can you recommend other sources of basic information about the crypto space? Let us know in the comments section below.
Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.
Images courtesy of Shutterstock, Decryptionary.
Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.