Terms related to blockchain

1. 1、 Several circles of blockchain
currency circle: refers to the people who focus on currency speculation or even issue their own digital currency to raise funds. Generally speaking, blockchain project parties, exchanges and some blockchain media all belong to the currency circle
chain circle: refers to people who focus on the research and development, application or underlying protocol of blockchain. Without the technical support of the chain circle, the coin circle can not exist. In the future, the implementation of the blockchain scene will depend on the technology of the chain circle
mining circle: refers to the "miners" who focus on "mining"< Second, several investment behaviors of blockchain
currency speculation: similar to stock speculation, refers to the behavior of repeatedly buying and selling digital currency through trading platform in order to obtain high income
Soha: it's a transliteration of show hand, originally a term used in gambling games. It's the act of withdrawing all available chips at one time. When it comes to blockchain investment, it refers to investing all of your available assets in digital currency in order to speculate in money, which has the meaning of "bet your fortune"
Buddhist holding of cryptocurrency: it refers to the behavior of not caring about the price trend of cryptocurrency after holding of cryptocurrency. No matter how much the asset price of cryptocurrency falls, it will not rece the holding of cryptocurrency in hand
3. Segmentation of blockchain investors
banker: refers to the investor with strong capital volume, strong relationship network and the most informed information, who can influence or determine the price trend of a certain currency to a large extent
large investors: investors with abundant capital, but not as strong capital and relationship network as makers
retail investors: refers to the small amount of funds, small amount of trading, and unorganized investors< Four, blockchain investment common phenomenon
leek: is an image of metaphor, leek growth ability and adaptability are very strong, can be one after another in a large range of breeding. It is compared to some retail investors who do not know the market situation. Most of them are easily influenced by the investment sentiment. They buy at a high price and sell at a low price. Some people will lose money, and after they leave the market, new forces will enter. Like leeks, they will cut one crop and grow another soon
cut leek: it means that the dealer buys at a low price, speculates at a high currency price, sells at a high price after the retail investors come in and make a profit, and then smashes the plate to a low position. In this way, the retail investors will suffer losses and the dealer will make a profit. The makers and the big investors keep repeating this routine, that is, "cutting leeks", while the retail investors keep entering, the makers repeat the routine of cutting leeks
cut back: refers to the sharp drop in the price of digital currency, which is very huge, falling to half of the previous highest price. For example, when I buy a currency, the highest price of this currency is $100. After a while, I fall to less than $50. It can be said that my currency has been cut off
meat cutting: it refers to the behavior of selling stop loss in time when the price of digital currency falls in order to prevent the continuous decline from causing greater losses, so as to prevent greater losses in the future
being held up: it means that I spend a high price to buy a currency. After a while, the currency falls, and I don't want to sell it and stop loss in time. Instead, I choose to wait to see if the price can rise again. The waiting process is "being held up". In this case, I can be said to be held up
unwinding: it means that the purchased digital assets graally rise back after a round of sharp decline, and the price rising back exceeds the price when I bought them. At this time, I will not lose money when I sell these digital assets. This is unwinding
airdrop candy: refers to the free distribution of a certain amount of digital currency to users in order to promote the blockchain project at the beginning of the project. These free digital currencies are called "candy" by users.

2. The term blockchain comes from bitcoin, and it is also the underlying technology of bitcoin. In short, it is an account book with incentive system. In an open transaction, everyone can keep an account according to their computing power, keep the account book updated and the transaction going on, and those who successfully keep an account will be rewarded (bitcoin), Through such self motivation, the operation mechanism that does not rely on any company or organization is called blockchain

3. Currency circle: refers to the people who focus on currency speculation and even issue their own digital currency for financing. Generally speaking, blockchain project parties, exchanges and some blockchain media all belong to the currency circle
chain circle: refers to people who focus on the research and development, application or underlying protocol of blockchain. Without the technical support of the chain circle, the coin circle can not exist. In the future, the implementation of the blockchain scene will depend on the technology of the chain circle. With the popularity of blockchain technology, many related top domain names have been registered

Mining circle: refers to the "miners" who focus on "mining"

currency speculation: refers to the behavior of repeatedly buying and selling digital currency through the trading platform in order to obtain high income

suoha: it's a transliteration of show hand in English. It was originally a term in gambling games. It's the act of withdrawing all the available chips in hand at one time. When it comes to blockchain investment, it refers to investing all of your available assets in digital currency in order to speculate in money, which has the meaning of "bet your fortune"

Buddhist holding of cryptocurrency: refers to the behavior of not caring about the price trend of cryptocurrency after holding of cryptocurrency, no matter how much the asset price of cryptocurrency falls, it will not rece the holding of cryptocurrency in hand.

4. For now, blockchain seems to be an illusory word. In fact, there is no need to create such strange words. It's also called blockchain. It's just an instry. One by one. An organization. Chinese characters are enough. Four words is enough, and then we can create a blockchain. It's not interesting at all. What's the point of creating new words? Do things in a down-to-earth way, in a down-to-earth way. Just call the original name. There's no need for that.

5. 1. Utility token

utility token is a utility token that acts as a right to use a specific service

examples of terminology usage

utility tokens are premised on the use of services

detailed description

you can settle the price of goods and meals instead of cash, and you can access it by having cloud storage. For utility tokens, there is no need to audit the classification of the report

6, public chain

public chain is a highly "public" blockchain, anyone can freely participate in the network

example of terminology usage

as an infrastructure project for mediating data exchange between blockchains, a mechanism for data exchange on public blockchains will be established

detailed description

in the blockchain used to record the transaction information of encrypted assets (virtual currency), this is a mechanism used by an unspecified number of participants to establish transaction information by consensus without a specific management entity. It is very safe to prevent forgery of transaction information, but it requires a lot of calculation, so its disadvantage is that it takes a long time to complete the transaction when there are many participants

7. Scalability

scalability refers to the scalability of delayed transaction processing

examples of terminology usage

soaring gasoline prices highlight Ethereum's scalability issues

detailed description

e to the nature of blockchain and the limited amount of transaction data that can be written in a block, the processing is delayed. Remittances can take a long time, which can lead to higher transaction costs. Bitcoin is the first cryptocurrency born, which has been considered as a special problem, but efforts to solve this problem have been implemented, such as using other technologies such as lightning network and developing new blockchain

8. Gas cost

gas cost is the (Network) transaction cost on Ethereum blockchain

examples of terminology usage

this week, on the Ethereum blockchain, although there are a small amount of remittances, there are still many cases of high natural gas bills being paid

detailed description

the gas fee of user specified amount is the secondary reward. Eth, the virtual currency, is used for payment. Since the transaction with higher cost should be dealt with first, the gas cost may increase with the increase of transaction number

9. Liquidity mining (liquidity mining)

considering the provision of liquidity (currency pair), liquidity mining is to grant governance token in addition to interest, so as to attract those who implement the rate of return balance

examples of terminology usage

detailed description

in liquidity mining, by storing specific assets in the liquidity pool and providing liquidity that traders can buy and sell, the swap fee at that time can be obtained as income. These liquidity mining originated from the largest decentralized exchange "uniswap", and many liquidity mining contracts were born, such as curve finance and balancer

10. Defi (distributed Finance)

defi (decentralized Finance) refers to the financial services or systems that use blockchain and provide without a central administrator

examples of terminology usage

since June 2020, the market of defi has developed rapidly

specify the abbreviation of "decentralized finance". The financial services offered by defi include the issuance of stable coins, lending currency and cryptocurrency exchanges. Many platforms use Ethereum blockchain

11. POS (proof of equity)

POS is a consensus algorithm, which allows you to approve and generate new block rights according to the percentage (equity) of your own virtual currency

According to vitalik buterin, co-founder of Ethereum, migrating eth's consensus algorithm from POW to POS will improve security and scalability

specify the abbreviation of

proof of interest. We can also consider the holding period of virtual currency. It was born as an alternative to the "proof of work (POW)" consensus algorithm, which requires high-performance computers to approve transactions and consumes a lot of energy. If approved, you can receive a new virtual currency as a reward

12. Dapps

DAPP is an application developed with open source blockchain

examples of terminology usage

Galaxy store, the largest Samsung Electronics app store in South Korea, has started to use Tron's blockchain to process dapps

detailed description

the abbreviation of "distributed application" is called "distributed application" in Japanese. One of the main features is that there is no centralized administrator. The most popular is Ethereum blockchain, which is developing applications such as games and decentralized exchange (DEX)