Weekly Blockchain News with Mammycrypto Nov, 28th 2020

Hope you had a wonderful Thanks Giving holiday, as many of us in the USA stopped for a moment to be thankful for all the blessings we still have. As a family, I would say that crypto in general has been a blessing and does give us hope for a better future. This holiday week, the crypto markets have experienced a strong correction with Bitcoin and most alt-coins taking a much-anticipated dip. A correction that many traders and chart analysts were expecting, but one that I believe was driven by some unexpected news that came out this week. The articles below are handpicked for you, one article to read for each day of the week. They will help you understand the environment we are in and some of the catalyst topics that are certainly contributing to the market movement. Check out the Major headlines in the quick 3-minute video below. Also, access each article provided in the video with the links below. I certainly recommend the read. Sunday, Nov 22nd 2020:   Ethereum 2.0 to boost DeFi but

Crypto Dictionary: The Basics according to social media

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To understand about crypto one must first know it's lingo. Cryptocurrencies and blockchain technology are a fairly new phenomenon. Because of that its language is still being developed in many ways. Only 5 words related to cryptocurrency are sited in the Oxford Dictionary, but a huge array of words old and new as well as slangs and abbreviations are used by the crypto community on a daily basis. Knowing what they mean gets us one step closer to understanding Crypto in general.

In this article I picked 10 definitions from the site decryptionary.com that I think are essencial to start.

1. 2 Factor Authentication or 2FA:  "is defined as an additional layer of security requiring information that verifies the owner, and nobody else, is accessing their account.
Whether or not you have a strong password, your accounts can still be hacked. Two Factor Authentication can be the final barrier that keeps your accounts safe from hackers."
2. 51% Attack:  "is defined as a situation where more than half of the computer power running a blockchain are controlled by one person or one group of people with evil intentions. That person or group with the majority power can manipulate transactions in his favor."
3. Altcoin: "is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”."
4. ATH: "is short for “All Time High”, and is defined as the highest value an investment has ever reached in its history."
5: Bear / Bull: "Bear market is defined as a decreasing set of prices for various types of assets. A bearish investor wants to profit from the movement of dropping prices. / Bull market is defined as a continued increase in value for any type of asset. Also known as a “bull run”."
6. Centralized / Decentralized: "Centralized describes a system or organization that is controlled by one person or group. Companies are centralized organizations./ Decentralized Autonomous Organizations also DAO describe leaderless organization supported by a network of computers. To be decentralized, it must have no central location because it is running on a network of computers. And because there is no single leader and has its own rules to follow, it is autonomous, or self-governing." 
7. Fork: "A fork or accidental fork is a split in the digital recordings, known as the blockchain."
8. Mining: "Mining is defined as the process of using computer power to solve a complex math problem, review and verify information, and create a new recording to be added to the blockchain."
9. Private key: "is defined as a string of letters and numbers known only by the owner that allows them to spend their cryptocurrency. NEVER SHARE your private key unless you want someone else to be able to take all of your money!
Your private key is very similar to your password to access your crypto. Compare a private key with a public key and address:
  • Your public key is rarely ever used, but you can use it to receive cryptocurrency.
  • Your address is a safer version of your public key and is what you should use to receive money."
10. Public key: "is defined as a string of letters and numbers that allows cryptocurrency to be received. However, public keys are not considered as safe to use as public addresses."

Overall these are 10 basic words that I picked from over 400 crypto related definitions featured by Decryptionary. In my opinion, as the industry evolve and more people dive into the technology many of this words are going to popularize and become more mainstream. 

By: Michelle Mafra
Mamãecrypto
www.mammycrypto.com
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Comments

Unknown said…
Super useful as a reference, and a really good starting point.

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Disclaimer

My opinions are simply my opinions and not investment advice. I strongly recommend everyone investing or looking to earn or acquire cryptocurrencies to do their own research and get very educated about risks and security before acquiring, earning or investing. The content in this blog/ website is not investment advice. Please note that this web site also features sponsored content and referral affiliate links. Which means that when you click on some links and sign up for a product or service I may receive I small commission or credit for the referral. Most the the links also will give you an invite incentive that most often you would not receive if you do not use a referral invite link.

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