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Cryptocurrency Dictionary Part 4

 
 
 
 
 
 
 

Contract

A promise made between more users for a specific benefit, backed by legal quality; if one of the members doesn’t accomplish with his part of the contract, legal measures can be taken to force that member to complete his role.

Central Processing Unit (CPU)

The CPU is the brain of the computer. Its job is to take the different parts of a computer to work well together.

Cryptoanalysis

Process of making secret information, with zero access to it, readable through studies.

Cryptocurrency Dictionary crypto basic terms

Cryptojacking

The term refers to the act of mining cryptocurrencies from someone else’s computer without them knowing. It can be done by secretly installing a program on a victim’s computer to mine cryptocurrency.

However, as time passed, cryptojacking is now done through an Internet browser by having a web browser that uses your computer power to earn a digital asset from it.

Cash

Physical assets available for people and safely stored in banks or other sources. It can also be represented by checks.

Chain Split

It’s a break in digital recordings or blockchains. When it comes to cryptocurrencies, only one block or record should be made at the time. In some occasions, blocks may split if the network disagrees on how the blocks are being made.

Ciphertext

Unreadable text made to keep its information secret.

Directed Acyclic Graph (DAG)

Structure built in a way so that it never repeats, going in a single direction. It can be seen as an algorithm or a checklist, where you need to go from step 1, 2 and 3 to reach step 4.

Decentralised Autonomous Organation (DAO)

It’s a leaderless organisation that runs with the support of a network of computers. It works with no central location as it functions on a network of computers, which makes it a decentralised network.

Decentralised Application (DApp)

Software application in which its technologies runs publicly on a network of computers. DApps are not maintained by organisations. Instead, they can be managed by multiples individuals.

Dark Web

Part of the internet that can only be reached with the use of specific software that allows users to enter and navigate through it while keeping their identities hidden.

Distributed Denial-of-Service Attacks (DDoS)

Computerised attacks on a website or other online service. This is done when something causes the service to slow down or shut down their processes and stops its users from using the service as it should be.

Decentralised

A system whose elements are spread among different locations and the future of the system will be decided from many different points. Its independence is preserved across the network.

Decentralised Autonomous Organation (DAO)

It describes a leaderless organisation supported by many computers, forming a network. A central location destroys the idea of being decentralised, and it is avoided by running on a network of computers.

Decentralised Exchange (DEX)

A decentralised exchange is the place where users exchange and trade cryptocurrencies directly or peer-to-peer. Here, there’s no need for a company to hold their money or crypto for them.

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