Digital Asset Glossary

The A-Z of Digital Assets

The digital asset glossary for decision-makers seeking to expand their knowledge with insights and signals from industry experts.

A to Z Digital Asset Glossary METACO

A

Application-Specific Integrated Circuit (ASIC)

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B

Bitcoin

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AtoZ-Digital Assets Glossary Bitcoin-04

Bitcoin

Bitcoin is the first cryptocurrency to ever hit the market. It’s also the best-known, most widely traded cryptocurrency, and the one with the highest market cap.

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C

Central Bank Digital Currency (CBDC)

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D

Decentralized

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Digital Assets Glossary Decentralized

Decentralized

Decentralization is a fundamental feature of crypto assets. Cryptocurrencies, tokenized assets, and the networks they run on, blockchains, are decentralized by design.

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E

Ethereum

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AtoZ-Digital Assets Glossary Ethereum-05

Ethereum

Ethereum is often compared to Bitcoin and thought of as an alternative to it. But while Ethereum uses blockchain technology and has its own cryptocurrency — Ether — that’s where the similarities with Bitcoin end.

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F

Fork

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METACO Digital Assets Glossary A-to-Z Fork

Fork

A fork is a split in a blockchain network. It can be accidental or intentional. An accidental fork happens when two or more miners find a block at the same time.

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G

Gas

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Gas

In crypto, gas can mean one of two things: Gas coin, a cryptocurrency or a unit that measures how much computer power is required to perform an action on the Ethereum network.

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H

Hash

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AtoZ-Digital Assets Glossary Hash-08 METACO

Hash

A hash is a hexadecimal number that represents a string of data. The process that converts the data into a hash is called hashing.

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I

Initial Offering

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AtoZ-Digital Assets Glossary ICO-10 Initial Coin Offering Initial Token Offering

Initial Offering

Initial offerings are the crypto world’s version of an IPO. There are two main types: Initial Coin Offerings and Initial Token Offerings.

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J

Jamie Dimon

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Digital Assets are Coming of Age

Jamie Dimon

Jaime Dimon has been the chairman and CEO of US banking giants JP Morgan since 2005. He made the Time 100 — Time magazine’s yearly list of the 100 most influential people — in 2006, 2008, 2009, and 2011.

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K

Key

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AtoZ-Digital Assets Glossary -K Key-11

Key

Keys enable two parties to complete a cryptocurrency transaction securely. They also prove that the transaction is legitimate. Or, in other words, that it was made by the true owner of the funds.

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L

Ledger

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AtoZ-Digital Assets Glossary Ledger-13

Ledger

A ledger is the public, decentralized record-keeping system that crypto assets run on. It stores data in encrypted files called blocks. These blocks are connected, or chained, to one another, which is why crypto ledgers are known as blockchains.

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M

Mining

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Mining

In the crypto ecosystem, mining serves two purposes: it produces new coins and it verifies that information is accurate before it’s permanently recorded onto the blockchain.

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N

Node and Non-fungible token (NFT)

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AtoZ-Definitions-N-Node-Digital Assets Glossary

Node

Nodes are the blockchain’s physical infrastructure. The hardware — typically desktop computers, laptops, or servers — that supports cryptocurrency networks.

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O

Open

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Open

Open can mean two things in the crypto space: an open blockchain or open source software. Most major blockchain-based projects — including Bitcoin and Ethereum — are both open and open source.

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P

Proof of Work / Proof of Stake

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Q

Quantum resistance

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AtoZ-Digital Assets Glossary-Definitions-Quantum resistance-17

Quantum Resistance

Quantum-resistant algorithms — also known as post-quantum, quantum-secure, and quantum-safe — are cryptographic algorithms that can fend off attacks from quantum computers.

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R

Ripple

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Ripple

Ripple is an exchange platform with a decentralized ledger and its own cryptocurrency.

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S

Stablecoins

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Stablecoins

Stablecoins are asset-backed cryptocurrencies. By linking their value to a more stable asset, stablecoins aim to avoid fluctuating as much or as often as traditional cryptocurrencies like Bitcoin.

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T

Tokens

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AtoZ-Digital Assets Glossary-Definitions-Tokens-20

(Cryptographic) Tokens

A cryptographic token is a digital unit of value that lives on the blockchain. There are four main types: payment tokens, utility tokens, security tokens, non-fungible tokens.

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U

Utility tokens

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Utility Tokens

Utility tokens are one of four types of cryptographic tokens that represent digital units of value on the blockchain.

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V

Volatility

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Volatility

Volatility is the degree to which an asset fluctuates in value. If an asset is highly volatile, it can be prone to sudden price fluctuations.

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W

Wallet

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AtoZ-Digital Assets Glossary-Definitions-Crypto Wallet

(Crypto) Wallet

A wallet is a system that allows you to send, receive, and store cryptocurrency. Wallets keep your private keys safe.

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X

XBT

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AtoZ-Digital Assets Glossary-Definitions-XBT

XBT

XBT is an abbreviation for Bitcoin. The main difference between XBT and BTC is that the former has been prescribed by ISO.

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Y

Yield farming

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AtoZ-Digital Assets Glossary-Definitions-Yield farming

Yield farming

Yield farming allows cryptocurrency holders to earn rewards — typically other crypto tokens — in exchange for lending out their coins.

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Z

Zero Knowledge Proof

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Zero Knowledge Proof

Zero knowledge proof, also known as a ZK protocol, is a verification method in which knowledge can be proven without its content being revealed.

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