Satoshi – The Satoshi is currently the smallest unit of the bitcoin currency recorded in the blockchain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, SatoshiNakamoto.
As example price of 0.00000005BTC can be shortened by saying 5 Satoshi.
Pump and Dump (P&D) – coordinated coin buying by a group of individuals that artificially inflates the price of cryptocurrencies, in the hopes of attracting outside buyers to then “flip” the currency onto at a profit.
Fork, Hard Fork – it relates to blockchain technology that is a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa), and as such requires all nodes or users to upgrade to the latest version of the protocol software.
POW – A proof-of-work (POW) system (or protocol, or function) is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer.
POS – DEFINITION of ‘Proof of Stake (PoS)’ Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins he or she holds. … The first cryptocurrency to adopt the PoS method was Peercoin.
POS/POW – cryptocurrency which utilized hybrid between Proof Of Work (PoW) and Proof Of Stake (PoS) to achieve distributed consensus.
Coin transfer/payment confirmation – After a transaction is broadcast to the Bitcoin network, it may be included in a block that is published to the network. When that happens it is said that the transaction has been mined at a depth of 1 block. With each subsequent block that is found, the number of blocks deep is increased by one. Confirmation number required to be able to spend the received coins is vary between coins.
ICO – is the abbreviation of Initial Coin Offering. It means that someone offers investors some units of a new cryptocurrency or crypto-token in exchange against cryptocurrencies like Bitcoin or Ethereum. Since 2013 ICOs are often used to fund the development of new cryptocurrencies. Well presented ICO does not guarantee well-made coin and vice versa. I will write an article with fail and success ICO examples in the near future.
Wallet – The Digital Wallet – Through the digital wallet we can send and receive crypto coins from any address. Bitcoin and all other cryptocurrencies have a unique purse, or a few purses, which can store the specific coin. There are purses that can accommodate more than one type of currency. The wallet itself does not possess crypto coins, it acts as the key to your coins that are stored in the blockchain.
Crypto coin mining – Bitcoin mining and other crypto coins mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as blocks, are added to the record of past transactions, known as the blockchain.
ALTcoins – Alternative coins. Basically, all crypto coins but BTC is ALT coins.
Mining pool – In the context of cryptocurrency mining, a mining pool is the pooling of resources by miners, who share their processing power over a network, to split the reward equally, according to the amount of work they contributed to the probability of finding a block.