Crypto Jargons

What are Crypto Jargons?

These are the technical or specific terms that are used in crypto industry. Some of the widely used crypto terms are listed below.

HODL is a term derived from a misspelling of “hold” that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.
Hodl is a slang term and Internet meme that is used in the cryptocurrency community in January 2013 when referring to holding the cryptocurrency rather than selling it. It originated in a December 2013 post on the Bitcoin Forum message board by an apparently inebriated user who posted with a typo in the subject, “I AM HODLING”.

A Ponzi scheme is a fraudulent investing scam promising high rate of returns with little risk to investors. The Ponzi scheme generates returns for older investors by acquiring new investors.

Ponzi scheme is a form of fraud which lures investors and pays profits to earlier investors by using funds obtained from newer investors. Investors may be led to believe that the profits are coming from product sales, or other means, and remain unaware that other investors are the source of profits. A Ponzi scheme is able to maintain the illusion of a sustainable business as long as there continues to be new investors willing to contribute new funds and most of the investors do not demand full repayment and are willing to believe in the non-existent assets that they are purported to own

If a malicious user tries to spend their bitcoins to two different recipients at the same time, this is double spending. Bitcoin mining and Blockchain are there to create a consensus on the network about which of the two transactions will confirm and be considered valid.

Peer-to-peer refers to systems that work like an organized collective by allowing each individual to interact directly with the others. In the case of Bitcoin, the network is built in such a way that each user is broadcasting the transactions of other users. And, crucially, no bank is required as a third party.

Cryptojacking is the unauthorized use of a computer, tablet, mobile phone, or connected home device by cybercriminals to mine for cryptocurrency.

In simple terms, Cryptojacking is basically hijacking your computer to mine cryptocurrency via installing a browser base code. It can be done via simple java code which a person might install from web unknowingly.