A website or App that gives users small amounts of cryptocurrency intermittently or for completing a task, such as a survey or download.. Faucets are used as a distribution method for Crypto projects, and typically earn money by advertising other services.
Government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issues it. The US Dollar, Euro, and Chinese Yuan are all fiat currencies.
The reward given to users that stake their coins and participate in the consensus process of Proof of Stake networks. Forging is the equivalent of mining in a Proof of Work network.
A change in a cryptocurrency’s underlying code that makes it incompatible with the previous version. Bitcoin Cash is a hard fork of the original Bitcoin blockchain.
A change in a cryptocurrency’s underlying code that does not make it incompatible with the previous version.
A predetermined block reward that is paid to the founders of a cryptocurrency as part of the mining process. Several cryptocurrencies, including Zcash have consensus mechanisms with a founders’ reward.
A term used to describe the potential of blockchain and cryptocurrencies to remove many of the inefficiencies in centralized financial systems.
The idea that all units in a money supply are exactly equal. Fungibility is considered to be an essential aspect of effective currencies by many economists.
An essential aspect of any currency that all units in the supply are equal. The ability of all units in a money supply to be interchanged