Glossary

Whale refers to individuals or institutions that own large quantities of cryptocurrencies and have the ability to generate price fluctuations.

Basically, any application that includes functions for storing and handling cryptocurrencies can be described as a wallet.

Telegram is essentially a cloud-based instant messaging platform that enables secure communication in real time.

New functions for the Mainnet can be tested in a test net, where the tests take place in a safe environment.

Tether (USDT) is a controversial cryptocurrency with tokens issued by the company Tether Limited. USDT is traded as a so-called stablecoin.

Tokenization describes the representation of an asset on the blockchain and has the potential to revolutionize the real economy.

Tokenomics is the name given to the set of economic rules that define the monetary policy of a cryptocurrency; inflation rate, token allocations, etc.

A sidechain is a Layer 2 blockchain solutions that is connected to a main network (mainchain) via a reciprocal link.

Stablecoins are cryptocurrencies that are backed by collateral and therefore have less volatile properties.

Ripple developed the blockchain-based XRPL digital payment protocol and XRP cryptocurrency to revolutionize cross-border transactions for financial institutions, with a particular focus on efficient money transfers and a landmark case with the SEC.

Know your customer is a legitimacy check of certain new customers for the prevention of money laundering, which is especially prescribed for credit institutions, insurance companies or crypto exchanges.

The Lightning Network is an “off-chain” or “second layer” scaling solution for cryptocurrencies.

Each blockchain node is a communication point in the network and validates the transactions of the decentralized database.

In blockchain technology, mining is the process by which new transactions are verified and added to the blockchain.

MetaMask is a digital wallet provider that launched in 2016 with over 30 million active users for storing and transferring ERC-20 tokens.

A public key can be openly shared and encrypts and verifies cryptocurrency transactions, ensuring authorisation of the rightful owner.