Confused by all the cryptocurrency terms out there? Dive into our easy-to-understand glossary. This week the letters are J through L.
JOMO: The opposite state of FOMO stands for “Joy of Missing Out”.
Java: Java is a universal, class-based and object-oriented programming language.
keyloggers: A keylogger or keylogger software is a spy tool commonly used by hackers to record user keystrokes.
Key pairs: A key pair is the combination of a public key and a private key. When a crypto wallet is created, a key pair is generated. The private key is the most important and should be kept safe and not shared with anyone, while the public key can be shared with anyone who wants to send you money.
Kimchi premium: The kimchi premium is a phenomenon occurring on South Korean crypto exchanges that makes valuations appear higher than other international exchanges.
KYC: Know your customer.
Lambo: Slang for the kind of car that many crypto enthusiasts want to buy when their digital assets go “moon” — or significantly appreciate in value.
layer 0: Layer 0 is a network framework that runs underneath the blockchain. It consists of protocols, connections, hardware, miners, and everything else that forms the foundation of the blockchain ecosystem.
layer 2: Layer 2 is the designation for a scaling solution that enables high transaction throughput while fully inheriting the security of the underlying blockchain on which it is built.
Layer 1 blockchain: A Layer 1 blockchain is a set of solutions that enhance the base protocol itself
ledger nano: The Ledger Nano is a hardware wallet for Bitcoin, Ethereum and many other Altcoins. Like other hardware wallets, it stores the user’s private keys in a secure hardware device, keeping them away from criminals while still giving the user easy access to their cryptocurrencies. What makes the Ledger Nano so useful is the combination of high security and ease of use. Users can pay quickly with their digital currency while knowing that their coins are kept safe.
lightning network: A peer-to-peer cryptocurrency micropayments system focused on instant, low-latency payments. They are sometimes referred to as second layer solutions.
limit order: A limit order is an order to buy or sell a security at a specific price or better.
Limit order/limit buy/limit sell: Tools that allow traders to automatically buy or sell cryptocurrencies on a trading platform when a certain price target is met.
liquidity: The liquidity of a cryptocurrency is defined by how easily it can be bought and sold without affecting the overall market price.
liquidity pool: Liquidity pools are crypto assets held to facilitate trading pairs on decentralized exchanges.
Liquidity Provider: Liquidity providers are decentralized exchange users who fund a liquidity pool with tokens they own.
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