Author Topic: Terminology and abbreviation list  (Read 9615 times)

Offline HauntingShade

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Terminology and abbreviation list
« on: May 01, 2013, 09:16:58 PM »
Some users might get confused by all the terminology and abbreviations seen on this forum. I hereby present you a sticky in which terminology and abbreviations are explained.

Please feel free to post new terminology and abbreviations down below. You're also free to ask for certain meanings, even if you think its stupid. Please note: it should be related to this forum and the crypto community of course.  ;)

Thanks!  :)

=================

Terminology.

Address = Alphanumeric code used by Litecoin to send and receive Litecoins. Addresses are public.

Blockchain = the transaction data of Litecoin. Every transaction in Litecoin is recorded in the blockchain. A new transaction has 1 confirmation when it is first included in the blockchain by miners.

Cold Storage = Keeping the private key of the Address where your Litecoins are stored inaccessible to the internet. See also Paper Wallet.

Client (Litecoin-Qt) =  The software program used to manage your Litecoin transactions.

Found a block or Solved a block = Using mining software and hardware to include transactions into the blockchain. The block reward and all transaction fees collected are given to the entity who accomplishes this.

HODL = To hold. Example: "I am HODLING all my coins." The misspelling is intentional much like "pwn" from video games. The origin comes from this BitcoinTalk thread.

Paper Wallet = A method of storing your Litecoins where the private key of one or more Litecoin addresses is stored physically (such as printed on paper). See also Cold Storage.

Private Key = Alphanumeric code required to sign the transactions of a Litecoin address. You can not send coins from a Litecoin address unless you have it's corresponding private key.

=================

Abbreviations.

ANNAnnouncement
BTCBitcoin
FSFor Sale
Kh/sKilo hashes a second
LTCLitecoin
Mh/sMega hashes a second (1000 Kh/s)
OPOriginal Post / Original Poster
WTBWant To Buy
WTSWants To Sell

=================
« Last Edit: May 13, 2014, 03:29:28 PM by Carnth »

Offline Carnth

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Re: Terminology and abbreviation list
« Reply #1 on: May 01, 2013, 09:36:05 PM »
Added:
  • Found a block
  • Kh/s
  • Mh/s
  • OP
  • WTS
« Last Edit: May 01, 2013, 09:42:22 PM by Carnth »

Offline Nixxle

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Re: Terminology and abbreviation list
« Reply #2 on: November 28, 2013, 05:21:45 AM »
Could you add "blockchain" to the defined terminology list?

Offline Carnth

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Re: Terminology and abbreviation list
« Reply #3 on: November 29, 2013, 09:19:26 PM »
Could you add "blockchain" to the defined terminology list?

Done!  Thanks for the suggestion.

We need more suggestions for everyone.

SpeedOfLite

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Re: Terminology and abbreviation list
« Reply #4 on: December 04, 2013, 06:01:12 AM »
Hello, I am new to LTC and have been reading a lot and just want to make sure I am understanding some of the terminology correctly. Based on my research here is what I have come up with:

Address - Alphanumeric code used by Litecoin-Qt to send and receive Litecoins.

Cold Storage - Keeping your Litecoins in an area inaccessible to the internet.

Client - (Litecoin-Qt) The software program used to manage your Litecoin transactions.

Paper Wallet - A method of storing your Litecoins offline.

Private Key - Alphanumeric code required to move coins from a paper wallet or cold storage.

Receive Address - Alphanumeric code used when you want to receive Litecoins.

Send Address - Alphanumeric code used when sending Litecoins.

Thanks in advance for any response. I always try and research as much as possible before asking any questions or starting a new thread. I'm pretty sure I'm getting it though.

Offline Carnth

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Re: Terminology and abbreviation list
« Reply #5 on: February 19, 2014, 12:17:41 AM »
Hello, I am new to LTC and have been reading a lot and just want to make sure I am understanding some of the terminology correctly. Based on my research here is what I have come up with:

Address - Alphanumeric code used by Litecoin-Qt to send and receive Litecoins.

Cold Storage - Keeping your Litecoins in an area inaccessible to the internet.

Client - (Litecoin-Qt) The software program used to manage your Litecoin transactions.

Paper Wallet - A method of storing your Litecoins offline.

Private Key - Alphanumeric code required to move coins from a paper wallet or cold storage.

Receive Address - Alphanumeric code used when you want to receive Litecoins.

Send Address - Alphanumeric code used when sending Litecoins.

Thanks in advance for any response. I always try and research as much as possible before asking any questions or starting a new thread. I'm pretty sure I'm getting it though.

Added most of these to the list (with a few changes).

Offline medicine

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Re: Terminology and abbreviation list
« Reply #6 on: May 13, 2014, 01:07:12 AM »
You need to add "hodl" as well.  Took me a while to figure where that came from.  ;)

Offline Carnth

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Re: Terminology and abbreviation list
« Reply #7 on: May 13, 2014, 03:30:08 PM »
You need to add "hodl" as well.  Took me a while to figure where that came from.  ;)

Added "hodl" to the list. I even included the origin.

Offline Nathan

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Re: Terminology and abbreviation list
« Reply #8 on: May 14, 2014, 04:33:22 PM »
At the starting i was confuse what does WTB and WTS means. Now it is clear to me. Thanks a lot for such an useful post.

Offline Muhammed Zakhir

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Re: Terminology and abbreviation list
« Reply #9 on: July 06, 2014, 05:42:49 AM »
Almost all of the terminology and abbreviation in cryptocurrency world are here. Thanks a lot!
This post will definitely help newbies.

Kindly,
         MZ 

GlassICE

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Re: Terminology and abbreviation list
« Reply #10 on: December 11, 2014, 05:58:46 PM »
i just understood some words which i didn't know, thank u for ur great post my friend

Offline sangeeth

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Re: Terminology and abbreviation list
« Reply #11 on: February 06, 2015, 09:23:37 PM »
any one help me how i post my views here?

Offline l_iteCulture

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Re: Terminology and abbreviation list
« Reply #12 on: February 11, 2016, 10:31:47 AM »
One Crypto DEX could be cool.
Explaining words is fast learning for newbs.
 [ltc] 8)