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Dictionary

Welcome to Educrypt Dictionary

A dictionary for crypto-related words!
To learn about crypto slang words, go here.

Cryptography

The term cryptography is derived from the Greek word Kryptos (hidden). It is closely associated with encryption. Cryptography is the study of techniques for secure communications, allowing solely the sender and intended recipient of a message to view its content.

Crypto

Cryptocurrency, crypto-currency, or crypto is a form of currency, digital or virtual that uses cryptography to secure transactions. Cryptocurrencies don’t rely on a central issuing or regulating authority. Instead crypto is using a decentralized system to record transactions and issue new units. Sometimes the word ”crypto” is used as a general term to describe the field connected to cryptocurrencies, blockchain, and Defi.

Blockchain

Blockchain or blockchain technology describes the technology on which cryptocurrencies are based. Every record (block) contains a register of transactions that are secured and combined using cryptography. This means there is no single storage location. Instead, each network user has a complete record of transactions.

A definition of Blockchain from Oxford Languages: ”a system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers that are linked in a peer-to-peer network.”

Bitcoin

Bitcoin, created in 2009 is now one of the most popular crypto-currencies. Bitcoin is based on blockchain technology and is exchanged between users directly. Transactions are transparent but the parties remain anonymous.

NFT

NFT – ”Non-Fungible Token” is a unique digital object. It uses blockchain technology to ensure that a digital representation is unique. NFTs are used, among other things, to handle certain cryptocurrencies (electronic money) but can be used to represent anything. In simple terms an NFT can be explained as a digital collectible, and can for instance be a digital artwork, soundtrack or similar.

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