Addresses: An individual address that determines where a cryptocurrency remains on the blockchain. It’s this location at which the ownership data of the particular crypto is stored and where any changes are registered when it is traded. Crypto addresses are usually a string of 30 characters or more.
Anti-money laundering: International laws and regulations intended to prevent any individuals from laundering money through cryptocurrencies into real-world cash. Also known as AML.
Block: A Block is what the blockchain is made up of. These blocks contain historical data of all cryptocurrency transactions created until the block is full. It is also a permanent record that can be viewed at any time.
Block Chain: A decentralized digital record of all transactions done in a particular cryptocurrency. It includes individual blocks that are chained together through a unique cryptographic signature. A new block is always added to the blockchain every-time a block has reached its capacity.
Cryptocurrency: A form of money that exists as encrypted, digital information. Operating independently of any banks, a cryptocurrency uses sophisticated mathematics to regulate the creation and transfer of funds between entities.
Depth Chart: A typical graph found on exchanges that plots the requests to buy (also known as bid) and requests to sell (also known as asks) onto a chart. The depth chart can also display crossover points where the market is most likely to accept a transaction in a timely fashion as users can put a limit order on a buy or sell transaction. It also can inform viewers if there are any compelling buy walls or sell walls in play.
Gas fee: ‘Gas’ is a shorthand term used to describe the cost of powering a transaction or contract in Ethereum. Because blockchain is decentralized, every transaction is distributed through multiple computers, not a central server. This ensures each token – in this case, each collectible – is secure and one-of-a-kind. It also takes a lot of computational power, which is covered by the cost of gas.
‘Gas’ is composed of two parts: Gas Price and Gas Limit. Gas Price is what you offer to pay the miners (in a tiny measurement of ether called ‘gwei’) for each operation to execute the smart contract. Gas Limit is how many operations you let them do before they run out of gas and drop the transaction.
1 gwei = 1/1,000,000,000th of an Ether.
Limit Order/Limit Buy/ Limits Sell: If you set a rule whereby a cryptocurrency is sold or bought at a certain price, you are setting a limit order. When traders place an order for a buy or sell, the system looks for these limit orders.
Market Capitalization: the total number of coins in supply multiplied by the price. Cap = supply x price
Market Order: An immediate trade that is executed whatever the price is at the time the transaction is made.
Order Book: Order book is used to record the interest of all prospective buyers and sellers in the market for a particular collectible. The Order Book displays the various prices that buyers and sellers would like to transact at. The green orders are buy orders, and the red orders are sell orders. Simply put, the Order Book is a list of the various orders that would be placed at various price levels. Observing the Order Book will help you understand the level of demand or interest in a given asset based on other orders placed by collectors on Liquid MarketPlace.
Secondary Market: The secondary marketplace is where transactions occur after the original offering has closed. It is where you can buy or sell portions of collectibles, in real-time, 24 hours a day, 7 days a week.
Software Wallet: A cyber-wallet where individuals can store cryptocurrencies. Each wallet has a private key for each individual and is stored within software files on a computer. Software wallets are known as external wallets and are not the same as a wallet that is associated with an exchange.
Token: The “coin” of a cryptocurrency is a token. Effectively, it’s the digital code defining each fraction, which can be owned, bought, and sold.
Transaction Fee: A fee given to miners that were involved in approving a transaction over the blockchain. Depending on the complexity involved in a transaction, this fee can vary.