CryptoUranus is a moderate review of crypto-Industry growth sectors providing user friendly translation for educational purposes only.
Thursday, May 6, 2021
FUD: Defined in CryptoCurrency
FUD: Defined in CryptoCurrency
FUD is short for Fear, Uncertainty and Doubt. FUD is any information that is supposed to create feelings of fear, uncertainy, doubt and other negative emotions.
FUDster: Defined in CryptoCurrency
FUDster: Defined in CryptoCurrency
A FUDster is someone who spreads FUD and FUD is short for Fear, Uncertainty and Doubt. FUD is any information that is supposed to create feelings of fear, uncertainy, doubt and other negative emotions.
Full Node: Defined in CryptoCurrency
Full Node: Defined in CryptoCurrency
A full node is defined as a computer that has a complete, current copy of the blockchain software.
A node is defined as any computing device (computer, phone, etc.) that is maintaining a network. Cryptocurrencies are supported by a network of computers each keeping a digital record of the data known as a blockchain.
A computer, a phone, or any other computing device that can receive, transmit, and/or contribute to the blockchain is a node.
When talking about blockchain technology, we have two types of full nodes:
- A full node that maintains an entire copy of the blockchain program and also receives, records, verifies, and transmits transactions on the blockchain. This process is known as “mining”.
- A full node that only receives and transmits transactions on the blockchain program. This process is passive and relies on a mining full node for updates.
Gains: Defined in CryptoCurrency
Gains: Defined in CryptoCurrency
Gains are defined as increases in value. When used to describe cryptocurrency, it is an increase in value and profit.
Gas: Defined in CryptoCurrency
Gas: Defined in CryptoCurrency
Gas is a small amount of ethereum paid to people who use their computers to record transactions and do other software actions.
Gas is calculated by multiplying a very small amount of ethereum, known as gas price or gwei, and multplying that by how much gwei you want to spend known as gas limit.
Because 1 ethereum = 1 billion (1,000,000,000) gwei, gas costs are usually very small, around several dollars. If the amount of gas is insufficent to complete the work, the work will fail. On the other hand, you can pay a bit more gas and expect the computers to complete your task sooner.
Gas Price: Defined in CryptoCurrency
Gas Price: Defined in CryptoCurrency
Gas price is a very small amount of ethereum and it is multiplied by an amount known as gas limit to pay people to record transactions and do other software actions.
If the amount of gas is insufficent to complete the work, the work will fail. On the other hand, you can pay a bit more gas and expect the computers to complete your task sooner.
Gas is calculated by multiplying a very small amount of ethereum, known as “gwei” and “gas price”, and multplying that by how much you want to spend, known as the “gas limit”.
The very small amounts of ethereum used in gas price are known as gwei. 1 ethereum = 1 billion (1,000,000,000) gwei. A typical gas price is 20 gwei, but it can go as high as 50 during peak usage and as low as 2 gwei for a slower transaction.
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