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Glossary

because how many of these are floating around.

ERC20 Compatible - It is a special Ethereum wallet that is capable of receiving Ethereum based tokens.

Faucet - a website offering you small increments of coins in exchange for website clicks and captcha fulfillment.

Initial Coin Offering - (ICO) The contribution of coins to receive future token for a company or developing platform (please read further than this definition)

Masternode/nodes in general - nodes come in many forms, and they can do various things, but their main objective is confirmations of the network. Usually one spends a specific lump sum, or hold a particular amount of a coin to exchange it for the node capablilties. Similar to staking, but should be more consistent and sometimes comes in tiered versions for different amounts of coin.

Mining - the use of equipment as Proof of... for a coin. Mining equipment can be CPUs, GPUs, Hard drives, ASICs and more.

Miners - the individuals running the equipment, they are the ones earning the transaction fees.

Proof of... - work//the use of computer equipment(CPUs GPUs and ASICs) that 'mine' the transactions and new coins for the network. It is very time intensive in the beginning if you do not understand/have prior programming knowledge and experience. The equipment can all require specific tuning, and based off the number of tasks going on with your equipment, it can cause conflict and errors.

- stake// is running a coin or token wallet on your desktop, downloaded, and connected to the network. In theory, the more you hold, the larger your stake, the more frequently you gain. Your wallet confirms transactions on the network like mining would.

- capacity// the use of your hard drives capability to run the algorithm.

Satoshi - The name of the 'creator' of Bitcoin, also used to name the smallest increment of Bitcoin, 0.00000001

Smart contract - a capability of a coin being able to break into more coins or token, with special abilities such as paying dividends for one example.

Token - another type of coin, derived from an Ethereum smart contract, and can share a wallet with Ethereum if it is a ERC20 wallet.

Wallet - it is the location in which in send and receive coins. It is comprised of a long variable combination of letters capitalized and lowercase, and numbers. A lot of coins have special identifiers such as Bitcoin wallet address begin with a '1' or '3', but can now also be found starting with 'b'.

THE BEST DAMN INFORMATION WE COULD FIND.

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