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Decryptopedia™

Our cryptocurrency glossary helps you decipher crypto jargon back into plain English. Learn the terms that you’ll come across on your crypto journey.

Term of the Day

Rug Pull

A scam tactic perpetrated against crypto traders and investors, that results in all investment funds disappearing without a trace. The scam usually takes the shape of scammers setting up a brand new coin that promises instant gains or too-good-to-be-true scenarios. Once the coin is made public, the scammers (criminals) drum up attention on social media and chat rooms, in hopes of enticing investors to buy the cryptocurrency of the project. The fraud materializes when the founders of the coin disappear without notice, taking all investor funds with them.

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Topic of the Day

Common Crypto Terms

The crypto market, born out of money meeting technology, covers a vast amount of subjects. Crypto not only covers cryptocurrency trading, but it includes everything from digital payments,...

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Terms that start with “O”

  1. Off-Chain

    Refers to blockchain transactions that are processed outside the blockchain. Due to the limitations of on-chain transactions, including a blockchain’s scalability, speed, and cost, off-chain transactions and Layer 2 protocols were introduced to help Layer 1 blockchains deal with congested networks and slow processing speeds.

  2. On-Chain

    Refers to blockchain transactions that exist on and have been verified to the blockchain by miners or validators.

  3. On-Chain Analysis

    On-chain analysis is the process of using blockchain data to evaluate the behavior and patterns of users, wallets, and assets within a blockchain network.

  4. Open-source

    Software code that is publicly accessible, meaning that anyone can view, modify and redistribute the code. The mission of open-source software is to promote openness, transparency, collaboration and participation by anyone in the development of the software. In relation to blockchains, many of the top blockchains are developed using open source software, with no central bank, government, or institution controlling the software.

  5. OpenSea

    OpenSea is the world’s first and largest decentralized peer-to-peer (P2P) marketplace for buying and selling Non-Fungible Tokens (NFTs).

It is our choices . . . that show what we truly are, far more than our abilities.J.K. Rowling