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Explore Crypto Terms & Definitions
Mixer/Mixing Service
A service designed to obfuscate the tracing of cryptocurrency transactions by breaking the link from address to the recipient. This is achieved by breaking down large transactions into random sizes, or aggregating then dividing, adding time delays and utilising a network of unrelated users to obfuscate each other’s funds. Also see Tumbler.
Mobile Wallet
A cryptocurrency wallet functioning as an App on a mobile phone; can be either custodial or non-custodial.
Moon
Slang term used as a rallying cry for the price of a cryptocurrency to reach new heights e.g. ‘Bitcoin price is going to the moon’ ‘Bitcoin price is mooning’
Multi Signature (Multi Sig)
Requiring more than private key to sign a transaction. Offers an extra layer of security, reducing the likelihood that a wallet could be compromised.
Node
One of many computers on a network observing the same rules (aka protocol) and providing the same service. Bitcoin has two types of Node - Full and Lightweight.
Nonce
Numeric field that Miners adjust to create a Hash of a new block header, aiming for that to be lower than or equal to the current Target value.
Oracles
Off-chain data sources for smart contracts or blockchains.
OSINT
Abbreviation for Open Source Intelligence - the collection and analysis of information that is publicly available.
Overbought
Describes an asset, like cryptocurrency, as being overvalued due to excessive buying. There are technical indicators that are employed to try to establish Overbought or Oversold conditions, see Relative Strength Index.
Over-The-Counter (OTC)
Describes a tailored cryptocurrency brokerage service for large volume buyers or sellers who don't want to use an exchange usually because there isn't enough liquidity and they don't want their activity to trigger price changes.
Mnemonic Phrase
A list of random words used as a backup to restore Bitcoin wallets that may have been destroyed or otherwise locked. These are usually generated when a wallet is created, with the user being instructed to write it down on a piece of paper for a physical backup. Also known as a Seed Phrase.
Modern Monetary Theory (MMT)
An increasingly popular macroeconomic theory that sees money as a public monopoly and unemployment as evidence that the supply of that money is overly restricted. MMT expands the money supply to grow the economy and taxes to rein it in if inflation increases.
Moores Law
Prediction made by American engineer, Gordon Moore, in 1965, that the number of transistors per silicon chip doubles every year. To date, transistor technology development has kept apace with this prediction which has important implications for all industries that rely on computing power, such as crypto.
Network Effect
An expression of the exponential growth in the value of a network as new users join. Often used to describe inflection points in the adoption of new technologies like cryptocurrency as the network of users reaches a critical point.
Non Fungible Token (NFT)
A type of digital token that is verifiably unique and can therefore be used to assert rights to ownership of digital collectibles like art or in-game items. NFTs are generated on the Ethereum blockchain using the ERC-721 or ERC 1155 standards.
One Cancels The Other Order
A pair of conditional crypto trading orders where if one of the orders is executed the other is automatically cancelled.
Orphan Block
Aka Stale Block. Where two valid blocks are mined at a similar time and due to lags in the validation process by nodes lead to separate blockchains. Eventually a reorganisation takes place and the duplicate block is discarded. Given the nature of the mining/block validation process stale blocks will naturally occur.
Output
In relation to bitcoin transactions an Output is the recipient of Spent Funds used to fund a transaction, which then become Unspent at the new address. Also see Output.
Oversold
Describes an asset, like cryptocurrency, as being undervalued due to excessive selling. There are technical indicators that are employed to try to establish Oversold or Overbought conditions. See Relative Strength Index.
P2P
Abbreviation for Peer-to-Peer, meaning communication between participants within a network without going through an intermediary or central point. Bitcoin is an example of a P2P network.
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