Glossary

LimeChain Glossary

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  • An account is an entity in a blockchain system that holds crypto assets and can send transactions to other accounts on the same blockchain network. Accounts can be controlled by the users or, if the blockchain supports them, by smart contracts.
  • A method for distributing crypto assets in which cryptocurrencies or tokens are sent directly to user wallets. Airdrops are often used to kickstart adoption of a token, dApp or protocol.
  • An alternative to Bitcoin, the original cryptocurrency.
  • An automated market maker is a type of DEX that utilizes algorithms and crypto asset pools (liquidity pools) to facilitate crypto trading without order books. The assets in a liquidity pool (one pool can represent a single trading pair) are algorithmically kept in a ratio which allows the pool to automatically quote prices.
  • A commonly employed trading strategy wherein the trader buys a security in one market and simultaneously sells it on another market, profiting from the temporary difference in price. In the context of crypto trading, arbitrage is the practice of buying a cryptocurrency on one exchange and quickly selling it on another where the price is higher
  • ASICs, or application specific integrated circuits, are specially designed chips that have been optimized to perform a specific task as efficiently as possible. In crypto, ASICs are widely used for crypto mining in Proof-of-Work networks.