Bitcoin glossary: Top 70 – Every blockchain and cryptocurrency phrase you need to know.

31.Liquid Market

A liquid market is one with a large number of buyers and sellers, which allows buy or sell orders to be completed almost immediately. Cryptocurrency markets are liquid, whereas NFT markets are not. Most legitimate cryptocurrencies can be bought or sold at any time, whereas NFT traders need to list an item for sale in the hopes that a buyer will manually purchase it.

32.Mainnet

A blockchain protocol launching for public use will be put in the mainnet. This distinguishes it from a testnet, which is more like a beta launch of a blockchain protocol. 

33.Memecoin

Many cryptocurrencies aim to provide a utility or serve a purpose. Memecoins offer no prospect of utility and purely exist as speculative assets. Dogecoin is the most known, but there are many, many more. 

Dogecoin, the original meme coin.

  

34.MetaMask

An online, browser-based digital wallet used primarily for transactions on the Ethereum blockchain. 

35.Mining

Mining is the process by which transactions are verified, and blocks are added to a blockchain. This typically involves powerful computers solving complex cryptography problems. Crucially, this is also how new cryptocurrency is added into circulation. In the case of bitcoin, roughly six bitcoins are minted each time a new block is mined.

36.Mining Rig

A powerful computer is set up for the specific purpose of mining cryptocurrencies. 

37.Mining Farm

A warehouse (or room) of mining rigs that operate throughout the day, mining cryptocurrencies.

38.Mint

On blockchains, minting means verifying information and lodging it as a block on the chain.

“Minting” an NFT means buying it from its creator during a public sale. “Mint price” refers to what its creators sell it for — for instance, the Bored Ape Yacht Club “mint price” was 0.08 ether. After all NFTs in a collection are minted, traders who want exposure to that collection need to buy them off a secondary market like OpenSea.

39.Multi-chain

An app or service designed to be used on multiple blockchains. This is different from cross-chain apps and services, which are developed to send data or assets from one blockchain to another. 

40.Moon

A dramatic spike in price is referred to as “mooning” or “a moon.” “To the moon” is a common phrase.