Fintech is a complex system that is hard to understand, which is why there is a list of difficult terms and their meanings for you to read. It’s always a safe option to study up on a new program or approach before actually using it.
This list of glossary can help you a lot in adapting to the program easily. The first word that is commonly used here is; 51% attack. This is when a group or one person controls more than fifty percent of the blockchain’s computing power. This can be dangerous as the person with most of the control can make, stop or reverse transactions.
Address; this is a safe identifier which initiates or accepts transactions related to blockchain. Users are supported so that, for every transaction, whether it is receiving or sending, they make a new address. This helps in securing privacy.
Algorithm; this is mostly called a consensus algorithm, when referring to blockchain. This is a protocol that solves any type of problems.
Andreas M. Antonopoulos; this is a Greek British expert on blockchain, who has a podcast known as, ‘Let’s Talk Bit Coin’. This man is a writer, speaker, consultant and a critic of the platform of trading.
API; which is short for Application Programming Interface, is a much needed function of Fintech, such as issue of payments and receipts.
Brute force attack; this is a trial and error method which is considered harmful.
Chad; this is a fictional trader of crypto currency, who has perfect sense of everything related to trade.
Companies like Proof Systems have a full service of digital marketing and use Fintech and Blockchain as a combination. You will see that is glossary will become a free ticket for you when you start using the new system.