Every blockchain and cryptocurrency phrase you need to know

Crypto and NFTs could face UK regulation crackdown in 2022 due to fears young people risk losing money
FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

Against all odds, blockchain technology has gone mainstream. Bitcoin has become a household word, and financial institutions around the world invest in cryptocurrencies or allow their customers to do so. Meanwhile, NFTs have attracted the patronage of celebrities like Eminem, Jimmy Fallon and Stephen Curry.

But despite all the publicity, blockchain technology is still extremely arcane. It’s truly understood only by talented engineers — many of whom were early adopters of cryptocurrencies like bitcoin and ether — and can be overwhelming for the layperson.

Below is an alphabetical glossary of blockchain terms you might find useful. Note: It’s far from an exhaustive list of terms and phrases, but covers the basics.

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