Bounties are simple tasks of jobs by the team behind a coin. These can be as simple as joining a Telegram channel or by (re)tweeting. It could also be a bit more difficult like a translation job for example. The participants receive rewards in the form of coins in exchange for completing these bounties.
DAO is an abbreviation of ‘Decentralised Autonomous Organization’. This is basically an organisation that runs automatically on itself without any human interventions. The work is automatically excecuted through Smart contracts.
Proof of stake is a consensus mechanism used by some blockchain networks to achieve distributed consensus. In proof of stake, the creator of a new block is chosen in a deterministic way, depending on their stake in the network (how many coins they hold). This means that the more coins a validator holds, the more likely they are to create the next block and earn the block reward. Proof of stake is intended to be a more energy-efficient alternative to proof of work, which is used by networks like Bitcoin.
FOMO stands for "fear of missing out." In the cryptocurrency industry, it refers to the feeling of anxiety that an individual may experience when they believe that they are missing out on potential profits by not investing in a particular cryptocurrency or not buying more of one that they already own. This can lead to impulsive buying decisions and can contribute to market volatility.
Cold storage refers to storing cryptocurrency on a place where the private key cannot be accessed via the internet. This can be done on a hardware wallet, paper wallet or software wallet in an offline environment.
A block explorer is an online service to track blockchain transactions. It usually is a website where you can see all the new blocks that are being created. You can also search for transactions and wallet addresses. The best-known block explorers are blockchain.info for Bitcoin and etherscan.io for Ethereum.
