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.
Launched in 2015, Ethereum is the world's programmable blockchain. Like other blockchains, Ethereum has a native cryptocurrency called Ether (ETH). ETH is digital money. People all over the world use ETH to make payments, as a store of value, or as collateral. But unlike other blockchains, Ethereum can do much more.
A ‘51% attack’ refers to a possible attack on a blockchain by a group of ‘miners’, who hold more than 50% of the hashrate. In such a situation the ‘miners’ have the possibility to deliberately not confirm transactions or to issue transactions twice (double-spend).
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.
DYOR stands for "Do Your Own Research." It is a phrase commonly used in the cryptocurrency community as a reminder to individuals to conduct their own research and analysis before investing in a particular cryptocurrency or project. It is important for investors to understand the technology behind a project, its team members, its partnerships, and its overall potential before investing. DYOR helps investors to make informed decisions and to avoid being swayed by hype or FOMO (fear of missing out).
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.
