Digital assets

• BitcoinThe first and largest cryptocurrency, with a supply capped at 21 million units.
• BlockchainA shared record of transactions maintained by many computers rather than one authority.
• Consensus mechanismThe method a blockchain uses to agree which transactions are valid.
• CryptocurrencyA digital asset recorded on a distributed ledger rather than by a bank or government.
• Decentralised financeFinancial services built from smart contracts rather than from institutions.
• HalvingThe scheduled reduction in the rate of new bitcoin issuance, roughly every four years.
• Private keyThe secret that proves ownership of a crypto holding, and the only thing that does.
• Smart contractCode deployed on a blockchain that executes automatically when its conditions are met.
• StablecoinA crypto token designed to hold a fixed value, usually one US dollar.
• StakingLocking up tokens to help validate a network, in exchange for a reward.
• Yield farmingMoving crypto between protocols to capture the highest available rewards.

Educational reference only. Nothing here is investment advice or a recommendation to buy or sell anything, and tax treatment depends on your own circumstances and the country you are in.