Alt coin
Coins that are not bitcoin. The STX token is an alt coin, for example.
ATH
This is an acronym for ‘’All Time High”, usually referring to token price.
Balance
This is the amount of points in Brain Power a user accumulates by making correct predictions. Pay attention to Brain Power moments announced by Stox in our Telegram channels for notices on when the Brain Power balance can be converted to prizes and/or real STX tokens.
Bear, Bearish
Refers to a bear market or bearish conditions. This means a drop or dip in market value/price.
Vitalik Buterin
The creator of the Ethereum network.
Bull, Bullish
Refers to a bull market or bullish conditions. This means a price increase in value/price.
Cold storage
Cold storage (aka cold wallets) means generating and storing the coin’s private keys in an offline environment, away from the internet. This is a manual means of storage.
Dapp
A de-app, or decentralized app, connects users and providers directly.
ETH
This is an abbreviation for Ethereum.
FIAT
Real world currency which is not backed by an asset for value.
Fork
A fork or hard fork is a radical change to the protocol that makes previously invalid blocks/transactions valid (or vice-versa), and as such requires all nodes or users to upgrade to the latest version of the protocol software.
FUD
This is an acronym for Fear, Uncertainty and Doubt. FUD spreaders often appear as though they’re asking basic, benign, useless or repetitive questions - these are often mere attempts to spread FUD and reduce confidence in a token or overall project by pushing subjects to get attention.
Futarchy
This term was coined by our advisor, Robin Hanson, and means a form of government in which elected officials define measures of national welfare, and prediction markets are used to determine which policies will have the most positive effect.
Gwei
A measurement of gas price. Gas prices are calculated based on how much energy it takes to move a transaction through the blockchain.
Hardware wallet
A cryptocurrency wallet stores the public and private keys which can be used to receive or spend the cryptocurrency. A wallet can contain multiple public and private key pairs.
Hodl
‘’Hold on for dear life’’, as in keep your tokens. The typo was so prevalent this became adopted by the crypto community.
Leaderboard
This is the ranking list for where you stand amongst your peers on the platform. The Leaderboard is based upon ranking points and amount of times you've predicted correctly.
Markets
A market is a question posed on the platform which is open for users to predict upon.
Mining
Is the generation of cryptocurrency coins as reward for processing transactions.
Moon, Mooning
This refers to hitting the moon as a target for price.
Node
A node is simply a computer that participates in the Ethereum network.
POS
Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. In PoS-based cryptocurrencies the creator of the next block is chosen via various combinations of random selection and wealth or age (i.e. the stake).
POW
Proof-of-work (POW) system (or protocol, or function) is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer.
Predictions
A prediction is the vote you place on a market. For instance, if the market is ‘Will Real Madrid Beat Valencia’ and you vote Yes, you are making a prediction in favor of Real Madrid.
Ranking Points
These are points you receive for predicting correctly. These points can be converted for prizes and real STX tokens.
Smart Contract
This is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. Smart contracts allow the performance of credible transactions without third parties. These transactions are trackable and irreversible.
Stox Cup
The Stox Cup is a tournament where you can earn real STX tokens for placing on the leaderboard. Each Cup has it's rules of number of winning placeholders, which are announced at the beginning of each Stox Cup round.
Wallet
This is the personal wallet (not an exchange wallet) where you store your tokens or ethereum. This is the wallet needed to send or receive STX tokens that you have earned as a prize or reward.
Whales
Single individuals with large token holdings.
Wisdom of the Crowd
This reference is to the phenomenon of prediction accuracy from the average group of responses being closest to the correct answer. With the exception of ‘prophets’ in the crowd, the most popular response is often the most accurate.