Welcome to Hard Fork Basics, a collection of tips, tricks, guides, and advice to keep you up to date in the cryptocurrency and blockchain world.
Blockchain and cryptocurrency can be a daunting place sometimes and the swathes of jargon, specialist terminology, and acronyms don’t really help matters. Sometimes it feels like complex terms are used just to confuse people. But don’t worry, Hard Fork has got your back.
Below you’ll find a list of industry acronyms and what they stand for. We’re steadily building up explainers of all these terms too, so in some cases there might be a deeper dive on what the terms mean. Be sure to check back, as we’ll be adding to this list as new terms are invented.
General blockchain terms
PoW – Proof of Work
PoS – Proof of Stake
DPoS – Delegated Proof of Stake
PoA – Proof of Authority
BFT – Byzantine Fault Tolerance
DAG – Directed Acyclic Graph
SC – Smart Contract
EVM – Ethereum Virtual Machine
ERC – Ethereum Request for Comments, it’s the preceding acronym for Ethereum based tokens like the ERC20 standard.
DAO – Decentralized Autonomous Organization
DAPP – Decentralized Application
SegWit – Segregated Witness
SoV – Store of value
MoE – Medium of Exchange
UoA – Unit of Account