Glossary

State currency without commodity coverage, such as gold. Fiat currency is official currency only because the government has declared it official currency and enacted it by law. Examples of FIAT currencies are the US dollar, the euro, the Czech koruna, etc.

The fear of missing out on something. In the cryptocurrency world, this term is associated with the feeling that we see a large increase in the value of a cryptocurrency, and we fear we've missed out. The opposite to FOMO is JOMO (joy of missing out).

This means splitting the blockchain into two separate networks, as was the case with Bitcoin and the creation of the Bitcoin Cash blockchain. Fork is also referred to as a blockchain rule change.

Fear, uncertainty and doubt. Due to the volatility of cryptocurrencies, this feeling is relatively common for newcomers to the cryptoworld. FUD especially kicks in when value decreases rapidly. You consider whether the bubble has burst and if to sell your cryptocurrencies, even at a big loss.