Cryptocurrency Terms and Definitions

Coin burning is the deliberate and irreversible removal of part of the tokens from circulation. The mechanism reduces the supply of the asset and is often used to manage the issuance of a cryptocurrency.

The fear of missing out (FOMO) is an emotional fear of missing a profitable opportunity. In the crypto market it pushes people to buy assets on emotion, without analysis or a plan.

A scam is a fraudulent project or scheme that never intended to fulfill its obligations to participants. In the crypto market, the term refers to deceiving investors and siphoning off their funds.

A scamcoin is a cryptocurrency created not for the sake of technology but to enrich its organizers through manipulation or premining. Such coins carry an elevated risk for holders.

Scrypt is a hashing algorithm underlying a number of cryptocurrencies. It was created to be more memory-intensive and was originally designed to resist specialized hardware.