Cryptocurrency Terms and Definitions

An escrow transaction is a way to protect funds in a deal between parties who do not trust each other: the money is temporarily held by an independent intermediary or a smart contract and released only when the conditions are met.

Escrow in the context of an ICO refers to intermediaries' accounts where the raised funds are kept. The project team receives funding in installments as the roadmap milestones are completed, which protects investors.

A token is a digital unit of account that exists in a distributed ledger on top of someone else's blockchain. Unlike a cryptocurrency, a token has no network of its own and can represent a wide variety of rights and assets.

A trade agreement is an agreement between a seller and a buyer that sets out the key terms of a deal: the subject, price, volume, and the order of payment and delivery. It defines the rights and obligations of the parties.

A trader is a market participant who carries out trading operations with assets to earn income on the difference in prices. In the crypto space, traders work with coins and tokens on exchanges and other platforms.