Decryptionary Helps New Investors Understand Crypto Terms
The Simple Ledger Protocol (SLP) has garnered a lot of attention over the last few months as there’s been a wide variety of tokens created on top of the Bitcoin Cash network. On May 10, the Tokyo-based Alliance Cargo Direct revealed the SLP-minted token ACD and bitcoin cash will be accepted by thousands of online and brick-and-mortar merchants from Japan and around the world.Also read: How to Generate QR Codes for Crypto PaymentsEver since the launch of the SLP project, lots of Bitcoin Cash supporters have been creating new and inventive tokens so they can share and trade with each other. There have been all types of SLP-based coins made with various supply counts and different ideas behind them. This week Alliance Cargo Direct, a subsidiary of ANA Holdings (ALNPF), explained that an SLP token called ACD will be accepted by thousands of physical and online merchants. Moreover, the same affiliate retailers will accept bitcoin cash as well and the company has also initiated an ACD coin buy back project.Bitcoin.com’s CEO Roger Ver divulged the news on the official Bitcoin.com Youtube channel detailing how Alliance Cargo Direct decided to launch payments using ACD. Ver emphasized that the initial launch would be “thousands at first and hopefully tens of thousands” of brick-and-mortar and online shops both domestically in Japan and globally. “You will be able to pay with two different cryptocurrencies at these vendors — ACD token and bitcoin cash,” Ver reported.After payments are made using the affiliate retailers, Alliance Cargo Direct will also be buying back ACD in order to provide liquidity and add more value to ACD. The Japanese firm Alliance Cargo Direct and its CEO, Mr. Yasuhiro Sonoda, chose the BCH network because it will “benefit our customers by offering fast, cheap and reliable worldwide transactions for both online and offline payments.”The recent news from Japan also follows the SLP-based coin merit (LLM), a token that was recently listed on the Altilly exchange and created for the micronation Liberland. With the SLP ecosystem starting to generate a network effect, LLM was created to strengthen the country and help Liberland citizens prosper. Now, the SLP-created tokens ACD and LLM are being swapped for other currencies on crypto trading platforms. Further, news.Bitcoin.com was told that the new digital advertising marketplace Tribeos and its Security Token Offering (STO) called “FIRE” will be based on the Simple Ledger Protocol. The Tribeos offering was also approved by the Bermuda Minister of Finance under new digital asset laws as well.As SLP tokens begin to gather real value, users who wish to store these new digital assets don’t have to keep them on an exchange either. SLP-based tokens can be stored non-custodially using Badger, Electron Cash, and the Crescent Cash wallet. Token users can also check their transactions using the SLP explorer Simpleledger.info. For example, the website shows statistical data and ACD is the eighth most popular SLP token this month. The recent announcement to use ACD and BCH at thousands of online and physical stores should further drive growth of the token protocol.What do you think about the ACD token and BCH being accepted at thousands of online and brick-and-mortar retailers? Let us know your thoughts about this subject in the comments section below.Image credits: Shutterstock, Youtube, Bitcoin.com’s Block Explorer, and Simpleledger.infoEnjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTCsecurely with a credit card. How do you scale a blockchain so that it can process hundreds or even thousands of transactions per second –… read more. Crypto Twitter (CT) is a grueling battleground between digital currency enthusiasts, company executives, maximalists, journalists, lawyers, and so-called thought leaders… read more. Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.
Rising cryptocurrency markets may once again arouse the interest of new investors. The crypto space has its specifics and it takes some effort to acquaint oneself with the terminology. Decryptionary has been created to impart the basic information you need to start understanding Bitcoin better. Also read: How to Generate QR Codes for Crypto PaymentsDecryptionary provides concise definitions of many terms that are widely used in the crypto industry. You have the option to look up a specific word or phrase relating to cryptocurrencies and distributed ledgers using the site’s search bar. Alternatively, you can access the full contents of the online dictionary where entries are listed by first letter or number.You’ll be able to understand the meaning of terms such as blockchain explorer, total supply, peer to peer, proof of work, public key, decentralized exchange, escrow, zero confirmation, and many more. If you can’t find a word you are searching for, you can also suggest new entries.The website offers thematic word lists as well. For example, the “25 Common Cryptocurrency Words You Should Know” page has been prepared for beginners and it explains mining, hashing, wallets, keys, and addresses. There’s also the “20 Blockchain Words You Should Know” list which contains definitions for block, sidechain, fork, and node.Decryptionary doesn’t stop there. If you want to dive deeper into digital asset trading, it will help you learn the characteristic slang including words like hodl, fud, fomo, and jomo. Mooning, flippening, shilling and shitcoin are some of the other notable entries. The platform explains what a bull trap is as well as what’s common between the Byzantine generals problem and Bitcoin.If you have more questions, you can also refer to Bitcoin.com’s Knowledge Base which provides an extensive library of Bitcoin resources. There you’ll find out how to get started with cryptocurrencies by downloading a wallet and buying your first bitcoin cash. The portal will also help you choose a cryptocurrency exchange, avoid fraud, set up cold storage, understand bitcoin mining, and much more.Can you recommend other sources of basic information about the crypto space? Let us know in the comments section below. Disclaimer: Readers should do their own due diligence before taking any actions related to third party companies or any of their affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any third party content, goods or services mentioned in this article.Images courtesy of Shutterstock, Decryptionary.Enjoy the easiest way to buy Bitcoin online with us. Download your free Bitcoin wallet and head to our Purchase Bitcoin page where you can buy BCH and BTC securely with a credit card. Cointext allows you to send bitcoin cash (BCH) to anyone with a mobile phone in the regions supported by the… read more. Are you a professional or a hobbyist programmer and want to create cryptocurrency enabled applications? Bitcoin.com's Developer Platform offers resources… read more. Lubomir Tassev is a journalist from tech-savvy Bulgaria, which sometimes finds itself at the forefront of advances it cannot easily afford. Quoting Hitchens, he says: ”Being a writer is what I am, rather than what I do.“ International politics and economics are two other sources of inspiration.
Source from : News.bitcoin
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