Faucet
By CoinGecko | Updated on Apr 09, 2020
A faucet usually represents a site or app where a user can navigate to for small rewards repeated over time. Certain sites that monetize faucets involve requiring users to watch advertisements, or complete certain actions before earning their rewards.Faucets are commonly used during the early days of Bitcoin where users are able to request for Bitcoin for free, or in many different altcoins as a marketing move to get users interested in the coin.
Related Terms
Emission
The speed/rate at which new coins are minted and released as dictated by the protocols written.
IYKYK
Abbreviation for: if you know you know. The phrase implies that the user has dropped some sort of insider knowledge about a specific experience. Often, the post will have some callback to a particular experience that will instantly stand out to those who are “in the know,” or ironically sharing commonly known information.
Cold Storage
Offline storage of cryptocurrencies which is arguably safer as they also require physical access (eg. hardware wallet, paper wallets)
Ring Signature
A type of digital signature performed in a group where it becomes impossible to determine which member's key in the group were used for the digital signature.
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