5 CRYPTO TERMS THAT YOU SHOULD KNOW!📜

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# 👉 CONSENSUS

A **consensus mechanism** is the programming and process used in blockchain systems to achieve distributed agreement about the ledger's state or the state of a data set. Cryptocurrencies, blockchains, and distributed ledgers benefit from their use because consensus mechanisms replace much slower and sometimes inaccurate or untrustworthy human verifiers and auditors.

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# 👉 DAO

A **DAO, or decentralized autonomous**, organization refers to a business entity that is represented as transparent rules in a number of smart contracts. They aim to reduce centralization as much as possible, typically giving the community the ability to govern the future of the DAO and its products by voting for or against any proposed changes or updates.

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# 👉 EVM

**Ethereum Virtual Machine (EVM)** is a software that sets the rules of computing the state of the Ethereum network from block to block. The EVM is a core part of Ethereum as it executes smart contracts, processes transactions, and updates account balances.

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# 👉 FUD

**Fear, uncertainty, and doubt**—refers usually to information that is likely to push people toward a pessimistic view of the market.

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# 👉 HALVING

The reduction of the block reward for Bitcoin mining by 50%. A **halving** occurs after 210,000 blocks have been mined since the last, which corresponds to roughly every 4 years. The Bitcoin network started with a 50 BTC block reward and currently, after 3 halvings, it is at a level of 6.25 BTC per block.

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