Common terms in crypto.

Common terms in crypto.

Fork: Forks represent situations when a rule change is made to the common rules used to maintain the history and security of a blockchain. In some cases, forks are initiated to add new features to a blockchain or to repair technical issues. Typically, a fork is not considered contentious and is a standard part of blockchain development. Forks may also present situations where the intention is to create a new token.

Airdrop: Airdrops occur when token creators decide to distribute free tokens to holders of other established tokens. Airdrops may be used to create a community of token holders who can begin trading a token and create a market for wider adoption of the token.

Claims refer to the process by which one retrieves tokens through airdrops, giveaways and other promotions.

Stakes: Stakes refer to tokens that rely on proof-of-stake distribution, whereby tokens are distributed based on how many tokens a user already has.

Giveaways or Promotions: Giveaways or Promotions are similar to airdrops, but the criteria often do not require recipients to own established tokens. Giveaways may require recipients to use specific wallets.