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Crypto Semantics

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Crypto Semantics

In cryptocurrency, sometimes terms are used loosely or one term is used in place of another. Consider cryptographic semantics.

An example of what I mean is the cryptocurrency itself.

When talking about crypto technology, a variety of additional encryption-based programs can be described as crypto assets or digital assets. This is because not all crypto tokens are intended for use as currency. However, it is common to call it an additional class of crypto or cryptocurrency. Sometimes these terms are used interchangeably, other times they are used separately.

Blockchain and Distributed Ledger Technology (DLT) have the same correlation between cryptocurrency and cryptocurrency assets. Blockchain is a specific type of distributed book technology. Distributed ledger technologies are therefore a few elements, and the blockchain is a subset of it, and Bitcoin is a subset of this blockchain. However, in a regular interview, anyone can call DLT “Blockchain” or “Blockchain” even though I think I am referring specifically to Bitcoin Blockchain.

The chips fall into the same trap. The reality of crypto chips is that when we talk about crypto, there are many different types of chips to mention. Crypts are valuable tokens, there is cryptographic data called tokens, the computer security technology behind the data in the crypto chip, sometimes the crypts that live in the common ledger of another cryptocurrency are called “tokens” , etc. The term token can be used to talk about anything in general or to talk about something in particular … you often don’t get a warning about meaning out of context.

Looking at these examples, I would like to say that the basic rules are:

Context is king. If you know what people are talking about out of context, the specific terms used shouldn’t be so important in a casual conversation or discussion.
It seems a little offensive to (politely) ask people to use the correct sentences when they are close enough to the rep.
In other words, not everyone can say “crypto assets” and “distributed ledger technology” … but many can say “cryptocurrency” and “blockchain”. The first set of terms may be more appropriate in some situations, but the second is close enough for most situations.

Ultimately, the difference between finding a piece of paper or finding Kleenex is not the case in most cases if the context is clear outside of the business presentation. Instead, everything becomes semantic in most situations.

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