FTX US Derivatives

• An application-specific integrated circuit (ASIC) miner is a computerized device or hardware that uses an ASIC solely to mine bitcoin or another cryptocurrency.

• An atomic swap is a cryptocurrency exchange between two parties who want to exchange tokens from different blockchains.

• Decentralized applications, also known as “dApps” or “dapps”, are digital applications that run on a network of blockchain computers instead of relying on a single computer.

• Digital currencies are currencies that are only accessible from computers or mobile phones because they only exist in electronic form.

• Double spending occurs when someone changes the blockchain network and inserts a special one that allows them to repurchase cryptocurrency.

• Gwei is the denomination of the cryptocurrency ether (ETH) used on the Ethereum network to buy and sell goods and services.

• Hashed Time Lock Contract (HTLC) reduces counterparty risk in decentralized smart contracts by effectively creating a time-based escrow that uses a cryptographic passphrase.

• A horizontal spread is a simultaneous long and short position in derivatives for the same underlying asset and strike price, but with different expiration dates.

• IOTA is a distributed ledger designed to process transactions between connected devices in the IoT ecosystem, and its cryptocurrency is known as MIOTA.

• The Kimchi premium is the price gap for cryptocurrencies on South Korean exchanges compared to foreign exchanges.

• Kin is a cryptocurrency offered by the messaging service Kik, launched through an ICO in 2017.

• Obelisk is a proprietary blockchain consensus algorithm of the Skycoin ecosystem.

• In blockchain-based cryptocurrencies, off-chain transactions refer to those that take place outside of the blockchain itself.

• On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains.

• An orphan block is a block that has been resolved on the blockchain network but not accepted by the network.

Qtum is a cryptocurrency that combines the security of the Bitcoin blockchain model with the flexibility of Ethereum smart contracts.#

• A Simple Agreement for Future Tokens (SAFT) is a security issued for the eventual transfer of digital tokens from cryptocurrency developers to investors.

• Tick size - the minimum change in the price increment of a trading instrument. – Tick sizes used to be in fractions (e.g. 1/16th of $1), but today they are mostly decimal based and expressed in cents.

• Ommer blocks are created on the Ethereum blockchain when two blocks are created and sent to the ledger at roughly the same time. Only one can enter the register.

• Virtual currencies are digital representations of value that are transacted over online networks or the Internet.

• The Witching Hour is the last hour of trading before options or other derivatives contracts expire.

• tZero (t0) is a blockchain-based asset exchange launched by online retailer Overstock to address ICO regulatory compliance.

• Protocol 0x is an open protocol that enables peer-to-peer asset exchange on the Ethereum blockchain.

• Blockchains are distributed ledgers that record every transaction made on the cryptocurrency network.

• The term “altcoin” refers to all cryptocurrencies except bitcoin (and for some people, ethereum).