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terminology

Financial Technology:
Financial Technology (FinTech) is the financial sector that incorporates technology into financial methods in a way capable of disrupting traditional financial structures, providing a range of new, modern, innovative, and convenient services for the companies and consumers.

Cryptocurrencies:
Cryptocurrencies are a kind of digital currency that appeared in 2008. Although their use as a medium of exchange, is still limited, it seems that they will flood the global digital economy shortly. A notable difference between traditional currencies and cryptocurrencies, although they have similar properties, is that they use cryptographic methods for encryption and concealment. Most cryptocurrencies use blockchain technology.

Blockchain:
It is a decentralized method of recording any type of transaction in such a way that the recordings are permanent and verifiable. The blockchain has three main characteristics:
1. The number of the previous block (The cryptographic footprint of the previous one)
2. the information to be recorded (e.g. Transaction)
3. an identifier number of each block (The cryptographic footprint of that block)
Each transaction is linked to the previous one and all data is publicity recorded.

Peer to Peer:
A peer-to-peer (P2P) computer network is a network that allows two or more computers to share their resources equally. This network uses the processing power, storage space, and bandwidth of the nodes. All network nodes have equal rights. Information at one node, depending on the rights specified, can be read by anyone else and vice versa.

Proof Of Work:
It is a mechanism that verifies the creation of a new block (transaction). The action is performed through the Hush encryption function (finding a unique serial number) where users who will offer processing power in exchange for a certain amount of cryptocurrency (miners) will validate. Proof of its correct process is the processing power and consequently, the energy expended. A key feature of these systems is their asymmetry: the work must be moderately hard (but feasible) on the part of the applicant, but easy to control for the service provider.

Proof Of Stake:
Proof of participation (POS) is a method by which a blockchain network of cryptocurrencies aims to achieve distributed consensus. Although the method of proof of work requires users to repeatedly run fragmentation algorithms to validate electronic transactions, proof of participation requires users to prove ownership of a certain amount of currency (their "participation" in the currency). The proof of work is based on the use of energy. The method of proof of participation can be several thousand times more efficient.

POW / POS Hybrid:
A PoW/PoS hybrid system uses the POW mechanism for initial coin cutting and distribution. That is, POW allows the network to distribute new coins to those who mine coins. However, over time, the PoS mechanism turns off the PoW mechanism, creating a long-term energy-efficient cryptocurrency. In this hybrid design, block production, instead of being based on one CPU per vote, is based on the concept of a multitude of coins or coinage. Coinage is about the number of coins of an owner multiplied by the time of ownership by the current owner of the currency. Block production thus goes to the block with the most coins (depending on the coinage). Furthermore, currencies are cut by one percentage point of consumption per year, which serves as an interest rate for the currency. The main advantage, however, is that this system is not based on high energy consumption in the long run.