Pump and Dump Scheme
By CoinGecko | Updated on Aug 12, 2021
A scheme in which the development team (or short-term traders) hypes up a project without fundamental basis in order to pump up the price of the tokens temporarily and then sells their holdings immediately after launch to earn a profit. See the US SEC's investor alert on pump and dump schemes.
Related Terms
Nonce
Abbreviation for ‘number only used once’ It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Unspent Transaction Output
(abbv. "UTXO") Coins that are unspent in the wallet. UTXO virtually represents the cryptocurrency one own in the wallet.
Application Programming Interface (API)
It is a software that acts like an intermediary or a bridge that lets two applications talk to each other. It is the one that lets applications, data and devices interact.
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