Category Archives: Money Glossary

You have to speak the lingo

Ethereum

Ethereum is a decentralized software platform that enables SmartContracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party.

Cryptocurrency

A digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency is that it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

Profit and Loss Statement (P&L)

A financial statement that summarizes the revenues, costs and expenses incurred during a specified period of time, usually a fiscal quarter or year. These records provide information about a company's ability—or lack of ability—to generate profit by increasing revenue, reducing costs or both.