Unbanked
The unbanked are individuals who do not use or have access to traditional banking services. This can be by choice or due to systemic barriers like geography, income, or lack of documentation.
Uncle Block (Ommer Block)
An uncle block, also called an ommer block, is a block that was mined at the same time as another but was excluded from the final blockchain. These blocks are still valid and may be rewarded to encourage decentralization.
Unconfirmed
A transaction is unconfirmed when it has been broadcast to the blockchain network but has not yet been added to a block.
UNI Token
UNI is the governance token of Uniswap. Holders can vote on protocol upgrades, fund allocations, and other decisions related to the decentralized exchange.
Unit of Account
A unit of account is a standard measurement used in finance to price goods, services, and assets. In crypto, tokens like BTC or ETH can serve this function within their ecosystems.
United States House Committee on Financial Services
This U.S. congressional committee oversees the financial services sector, including banking, securities, insurance, and housing. It plays a key role in shaping crypto-related regulations.
Unpermissioned Ledger
An unpermissioned ledger, also called a public blockchain, allows anyone to participate in validating transactions without requiring prior approval or identity verification.
Unrealized Profit & Loss
Unrealized P&L refers to gains or losses on an open position that hasn’t been sold or closed. The value is “on paper” and can change with the market.
Unregulated
A system or activity is unregulated if it is not controlled by a centralized authority or regulatory agency. Many crypto assets operate in unregulated or loosely regulated environments.
Unspent Transaction Output (UTXO)
UTXOs represent the amount of crypto that remains after a transaction. They are used as inputs for future transactions and are foundational to Bitcoin’s accounting model.
Unstoppable Domains
Unstoppable Domains is a company offering blockchain-based domain names that are censorship-resistant and not governed by traditional DNS systems.
US Office of Foreign Assets Control (OFAC)
OFAC is an enforcement agency under the U.S. Treasury that monitors sanctions, enforces trade laws, and can blacklist crypto addresses linked to prohibited activities.
Use Case
A use case describes how a system or product can be used to solve a specific problem or provide value. In crypto, use cases range from payments and lending to gaming and identity.
Useful Proof of Work (UPoW)
UPoW is a variation of proof of work that repurposes mining effort for useful tasks, like training AI models or protein folding, instead of solving arbitrary puzzles.
User Interface
The user interface (UI) is the part of a website or app that users interact with directly. A well-designed UI makes trading, bot management, or data review more intuitive.
UTC Time
Coordinated Universal Time (UTC) is the global standard for timekeeping used in finance, exchanges, and 3Commas bot scheduling.
Utility Mining
Utility mining rewards users with tokens for interacting with a blockchain project in meaningful ways, such as using dApps or providing liquidity.
Utility Token
A utility token provides access to a service or product within a blockchain ecosystem. It is not meant to represent ownership or function as a financial asset.