Airdrop
When #cryptocurrency projects distribute their native #tokens straight to their customers' wallets.
[#web3 glossary thread]
When #cryptocurrency projects distribute their native #tokens straight to their customers' wallets.
[#web3 glossary thread]
Alpha
Important or insider knowledge, notably about the value of #digital assets such as #cryptocurrencies and #NFTs; a measure of an investment's return over and above that of the market or other benchmark.
[#web3 glossary thread]
Important or insider knowledge, notably about the value of #digital assets such as #cryptocurrencies and #NFTs; a measure of an investment's return over and above that of the market or other benchmark.
[#web3 glossary thread]
Altcoin
Formerly used to describe any #cryptocurrency that wasn't #Bitcoin; however, #altcoin is now used to describe any new cryptocurrency with a low market valuation.
[#web3 glossary thread]
Formerly used to describe any #cryptocurrency that wasn't #Bitcoin; however, #altcoin is now used to describe any new cryptocurrency with a low market valuation.
[#web3 glossary thread]
Ape
Someone who invests significantly in a #cryptocurrency or stock, or the act of investing excessively in a cryptocurrency or stock. This might be a response to #FOMO.
[#web3 glossary thread]
Someone who invests significantly in a #cryptocurrency or stock, or the act of investing excessively in a cryptocurrency or stock. This might be a response to #FOMO.
[#web3 glossary thread]
ATH
Stands for All-Time High. It is the highest #price ever paid for an #asset.
[#web3 glossary thread]
Stands for All-Time High. It is the highest #price ever paid for an #asset.
[#web3 glossary thread]
ATL
Stands for "All Time Low" and refers to the lowest price an #asset has ever had.
[#web3 glossary thread]
Stands for "All Time Low" and refers to the lowest price an #asset has ever had.
[#web3 glossary thread]
Bear market
A period of fall in a financial #market is referred to as a bear
market.
[#web3 glossary thread]
A period of fall in a financial #market is referred to as a bear
market.
[#web3 glossary thread]
Bearish
Refers to having a gloomy opinion of a #market or asset's worth, akin to a bear market. If you're bearish on a #cryptocurrency, you think its #price will fall over time.
[#web3 glossary thread]
Refers to having a gloomy opinion of a #market or asset's worth, akin to a bear market. If you're bearish on a #cryptocurrency, you think its #price will fall over time.
[#web3 glossary thread]
Bitcoin
World's first #decentralised, peer-to-peer #digital money, founded in 2009 by Satoshi Nakamoto.
[#web3 glossary thread]
World's first #decentralised, peer-to-peer #digital money, founded in 2009 by Satoshi Nakamoto.
[#web3 glossary thread]
Block
Collection of transactions that have been published to the #blockchain. Every block carries information about the block before it, allowing them to be linked together.
[#web3 glossary thread]
Collection of transactions that have been published to the #blockchain. Every block carries information about the block before it, allowing them to be linked together.
[#web3 glossary thread]
Blockchain
Decentralised #digital ledger that allows users to store and transmit #data without the need for a central authority. Blockchains are the foundational #technology for #cryptocurrency systems such as #Bitcoin and #Ethereum.
[#web3 glossary thread]
Decentralised #digital ledger that allows users to store and transmit #data without the need for a central authority. Blockchains are the foundational #technology for #cryptocurrency systems such as #Bitcoin and #Ethereum.
[#web3 glossary thread]
Block Explorer
A tool for viewing information on a #blockchain, including transactions, #wallet addresses, market caps, and hash rates.
[#web3 glossary thread]
A tool for viewing information on a #blockchain, including transactions, #wallet addresses, market caps, and hash rates.
[#web3 glossary thread]
Bridge
A protocol that allows different #blockchains to communicate with one another, allowing #data, coins, and other information to be transferred.
[#web3 glossary thread]
A protocol that allows different #blockchains to communicate with one another, allowing #data, coins, and other information to be transferred.
[#web3 glossary thread]
Bullish
Having an optimistic opinion that a market or asset will grow in #price, is akin to a bull market. If you're a #Bitcoin bull, you think the currency's value will rise over time.
[#web3 glossary thread]
Having an optimistic opinion that a market or asset will grow in #price, is akin to a bull market. If you're a #Bitcoin bull, you think the currency's value will rise over time.
[#web3 glossary thread]
Burn
The act of withdrawing tokens from a #cryptocurrency's circulating supply by transferring them to an inaccessible #wallet address is known as burning.
[#web3 glossary thread]
The act of withdrawing tokens from a #cryptocurrency's circulating supply by transferring them to an inaccessible #wallet address is known as burning.
[#web3 glossary thread]
Centralised
A hierarchical organisation in which power and control are concentrated among a small set of decision-makers.
[#web3 glossary thread]
A hierarchical organisation in which power and control are concentrated among a small set of decision-makers.
[#web3 glossary thread]
CEX - Centralised Exchange
A #cryptocurrency exchange controlled by a centralised firm or organisation: Coinbase, Gemini, and Kraken, for example.
[#web3 glossary thread]
A #cryptocurrency exchange controlled by a centralised firm or organisation: Coinbase, Gemini, and Kraken, for example.
[#web3 glossary thread]
Coin
A #cryptocurrency developed on its own native #blockchain and designed to serve as a store of value and medium of exchange inside that ecosystem. Ex: BTC, ETH, etc.
[#web3 glossary thread]
A #cryptocurrency developed on its own native #blockchain and designed to serve as a store of value and medium of exchange inside that ecosystem. Ex: BTC, ETH, etc.
[#web3 glossary thread]
Collateral
Any asset that is accepted as collateral for a loan, such as real estate or a digital asset like an #NFT.
[#web3 glossary thread]
Any asset that is accepted as collateral for a loan, such as real estate or a digital asset like an #NFT.
[#web3 glossary thread]
Cold wallet
A device that stores #crypto offline. Cold wallets are either physical devices or sheets of paper that carry a user's private keys. Cold wallets are considered a safer way of keeping cryptocurrencies since they are not linked to the internet.
[#web3 glossary thread]
A device that stores #crypto offline. Cold wallets are either physical devices or sheets of paper that carry a user's private keys. Cold wallets are considered a safer way of keeping cryptocurrencies since they are not linked to the internet.
[#web3 glossary thread]
Consensus
The condition of agreement among the nodes on a #blockchain. For new transactions to be confirmed and new blocks to be added to a blockchain, #consensus is required.
[#web3 glossary thread]
The condition of agreement among the nodes on a #blockchain. For new transactions to be confirmed and new blocks to be added to a blockchain, #consensus is required.
[#web3 glossary thread]
Consensus Mechanism
The mechanism through which nodes on a #blockchain agree on a transaction or the network's state. Ref: Proof-of-Stake and Proof-of-Work.
[#web3 glossary thread]
The mechanism through which nodes on a #blockchain agree on a transaction or the network's state. Ref: Proof-of-Stake and Proof-of-Work.
[#web3 glossary thread]
Cryptocurrency
A #digital asset meant to be used as a means of trade and exchange. Unlike centralised banks or governments, #cryptocurrency is borderless, safe, and maintained by #blockchains.
[#web3 glossary thread]
A #digital asset meant to be used as a means of trade and exchange. Unlike centralised banks or governments, #cryptocurrency is borderless, safe, and maintained by #blockchains.
[#web3 glossary thread]
Decentralised Autonomous Organisation
An entity that's managed by its users & is built on a decentralised network. #DAOs focus on a single objective, and they substitute the old hierarchical processes bof legacy orgs for blockchain-based principles.
[#web3 glossary thread]
An entity that's managed by its users & is built on a decentralised network. #DAOs focus on a single objective, and they substitute the old hierarchical processes bof legacy orgs for blockchain-based principles.
[#web3 glossary thread]
Dapp - Decentralised Application
A #blockchain-based application built on a decentralised network. #Dapps live independently of centralised organisations or individuals, and they often reward #tokens to incentivise users to keep them up to date.
[#web3 glossary thread]
A #blockchain-based application built on a decentralised network. #Dapps live independently of centralised organisations or individuals, and they often reward #tokens to incentivise users to keep them up to date.
[#web3 glossary thread]
Data
Any information entity on the #internet, such as name, age, location, interests, browsing history, and so on. Web3 intends to secure this sensitive information and return control to the user.
[#web3 glossary thread]
Any information entity on the #internet, such as name, age, location, interests, browsing history, and so on. Web3 intends to secure this sensitive information and return control to the user.
[#web3 glossary thread]
Due Diligence
Practise of performing your own research before investing in a #cryptocurrency, #stock, or other assets. It's critical to do your own due diligence rather than relying on what someone else says or does.
[#web3 glossary thread]
Practise of performing your own research before investing in a #cryptocurrency, #stock, or other assets. It's critical to do your own due diligence rather than relying on what someone else says or does.
[#web3 glossary thread]
Decentralised
A system that runs without the supervision of a central person or authority, instead rely on a peer-to-peer #network.
[#web3 glossary thread]
A system that runs without the supervision of a central person or authority, instead rely on a peer-to-peer #network.
[#web3 glossary thread]
Degen
Derived from the phrase "degenerate gambler." While #degen still refers to those who make dangerous bets, it may also apply to anybody who works in the #crypto and #financial industries.
[#web3 glossary thread]
Derived from the phrase "degenerate gambler." While #degen still refers to those who make dangerous bets, it may also apply to anybody who works in the #crypto and #financial industries.
[#web3 glossary thread]
Decentralised Finance (#DeFi)
A blockchain-based form of #finance that does not rely on central financial intermediaries such as #brokerages, #exchanges, or #banks to provide traditional financial instruments, instead rely on smart contracts.
[#web3 glossary thread]
A blockchain-based form of #finance that does not rely on central financial intermediaries such as #brokerages, #exchanges, or #banks to provide traditional financial instruments, instead rely on smart contracts.
[#web3 glossary thread]
DEX - Decentralised Exchange
A #blockchain-based peer-to-peer #cryptocurrency exchange. Instead of an intermediate person or centralised organisation, a #DEX is managed by its users and smart contracts. Ex: Uniswap, 1inch, Sushiswap, etc.
[#web3 glossary thread]
A #blockchain-based peer-to-peer #cryptocurrency exchange. Instead of an intermediate person or centralised organisation, a #DEX is managed by its users and smart contracts. Ex: Uniswap, 1inch, Sushiswap, etc.
[#web3 glossary thread]
Diamond Hands
An expression that implies you are highly optimistic about a certain asset and have no intention of selling despite #market turbulence.
[#web3 glossary thread]
An expression that implies you are highly optimistic about a certain asset and have no intention of selling despite #market turbulence.
[#web3 glossary thread]
Difficulty Bomb
The process of making a proof-of-work #blockchain more difficult to use in order to encourage users to switch to a different #consensus method (such as proof-of-stake, in the case of #Ethereum).
[#web3 glossary thread]
The process of making a proof-of-work #blockchain more difficult to use in order to encourage users to switch to a different #consensus method (such as proof-of-stake, in the case of #Ethereum).
[#web3 glossary thread]
DYOR stands for "Do Your Own Research"
This term, like DD (Due Diligence), is used to urge consumers to do their own #research about an asset before investing in it.
[#web3 glossary thread]
This term, like DD (Due Diligence), is used to urge consumers to do their own #research about an asset before investing in it.
[#web3 glossary thread]
Ethereum Improvement Proposal (EIP)
A common framework for submitting a new feature to the #Ethereum community.
[#web3 glossary thread]
A common framework for submitting a new feature to the #Ethereum community.
[#web3 glossary thread]
Ethereum Request for Comments (ERC)
A standard smart contract framework that #Ethereum-based smart contracts are built on.
[#web3 glossary thread]
A standard smart contract framework that #Ethereum-based smart contracts are built on.
[#web3 glossary thread]
Ethereum
#Ethereum is a decentralised application platform built on top of a public blockchain. Ethereum is a turing-complete language that allows users to create and deploy sophisticated, self-executing smart contracts on the #blockchain.
[#web3 glossary thread]
#Ethereum is a decentralised application platform built on top of a public blockchain. Ethereum is a turing-complete language that allows users to create and deploy sophisticated, self-executing smart contracts on the #blockchain.
[#web3 glossary thread]
Fiat
A currency (like #US #Dollar) introduced as a legal tender and regulated by a #government entity.
[#web3 glossary thread]
A currency (like #US #Dollar) introduced as a legal tender and regulated by a #government entity.
[#web3 glossary thread]
FOMO
FOMO is "Fear Of Missing Out." A sensation of anxiety from the loss of an opportunity. This generally happens when investors acquire an asset after it has already seen a significant #price gain, expecting to get in and out before a downturn occurs.
[#web3 glossary thread]
FOMO is "Fear Of Missing Out." A sensation of anxiety from the loss of an opportunity. This generally happens when investors acquire an asset after it has already seen a significant #price gain, expecting to get in and out before a downturn occurs.
[#web3 glossary thread]
Fork
Changing the protocol of a #blockchain is called forking it. Soft fork -> when the modifications are small. When the modifications are significant, a hard fork may occur, resulting in the development of a second chain with its own set of rules.
[#web3 glossary thread]
Changing the protocol of a #blockchain is called forking it. Soft fork -> when the modifications are small. When the modifications are significant, a hard fork may occur, resulting in the development of a second chain with its own set of rules.
[#web3 glossary thread]
Fractionalising
To fractionalise the process of securing an #NFT in a smart contract and then breaking it into smaller pieces that are distributed as fungible #tokens. This decreases the cost of ownership for community members.
[#web3 glossary thread]
To fractionalise the process of securing an #NFT in a smart contract and then breaking it into smaller pieces that are distributed as fungible #tokens. This decreases the cost of ownership for community members.
[#web3 glossary thread]
FUD
Fear, Uncertainty, and Doubt (#FUD) news about an asset that seems to be unfavourable but turns out to be erroneous or exaggerated.
[#web3 glossary thread]
Fear, Uncertainty, and Doubt (#FUD) news about an asset that seems to be unfavourable but turns out to be erroneous or exaggerated.
[#web3 glossary thread]
Full node
A full #node is a #blockchain node that records the whole history of the blockchain as well as validates and relays transactions.
[#web3 glossary thread]
A full #node is a #blockchain node that records the whole history of the blockchain as well as validates and relays transactions.
[#web3 glossary thread]
Gas
On the #Ethereum #blockchain, gas is the cost paid by a user to complete a transaction or execute a smart contract. This cost is determined by the transaction's complexity as well as the network's current demand.
[#web3 glossary thread]
On the #Ethereum #blockchain, gas is the cost paid by a user to complete a transaction or execute a smart contract. This cost is determined by the transaction's complexity as well as the network's current demand.
[#web3 glossary thread]
Genesis Block
A #blockchain network's very first block is known as the Genesis Block.
[#web3 glossary thread]
A #blockchain network's very first block is known as the Genesis Block.
[#web3 glossary thread]
Gwei
#Gwei is an #ether denomination that is used to calculate #Ethereum #gas pricing.
1 ether = 10^9 gwei
[#web3 glossary thread]
#Gwei is an #ether denomination that is used to calculate #Ethereum #gas pricing.
1 ether = 10^9 gwei
[#web3 glossary thread]
Hard Fork
A hard fork is a major modification to a #blockchain that is incompatible with the present protocol and necessitates the creation of a new chain.
[#web3 glossary thread]
A hard fork is a major modification to a #blockchain that is incompatible with the present protocol and necessitates the creation of a new chain.
[#web3 glossary thread]
Hashing
#Hashing is the process of taking any size input and turning it into a fixed-length fingerprint output. The result of a hash function is known as a hash value or simply, a #hash. #MD5, #SHA-1 and SHA-2 are popular #cryptographic hashes.
[#web3 glossary thread]
#Hashing is the process of taking any size input and turning it into a fixed-length fingerprint output. The result of a hash function is known as a hash value or simply, a #hash. #MD5, #SHA-1 and SHA-2 are popular #cryptographic hashes.
[#web3 glossary thread]
Hash rate
The pace at which a computer can create guesses to a #cryptographic problem is known as #hash rate or hash power. On a proof-of-work #blockchain, the hash rate may also refer to the total amount of power consumed by the whole network.
[#web3 glossary thread]
The pace at which a computer can create guesses to a #cryptographic problem is known as #hash rate or hash power. On a proof-of-work #blockchain, the hash rate may also refer to the total amount of power consumed by the whole network.
[#web3 glossary thread]
HODL
Hold On for Dear Life: This phrase originated as a mistake on the Bitcointalk.org forum, when a member indicated that he was "HODLING" his #bitcoin as the price fell. It refers to the buy-and-hold strategy among #cryptocurrency investors.
[#web3 glossary thread]
Hold On for Dear Life: This phrase originated as a mistake on the Bitcointalk.org forum, when a member indicated that he was "HODLING" his #bitcoin as the price fell. It refers to the buy-and-hold strategy among #cryptocurrency investors.
[#web3 glossary thread]
ICO - Initial Coin Offering
The sale of #tokens to the general public in order to generate funds for a #crypto-based business is known as an #ICO. ICOs are a kind of #crowdfunding that is comparable to Initial Public ffering (#IPO).
[#web3 glossary thread]F
The sale of #tokens to the general public in order to generate funds for a #crypto-based business is known as an #ICO. ICOs are a kind of #crowdfunding that is comparable to Initial Public ffering (#IPO).
[#web3 glossary thread]F
IEO - Initial Exchange Offering
An initial exchange offering, like an initial coin offering, or #ICO, is a technique of selling #tokens to generate funds, but with more regulation.
[#web3 glossary thread]
An initial exchange offering, like an initial coin offering, or #ICO, is a technique of selling #tokens to generate funds, but with more regulation.
[#web3 glossary thread]
Light node
A #blockchain node that just downloads enough data from the blockchain to process and validate transactions. Light nodes, unlike full or master nodes, do not record the whole history of a blockchain.
[#web3 glossary thread]
A #blockchain node that just downloads enough data from the blockchain to process and validate transactions. Light nodes, unlike full or master nodes, do not record the whole history of a blockchain.
[#web3 glossary thread]
Liquidity
The ease with which an item may be purchased, sold or exchanged in a specific market or on an exchange.
[#web3 glossary thread]
The ease with which an item may be purchased, sold or exchanged in a specific market or on an exchange.
[#web3 glossary thread]
Liquidity Pool
A pool of user-provided money that is locked inside a smart contract to make trading on a #DeFi platform easier.
[#web3 glossary thread]
A pool of user-provided money that is locked inside a smart contract to make trading on a #DeFi platform easier.
[#web3 glossary thread]
Market Cap
The overall worth of an asset based on its current market price is known as its market cap. The market capitalisation of a #cryptocurrency is calculated by multiplying the price of a single #coin by its circulating supply.
[#web3 glossary thread]
The overall worth of an asset based on its current market price is known as its market cap. The market capitalisation of a #cryptocurrency is calculated by multiplying the price of a single #coin by its circulating supply.
[#web3 glossary thread]
Master Node
A master node is a #blockchain node that validates and transmits transactions, records the blockchain's entire history, and may vote, control the network, and perform other specialised roles.
[#web3 glossary thread]
A master node is a #blockchain node that validates and transmits transactions, records the blockchain's entire history, and may vote, control the network, and perform other specialised roles.
[#web3 glossary thread]
Metaverse
A simulated digital environment that combines augmented reality (#AR), virtual reality (#VR), #blockchain, and social media principles to create areas for rich user interaction that mirror the actual world.
[#web3 glossary thread]
A simulated digital environment that combines augmented reality (#AR), virtual reality (#VR), #blockchain, and social media principles to create areas for rich user interaction that mirror the actual world.
[#web3 glossary thread]
Mining
Gaining #cryptocurrencies by solving #cryptographic equations through the use of computers. This process involves validating data blocks and adding transaction records to a public record (ledger) known as a #blockchain.
[#web3 glossary thread]
Gaining #cryptocurrencies by solving #cryptographic equations through the use of computers. This process involves validating data blocks and adding transaction records to a public record (ledger) known as a #blockchain.
[#web3 glossary thread]
Minting
Minting is the process of confirming and certifying info on the #blockchain, such as domain ownership.
[#web3 glossary thread]
Minting is the process of confirming and certifying info on the #blockchain, such as domain ownership.
[#web3 glossary thread]
To the moon
A strong belief that a certain #cryptocurrency is soon going to rise significantly in price. This is practised by shills during a bull market.
[#web3 glossary thread]
A strong belief that a certain #cryptocurrency is soon going to rise significantly in price. This is practised by shills during a bull market.
[#web3 glossary thread]
Moonboy
Moonboy is a nickname used to describe excessively enthusiastic social media "financial gurus" who are continuously emphasising how a specific #asset (mostly #cryptocoins) is "heading to the moon!"
[#web3 glossary thread]
Moonboy is a nickname used to describe excessively enthusiastic social media "financial gurus" who are continuously emphasising how a specific #asset (mostly #cryptocoins) is "heading to the moon!"
[#web3 glossary thread]
NFT
A non-fungible token (#NFT) is a digital certificate of authenticity that is used to allocate and verify ownership of a single #digital or physical item. NFTs are not convertible with each other, unlike fungible #tokens.
[#web3 glossary thread]
A non-fungible token (#NFT) is a digital certificate of authenticity that is used to allocate and verify ownership of a single #digital or physical item. NFTs are not convertible with each other, unlike fungible #tokens.
[#web3 glossary thread]
NFT domains
#NFT domains are #blockchain-based domain names that enable users to establish their Web3 username.
[#web3 glossary thread]
#NFT domains are #blockchain-based domain names that enable users to establish their Web3 username.
[#web3 glossary thread]
NGMI -> "not going to make it."
This term is used to indicate that a project or asset has a low likelihood of becoming valued. This may also be aimed against a specific person, notably someone who has made a disastrous #investment or transaction.
[#web3 glossary thread]
This term is used to indicate that a project or asset has a low likelihood of becoming valued. This may also be aimed against a specific person, notably someone who has made a disastrous #investment or transaction.
[#web3 glossary thread]
No-coiner
No-coiner is a word used to describe someone who does not own any cryptocurrencies or is inexperienced with #cryptocurrency in general.
[#web3 glossary thread]
No-coiner is a word used to describe someone who does not own any cryptocurrencies or is inexperienced with #cryptocurrency in general.
[#web3 glossary thread]
Node
Any device that is linked to a #blockchain network is referred to as a node. Different nodes have different degrees of responsibility and may be used to verify transactions, maintain the blockchain's history, transmit data, and perform other tasks.
[#web3 glossary thread]
Any device that is linked to a #blockchain network is referred to as a node. Different nodes have different degrees of responsibility and may be used to verify transactions, maintain the blockchain's history, transmit data, and perform other tasks.
[#web3 glossary thread]
Oracle
#Oracle is a service that provides data from the outside world to smart contracts. Because smart contracts can't access data outside the #blockchain, they depend on oracles to retrieve, validate, and deliver external #data.
[#web3 glossary thread]
#Oracle is a service that provides data from the outside world to smart contracts. Because smart contracts can't access data outside the #blockchain, they depend on oracles to retrieve, validate, and deliver external #data.
[#web3 glossary thread]
P2P
A dispersed #network of two or more computers that connect directly without the need for a central #server or organisation.
[#web3 glossary thread]
A dispersed #network of two or more computers that connect directly without the need for a central #server or organisation.
[#web3 glossary thread]
Private Key
An alphanumeric passcode that may be used to withdraw funds from a #blockchain wallet and to approve #digital transactions. Because these private #keys are lengthy and difficult to recall, wallets usually pair them with a recovery phrase.
[#web3 glossary thread]
An alphanumeric passcode that may be used to withdraw funds from a #blockchain wallet and to approve #digital transactions. Because these private #keys are lengthy and difficult to recall, wallets usually pair them with a recovery phrase.
[#web3 glossary thread]
Proof of stake
Proof of Stake (PoS) is a consensus process in which validators, or nodes, stake a certain amount of crypto on the #blockchain in order to validate transactions and mint blocks.
[#web3 glossary thread]
Proof of Stake (PoS) is a consensus process in which validators, or nodes, stake a certain amount of crypto on the #blockchain in order to validate transactions and mint blocks.
[#web3 glossary thread]
Proof of work
Proof of Work (#PoW) is a consensus process in which #miners are required to solve challenging #mathematical problems in order to validate transactions and mint blocks; thereby acquiring permission to mint the next block and collect reward.
[#web3 glossary thread]
Proof of Work (#PoW) is a consensus process in which #miners are required to solve challenging #mathematical problems in order to validate transactions and mint blocks; thereby acquiring permission to mint the next block and collect reward.
[#web3 glossary thread]
Public Key
This is an alphanumeric #code that acts as the address for a #blockchain #wallet, comparable to a #bank account number.
[#web3 glossary thread]
This is an alphanumeric #code that acts as the address for a #blockchain #wallet, comparable to a #bank account number.
[#web3 glossary thread]
Pump and dump
When a #cryptocurrency or other asset is pumped up, causing many people to acquire it and drive up its price. Those who hyped the asset then sell their interests when the #price increases.
[#web3 glossary thread]
When a #cryptocurrency or other asset is pumped up, causing many people to acquire it and drive up its price. Those who hyped the asset then sell their interests when the #price increases.
[#web3 glossary thread]
Rug Pull
Rug pull is a scam in which a #crypto enterprise takes the cash entrusted in its system and runs away with it. Rug pulls may also happen in assets with a centralised ownership structure.
[#web3 glossary thread]
Rug pull is a scam in which a #crypto enterprise takes the cash entrusted in its system and runs away with it. Rug pulls may also happen in assets with a centralised ownership structure.
[#web3 glossary thread]
Rollup
Rollup is a scaling technique that tries to increase transaction throughput while lowering costs by batching several transactions off-chain and then sending them as a single #transaction to the main #chain.
[#web3 glossary thread]
Rollup is a scaling technique that tries to increase transaction throughput while lowering costs by batching several transactions off-chain and then sending them as a single #transaction to the main #chain.
[#web3 glossary thread]
Satoshi
#Satoshi is the lowest unit of #Bitcoin, equaling 0.00000001 bitcoin.
[#web3 glossary thread]
#Satoshi is the lowest unit of #Bitcoin, equaling 0.00000001 bitcoin.
[#web3 glossary thread]
Seed Phrase
Master password to access a #cryptocurrency wallet. Because a single wallet may hold numerous accounts, each with its own private #key, a seed phrase makes it simple to log in to all of them using the same #password.
[#web3 glossary thread]
Master password to access a #cryptocurrency wallet. Because a single wallet may hold numerous accounts, each with its own private #key, a seed phrase makes it simple to log in to all of them using the same #password.
[#web3 glossary thread]
SHA-256
The Secure Hashing Algorithm (#SHA) is a collection of #cryptographic hashing algorithms developed by the National Security Agency (NSA). SHA-256 takes an input of data and creates a #hash, which is a lengthy series of letters and numbers.
[#web3 glossary thread]
The Secure Hashing Algorithm (#SHA) is a collection of #cryptographic hashing algorithms developed by the National Security Agency (NSA). SHA-256 takes an input of data and creates a #hash, which is a lengthy series of letters and numbers.
[#web3 glossary thread]
Sharding
Technique for breaking down a network's nodes into smaller groups (shards) in order to improve scalability. These shards may then achieve a consensus on behalf of the whole network, eliminating the req. for each node to execute each transaction.
[#web3 glossary thread]
Technique for breaking down a network's nodes into smaller groups (shards) in order to improve scalability. These shards may then achieve a consensus on behalf of the whole network, eliminating the req. for each node to execute each transaction.
[#web3 glossary thread]
Shill
The practice of extensively advertising a #cryptocurrency, #stock, or other assets in order to boost acceptance and, as a result, raise its #price. This is mainly accomplished via social media spamming.
[#web3 glossary thread]
The practice of extensively advertising a #cryptocurrency, #stock, or other assets in order to boost acceptance and, as a result, raise its #price. This is mainly accomplished via social media spamming.
[#web3 glossary thread]
Shitcoin
#Shitcoin is a #cryptocurrency with questionable foundations and little to no practical use.
[#web3 glossary thread]
#Shitcoin is a #cryptocurrency with questionable foundations and little to no practical use.
[#web3 glossary thread]
Sidechain
A sidechain is a separate #blockchain that is used to unload transactions off the main chain in order to improve scalability or add new features.
[#web3 glossary thread]
A sidechain is a separate #blockchain that is used to unload transactions off the main chain in order to improve scalability or add new features.
[#web3 glossary thread]
Slippage
Between the moment an order is made and the time it is filled, the price of a #cryptocurrency may vary. The gap between a cryptocurrency's advertised price and the price at which a deal actually executes is referred to as #slippage.
[#web3 glossary thread]
Between the moment an order is made and the time it is filled, the price of a #cryptocurrency may vary. The gap between a cryptocurrency's advertised price and the price at which a deal actually executes is referred to as #slippage.
[#web3 glossary thread]
Smart Contract
Smart contracts are programs recorded on a #blockchain that execute when certain criteria get fulfilled. Applications include Dispute resolution, Supply chain, and Trade #finance.
[#web3 glossary thread]
Smart contracts are programs recorded on a #blockchain that execute when certain criteria get fulfilled. Applications include Dispute resolution, Supply chain, and Trade #finance.
[#web3 glossary thread]
Soft Fork
A soft fork is a #blockchain upgrade that is backward compatible. These modifications do not need the formation of a new chain, unlike a hard fork.
[#web3 glossary thread]
A soft fork is a #blockchain upgrade that is backward compatible. These modifications do not need the formation of a new chain, unlike a hard fork.
[#web3 glossary thread]
Solidity
#Ethereum's native programming language, #Solidity, is primarily used to create smart contracts.
[#web3 glossary thread]
#Ethereum's native programming language, #Solidity, is primarily used to create smart contracts.
[#web3 glossary thread]
Stablecoin
A #stablecoin is a token whose value is linked to the value of another asset. Stablecoins are normally backed by a #fiat #currency, such as the #US dollar, but they may also be backed by tangible assets such as precious metals.
[#web3 glossary thread]
A #stablecoin is a token whose value is linked to the value of another asset. Stablecoins are normally backed by a #fiat #currency, such as the #US dollar, but they may also be backed by tangible assets such as precious metals.
[#web3 glossary thread]
Testnet
The testnet is a #software environment that simulates the mainnet #blockchain and is used to test network updates and smart contracts before they are deployed to the mainnet.
[#web3 glossary thread]
The testnet is a #software environment that simulates the mainnet #blockchain and is used to test network updates and smart contracts before they are deployed to the mainnet.
[#web3 glossary thread]
TLD
The final component of a domain name, or the portion that comes after the "dot" sign, is known as the #TLD. (Ex: .nft, .eth, etc.)
[#web3 glossary thread]
The final component of a domain name, or the portion that comes after the "dot" sign, is known as the #TLD. (Ex: .nft, .eth, etc.)
[#web3 glossary thread]
Token
#Tokens are used to represent #digital and physical assets, as well as to interact with #decentralised applications (#Dapps).
[#web3 glossary thread]
#Tokens are used to represent #digital and physical assets, as well as to interact with #decentralised applications (#Dapps).
[#web3 glossary thread]
TPS
TPS stands for Transactions Per Second, which is the amount of transactions a #blockchain can process per second and is used to gauge its computing capability.
[#web3 glossary thread]
TPS stands for Transactions Per Second, which is the amount of transactions a #blockchain can process per second and is used to gauge its computing capability.
[#web3 glossary thread]
Total Value Locked
Total Value Locked (TVL) is a measurement of the #assets locked within a smart contract for a #dapp, commonly represented in #USD.
[#web3 glossary thread]
Total Value Locked (TVL) is a measurement of the #assets locked within a smart contract for a #dapp, commonly represented in #USD.
[#web3 glossary thread]
WAGMI
"We're All Gonna Make It," a popular phrase in #crypto trading circles that denotes #optimism. The acronym is widely used by the #crypto #community to build confidence, and encourage the community to not lose hope.
[#web3 glossary thread]
"We're All Gonna Make It," a popular phrase in #crypto trading circles that denotes #optimism. The acronym is widely used by the #crypto #community to build confidence, and encourage the community to not lose hope.
[#web3 glossary thread]
Wallet
The private keys of #blockchain assets and accounts are stored in a wallet, which can be a #software program or a #hardware device. A blockchain #wallet saves the private key that certifies a #digital asset's ownership.
[#web3 glossary thread]
The private keys of #blockchain assets and accounts are stored in a wallet, which can be a #software program or a #hardware device. A blockchain #wallet saves the private key that certifies a #digital asset's ownership.
[#web3 glossary thread]
Wallet Address
Wallet Address, also known as a public key, is an alphanumeric #code that acts as a #wallet's #address, comparable to a #bank account number.
[#web3 glossary thread]
Wallet Address, also known as a public key, is an alphanumeric #code that acts as a #wallet's #address, comparable to a #bank account number.
[#web3 glossary thread]
Web1
#Web1 is the earliest version of the #internet, sometimes known as the "read-only web." Web1 was defined by #information-based static webpages. User involvement and user-generated content were minimal.
[#web3 glossary thread]
#Web1 is the earliest version of the #internet, sometimes known as the "read-only web." Web1 was defined by #information-based static webpages. User involvement and user-generated content were minimal.
[#web3 glossary thread]
Web2
The "read-write web," which began in the 1990s, is distinguished by user-generated content and enhanced user interfaces. It facilitated interaction between web users and sites that also enable users to engage with one another.
[#web3 glossary thread]
The "read-write web," which began in the 1990s, is distinguished by user-generated content and enhanced user interfaces. It facilitated interaction between web users and sites that also enable users to engage with one another.
[#web3 glossary thread]
Web3
Next generation of internet, that'll make use of #blockchain, open-source #apps, and dcentralised #data and information. #Web3 aspires to take control of the web away from monopolistic #tech giants and give people back control of their #data.
[#web3 glossary thread]
Next generation of internet, that'll make use of #blockchain, open-source #apps, and dcentralised #data and information. #Web3 aspires to take control of the web away from monopolistic #tech giants and give people back control of their #data.
[#web3 glossary thread]
Wei
#Wei is the lowest #ether denomination, named after Wei Dai, a cypherpunk and #cryptocurrency pioneer.
1 ether = 10^18 gwei
[#web3 glossary thread]
#Wei is the lowest #ether denomination, named after Wei Dai, a cypherpunk and #cryptocurrency pioneer.
1 ether = 10^18 gwei
[#web3 glossary thread]
51% attack
When one entity or group gets control of more than 50% of a network's nodes or mining power. This enables the org to cause network disruption by blocking transactions, double-spending #crypto, & engaging in other malicious behaviour.
[#web3 glossary thread]
When one entity or group gets control of more than 50% of a network's nodes or mining power. This enables the org to cause network disruption by blocking transactions, double-spending #crypto, & engaging in other malicious behaviour.
[#web3 glossary thread]
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