With new technology comes trends & different ways of speaking.
Without understanding the language we can’t share ideas and
grow them into something more.
Learning about the used vocabulary in Web3 helps you to
really grasp ideas, concepts and thoughts.
Learn all of the latest and most important blockchain and
cryptocurrency terms here.
A 51% attack is occurring if one individual or one group controls more than half of the computing power or mining hash rate on a network.
When it comes to cryptocurrency transactions, an address is a string of alphanumeric characters representing a possible payment destination. Only someone who knows the address's corresponding Private Key can access the cryptocurrency transferred there.
This shows how quickly people are embracing new technology. To understand the willingness of the market, it could also include separating the target audience.
AI (Artificial Intelligence) is the ability of a machine to perform cognitive functions as humans do, such as perceiving, learning, reasoning and solving problems.
Startups utilize crypto airdrops as a marketing tactic to distribute tokens to active cryptocurrency traders or members of a community for nothing or in exchange for little tasks.
Air Gapping is a data security technique that prevents computers linking to the internet or any other unsecured external connection. This data, which bridges the “air gap”, is commonly transferred using USB flash drives, SD cards or QR codes.
These stablecoins use algorithms to adjust supply in order to keep prices stable. $DAI, $FRAX & $BAS are an example of this. Algorithmic stablecoins are maintained by smart contract solutions which only work on a public blockchain.
This is an automated trading system where buy and sell orders are issued in accordance with a computer program's or algorithm's rules.
Any cryptocurrency that is an alternative to Bitcoin.
The first impression of a team's product or the capacity of an investing plan to exceed the market is known as "Alpha" or "Finding Alpha".
Automated Market Makers are Decentralized Exchanges (DEX) where user's liquidity is pooled. Assets within the pool are priced using algorithms. The specific mechanincs vary by exchange. AMMs provide deep liquidity, low transaction fees & 100% reliability for as many users as possible.
When a cryptocurrency trader purchases a token soon after the token project's debut without doing much research, this is known as "Apeing" or "Apeing in".
The annual percentage rate (APR) is the amount of interest a borrower is required to pay each year (APR). The annual percentage rate (APR) is calculated by dividing the periodic interest rate by the number of periods in a year.
This is the rate of return on an investment over the period of a year. The APY includes compound interest, which is calculated frequently and added to the investment.
The asset may be money (bank deposits, gold, or other commodities), commodities (such as bank reserves), or cryptocurrencies. Stablecoins must be fully backed in order for people to have trust in them because they are not protected by deposit insurance and central banks do not serve as their lender of last resort. When determining if there is confidence in a stablecoin, it is important to think about the type of asset and the holder's legal rights, yet ultimately, simple faith or confidence also plays a big role in whether they are stable or not.
All-Time High, the highest value reached by an asset at any point in its history.
The direct transfer of cryptocurrencies between parties without the need of an exchange or other middleman.
Cryptoassets are often held as long-term investments; occasionally they are used in a self-deprecating manner to describe poor or losing positions that one should exit but can't for whatever reason. This is know as having a bag.
see Bag.
When investors or traders see a bearish trend, they expect a price to decrease and would recommend selling coins/tokens.
A market trend wherein the price of assets is decreasing.
The world's first Cryptocurrency. Invented by Satoshi Nakamoto. One Bitcoin or $BTC (also referred to as Corn) comprises 100,000,000 Satoshis (the smallest unit of value).
Block explorers are blockchain search tools that let you look for specific data on a specific blockchain. Users may get data about specific blocks, public addresses, transactions, average transaction fees, hashrates, block size, block difficulty and more.
A Blue Chip is a cryptocurrency or token that survived at least 2 bearmarkets with a long term uptrend. (breaking previous All Time Highs).
Automated trading set-ups on exchanges.
Common symbols for the Bitcoin cryptocurrency.
The term "BUILD" stands for the urge to actively build and contribute to the blockchain and cryptocurrency, as instead of simply holding it which is also known as "Hodl".
Bullish investors would feel safe purchasing coins or tokens at these prices because they anticipate the price would rise even more in the future.
A market trend wherein the price of assets is increasing.
By essentially removing some tokens from circulation, burning cryptocurrency lowers its overall supply and, in some situations, raises demand for that particular coin. these events are also known as buybacks.
A term used to describe a very rare or otherwise unexpected event.
A blockchain is a shared distributed database or ledger between computer network nodes. Blockchains function as digital databases that store data electronically.
Significant coins that are well-known among their peers and have made a name for themselves as industry innovators.
Buy The Dip, often known as buying coins or tokens when their price falls and they become affordable.
A recommendation to other traders to buy a coin that has likely reached its bottom is known as "Buy the f'king Dip" or "BTFD".
CBDCs/ Central Bank Digital Currencies are pegged to a country's fiat money. It's NOT a cryptocurrency.
First of all, it's centralized and has a unlimited supply which is susceptible to inflation. It doesn't come with a clear monetary policy and can have variable rules determinded by people. Also think of all the possible add-ons which will limit your freedom:
- An expiration date can be set
- Location-bound by distance radius / geographical exclusion
- Only buy what you MAY buy
- Max spending of a product or service (like public transport for example)
- Linked to C02 consumption/carbon footprint
- Bonded to Digital ID/Health pass with Vax/Test status
- No Privacy
- Frozen with the click of a button/ risk of seizure
In our opinion CBDCs are not desirable and they are the creation of the foundation of a social credit system.
Somebody that displays courage to make difficult, almost heroic decisions.
Centralised exchange.
This is a period of time that must pass before the release of the tokens from a cryptocurrency project's presale start. After the cliff period is over, the vesting period will start.
It may be used for offline transactions and to store your private keys securely. It is also known as hardware wallet or wallet. Since they're more difficult to access if you lose them, it's thought to be more secure than the majority of other types of wallets.
Selling cryptocurrency tokens or coins via crowdfunding is a common practice before a new blockchain-based business releases its token or coin on the market so investors may benefit from introductory discounts and incentives.
If you're on the web. Learn about it and spread the gospel. Cybersecurity is a very underrated topic.
Directed Acyclic Graph (DAG) technology provides a new and unique way of imbuing all the benefits of blockchain within a more succinct system. Like blockchain, users on a network can secure each other's information by referencing the previous unit transactions they created.
Decentralised autonomous organisation; A company or business that is run by smart contracts and governed by its token-holding community.
Decentralised application/app.
Transactions are performed using this method in a day. A cryptocurrency trader quickly buys and sells a coin. No transaction is kept overnight.
Dollar cost averageing.
This is an investment strategy where you buy a fixed amount every week or month or so instead of buying amount X at once. By doing so, you get more cryptos when their price is low and fewer when they are more expensive. DCA can lower the total average cost per coin of the sum of your investment because of the price volatility in the market.
A project that was launched with intentions of being used as a digital currency but failed. The reasons it failed can be numerous. Projects might be abandoned, used as scam, their website is down, has no nodes, has wallet issues, doesn't have social network updates, has developers that left the project.
Decentralised finance encourages the creation of alternative decentralized blockchain-based financial apps in order to make peer-to-peer transactions possible without the use of middlemen. DeFi apps include exchanges, prediction markets, lending platforms, and many more products developed on top of different protocols like Ethereum or Bitcoin.
Degenerate is shortened to degen. It is a word used in the crypto world to describe someone who has an extreme level of overconfidence in crypto projects and doesn't care about the consequences.
Imagine a world where scientific research is conducted openly, without the constraints of patents, copyrights, or government interference. With these new blockchain based platforms researchers can now collaborate, share data, and validate findings without fear of censorship or manipulation.
Developer.
Decentralised exchange.
Holding a volatile investment even when there's pressure to sell.
Decentralized Identitifiers or DIDs are a new type of identifier that allows individuals and organizations complete control over their digital identity. A central organization does not issue DIDs. DIDs are resistant to hacking since they are kept on a decentralized network, like a blockchain, and may be used to confirm a person's or an entity's identification without the need of a centralized authority.
The process of offloading large quantities of coins onto exchanges all at once which drives down prices because there is more supply than demand for that particular cryptocurrency.
Do your own research. This is often not practised but encourages individuals to think for themselves and conduct due diligence before investing in a cryptocurrency.
Ethereum Name Service (ENS) is a domain naming system built on the Ethereum blockchain. It takes the exact same concept as the Domain Name Service (DNS) but adjusts it for the needs of Ethereum users. It is an elegant solution to long and confusing crypto addresses. Something cumbersome like, “0xDB48EFF2G4B7D246980328C2ACA54699FZD2D695E” becomes as simple as “TakeItBack.eth.”
A new standard that combines the benefits of ERC-20 and NFT ERC-721 tokens.
Ethereum Virtual Machine; A Turing complete virtual machine that helps run smart contracts on Ethereum's blockchain by keeping track of their state and allowing them to be executed simultaneously across the entire network through consensus.
In crypto terms its a marketplace which allows buying and selling Bitcoin and other cryptocurrencies.
A legal tender declared by the government; this can be backed up by its economy and has an institution that regulates it (central bank). like the dollar, the euro etcetera.
The Flippening is a hypothetical event where Ethereum overtakes Bitcoin to become the most valuable cryptocurrency.
The lowest price at which a product can be sold.
Fear of missing out. This is similar to apeing. it means you chase a green candle on a chart or follow hype and shills from influencers and buy a cryptocoin without doing proper research.
A software upgrade that breaks compatibility with early versions of the same cryptocurrency protocol, starting from block 0.
Abbreviation for friend.
Fear, Uncertainty, Doubt. It is a strategy used to influence public opinion about certain cryptocurrencies or the cryptocurrency market in general by spreading false, misleading, or incomplete information.
A person who spreads FUD (fear, uncertainty and doubt).
Fungibility refers to the ability of an item or asset to be interchanged with other goods or assets of the same sort. Because fungibility implies that all assets are of identical worth, it makes the exchange and trading procedures simpler.
Gas is the fee required to successfully conduct a transaction or execute a contract on the Ethereum blockchain platform.
A undiscovered new crypto coin with great investment potential.
The first block in the Blockchain, usually hardcoded into the coin's protocol which is used to bootstrap its network.
GM simply means “Good Morning”. The crypto community says GM to each other because everyone is in a global community and it is nice to say good morning to each other as you start the day. The twitter community usually starts off their day with a GM tweet, and the followers will greet back with a GM reply.
Good night.
a specialised token primarily used for voting on changes to protocol or governance parameters.
Gwei here is a unit of Ether to measure the cost of what is called “gas”.
The method wherein Bitcoin mining incentives are halved by 50% every four years in order to increase scarcity and regulate the overall supply (since no more than 21 million Bitcoins can ever be mined).
A software upgrade that breaks compatibility with older iterations of the same cryptocurrency protocol, starting a brand-new branch from block 0.
It may be used for offline transactions and to store your private keys securely. It is also known as cold storage or wallet. Since they're more difficult to access if you lose them, it's thought to be more secure than the majority of other types of wallets.
Using two separate tactics to lower the risk that comes with using just one. For instance, you might hedge by simultaneously holding a long position and a short position; this would reduce your exposure compared to merely having a long or short position on that specific asset/trade alone.
A undiscovered cryptocoin or token with great investment potential.
This means you simply buy a cryptocurrency and you hold it instead of trading it or use it in a staking contract/liquidity pool for example.
This word is especially used when the feelings of the traders is based on pure speculation and not actual fundamentals.
Any cryptocurrency wallet that is online and thus more vulnerable to hacking is not advised for long-term storage, but rather as a means of sending and receiving money as needed.
Initial Coin Offering (ICO): The initial public sale and purchase of tokens or other digital assets for a brand-new blockchain startup.
I don't give a fuck.
Initial decentralized offering, comparable to an ICO but allowing individuals to interact with the project prior to launch.
Initial Exchange Offering: This is when a coin is sold for the first time via a digital currency exchange.
The capacity of various information systems, devices, and applications to access, share, integrate, and utilise data in a coordinated manner inside and beyond organizational, regional, and national borders.
Kek is an online term with similar meanings to LOL or haha.
Know Your Customer; this refers to the procedure of requesting and validating client personal identifying data for business needs prior to granting them access to services or goods.
KYC is a common item and that is why we mention it here, but it is something we stay as far away from as possible. In our experience there is no room for KYC within the crypto and Web3 world. The days of jumping through hoops are behind us, it's time to #TakeItBack !
Slang term used in reference to a Lamborghini is often.
Let's fucking go. when a cryptocoin's price is pumping, LFG is the howl of the crypto community.
Order will be executed at a predefined price, if the market reaches that price.
Liquid Staking allows you to earn rewards on your cryptocurrency without having to keep your money locked up for a long time like with ordinary staking. Holding your coins in a interoperable wallet allows you to receive rewards. Traditional staking lets you unstake (claim) before the period ends but forces you to pay a penalty. Also, it can take some time to receive your initial deposit back. A liquid stake can be converted back to the original deposit at any time & often without any fees. Liquid staking fives you more flexibility & provides additional revenue generating opportunities.
A cryptocurrency's total supply value is determined by multiplying its current price by the entire supply.
An order to buy or sell at the current price level, executed immediately.
Cryptocurrencies like Bitcoin, Ethereum are supported by an infrastructure that includes master nodes. Master nodes don't add fresh blocks of transactions to the blockchain like normal nodes do. Instead, they play unique responsibilities in running the blockchain by verifying new blocks.
A maxi (maximalist) is someone who believes that their crypto coin or project will dominate the market and usually solely has faith in that one coin.
A digital currency that doesn't have any inherent value and is used for social media purposes.
A person or group of individuals who, in return for payments, utilize their computational power to validate transactions on the blockchain network.
The act of solving difficult mathematical puzzles to produce new cryptocurrency units, which are then verified and uploaded to the blockchain network; miners often get paid in the form of the coins they mine as a reward for their labor.
Minting crypto is the process of generating new coins by authenticating data, creating new blocks, and recording the information onto the blockchain through a “proof of stake” protocol.
Minting is also known as the process to generate a new NFT.
Move-to-earn (M2E) dApps have emerged as an evolution of the popular play-to-earn (P2E) model in gaming, with users getting rewards for engaging in physical exercise rather than cash incentives for games.
A multisig wallet is a cryptocurrency wallet that needs two or more signatures to confirm and send a transaction (also known as a shared wallet). It may be used on several devices by a single user or by several private keyholders simultaneously.
Not financial advise.
Non fungible token; digital assets which are unique and can't be replaced.
NFT Whitelisting allows NFT projects to offer their communities the opportunity to mint an NFT, prior to its public sale. Due to the influx of NFT users, NFT projects have turned to this strategy to grant presale minting access to only pre-approved crypto addresses.
Not gonna make it.
An electronic device that is linked to a network, in this instance the Blockchain. Each node is the same and has the ability to broadcast messages throughout the whole network.
‘Non-fungible’ means that the token cannot be exchanged. What it represents is unique, unlike money or a bitcoin. Also known as NFT.
Someone who lives a normal standard life as a productive member of society. also known as no-coiners.
Nostr stands for "Notes and Other Stuff Transmitted by Relays".
Nostr is an easy-to-use protocol for sharing very little data (such as text posts.) It is robust since it doesn't rely on a reliable central server. Because it is based on cryptographic keys and signatures, it cannot be altered. It is reliable because it does not rely on data being passed around from person to person.
check out https://nostr.how/ to get started!
Ordinals are individual satoshis (sats) which are atm the smallest Bitcoin denomination (each BTC = 100m satoshis). The term Ordinal comes from it's creator Casey Rodarmor. His idea is that individual satoshis van be labeled and tracked across Bitcoin's supply. Casey released open-source software called ORD that runs on top of a Bitcoin Core full network node. The software allows users to encode computer files into hexadecimal data inside a Bitcoin transaction (inscription) and bind that posted data to an individual satoshi, effectively creating an NFT (Ordinal).
Over the counter trading is trading that takes place on platforms separate from regular exchanges. Simply put, if you want to avoid purchasing, trading or selling cryptocurrency through mainstream, heavily regulated exchanges, you can opt for OTC trading. OTC trading offers anonymity, increased transaction limits and protection from market fluctuations.
Play to earn.
Peer to peer; a system that enables two people to carry out financial transactions without the involvement of a third party, such as a bank. The Blockchain serves as an illustration of this since it directly connects nodes in its network and permits free data/transaction sharing between them.
Also known as "Pump". it is the purchasing of large quantities of coins to push the demand and price of respective coin up.
An investor who sells at the first sign of trouble.
A PFP (NFT ) is a digital token or artwork designed to be displayed as a person's social media profile picture.
Proof of authority; a consensus mechanism where validators must prove they have a specific quantity or kind of stake before being admitted to network nodes to validate transactions.
Proof Of Attendance Protocol. POAPs are granted to participants in events, courses, activities. It's like a badge of honor or recognition for being present or participating.
Proof of burn; A type of consensus algorithm that requires users to "burn" or exchange some tokens by sending them to an unspendable address, thus proving they are real and active participants in the network.
Proof of stake; a consensus algorithm/type of validation that safeguards members 'nodes' ability to vote on transaction validation by requiring them to demonstrate ownership of more than a specific quantity of cryptocurrency.
Proof of work; the consensus algorithm used to validate transactions on the blockchain, which requires users to solve complex computational puzzles to add new blocks onto the chain.
An cryptographic key that users may use to move cryptocurrency out of their wallets but not to receive funds. You may use them to create digital signatures or decrypt your wallet since they are distinctive and typically include 64 characters.
If a noteworthy event takes place, it is "probably nothing." It serves as proof of how skilled the crypto community is at maintaining cool and is extensively applied in ironic context.
A cryptographic key that can only be used to receive cryptocurrency from other users and cannot be used to transmit funds. They are unique and typically have 64 characters to create digital signatures or to secure your wallet.
The process of buying and selling a coin on the market to raise its price and attract other users, followed by profit-taking.
A specific class of cryptocurrency known as rebase tokens adjusts its supply in order to keep price stability. This differs from traditional cryptocurrencies, which have been created with a set supply that was predetermined. By undergoing a "rebase," which occurs on a regular basis, rebase tokens are able to maintain their price stability (e.g., every 24 hours). The supply of the token is changed during a rebase according to a specified formula.
A warning or signal that suggests there is a potential problem or risk related to a cryptocurrency project. A Red Flag can be anything, for example:
- Projects that promise unrealistically high returns or guaranteed profits;
- Poorly defined Roadmap;
- Lack of Transparency;
- Complaining community on Social Media;
- Overuse of catchy words and hype/sensation;
- Short track record;
- Centralized power structure;
- Empty promises etcetera.
This is a misspelling for the word "wrecked". A cryptocurrency trader who has been completely wrecked and shattered by losses from a recent price fall is said to be "being rekt."
Return on investment; The percentage of investment returns over an initial investment.
In the world of cryptocurrencies, this is a shady practice where developers run off with investors' money after abandoning a project.
RWA's represent the tokenization of real world assets on the blockchain. Think about Luxury Goods, Fine Art, Real Estate, Commodities, Treasury Bills and more tokenized for digital (fractional) ownership and trading. It's democratizing access and transparent, it supports financial inclusion and diversification.
This is another word for being scammed.
Real world assets are tangible assets that exist in the physical world that are brought onto the blockchain. They also include the growing issuance of capital market products on-chain, where digital financial products are tokenized and offered to retail customers.
A Satoshi is the smallest unit of measure for the price of bitcoin. A single satoshi, or “Sat”, is equal to 100 millionths of a bitcoin. A bitcoin (BTC) can be divided all the way down to 8 decimal places or 0.00000001 BTC. 100 million sats are equivalent to 1 bitcoin.
SBTs or Soul Bound Tokens represent your real untransferable ID on-chain. SBTs can include medical records, work/education history or any type of info that makes up a person/entity.
Although we expect growth in this segment we are holding back. The reason is that reputation-based communities could devolve into a Social Credit System in which people with higher ratings receive greater privileges while others are barred. This raises ethical concerns and denies people the opportunity to grow.
The capability of a system, network, or process to handle an increasing quantity of work, such as the volume of transactions on a blockchain network without compromising the system's initial performance or speed standards.
Here, cryptocurrency traders seek to benefit on minute-by-minute movements, frequently taking advantage of order-book imbalances to generate a ton of little gains. For scalping to work, traders often study charts that are 5 minutes or less in length.
This is a list of words used to generate deterministic keys for wallets; it can be thought of like a private password or pin number for your crypto funds.
The division of a blockchain network into smaller, so-called "shards," each of which is in charge of processing transactions in independently. This is meant to release some of the burden placed on other parts, like as the CPU or GPU, so that more computing power may be devoted to resolving cryptographic dilemmas and reaching consensus.
Promoting any cryptocurrency through latent advertising.
All those useless cryptocurrencies that exist.
A separate but interoperable blockchain that runs in parallel to the main chain and which enables assets to be transferred between them.
A piece of code that is executed on the blockchain after certain conditions have been met; this allows developers to create decentralised applications without having to build the blockchain from scratch.
A cryptocurrency designed to minimise price volatility, usually by pegging its value or supply against a physical asset such as fiat currencies like the US dollar or metals like silver and gold.
Purchasing small amounts of Bitcoin over a long period. a Bitcoin consists of “Sats” which is short for Satoshis, the smallest unit of Bitcoin (BTC). One Satoshi (sat) is equal to 0.00000001 BTC (one hundred millionth of a Bitcoin).
By staking coins, you essentially lock them away in a digital wallet for the sake of network maintenance. When your wallet is staking, you are rewarded with extra coins or tokens, but you are also prevented from trading those coins while they are locked up.
Order that is triggered when the price goes below this point. Used to cut losses.
This strategy is used by crypto traders when an asset is most volatile. This method looks for a short-term trend's turning point using technical trading signals. If a cryptocurrency trader learns to interpret the technical indicators, swing trading may prove to be quite successful in a short amount of time.
A measure of value that may be utilized in a crypto ecosystem for many different things. Any item, including commodities like gold or rice, reward points, property, or even other cryptocurrencies, can be represented by a token.
Token economics; The study of how different variables within an economy impact each other and affect the decision making process.
The amount limit of coins that will ever exist. Supply limit of Bitcoin for example is 21 million.
A term used to describe a system that doesn't require trust in any party because it uses encryption and consensus mechanisms for security.
Total value locked (TVL) is one of the important metrics that can be used to determine the worth of a smart contract protocol. The quantity of cryptocurrency funds tied by these projects is measured by TVL. As a result, TVL is the main sign of public interest in a specific protocol, often known as decentralized application (dApp).
A method of confirming a user's claimed identity in which two separate components are required. Also known as 2FA.
A virtual reality (VR) environment is a 3D simulation that enables users to interact and explore a virtual world in a way that simulates reality as experienced by the user's senses. Although the environment is built using computer hardware and software, users may also need to put on accessories like helmets or goggles in order to interact with it.
We all/are gonna make it.
Abbreviation of When.
A question about when the value of a certain coin will increase "to the moon".
People or entities that hold (or hodl) the largest amount of crypto.
A proof that provides evidence of the truthfulness of a statement without revealing any additional information beyond what is already known.
We came across this video by @MJtheFellowActuary that explains it really well:
A type of zero-knowledge proof cryptography.
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