Glossary

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0x

1. Ethereum addresses begin with the "0x" prefix in order to specify that the characters should be interpreted as a hexadecimal number by smart contracts and other programs.

2. A decentralized exchange protocol. https://www.0xprotocol.org/

See also: #ZRX

51% Attack

A takeover of more than 50% of the nodes or mining power of a network by a single individual, organization, or entity. Any person or group controlling the majority of the network can exclude valid transactions, include fraudulent transactions, and otherwise manipulate the blockchain history for their own gain.

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A

Address

In the context of Cryptocurrency, an address is an alphanumeric string of characters representing the public half of a public/private key pair belonging to a specific user. Much like an email address, this identifier can be shared publicly, embedded in links, and presented as a QR code to other users in order to accept funds or assets on the respective blockchain.

A single user may have multiple addresses and their corresponding private keys across multiple blockchains and wallets. Cryptocurrency wallets in the form of software, browser extensions, apps, or hardware devices allow for the management of and access to addresses under a user’s control.

Services like the Ethereum Name Service (ENS) map human-friendly domain names to Ethereum addresses for a fee, allowing them to be more easily shared and remembered.

See also: #ENS, #Public Address, #Public Key, #Wallet Address

Air Gap

A security measure implemented to isolate a device or system physically, not connecting to other devices or the internet, adding another layer of protection between the sensitive data stored therein and potential hackers or malware.

See also: #Cold Wallet, #Hardware Wallet

Airdrop

A distribution method employed by projects or creators to send coins, tokens, or NFTs directly to users’s wallets. This distribution is often a reward for performing certain actions or meeting certain criteria, like completing simple tasks on social media, participating in community discussions or activities, or holding specific digital items during a certain timeframe.

Allowlist

A pre-approved list of accounts, users, or wallets, usually compiled in preparation for the release of an anticipated project. Limiting participation to a select few might be done to reward early adopters, or as an attempt to avoid bottlenecks created by an overwhelming influx of users trying to complete blockchain transactions simultaneously, which can cause technical issues and drive up transaction costs significantly, resulting in a negative experience for many.

Alpha

Slang

Most likely adopted from the practice of designating the initial phase of software testing "Alpha Testing," where the product is only available to internal users. In the context of web3, alpha refers to information regarding crypto products or projects that has not yet been divulged publicly. Informally, it can refer to any matter where there might be information not yet widely known: "What’s the alpha on your new neighbor?"

Alt

Abbreviation - Short for #Altcoin, or in the context of social media, alias account profiles.

See also: #Sock Puppet

Altcoin

Originally used in reference to any cryptocurrency other than Bitcoin, this shortened version of “alternative coins” is often now more subjectively used. Many agree that Ethereum has graduated from this category with its widespread use and significant market cap.

See also: #Fork, #Shitcoin

AML

Acronym - Anti-Money Laundering

Rules, regulations, laws, and practices established and enforced by financial regulatory agencies around the globe to prevent money laundering by criminals. Compliance includes verifying the identity of customers and collecting relevant information from them, as well as monitoring transaction patterns in order to identify and report suspicious activities. AML regulations may vary by country or jurisdiction.

See also: #BitLicense, #KYC

AMM

Acronym - Automated Market Maker

A platform, project, or exchange that eliminates the need for a traditional broker to set the price of an exchange between buyers and sellers by automating the process. This is accomplished by utilizing algorithmic pricing, liquidity pools, and smart contracts.

Decentralized tools that perform tasks related to AMM democratize markets by significantly increasing accessibility to trading cryptocurrencies, tokens, and NFTs. However, issues like insufficient liquidity and deceptive behavior by bad actors can, and often do, result in the loss of funds by participants.

See also: #DEX, #Liquidity, #Slippage

Anchor

Framework for the development of programs or smart contracts on the Solana network.

See also: #Smart Contract, #Solana

Ape

Slang

Popularized by the meteoric rise of the BAYC (Bored Ape Yacht Club) NFT project when it launched, “to ape in” describes the act of rushing to purchase a coin or NFT project without taking time to adequately research or investigate.

Since blockchain assets are often very volatile, many traders of web3 digital assets realize that some purchases are more of a gamble than an investment and do not assign much of a negative connotation to this term.

See also: #NFA, #DYOR, #NFT

API

Acronym - Application Programming Interface

A set of predefined programming standards and protocols that specify how applications communicate with another program. APIs encourage standardization across platforms, blockchains, and tools for a variety of online ecosystems, as well as automation that can provide real-time information to users in friendly formats.

AppChain

Abbreviation - Short for Application-Specific Blockchain.

A secondary or tertiary blockchain built to facilitate the scalability, modularity, and interoperability of a specific application or applications by providing an optimized and tailored environment. This environment is often built atop a primary network in order to take advantage of its security or consensus mechanisms.

See also: #Blockchain Trilemma, #Layer 1, #Layer 2, #Modular Blockchain, #Sidechain

AR

Acronym - Augmented Reality

Arbitrum

An Ethereum layer 2 blockchain network built as a scaling solution to alleviate congestion and reduce transaction fees.

See also: #Ethereum, #Layer 2, #Transaction Fee

Archival Node

A node that stores a complete historical record of a blockchain's data, including all previous states and transactions, but does not necessarily validate blocks.

See also: #Blockchain, #Genesis Block, #Node

ASIC

Acronym - Application-Specific Integrated Circuit

Specialized hardware optimized for performing the calculations required to mine cryptocurrencies utilizing Proof of Work algorithms.

The use of ASICs is sometimes considered controversial, both in and out of web3, due to their high energy use and potential for centralization when concentrated in mining farms.

ATH

Acronym - All Time High

ATL

Acronym - All Time Low

Atomic Transaction

A series of operations, usually carried out by a #Smart Contract, where all operations are treated as a single, indivisible element and can only execute successfully if all operations within the transaction are completed. If any operation within the transaction does not succeed, the entire transaction fails.

See also: #Transaction

Avalanche

An open-source platform including several blockchains built for fast transaction finality and high throughput. Networked blockchains are known as subnets and can define their own token economics, security, and execution logic.

AVAX is the native token of Avalanche.

https://docs.avax.network/

See also: #Subnet

AVAX

Ticker Symbol - The native token of Avalanche.

See also: #Avalanche

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B

Bag

Slang

Refers to the digital assets one may be holding, often those one is willing to sell as soon as it is profitable to do so.

See also: #Holding A Bag/Holding Bags

Base Fee

An algorithmically determined dynamic transaction fee, typically referring to Ethereum. This fee is determined by the network itself to prevent sudden spikes and is adjusted based on network activity and congestion. Transaction fees are collected by miners as an incentive to validate and include transactions in each block, as well as secure the network.

See also: #Ethereum, #Gas, #Gas Estimator, #Gas Fees

Bear Market

A general and sustained downward trend of cryptocurrency and NFT prices, as well as market sentiment.

See also: #Bearish, #Bull Market

Bearish

Slang

Indicates a lack of conviction regarding a market, industry, project, or even individual item. A pessimistic outlook.

See also: #Bear Market, #Bullish

Bid

An offer made by a potential buyer during an auction. The programmable nature of cryptocurrencies and NFTs allows for automation of this process if the proper #APIs or other tools are available on the auction platform.

BIP

Acronym - Bitcoin Improvement Proposal

A standard format for proposing, discussing, and implementing changes to Bitcoin protocols and standards.

https://github.com/bitcoin/bips/

See also: #Bitcoin

Bitcoin

An open-sourced, cryptographically secured, decentralized, peer-to-peer digital currency released in 2009 by a pseudonymous entity known only as Satoshi Nakamoto. The blockchain and network is always capitalized (“Bitcoin”), while the cryptocurrency is not (“bitcoin”). Bitcoins may be subdivided to eight decimal places, with the smallest unit known as a satoshi. 1 BTC = 100,000,000 satoshis.

The Bitcoin network is secured and transactions are validated through a Proof of Work system by miners around the globe, and as such, is not controlled by any individual, government, or organization. Miners are incentivized with rewards in the form of newly created bitcoins and transaction fees submitted by users.

The Bitcoin whitepaper: https://bitcoin.org/bitcoin.pdf

More info can be found at https://en.bitcoin.it/wiki/Bitcoin

BitLicense

Virtual currency regulation 23 NYCRR Part 200 issued by the New York Department of Financial Services in 2015. Any person or business conducting activities involving virtual currencies in the state of New York or involving a resident of New York can either apply for a BitLicense or for a charter.

https://www.dfs.ny.gov/virtual_currency_businesses

Block

A record of transactions added to a blockchain, along with information pertaining to the previous block. The “chain” of data results in a distributed ledger synced and validated by nodes tasked with securing and supporting the network.

See also: #Blockchain, #Blockchain Explorer, #Block Reward, #Mining

Block Explorer

A website, application, or tool that provides an interface to navigate and explore blockchain address and account information. This information may include, but is not limited to transaction history, transaction status, transaction value, timestamps, fees, sender and recipient addresses, block height, miner rewards, smart contract source code and historical data, network statistics, and block confirmation times.

Block explorers are available for a variety of blockchains. Features and functionality will vary.

See also: #Block, #Blockchain

Block Height

The number of confirmed blocks preceding a particular block in a blockchain. Block height indicates how many blocks have been added to the blockchain since its genesis block, or block 0. Block height increases sequentially with each new block added and confirmed and is utilized by consensus mechanisms to confirm the valid and accepted version of the chain.

See also: #Block, #Blockchain

Block Reward

The incentive earned by miners or validators of a blockchain, usually in the form of newly minted cryptocurrency, transaction fees accumulated by the network, or both. Block rewards vary from blockchain to blockchain.

See also: #Blockchain, #Mining

Blockchain

A distributed ledger or database of information related to accounts and transactions of a particular cryptocurrency.

See also: #Block, #Block Explorer, #Private Blockchain

Blockchain Explorer

See #Block Explorer

Blockchain Trilemma

Coined by Vitalik Buterin, the blockchain trilemma refers to the challenge of simultaneously attempting to optimize a blockchain for decentralization, security, and scalability.

See also: #Blockchain

Blue Chip

A term commonly used to indicate a project or collection likely to retain a high value for the foreseeable future. Originally used in this manner for financially successful stocks, the phrase refers to blue poker chips, which typically have the greatest value.

See also: #NFT

BNB Chain

Originally named the Binance Smart Chain, BNB Chain was launched by Binance in 2020 as a blockchain network parallel to the Binance Chain. It utilizes the Binance Coin (BNB) as its native token for transaction fees, staking, and other functions. The chain was designed as a layer 1 solution with smart contracts and decentralized applications in mind.

See also: #Blockchain

Bored Ape Yacht Club

See BAYC.

Sometimes shortened to simply "Bored Apes."

Brain Wallet

The practice of memorizing the mnemonic sequence of 12 to 24 words used to derive cryptocurrency private keys as a form of “cold” storage. If this seed phrase is not recorded elsewhere, cryptocurrency stored in this manner are lost forever if the owner dies, becomes permanently incapacitated, or simply forgets the phrase.

See also: #Cold Wallet, #Non-Custodial Wallet, #Wallet

Bridge

A protocol built to allow separate blockchains to communicate. By creating a connection in this manner, the ability to transfer data or digital assets from one chain to another becomes a possibility.

Sometimes used as a verb: to "bridge" a digital asset from one chain to another.

See also: #Blockchain

BTC

Ticker Symbol - Bitcoin

The native cryptocurrency of the Bitcoin network.

See also: #Bitcoin, #Exchange

Bug Bounty

A program offered to encourage individuals to report bugs in exchange for rewards or compensation.

Buidl

Slang

An intentional misspelling of the word "build" referencing the more infamous "hodl." In web3, it is often used to encourage community involvement and active development of the decentralization ecosystem.

Bull Market

A general and sustained upward trend of cryptocurrency and NFT prices, as well as market sentiment.

Bullish

Slang

Indicates a high level of conviction regarding a market, industry, project, or even individual item. An optimistic outlook.

See also: #Bearish, #Bull Market

Burn

The process of permanently removing tokens or coins from circulation by sending them to an inaccessible destination address.

See also: #Blockchain

Byzantine Fault Tolerance

The abilitity of a system to continue to operate as intended even if parts of the network are faulty or cannot be trusted.

See also: #Byzantine Generals Problem

Byzantine Generals Problem

A game theory scenario where consensus must be achieved in a decentralized system without the benefit of a trusted, centralized source.

See also: #Byzantine Fault Tolerance

Byzantium Fork

The planned upgrade to Ethereum that occurred in October 2017. This was a hard fork on the roadmap to transition from Proof of Work to Proof of Stake and the fifth major upgrade in Ethereum's history.

See also: #Ethereum, #Hard Fork

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C

Cancel Transaction

A transaction submitted with the same nonce as a pending transaction but with a greater transaction fee attached, incentivizing miners to process it first, at which point the original transaction becomes invalidated and is dropped.

See also: #Replacement Transaction, #Stuck Transactions

CC0

Acronym - Creative Commons 0

A Creative Commons license to waive copyright or database protections to place works as completely as possible in the public domain.

https://creativecommons.org/share-your-work/public-domain/cc0/

CeFi

Abbreviation - Centralized Finance

See also: #DeFi

Censorship

The act of restricting, suppressing, or manipulating content, often by an authoritarian power.

Censorship Resistant

The fundamental property of public blockchains that functionally eliminates the ability to reverse transactions or to prohibit specific addresses from participating.

Centralized

The concentration of power or decision-making abilities for a system under a small group or within a particular geographical location.

See also: #Centralized Exchange

Centralized Exchange

An exchange managed by a business, organization, or other entity with limited to no input from the wider ecosystem.

See also: #Centralized, #Decentralized Exchange

CEX

Acronym - #Centralized Exchange

Client

Software that acts as an interface between users and a blockchain network and usually includes a cryptocurrency wallet. Clients may also host nodes to help support the relevant network.

See also: #Node

Closed Graph

A data structure or API requiring permissions or authentication for access, typically controlled by a single organization or entity.

See also: #Open Graph

Coin

A fungible token used as a store of value and medium of exchange within a particular blockchain ecosystem. Some may have specific utility, such as paying for transaction fees or participating in governance processes, and some are designed to maintain a stable value, but all of them may succumb to trading volatility or other instabilities. For these, and many other, reasons, anyone wishing to trade or invest is advised to do so only after sufficient research and understanding of the associated risks.

Sometimes used synonymously with "token."

See also: #Cryptocurrency, #Token, #Tokenomics, #Due Diligence, #DYOR, #NFA

Cold Wallet

A cryptocurrency wallet not connected to the internet. These may be hardware devices or any media that can record private keys or seed phrases, like simple pen and paper. Cold wallets are typically used for long-term storage since extra steps are required to broadcast transactions to the network. Physical devices acting as cold wallets are still susceptible to theft, damage, or other types of loss.

See also: #Brain Wallet, #Hardware Wallet, #Wallet, #Wallet Address

Collateral

An asset provided as security for a loan in order to mitigate risk for the lender.

Confirmed Transaction

A transaction that has been validated and permanently added to a blockchain by network participants. Each confirmation increases the difficulty of reversing or changing the transaction details by attempting to submit an alternate block of transactions instead of the original.

See also: #Pending Transaction, #Transaction, #Transaction Fee, #Transaction Hash, #Transaction Pool

Consensus

The state of agreement by network participants on the validity and version of the synchronized blockchain. Consensus is arguably the most fundamental aspect of blockchain technology, ensuring the integrity and validity of transaction records. (Not to be confused with "Consensys," the software company responsible for MetaMask and Infura.)

See also: #Consensus Mechanism, #Node

Consensus Mechanism

The process by which network participants come to an agreement on the validity and integrity of all the transactions contained within a blockchain. #Proof of Work (PoW) and #Proof of Stake (PoS) are two well-known methods of achieving consensus.

See also: #Consensus, #Node

Consensys

Software company responsible for MetaMask and Infura.

https://en.wikipedia.org/wiki/ConsenSys

Constantinople Fork

The hard fork system upgrade of Ethereum which took place in 2019.

See also: #Ethereum, #Hard Fork

Contract

See #Smart Contract.

Cross-Chain

The interoperability or communication between otherwise isolated or independent blockchains. Protocols, applications, or smart contracts that facilitate the transfer of assets or data between chains are known as “bridges.”

See also: #Bridge

Crypto

Greek prefix meaning “hidden.” The word “cryptocurrency” is derived from “cryptographic currency” since cryptocurrencies utilize cryptography to secure transactions. However, cryptographers often use this abbreviation to refer to their own field of study.

https://en.wikipedia.org/wiki/Crypto_naming_controversy

See also: #Cryptocurrency, #Cryptography

Cryptocurrency

A digital or virtual currency that uses cryptographic techniques to secure transactions, control the creation of new units, and verify the transfer of assets. Cryptocurrencies are typically decentralized and operate on blockchain technology, utilizing a distributed and public ledger. Cryptocurrencies are created and secured through cryptographic algorithms that are maintained and confirmed in a process called mining, where a network of devices process and validate the transactions. This decentralized structure allows them to exist outside the control of governments and other central authorities.

See also: #Coin, #Token

Cryptographic Signature

A method of authenticating content, typically based on public-key cryptography, where a signer uses the private half of a key pair to generate a signature, and the recipient uses the corresponding public key to verify its authenticity.

See also: #Cryptography

Cryptography

The practice and study of techniques used to secure communication by encoding information so that it can only be deciphered by authorized recipients.

See also: #Crypto

Custodial Wallet

A cryptocurrency wallet in which a third party, such as a cryptocurrency exchange, holds the private keys that authorize and sign transactions. Custodial wallets shift the burden of responsibility and security to the third party, lowering the barrier to entry for many new cryptocurrency users. A certain amount of trust is required, however, since users are reliant on the custodian to take proper security precautions and implement reasonable policies regarding their assets and funds.

See also: #Non-Custodial Wallet, #Wallet

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D

Dai

Ticker Symbol - DAI

A stablecoin on Ethereum pegged to the US dollar maintained and regulated by MakerDAO.

Formerly Sai or SAI

https://makerdao.com/

See also: #Stablecoin

DAO

Acronym - Decentralized Autonomous Organization

An entity where governance is typically facilitated through smart contracts and tokens that represent a membership or voting rights. DAOs typically have specific objectives or missions, and proposals, disbursements, or purchases involving treasury funds are voted on by members.

See also: #Decentralized

Dapp

Abbreviation - Decentralized Application

A software application that runs on a blockchain network, incorporating smart contracts to provide transparent and trustless functionality across a wide range of use cases.

See also: #Decentralized, #AppChain

Data Availability

The concept of making all necessary transaction data accessible and verifiable within a blockchain network.

Decentralized

Descriptor referring to a state where decision-making authority is distributed among multiple entities or individuals.

Decentralized Exchange

A cryptocurrency exchange operating without the need for a centralized intermediary, typically utilizing smart contracts to interact with a blockchain network. Limitations compared to centralized exchanges often include lower liquidity, fewer trading features, and limited recovery options in the case of a loss of funds or assets due to error, malicious behavior from bad actors, or code vulnerabilities.

See also: #DeFi, #DEX

DeFi

Abbreviation - Decentralized Finance

Main Article: DeFi

See also: #Decentralized, #DEX, #Degen

Degen

Slang

Short for “degenerate gambler.”

Anyone who enjoys buying, selling, or trading coins or NFTs for profit. Almost always used without negative connotation, despite its origin.

See also: #DeFi

DePIN

Acronym - Decentralized Physical Infrastructure Network

A decentralized protocol utilizing blockchain technology to operate, maintain, coordinate, and develop physical infrastructure.

See also: #Decentralized, #AppChain

DEX

Acronym - #Decentralized Exchange

Diamond Hands

Slang

The unwillingness to sell a coin or asset despite market turbulence, especially over a significant amount of time.

Sometimes indicated with emojis: 💎🙌

See also: #Degen, #Paper Hands

Difficulty

The concept of measuring the level of computing power needed to add a block of verified transactions to a blockchain utilizing #Proof of Work mining.

See also: #Block, #Blockchain, #Blockchain Trilemma, #Proof of Work

Difficulty Bomb

The incentive introduced into the Ethereum network which encouraged migration from a #Proof of Work consensus mechanism to #Proof of Stake. Block verification became prohibitively expensive and difficult, facilitating the transition to PoS in order to improve the scalability and energy efficiency of the network.

See also: #Difficulty

Digital Identity

The representation of a person or entity online. Formed by associated data, actions and interactions performed, as well as information about them shared by others. Offline information such as a physical address may also be included if it can be associated with an online presence. Users may assume multiple identities or personas for various purposes and scenarios.

Digital Signature

See #Cryptographic Signature

See also: #Cryptography

Discord

A social platform used for community management. Communities are delegated to “servers” and may be public or private. Servers are often organized into topic-based channels with access to communication tools like voice, video, and text chat, as well as direct messaging, the ability to upload and share media, and the connection of various external social media profiles.

https://discord.com/

Distributed Ledger

A database of transactions replicated and maintained by multiple participants in a decentralized manner, eliminating any single point of control or failure.

See also: #Blockchain

Double Spend

A blockchain fork created when a user sends the same blockchain assets to two different entities. These forks are prevented by consensus mechanisms put in place to verify and record transactions in order to maintain the integrity of the blockchain. In theory, if a malicious entity were to gain control of more than 50% of network miners or validators, transactions that would otherwise be considered invalid could be pushed through.

See also: #51% Attack, #Fork

Dropped Transaction

A transaction removed from a confirmation queue, and therefore not included in the relevant blockchain. Possible causes include an incorrect nonce, insufficient transaction fee, or other errors in the transaction data.

See also: #Confirmed Transaction, #Failed Transaction, #Nonce, #Pending Transaction, #Stuck Transactions, #Transaction, #Transaction Fee, #Transaction Hash

Due Diligence

The process of gathering and verifying information, assessing risks and opportunities, and confirming details or claims about a matter under consideration, often associated with a financial transaction.

Sometimes shortened to simply "DD."

See also: #DYOR, #NFA, #Rug/Rug Pull

DYOR

Acronym - Do Your Own Research

See also: #Due Diligence, #NFA, #Rug/Rug Pull

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E

EIP

Acronym - Ethereum Improvement Proposal

A standard format for proposing, discussing, and implementing changes to Ethereum protocols and standards.

https://eips.ethereum.org/

See also: #Ethereum

EIP-1559

Ethereum Improvement Proposal 1559

An upgrade implemented as part of Ethereum’s London Fork in August 2021. The upgrade introduced a system of block-based fees and sender-specified max fees, replacing the existing gas limit.

See also: #EIP, #Ethereum, #London Fork

ENS

Acronym - Ethereum Name Service

A decentralized domain name system for Ethereum which enables users to register and manage human-readable domain names representing longer and more complex Ethereum hexadecimal addresses.

https://ens.domains/

See also: #Address, #Ethereum, #Public Address

EOA Transaction

Transactions between Externally Owned Accounts on the Ethereum network. Not to be confused with Internal Transactions, which involve smart contracts.

See also: #Ethereum, #Internal Transaction

Epoch

A standardized unit of time in regard to a blockchain network, used as a frame of reference for miners and validators to have a synchronized understanding of when certain events occur.

See also: #Block, #Blockchain

ERC

Acronym - Ethereum Request for Comments

An application-level standard for Ethereum. These standards address different aspects of the Ethereum ecosystem, but often focus on how tokens are created, transferred, and interacted with on the blockchain.

See also: #Ethereum, #ERC-1155, #ERC-20, #ERC-721

ERC-1155

A multi-token Ethereum standard allowing the creation and management of fungible, semi-fungible, and non-fungible tokens by a single smart contract.

See also: #Ethereum, #ERC-20, #ERC-721

ERC-20

An Ethereum token standard defining the rules and functions specifically for fungible tokens, ERC-20 tokens may be used as cryptocurrency, utility tokens, governance tokens, and other digital assets,

See also: #Ethereum, #ERC-1155, #ERC-721

ERC-721

An Ethereum token standard defining the rules and functions specifically for non-fungible tokens, ERC-721 tokens may be used as collectibles, digital art, virtual real estate, in-game items, or other unique digital assets.

See also: #Ethereum, #ERC-1155, #ERC-20

Escrow

A neutral or trusted third-party intermediary used to mitigate risk by holding funds or assets until certain conditions are met.

See also: #Escrow Contract

Escrow Contract

Self-executing blockchain operations that automatically and autonomously enforce transaction terms between parties, eliminating the need for a trusted third-party intermediary.

See also: #Escrow, #Smart Contract

ETH

Ticker Symbol - Ether

The native crypocurrency of Ethereum.

See also: #Ethereum

Ethereum

A decentralized layer 1 blockchain platform proposed by Vitalik Buterin in 2013 and launched in 2018.

Main Article: Ethereum

Etherscan

A popular block explorer and analytics tool for the Ethereum blockchain which provides a comprehensive view of the network, and allows users to search and explore addresses, transactions, and other activity.

https://etherscan.io/

See also: #Block Explorer, #Ethereum, #Gas, #Transaction, #Transaction Hash

EVM

Acronym - Ethereum Virtual Machine

A Turing complete computation engine and runtime environment powering the Ethereum blockchain.

See also: #Ethereum, #Node, #Smart Contract

Exchange

An intermediary platform used to trade cryptocurrencies for conventional fiat (government-issued currency) or other digital assets.

See also: #CeFi, #DeFi

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F

Failed Transaction

A blockchain transaction that fails to execute and is not validated or confirmed. This can happen for a variety of reasons, including, but not limited to, insufficient gas, invalid data, or errors in smart contract code. Failed transactions can still consume gas fees even if they make no changes to the blockchain.

See also: #Confirmed Transaction, #Dropped Transaction, #Internal Transaction, #Pending Transaction, #Stuck Transactions, #Transaction, #Transaction Fee

Fantom

A layer 1 blockchain launched in 2018 that utilizes Proof of Stake. It is intended to be an Ethereum alternative, and a scalable platform for enterprise applications and dapps.

See also: #Blockchain, #Dapp, #Ethereum, #FTM, #Layer 1

Faucet

An application, website, or tool that dispenses cryptocurrency or tokens, usually with little to no value, often distributed for use by developers on a test network.

See also: #Testnet

Fiat

Legal tender that is not backed by a tangible asset like gold or silver. Supply is controlled by the government or a central bank, adjusted in response to economic conditions and monetary policy.

Flippening, The

Slang

The name given to the hypothetical event in which the Ethereum market cap surpasses the Bitcoin market cap. Possibly inspired by the title of the film Highlander II: The Quickening.

See also: #Bitcoin, #Ethereum

FOMO

Acronym - Fear Of Missing Out

See also: #Degen

Fork

An alternate version of a blockchain that shares a common history but is modified due to a change in the underlying protocol. This is often intentionally provoked in order to apply upgrades to the network, and network supporters will abandon the older version for the improved chain.

See also: #Hard Fork, #Soft Fork

Fractionalize

The process of dividing a single digital asset into smaller units, where each piece is represented by a token that can then be bought or sold on a marketplace, exchange, or directly between users.

Fren

Slang

Intentional misspelling of "friend."

Front-running

The practice of executing a transaction ahead of others based on insider or advanced information to take advantage of price swings, liquidity imbalances, or arbitrage opportunities.

FTM

Ticker Symbol - Fantom

The native token of the Fantom network

See also: #Fantom

FUD

Acronym - Fear, Uncertainty, Doubt

Full Node

A computer or server that actively supports a blockchain network by maintaining a complete history of all past transactions and blocks, as well as independently verifying the legitimacy and integrity of transactions and blocks while relaying them to other nodes.

See also: #Archival Nodes, #Light Node, #Master Node, #Node

Fungible

Items such as goods or commodities that can be exchanged on a one-to-one basis without any loss of value between individual units. Examples include currencies and commodities like oil, wheat, or gold.

See also: #Fungible Token, #NFT, #Semi-fungible

Fungible Token

A digital asset that is divisible, uniform, and interchangeable on a one-to-one basis with other tokens or assets of the same type.

See also: #Fungible, #NFT, #Semi-fungible

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G

GameFi

Abbreviation - Game Finance

Sometimes used synonymously with #Play-To-Earn, this term refers to the intersection of gaming and decentralized finance. Gamers are offered the ability to earn digital assets that can be bought, sold, or traded outside the game’s native ecosystem utilizing blockchain technology.

See also: #CeFi, #DeFi

Gas

Fees required to execute a transaction or interaction with a smart contract on the Ethereum network.

https://ethereum.org/en/developers/docs/gas/

See also: #Ethereum, #Gas Fees, #Transaction Fee

Gas Estimator

A tool or service used to inspect pending transactions for the Ethereum blockchain to provide information on the amount of gas that will be required to execute a transaction on the network.

See also: #Gas, #Gas Fees

Gas Fee

A fee required to execute a transaction on the Ethereum blockchain. These fees incentivize miners to validate blocks and verify and process transactions between users. Prices are determined based on the complexity of the transaction, as well as current network congestion and capacity.

See also: #Gas, #Gas Estimator, #Gas Limit, #Gas Price, #Max Fee Per Gas, #Transaction Fee

Gas Limit

The highest amount of gas a user authorizes to process a transaction on the Ethereum blockchain. These amounts are often calculated automatically by cryptocurrency wallets, but they may also be set manually by users. Inappropriate limits may result in gas consumption and a failed transaction, or overpayment for a successful transaction.

See also: #Gas Fees

Gas Price

Price that a user is willing to pay per unit of computational work in relation to executing a transaction on the Ethereum network. Along with the gas limit, this is used to determine the total cost of a transaction and is determined by the demand for block space, which can vary considerably based on network congestion.

See also: #Gas Fees

Generative Art

Art that involves the use of an autonomous system to determine certain features that the artist would otherwise determine. Generative art often incorporates randomness and computational systems to represent a fusion of technology and creative expression.

See also: #NFT, #NFT Marketplace

Genesis Block

The first block of a new blockchain, and, as such, does not contain any reference to a previous block by design. This initial block records the initial state of the blockchain network and sets the stage for all future blocks and transactions.

See also: #Block, #Blockchain, #Block Explorer

GM

Acronym - Good Morning

GMI

Acronym - Gonna Make It

See also: #NGMI, #WAGMI

GNO

Ticker Symbol - The native token of the Gnosis chain.

See also: #Gnosis

Gnosis

An Ethereum layer 2 solution launched in 2017. Gnosis is governed by its community via GnosisDAO and its staking and governance token, GNO.

See also: #Ethereum, #GNO, #Layer 2

Graph

See #Open Graph or #Closed Graph

Goerli

A community-run Proof of Authority Ethereum testnet network launched in 2019 that operates as a sidechain.

See also: #Proof of Authority, #Ethereum, #Testnet, #Mainnet

Gwei

One billionth (1/1,000,000,000) of one Ether (ETH), the native token of the Ethereum network, typically used when referencing Ethereum gas prices.

See also: #Ethereum, #Gas Fees, #Wei

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H

Hackathon

A portmanteau of “hack” and “marathon.”

Participants in a hackathon work individually or in teams on software or hardware projects over a relatively short period of time, often competitively.

Halving

A mechanism implemented in some cryptocurrencies, like Bitcoin, that controls the total supply, reducing by half the rate at which new coins are created. This event occurs at regular, predetermined intervals - after a certain amount of time has elapsed or after a certain number of blocks have been mined.

Hard Fork

A significant change to the rules and protocol of a blockchain network which splits the original blockchain into two separate chains, each following a different set of rules and protocols. Transactions and other interactions on one chain after a hard fork are not recognized by the other chain.

See also: #Fork, #Soft Fork

Hardware Wallet

A physical device intended to be kept offline in order to securely store the private keys used to access cryptocurrencies and other digital assets.

See also: #Cold Wallet, #Non-Custodial Wallet, #Wallet, #Wallet Address

Hash

A cryptographic, algorithmic function that takes a string of data and produces a unique identifier of a fixed size. Hash functions are deterministic, meaning the same input will always produce the same output, allowing verification of data integrity.

See also: #Transaction Hash

Hash Rate

The total number of calculations per second performed by mining machines on a blockchain network utilizing Proof of Work.

See also: #Mining, #Proof of Work

Hashing

See #Hash.

HD Wallet

See: #Hierarchical Deterministic Wallet

See also: #Wallet

Hexadecimal

A base 16 counting system using the numbers 0 1 2 3 4 5 6 7 8 9 and the letters A B C D E F.

Hierarchical Deterministic Wallet

A cryptocurrency wallet that can generate a series of cryptographic key pairs from a single seed, typically represented by a 12 or 24 word mnemonic key phrase. The algorithm used to derive cryptocurrency addresses from the seed is deterministic, meaning it will always generate the same sequence of keys and addresses from the same key phrase, allowing for easy recovery as long as the original phrase is provided.

Hodl

Slang

Misspelling of the word "hold" on the bitcointalk.org Bitcoin Forum in 2013. The phrase was adopted by the community to convey a sense of conviction in a digital asset despite any downward movement in price action.

https://bitcointalk.org/index.php?topic=375643.0

See also: #Diamond Hands

Holding A Bag/Holding Bags

Slang

Possessing digital assets, often with the connotation that they have depreciated in value, or at least not increased as much as anticipated.

See also: #Bags, #Degen, #Diamond Hands, #FOMO, #FUD, #Paper Hands

Hot Wallet

A cryptocurrency wallet connected to the internet used to manage access to private keys and the digital assets they control. Hot wallets sacrifice some security for convenience since they are more vulnerable to hacks and malware than wallets kept offline.

See also: #Cold Wallet, #Non-Custodial Wallet, #Wallet

Hyperledger

An open-source ecosystem of tools, libraries, and products hosted by The Linux Foundation supporting the development of distributed ledger technologies.

https://www.hyperledger.org/

See also: #Blockchain, #Consensus Mechanism

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I

ICO

Acronym - Initial Coin Offering

A crowdfunding method used by projects or companies to raise capital by selling coins or tokens. Regulatory agencies have increased scrutiny of ICOs, partly in response to the proliferation of fraud, as well as issues with compliance with securities laws.

See also: #Coin, #DeFi

IDO

Acronym - Initial DEX Offering

A crowdfunding method used by projects or companies to raise capital by selling coins or tokens through decentralized exchanges utilizing liquidity pools and smart contracts. By introducing these tools, IDOs are an attempt to provide a safer investor option than ICOs.

See also: #Decentralized Exchange, #DeFi, #ICO, #IEO

IEO

Acronym - Initial Exchange Offering

A crowdfunding method used by projects or companies to raise capital by selling coins or tokens through cryptocurrency exchanges, which act as intermediaries between projects and investors.

See also: #Exchange, #DeFi, #ICO, #IDO

Immutability

The state or quality of remaining the same over time, unchangeable, incapable of alteration or modification.

Internal Transaction

Transactions on the Ethereum network between smart contracts, or transactions from a smart contract to an externally owned address (EOA).

See also: #Ethereum, #Etherscan, #NFT Marketplace, #Smart Contract, #Transaction, #EOA Transaction

InterPlanetary File System

See #IPFS

IP

Acronym - Intellectual Property

IPFS

Acronym - InterPlanetary File System

An open-source protocol and network designed to provide a decentralized file storage and referencing system, enabling the storing and sharing of hypermedia in a distributed manner.

https://docs.ipfs.tech/

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J

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K

Key

In the context of web3, a key typically refers to a cryptographic key used for authentication and access control of digital assets in a blockchain network.

See also: #Private Key, #Public Key, #Public Key Encryption

Know Your Customer

See #KYC

KYC

Acronym - Know Your Customer

The practices required by law and regulatory agencies of centralized exchanges and other financial institutions to verify the identities and background information of their customers.

See also: #AML

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L

L1

Abbreviation - #Layer 1

L2

Abbreviation - #Layer 2

Lambo

Slang

Short for Lamborghini. Often used in the phrase "wen lambo?" to jokingly refer to the time when a modest investment in a coin, token, or NFT will increase enough in value to equal the price of a brand new Lamborghini.

Lamport

One billionth (1/1,000,000,000) of one SOL, the native token of the Solana network.

See also: #SOL, #Solana

Layer 1

A primary or foundational chain in a blockchain network, providing the fundamental infrastructure and core functionality.

See also: #AppChain, #Blockchain, #Layer 2, #Sidechain

Layer 2

A secondary framework built on top of an existing blockchain network in order to address scalability and performance limitations by processing transactions and storing data off the main blockchain but maintaining a connection to ensure data integrity and security.

See also: #AppChain, #Blockchain, #Layer 1, #Sidechain

Light Client

Software that acts as an interface between users and a blockchain network and usually includes a cryptocurrency wallet but does not store the entire blockchain history, thereby minimizing resource requirements.

See also: #Client

Light Node

A node that does not store the entire blockchain history, but can connect to full nodes to retrieve the necessary information to check the authenticity and integrity of transactions.

See also: #Node, #Full Node

Liquidity

The measure of how quickly an asset can be bought or sold efficiently in the market. Highly liquid items can be bought and sold quickly at a desirable valuation, while less liquid items may take more time and effort.

See also: #Liquidity Pool, #Liquidity Provider

Liquidity Pool

A reserve of funds provided by users of a decentralized exchange in order to provide liquidity, incentivized with rewards or benefits in relation to the amount of funds they supplied. Funds are controlled by a smart contract, which automates the process and removes the need for a central figure to control or oversee transactions.

See also: #Liquidity, #Liquidity Provider

Liquidity Provider

An individual or entity that supplies funds to a liquidity pool, facilitating trading in exchange for rewards or benefits in relation to the amount of funds they provided.

See also: #Liquidity, #Liquidity Pool, #LP

Locking

See #Staking

London Fork

A hard fork that occurred in August 2021 and a major upgrade to the Ethereum network, which introduced several changes meant to improve overall performance, address the issue of fluctuating and often high transaction fees, as well as moving the blockchain one step closer to shifting from a Proof of Work to a Proof of Stake consensus mechanism.

See also: #Ethereum, #Hard Fork, #Proof of Stake, #Proof of Work

Loopring

An open-source #Layer 2 protocol and decentralized exchange built on top of Ethereum, leveraging zero-knowledge proofs and zkRollups to enable significantly more trades per second.

See also: #Decentralized Exchange, #Ethereum, #Layer 2, #Zero-Knowledge Proof, #ZK-Rollup

LP

Acronym - #Liquidity Provider

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M

Mainnet

Abbreviation - Short for "Main Network."

The live version of a primary blockchain network, fully deployed and allowing users to perform transactions with its own native cryptocurrency or token embedded within its protocol.

See also: #Testnet

Market Cap

Abbreviation - Short for "Market Capitalization."

The total size and value held in a particular asset, company, market, or industry, often measured in US dollars.

Masternode

A blockchain node that stores a complete history of a blockchain ledger and performs specific functions to support a network, including verifying and relaying transactions.

See also: #Node

Max Fee Per Gas

The highest amount a user is willing to pay per unit of gas for a transaction to be included in a block. This fee may be adjusted by the user, but inappropriate settings may result in gas consumption and a failed transaction, or overpayment for a successful transaction.

See also: #Gas Fees, #Transaction Fee

Max Priority Fee

A parameter used in the Ethereum network in relation to other transaction fee parameters like gas limit and gas price, which may be adjusted by the user in order to prioritize a transaction.

See also: #Gas Fees, #Transaction Fee

Maxi

Slang

Originally short for "maximalist."

An individual who strongly believes in, supports, and advocates for one particular cryptocurrency over all others. Sometimes used as a pejorative, suggesting a closed mind.

Maximal Extractable Value

See #MEV

Mempool

A component of a blockchain node that acts as a waiting area, storing pending transactions until they are confirmed and added to the blockchain.

See also: #Mempool Explorer

Mempool Explorer

A tool that allows users to monitor and analyze pending transactions in a mempool.

See also: #Mempool

Merge, The

The transition of the Ethereum network from Proof of Work to Proof of Stake, a significant upgrade improving scalability, energy efficiency, and sustainability. Considered a remarkable milestone in Ethereum’s development, the Merge reduced network energy consumption by 99% and paved the way for future improvements.

See also: #Ethereum, #Proof of Stake, #Proof of Work

Merkle Patricia Trie

A modified version of a Patricia Trie, a persistent data structure that keeps a historical and dynamic record of key pairs, child branches, and grandchild branches, enabling faster verifications.

See also: #Merkle Tree

Merkle Root

The topmost hash of a Merkle tree which serves as a summary of all the contained data.

See also: #Merkle Tree

Metaverse

A network of virtual worlds incorporating elements of social media, augmented reality, virtual reality, cryptocurrencies, and other digital assets.

MEV

Acronym - Maximal Extractable Value (Originally "Miner Extractable Value")

The inclusion and reordering of transactions within a block to extract the most value from it, beyond what can be obtained from the standard block rewards and transaction fees.

Miner Extractable Value

See #MEV

Mining

The process of validating transactions and blocks and adding them to a blockchain. In a network utilizing a Proof of Work consensus mechanism, the first miner to solve a cryptographic problem is allowed to add a verified block to the blockchain and claim newly generated coins and any associated transaction fees.

Sometimes used in a more general sense to refer to any process by which new digital assets are generated and added to a blockchain ecosystem.

See also: #Proof of Work

Mint/Minting

The process of generating and adding new digital assets to a blockchain network, most often referring to fungible, semi-fungible, and non-fungible tokens.

See also: #Fungible, #Semi-fungible, #NFT

Mnemonic Phrase

See #Secret Recovery Phrase

See also: #Brain Wallet

Modular Blockchain

A blockchain structured so that functions are divided into separate modules or layers, increasing flexibility by enabling modules to be added, upgraded, or replaced without affecting the entire blockchain network. The performance of the overall network is optimized by allowing modules to specialize in specific functions and communicating and interacting with other modules.

See also: #Blockchain, #Monolithic Blockchain

Monolithic Blockchain

A blockchain structured so that all functions are handled by a single chain or layer.

See also: #Blockchain, #Modular Blockchain

Moon

Slang

A scenario in which the price of a coin or token skyrockets to extraordinary levels.

Multi-Sig Wallet

A cryptocurrency wallet that requires multiple cryptographic signatures in order to process any transactions. The number of required signatures can be customized according to need when generating the wallet.

See also: #Wallet

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N

New York BitLicense

See #BitLicense

NFA

Acronym - Not Financial Advice

See also: #Due Diligence, #DYOR

NFT

Acronym - Non-Fungible Token

Main article: NFTs

See also: #Non-fungible, #Semi-fungible

NFT Aggregator

A platform that gathers and displays NFTs and related purchase or sale options from multiple NFT marketplaces.

See also: #NFT, #NFT Marketplace

NFT Marketplace

An online platform that allows users to buy, sell, or trade NFTs using automated tools for a fee, usually a small percentage of the sale price.

See also: #NFT, #NFT Aggregator

NGMI

Acronym - Not Gonna Make It

See also: #GMI, #WAGMI

Nocoiner

Slang

Someone who does not hold or invest in any cryptocurrencies, often due to extreme skepticism or negative opinions regarding blockchain technology as a whole.

Node

A device supporting a blockchain network by validating transactions, storing historical data in full or in part, or other functions. Nodes within a network are categorized by the level of responsibility they carry.

See also: #Archival Nodes, #Full Node, #Light Node, #Masternode

Non-Custodial Wallet

A cryptocurrency wallet in which the owner has exclusive and full control over the private keys used to authorize transactions of digital assets on a blockchain. Owners of non-custodial wallets are fully responsible for the safety and security of the digital assets they manage.

See also: #Custodial Wallet, #Wallet

Non-fungible

Unique, having distinct characteristics, properties, attributes, or combinations thereof. Examples include art, music, videos, real estate, and collectibles.

See also: #Fungible, #NFT, #Semi-fungible

Nonce

A unique value generated to enhance privacy and security, not to be reused. Originally a contraction of “not more than once.”

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O

Off-Chain

Processes or data that occur or are stored outside of a main blockchain network, done to reduce expense and improve efficiency.

See also: #Blockchain, #On-Chain

On-Chain

Data or transactions stored directly on a blockchain network increasing the level of trust and security for network participants.

See also: #Blockchain, #Off-Chain

On-Ramp/Off-Ramp

A platform or service that allows users to convert cryptocurrencies to traditional government-issued currencies and vice versa.

See also: #Exchange

Open Graph

A data structure or API that anyone can use or share, often blockchain or decentralized networks.

See also: #Closed Graph

Optimism

An Ethereum layer 2 blockchain network founded in 2019 and built as a scaling solution to alleviate congestion and reduce transaction fees.

See also: #Ethereum, #Layer 2

Optimistic Rollups

A category of Ethereum layer 2 scaling solutions that handle the computation of transactions off-chain and publish the results on-chain.

See also: #Optimism

Oracle

An agent or entity that connects smart contracts to external data sources or systems allowing real-world events to trigger actions on a blockchain network.

Orphan Block

One of two or more blocks produced simultaneously by miners. The orphan block, also known as a stale block, is the block discarded by the network despite its veracity.

See also: #Block, #Stale Block

OTC

Acronym - Over The Counter

The process of trading an item outside of an official exchange. In web3, this is typically an occurrence directly between two trusted individuals in order to circumvent marketplace fees.

Over The Counter

See #OTC.

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P

P2E

Acronym - #Play To Earn

P2P

Acronym - #Peer-To-Peer

Paper Hands

Slang

Term originally coined on the r/WallStreetBets subreddit referring to traders who have sold too early.

See also: #Ape, #Diamond Hands, #FOMO

Peer-To-Peer

Interactions between two parties without any intervening players, but may be coordinated by an application or network. Nodes on a distributed network can communicate directly without the need for a centralized server utilizing peer-to-peer functionality.

Pending Transaction

A transaction that has been authorized but has not yet been confirmed or validated by the network.

See also: #Speed Up Transactions, #Stuck Transactions, #Transaction

PFP

Acronym - Profile Picture

Some NFT projects are intentionally marketed as PFPs and displayed by holders in order to showcase their support.

See also: #NFT

Play-To-Earn

The practice of earning blockchain assets by playing games that can then be bought, sold, or traded on NFT marketplaces.

See also: #NFT, #NFT Marketplace

PoA

Acronym - #Proof of Authority

PoAP

Acronym - Proof of Attendance Protocol

A collectible NFT intended to verify and validate attendance at both online and real-world events.

https://poap.xyz/

See also: #NFT

PoH

Acronym - #Proof of History

Polygon

An Ethereum layer 2 blockchain network launched in 2017 as "Matic Network" and utilizing a Proof of Stake consensus mechanism.

MATIC is the native token of Polygon.

See also: #Ethereum, #Layer 2, #Proof of Stake

PoS

Acronym - #Proof of Stake

PoW

Acronym - #Proof of Work

Primitive

A reusable, fundamental, low-level component that provides essential functionality for more complex applications and services. Often standardized for common tasks and interactions that can be leveraged to build tools interoperable across multiple platforms.

Private Blockchain

A blockchain with a closed network where access is restricted to authorized participants in order to provide a higher level of privacy and confidentiality.

See also: #Blockchain

Private Key

Half of a key pair used in cryptography kept secret and used to generate digital signatures that can be verified by the public half of the key pair. Private keys are often managed by cryptocurrency wallets since they are typically long strings of random or pseudo-random alphanumeric characters and difficult for most people to memorize.

See also: #Cryptographic Signature, #Cryptography, #Public Key, #Public Key Encryption

Proof of Attendance Protocol

See #PoAP.

Proof of Authority

A blockchain consensus mechanism used by private networks in which transactions and blocks are authenticated and approved by validators chosen based on their identities and reputations.

See also: #Proof of History, #Proof of Stake, #Proof of Work

Proof of History

A blockchain consensus mechanism utilizing cryptographic timestamps and historical data that has been compressed by a hash function.

See also: #Proof of Authority, #Proof of Stake, #Proof of Work

Proof of Stake

A blockchain consensus mechanism utilizing validators chosen to create new blocks and verify transactions based on the number of relevant coins they have locked up as collateral.

See also: #Proof of Authority, #Proof of History, #Proof of Work

Proof of Work

A blockchain consensus mechanism utilizing validators to authenticate and confirm transactions, in addition to solving complex mathematical puzzles. Miners who solve the puzzle first are rewarded with newly generated coins, collected transaction fees, or both.

See also: #Proof of Authority, #Proof of History, #Proof of Stake

Protocol

A set of foundational standards governing how networks function, defining how data and information is transmitted, shared, and processed.

Public Address

A unique identifier based on the public half of a cryptographic key pair, often referred to as a wallet address. Comparable to an email address or bank account number, public addresses are publicly available and can be shared with others to facilitate transactions.

See also: #Address, #Cryptographic Signature, #Cryptography, #Public Key, #Public Key Encryption, #Private Key

Public Key

Half of a key pair used in cryptography used to verify digital signatures generated by the private half of the key pair. Public keys are often publicly available and can be shared with others to facilitate secure communications.

See also: #Address, #Cryptographic Signature, #Cryptography, #Public Address, #Public Key Encryption, #Private Key

Public Key Encryption

A cryptographic technique using a public key and private key pair to secure data communication, also known as asymmetric encryption. The private key is kept secret and used to generate digital signatures, while the public key may be freely shared to verify digital signatures generated by its public counterpart.

See also: #Address, #Cryptographic Signature, #Cryptography, #Public Address, #Public Key, #Private Key

Pump and Dump

A fraudulent scheme where the price of an item is artificially inflated through false or misleading statements, creating a temporary increase in price. The perpetrators then sell their holdings to unsuspecting investors at the inflated price, causing the price to plummet.

See also: #FOMO, #Rekt, #Rug/Rug Pull

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Q

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R

Rekt

Slang

Intentional misspelling of "wrecked."

A situation where someone has experienced a substantial financial loss.

See also: #Rug/Rug Pull

Replacement Transaction

A new transaction submitted to a blockchain network intended to update or modify the parameters of a pending transaction.

See also: #Cancel Transactions, #Pending Transaction, #Speed Up Transactions, #Stuck Transactions, #Transaction, #Transaction Fee

Rinkeby

A public Ethereum test network, now deprecated.

See also: #Ethereum, #Proof of Authority, #Testnet

Rollup

A #Layer 2 scaling solution that aggregates transactions or computations off-chain into a single batch before adding them to a blockchain.

See also: #Arbitrum, #Optimism, #Optimistic Rollups, #ZK-Rollup

Ropsten

A public Ethereum test network, now deprecated.

See also: #Ethereum, #Testnet

Rug/Rug Pull

Slang

A deliberate withdrawal of support for a project by its founders. More generally, it can refer to any situation or product that suddenly takes a turn for the worse.

See also: #Pump and Dump, #Rekt

RWA

Acronym - Real World Assets

Tangible assets represented by digital tokens on a blockchain. Tokenizing physical assets allows for fractional ownership and transparent transaction records and can reduce some types of friction associated with trading physical items in a global market.

See also: #Fractionalize, #Tokenization

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S

Satoshi Nakamoto

The pseudonymous individual or entity credited with inventing Bitcoin and writing the original Bitcoin whitepaper published in 2008.

See also: #Bitcoin, #Blockchain

Satoshis

The smallest denomination of Bitcoin, 0.00000001 bitcoin (1/100,000,000).

See also: #Bitcoin, #Satoshi Nakamoto

Secret Recovery Phrase

A group of words in a specific order used to generate a master key for a cryptocurrency wallet. The process of generating this master key is deterministic, meaning it will generate the same key pairs every time. For this reason, it is often referred to as a “recovery phase,” since entering the same secret phrase into a new wallet will grant access to and control of the same keys. Anyone in possession of this string of words will have access to the funds and digital assets held in that wallet.

See also: #Private Key, #Seed Phrase

Seed Phrase

See #Secret Recovery Phrase

Semi-fungible

A blockchain token that may begin its life as a fungible token, equally interchangeable with other tokens within the same batch or collection. Depending on changes in their lifecycle or usage, however, these tokens may take on a unique combination of traits or attributes, attaining different levels of rarity or characteristics and becoming more or less valuable than others.

See also: #Fungible, #Non-fungible, #NFT

Ser

Slang

Intentional misspelling of "sir."

SHA

Acronym - Secure Hash Algorithm

See also: #Bitcoin, #Hashing, #Mining

SHA-256

A cryptographic hash function that takes an input message or data and produces a unique, irreversible hash value with a fixed length of 256 bits.

See also: #SHA

Sharding

The process of dividing data into smaller, more manageable pieces to allow for parallel processing and increased throughput, increasing network capacity.

Shill

Promoting a product, service, or investment, usually on a social media platform. While often carrying a negative connotation, in some contexts, “to shill” is becoming more neutral and synonymous with “to promote.”

Shitcoin

An altcoin with weak fundamentals, no practical advantages over other coins, and with little to no discernible value.

See also: #Altcoin, #Pump and Dump

Sidechain

A separate and independent blockchain that operates parallel to a main blockchain, with its own consensus mechanisms and block parameters, and doesn’t rely on a main chain for security or stability. Digital items and data can be transferred between sidechains and other chains using a two-way bridge.

See also: #AppChain, #Blockchain, #Layer 1, #Layer 2

Slashing

A mechanism used in Proof of Stake networks to penalize validators for engaging in actions that interfere with the security or integrity of the network. Punishment can include losing a portion of the validator’s stake or other penalties.

See also: #Proof of Stake

Slippage

A positive or negative discrepancy between the expected or intended price of a trade and the actual price at which the trade is executed. This can occur during periods of high volatility or when there is not enough buying or selling interest at a specific price level.

See also: #Liquidity Pool

Smart Contract

Self-executing code on a blockchain with pre-defined rules to automate actions once a set of conditions are met. Once deployed, these functions cannot be modified or controlled. Despite the name, smart contracts are not legal documents.

See also: #Smart Contract Wallet

Smart Contract Wallet

A cryptocurrency wallet that is accessed and controlled by smart contracts, allowing for enhanced security and customizable functionality.

See also: #Wallet, #Smart Contract

Sock Puppet

Slang

An alternate account created by a user to manipulate public opinion, offering the illusion of support for the original account by engaging in conversations, defending its actions, or spreading false information. Multiple accounts may interact with one another to give the appearance of independent voices while, in actuality, being controlled by a single person.

See also: #Alts

Soft Fork

A blockchain protocol upgrade or modification that does not fundamentally change the structure of the blockchain and maintains backward compatibility.

See also: #Fork, #Hard Fork

SOL

Ticker Symbol - Solana

The native token of the Solana network.

See also: #Solana

Solana

A #Proof of Stake blockchain launched in 2020 and intended to provide an alternative to Ethereum.

See also: #Lamport, #SOL

Solidity

A high-level, object-oriented programming language that supports inheritance, libraries, and sophisticated user-defined types. Solidity is the native programming language of the Ethereum network.

See also: #Ethereum, #Smart Contract

Speed Up Transaction

A replacement transaction submitted in an attempt to overwrite a pending transaction with a higher gas fee in order to increase the likelihood of getting it included in the next block of transactions.

See also: #Cancel Transactions, #Failed Transaction, #Pending Transaction, #Replacement Transaction, #Stuck Transactions, #Transaction, #Transaction Fee

SPL

Acronym - Solana Programming Language

See also: #Solana

Stablecoin

A cryptocurrency designed to maintain a stable value by pegging its price to a reference asset like the US dollar.

See also: #Coin, #Cryptocurrency, #DeFi

Staking

Locking up cryptocurrency or other digital assets in a designated smart contract or staking pool in exchange for rewards in the form of additional tokens or other benefits.

See also: #DeFi, #Locking, #TVL, #Total Value Locked

Stale Block

See #Orphan Block.

Stuck Transaction

A blockchain transaction that has been unconfirmed or pending for an extended period of time, often due to a low transaction fee.

See also: #Cancel Transactions, #Failed Transaction, #Pending Transaction, #Replacement Transaction, #Speed Up Transactions, #Transaction, #Transaction Fee

Subnet

A subdivision of a larger network into smaller, more manageable segments to allow for more efficient transaction processing.

See also: #Avalanche

Swap

The exchange or trade of one digital asset for another, typically facilitated by smart contracts for increased transparency and security.

See also: #DeFi, #Decentralized Exchange

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T

Testnet

A separate blockchain network that mimics a main network that provides a safe environment for testing and experimentation purposes.

See also: #Faucet, #Mainnet

Ticker Symbol

A unique combination of letters representing assets, stock, or cryptocurrencies on various exchanges. Often limited to three letters, but may be longer.

Token

A programmable, digital asset on a blockchain that acts as a certificate of ownership, enabling the transfer and exchange of value within the web3 ecosystem.

See also: #Coin, #Cryptocurrency, #NFT, #Tokenomics, #Wrapped Token

Tokenization

The process by which data, tangible assets, intangible assets, and digital ownership are represented on a blockchain network. Tokenization allows for fractional ownership, transparent records or ownership and activity, integration with decentralized applications, and participation in decentralized autonomous organizations (DAOs).

See also: #DAO, #Fractionalize, #Token, #Tokenomics, #Wrapped Token

Tokenomics

A portmanteau of “token” and “economics.”

The overall economics and mechanisms that govern token values and circulation within the ecosystem of a specific blockchain project.

See also: #Token

Total Value Locked

A #DeFi metric used to measure the value of all digital assets locked in specific protocols.

TPS

Acronym - Transactions Per Second

Transaction

The transfer or exchange of tokens or data on a blockchain network marked by a digitally signed message that executes the event.

See also: #Block Explorer, #Transaction Fee, #Transaction Hash, #Transaction Pool

Transaction Fee

The cost associated with completing a transaction on a blockchain network, paid by the sender to incentivize network participants to authenticate and include the event in a block with other transactions.

See also: #Gas, #Gas Estimator, #Gas Fees, #Gas Limit, #Gas Price, #Max Fee Per Gas

Transaction Hash

A string of alphanumeric characters generated through a hashing algorithm assigned to an individual transaction on a blockchain network acting as a unique identifier.

Also known as a transaction ID or shortened to “tx hash.”

See also: #Block Explorer, #Transaction, #Transaction Fee, #Transaction Pool

Transaction Pool

See #Mempool

Trilemma

See #Blockchain Trilemma

TVL

Acronym - #Total Value Locked

Txn

Abbreviation - #Transaction

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U

Up Only

Slang

The belief or expectation that the price of a project or cryptocurrency will only increase.

USDC

A #Stablecoin pegged to the US dollar.

See also: #ERC-20

Utility

The functionality or practical value that a blockchain token provides to holders. Examples include access to certain events, products, or services, voting rights, or other special privileges.

See also: #NFT

UX

Acronym - User Experience

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V

Validator

A participant in a blockchain network responsible for authenticating and processing transactions.

See also: #Full Node, #Master Node, #Node

Vaporware

Slang

An anticipated product, usually software, that is heavily advertised or promoted but never becomes available to the public.

VR

Acronym - Virtual Reality

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W

WAGMI

Acronym - We're All Gonna Make It

Wallet

In the context of web3, an application or device used to store and manage cryptographic keys and the digital assets they control.

See also: #Brain Wallet, #Cold Wallet, #Custodial Wallet, #Hardware Wallet, #HD Wallet, #Hot Wallet, #Multi-Sig Wallet, #Smart Contract Wallet, #Wallet Address

Wallet Address

A unique identifier that may be shared publicly to facilitate the exchange of cryptocurrencies, tokens, and other digital assets.

See also: #Public Address, #Public Key, #Wallet

Web1

The first iteration of the internet, characterized by static websites that only displayed information with little or no opportunity for users to interact or generate content.

The "read-only" web.

See also: #Web2, #Web3

Web2

The second generation of the internet, characterized by an emphasis on user interaction and collaboration.

See also: #Web1, #Web3

Web3

The current evolution of the internet, characterized by an emphasis on decentralization and user ownership and control over their data and digital identities.

See also: #Web1, #Web2, #Web3 Domains

Web3 Domain

A domain name registered and managed on a blockchain network.

See also: #Web3

Wei

The smallest denomination of Ether, 0.000000000000000001 ETH (1/1,000,000,000,000,000,000).

Named after cypherpunk and cryptocurrency pioneer, Wei Dai.

See also: #Ethereum, #Gas, #Gwei

Wen

Slang

Intentional misspelling of "when."

WETH

Ticker Symbol - Wrapped ETH

See also: #Wrapped Ether, #Wrapped Token

Whale

Slang

An individual that holds a significant amount of cryptocurrency or NFTs.

Whitelist

Deprecated. See #Allowlist

Wrapped Ether

A tokenized version of Ether that solves the interoperability issue between Ether and apps that primarily support ERC-20 tokens, enhancing liquidity and expanding the functionality of Ether within the DeFi ecosystem.

See also: #ETH, #Ethereum, #Wrapped Token

Wrapped Token

A digital asset that represents an asset from a different blockchain or token standard. The original asset is locked in a smart contract, and the equivalent is created on the target blockchain in the relevant format, allowing for greater interoperability between previously non-compatible assets.

See also: #Ethereum, #Wrapped Ether

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X

xDAI Chain

Former name of the Gnosis Chain.

See also: #Gnosis

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Y

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Z

Zero-Knowledge Proof

A cryptographic method that allows one party to prove to another party that a particular statement is true without revealing any additional information.

ZK-Rollup

A zero-knowledge rollup is a layer 2 scaling solution that increases efficiency by processing multiple transactions off-chain, then submits a compressed summary of those transactions to the main chain, along with a proof that verifies the validity of the transactions without revealing their details.

See also: #Ethereum, #Rollup, #Zero-Knowledge Proof

zk-SNARK

Acronym - Zero-Knowledge Succinct Non-interactive Argument of Knowledge

See also: #Zero-Knowledge Proof

ZRX

Ticker Symbol - The native token of the 0x Protocol.

https://0x.org/

See also: #0x

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