GLOSSARY

  1. Crypto Art

    a type of digital art that is represented as an NFT and stored on a blockchain.

  2. NFT: Non-Fungible Token

    a unique digital asset that represents ownership or proof of authenticity of a particular item or piece of content, stored on a blockchain.

  3. Blockchain

    a decentralized, digital ledger that records transactions across a network of computers in a secure, transparent and tamper-proof way.

  4. Ether (ETH)

    the native cryptocurrency of the Ethereum blockchain, used as a payment for transaction fees, computational services and for the creation of NFTs.

  5. Gas

    a unit of measurement for the computational effort required to execute a transaction on the Ethereum blockchain.

  6. Hash

    a unique string of characters, generated from the data of a digital asset, used to identify it on a blockchain.

  7. Digital Wallet

    a software program that stores private keys and public addresses, allowing users to send and receive cryptocurrency and access their NFTs.

  8. Smart Contract

    self-executing code on a blockchain, designed to automatically enforce the terms of an agreement between parties.

  9. ERC-721

    Ethereum Request for Comment (ERC) standard for NFTs, defining the necessary code for a smart contract to manage non-fungible tokens.

  10. ERC-1155

    Ethereum Request for Comment (ERC) standard for NFTs, allowing for the creation of both fungible and non-fungible tokens within the same contract.

  11. Fungible Token

    a type of token that is interchangeable, with equal value and interchangeable with other tokens of the same type.

  12. MetaMask

    a popular browser extension and mobile wallet for the Ethereum blockchain, used for accessing decentralized applications and managing NFTs.

  13. DApp

    Decentralized Application - a software application built on a blockchain, where the backend code runs on a decentralized network.

  14. Collectible

    a physical or digital item of limited quantity, highly valued by collectors for its rarity and uniqueness.

  15. Yield Farming

    the process of lending or staking cryptocurrency to earn a reward, often in the form of additional tokens.

  16. DeFi

    Decentralized Finance - a movement to use blockchain technology to disrupt traditional financial systems, with a focus on transparency, accessibility, and security.

  17. Tokenization

    the process of converting assets, such as real estate or art, into tokens, allowing for fractional ownership and trade on blockchain.

  18. OpenSea

    a decentralized marketplace for buying, selling, and discovering NFTs.

  19. Rarible

    a decentralized marketplace for buying, selling, and discovering NFTs.

  20. Nifty Gateway

    a platform for buying and selling limited edition NFTs from top artists, celebrities and brands.

  21. UNI

    a cryptocurrency token that powers the Uniswap decentralized exchange, allowing for the exchange of NFTs and other digital assets.

  22. Liquidity Pool

    a pool of assets, provided by users, used to facilitate trades on decentralized exchanges.

  23. Whitepaper

    a detailed report outlining the concept, purpose, and technical aspects of a blockchain project or NFT.

  24. Public Key

    a string of characters, generated by a digital wallet, used to receive cryptocurrency and access NFTs.

  25. Private Key

    a secret string of characters, generated by a digital wallet

  26. Blockchain

    A decentralized, distributed ledger that records transactions across multiple computers in a secure and transparent way.

  27. Decentralized Autonomous Organization (DAO)

    A decentralized organization run by code rather than people.

  28. Cryptocurrency

    A digital or virtual currency secured using cryptography and based on blockchain technology.

  29. Smart Contract

    Self-executing contracts with the terms of the agreement directly written into code.

  30. Token

    A unit of value or asset that is issued on a blockchain.

  31. Non-Fungible Token (NFT)

    A unique and indivisible digital asset that represents ownership of a specific item such as art, music, or collectibles.

  32. Distributed Ledger Technology (DLT)

    A system that allows multiple participants to have a shared and synchronized record of transactions and data.

  33. P2P (Peer-to-Peer) Network

    A network of computers where each participant can act as both a client and a server.

  34. Interoperability

    The ability for different blockchain systems to communicate and exchange information with each other.

  35. Web3 Stack

    A set of technologies that make up the infrastructure of the decentralized web.

  36. Ether (ETH)

    A cryptocurrency used to pay for transactions on the Ethereum network.

  37. Gas

    A fee paid in ETH to execute transactions and smart contracts on the Ethereum network.

  38. DApp (Decentralized Application)

    A decentralized software application built on a blockchain network.

  39. Public Blockchain

    A blockchain that is open for anyone to join and participate in.

  40. Private Blockchain

    A blockchain that is restricted to a specific group of participants and not open to the public.

  41. Consensus Mechanism

    A process used to achieve agreement among participants in a blockchain network on the current state of the ledger.

  42. Hash

    A unique, fixed-size digital signature created from a larger block of data.

  43. Merkle Tree

    A data structure used to verify the integrity of data stored in a blockchain.

  44. Mining

    The process of solving complex mathematical problems to validate transactions and add new blocks to a blockchain.

  45. Proof of Work (PoW)

    A consensus mechanism that requires participants to perform a specific amount of computational work to validate transactions and add blocks to a blockchain.

  46. Proof of Stake (PoS)

    A consensus mechanism that requires participants to hold a certain amount of cryptocurrency in order to validate transactions and add blocks to a blockchain.

  47. Staking

    The process of holding a certain amount of cryptocurrency in a wallet in order to participate in a proof of stake consensus mechanism.

  48. Wallet

    A software program or hardware device used to store, manage, and send cryptocurrencies.

  49. Oracles

    A third-party service that provides real-world data to smart contracts.

  50. DeFi (Decentralized Finance)

    A financial system built on blockchain technology that operates without intermediaries.