All Abbreviation And Terms Used In Web3

All Abbreviation And Terms Used In Web3

Table of contents

No heading

No headings in the article.

  • Airdrop : a marketing technique.

  • Alpha : valuable or insider info.

  • Altcoin : initially used to refer to any cryptocurrency that wasn’t Bitcoin

2021-new-popular-cryptocurrency-bitcoin-altcoin-icon-vector-illustration-set-2E2K68D.jpg

  • Ape : someone who invests heavily into a crypto or stock.

  • ATH : All Time High

  • ATL : All Time Low

  • Bear Market : prolonged period of decline in a financial market.

pasted image 0.png

  • Bearish : similar to a bear market, this refers to holding a pessimistic view of a market or asset’s value.

  • Bitcoin : the very first decentralized, peer-to-peer, digital currency.

bitcoin.gif

  • Block : Every block contains information about the previous block, thus, chaining them together.

explosive_view_6-9840e2c7a18f24455b875fe469a67a08.png

  • Blockchain : Blockchains are the core technology on which cryptocurrency protocols

Bitpanda-Infographics_3-blockchain.jfif

  • Blockchain Domains : NFT domains

  • Block explorer : a tool for browsing information on a blockchain, such as transactions, wallet addresses, market caps, and hash rates.

  • Bridge : a protocol allowing separate blockchains to interact with one another.

  • Buidl - “build”.

  • Bull Market : a period where market prices are rising.

download.jfif

  • Burn : the process of removing tokens from a cryptocurrency’s circulating supply, usually done by sending them to an inaccessible wallet address.

  • Centralized : a hierarchical structure in which authority and control are concentrated within a small group of decision makers.

Centralised-and-distributed-networks.png

  • CEX : Centralized Exchange

  • CeFi : Centralized Finance

coinbase-lend.png

  • Coin : a cryptocurrency built on its own native blockchain,

  • Consensus : consensus is necessary for new transactions to be verified and new blocks to be added to the blockchain.

0_FCWGyPmN-wBK4wBe.jpeg

  • Consensus Mechanism : a process through which nodes on a blockchain come into agreement on a transaction or state of the network(Proof of Work,Proof of Stake)

  • Cryptocurrency : a digital currency designed to be used as a medium of exchange.

A_Brief_History_of_Cryptocurrency.webp

  • DAO : Decentralized Autonomous Organization

  • Dapp : Decentralized Application

  • Decentralized : a system that operates without the control of a central figure or authority.

  • Degen - degenerate gambler.

  • DeFi : Decentralized Finance

08-10_Facebook.png

  • DEX- Decentralized Exchange

  • EIP : Ethereum Improvement Proposal

  • ERC : Ethereum Request for Comments

  • ERC-20 : the Ethereum token standard, providing a standardized smart contract structure for fungible tokens.

  • ERC-721 : an Ethereum token standard that allows for the formation of unique tokens, otherwise known as NFTs

  • ERC-1155 : an Ethereum token standard which allows for fungible, non-fungible, and semi-fungible tokens to be managed by a single smart contract simultaneously.

  • Ethereum : a public blockchain serving as the foundation for decentralized applications.

hero.png

  • Fiat : a currency established as legal tender, often backed and regulated by a govt.

  • FOMO : Fear Of Missing Out

  • Fork : a change to a blockchain’s protocol.

  • FUD- Fear, Uncertainty, and Doubt.

  • Fungible : exchangeable with something else of the same kind.

  • Gas : a fee paid by a user to conduct a transaction.

  • Genesis Block :the very first block of a blockchain network.

images (1).png

Bitcoin-Genesis-block.jpg

  • gm : simply meaning “good morning”.

  • Gwei - 10^9 gwei = 1 ether.

  • Hard Fork : a fundamental change to a blockchain that is not compatible with the existing protocol,

  • Hashing : the process of taking an input of any size and producing a corresponding fingerprint of a fixed-length

hash-flow.png

  • Hash rate : this is the rate at which a computer can generate guesses to a cryptographic puzzle.

  • HODL : an expression meaning “hold”.

  • ICO : Initial Coin Offering.

  • IEO : Initial Exchange Offering .

  • Key :refers to public key, private key.

  • L1 : Layer 1

  • L2 : Layer 2

  • L3 : Layer 3

  • Liquidity: a measure of how easily an asset can be bought, sold, or traded in a given market or on an exchange

  • Liquidity Pool : a collection of user-provided fundslocked into a SC to facilitate trading on a DeFi platform

  • Mainnet : short for main network.

  • Market Cap : the total value of an asset based on its current market price.

  • Metaverse : a virtual world.

hero-image.fill.size_1248x702.v1636731309.jpg

  • Mining : this is the process of verifying transaction, organizing them into block and then adding block to the blockchain.

banning-cryptocurrencies.jpg

  • Minting : the process of validating information, such as domain ownership, and registering that onto the blockchain.

  • NFT : Non-fungible token

1412625.jpg

  • NGMI : not gonna make it

  • Node : any device connected to a blockchain network.

  • P2P : Peer-to-Peer

a-1.png

  • PFP : profile picture, usually referring to one of an NFT.

  • Private Key : your wallet password

  • Public key : uses to point to your wallet address

  • PoS : Proof of Stake

  • PoW : Proof of Work

  • Rug pull : a scam maneuver where a crypto project takes the funds that have been invested into its protocol and runs.

  • WAGMI : We alll goona make it

IPuhPrFa_400x400.jpg

If you found this article useful:

  • Follow ME
  • Like it,
  • BOOKMARK IT.

Quote of the day ~ You do not find a happy life, You make it.

fin