Browse Alphabetically
A
ABI
Application Binary Interface is represented in JSON format and specifies how to encode and decode data from a particular smart contract.
B
Blockchain
A publicly accessible digital ledger is used to store and transfer information without the need for a central authority. Blockchains are the core technology on which cryptocurrency protocols like Bitcoin and Ethereum are built.
BNB Chain
One of the most popular programmable blockchains and smart contract platforms. BNB Chain comprises BNB Beacon Chain (formerly Binance Chain) and BNB Smart Chain (formerly Binance Smart Chain).
Bridge
A bridge allows assets such as tokens or NFTs from different blockchain networks to be transferred or “bridged” between each other.
BUIDL
A term derived from the word "Build," which is similar to the term "HODL," and refers to building and contributing to the blockchain and cryptocurrency ecosystem.
Bull Market
A period where market prices are rising.
Burn
“Burning” is the process of destroying and removing tokens or NFTs from circulation. Burning is the opposite of minting.
Bytecode
Instructions or codes are expressed in a numeric format so that a virtual machine can efficiently interpret them.
C
CEX
Centralized Exchange: A cryptocurrency exchange is managed by a centralized business or entity. (i.e. Coinbase, Gemini, Kraken)
Coin
A cryptocurrency built on its native blockchain is intended to be used as a store of value and a medium of exchange within that ecosystem. (i.e. BTC, ETH)
Consensus
When numerous nodes—usually most nodes on the network—all have the same blocks in their locally validated best blockchain, they have achieved consensus.
Contract
A contract is an account that contains and is controlled by EVM code. Contracts cannot be controlled by private keys directly unless built into the EVM code, a contract has no owner once released.
Cryptocurrency
One use of blockchain networks, the most well-known of which is Bitcoin. Many industry practitioners prefer the term “tokens” because it more aptly communicates the abstract, generalizable nature of the technology.
Cryptography
The practice/method of exchanging secure and encrypted messages between two or more parties.
D
DApp
Decentralized Application: An application built on open-source code that lives on the blockchain. Dapps exist independent of centralized groups or figures and often incentivize users to maintain them through rewarded tokens.
DeFi
Decentralized Finance: A category of blockchain-based financial applications and infrastructure that is designed to replace financial intermediaries with software.
Decentralization
A system that operates without the control of a central figure or authority, and replaces it with a distributed peer-to-peer network.
Deplatforming
The ejection of users or suspension of accounts by a network owner, usually without transparent due process.
DEX
Decentralized exchange: A platform where various cryptocurrencies can be swapped, traded, and added to liquidity pools. A DEX is run by smart contracts and not controlled by a single business entity, group, or individual.
e
ERC
Ethereum Request for Comments: An application-level standard for Ethereum (i.e. ERC-20 is a common protocol for deploying fungible tokens on Ethereum).
ERC20
The Ethereum token standard, providing a standardized smart contract structure for fungible tokens.
ERC721
An Ethereum token standard that allows for the formation of unique tokens, otherwise known as NFTs. Unlike ERC-20, ERC-721 tokens have specific properties that allow each to be uniquely identified and valued independently of one another.
Ether
The primary internal cryptographic token of the Ethereum network. Ether is used to pay transaction and computation fees for Ethereum transactions.
Ethereum
A public blockchain serving as the foundation for decentralized applications. Ethereum is a complete language, that allows users to write and deploy complex, self-executing smart contracts that live on the blockchain.
Externally Owned Account
An account controlled by a private key. Externally owned accounts cannot contain EVM code
f
Faucets
Sources of token supply and a tool for keeping prices balanced in a virtual economy. Airdrops and DAO Treasury distributions are two common types of faucets.
Fiat
Fiat money is a type of money that is not backed by any commodity, such as gold or silver, and is typically declared by a decree from the government to be legal tender.
Fork
A fork occurs when a blockchain splits into two different branches. There can be many reasons for a fork (usually upgrades), and the community usually votes on the decision to fork a network.
Fractionalization
The process of subdividing an asset into multiple pieces. Commonly used for dividing a single non-fungible token into many fungible tokens.
G
Genesis Block
The first ever block recorded on its respective blockchain network.
GM
Good morning - a friendly greeting in the crypto community for a pleasant morning and a great day ahead, often used on platforms like Twitter and Discord.
Gwei
A gwei is one billionth of an ETH, the native token of the Ethereum blockchain.
H
Hash
A unique, fixed-length cryptographic code, or identifier, representing a piece of data. Hashes are essential to modern cryptography and blockchain networks, which use them to ensure digital security and data integrity.
Hash Rate
Also referred to as hash power, this is the rate at which a computer can generate guesses for a cryptographic puzzle. Hash rate can also refer to the overall power being used by the entire network on a proof-of-work blockchain.
Hardware Wallet (Cold Wallet)
A physical device that stores cryptocurrency private keys offline, making them less vulnerable to hacking than software wallets (Hot wallet)
HD Wallet
A wallet using the hierarchical deterministic (HD) key creation and transfer protocol (BIP-32)
HD Wallet Seed
A value is used to generate the master private key and master chain code for an HD wallet. The wallet seed can be represented by mnemonic words, making it easier for humans to copy, back up, and restore private keys.
I
Internal Transactions
Internal transactions are transactions that occur between smart contracts. This can also include transactions from a smart contract to an external address when sending ETH to a user.
IPFS
InterPlanetary File System: A protocol, network, and open-source project designed to create a content-addressable, peer-to-peer method of storing and sharing hypermedia in a distributed filesystem.
Internet Protocol
An open protocol that defines how to format, address, and route packets of information between machines on the Internet. Internet protocol, or IP, comprises the networking layer of the internet tech stack, which sits above the physical device layer.
K
Killer App
A software application that is so compelling it drives the adoption of a new technology or platform. Often, killer apps exploit a new technology or platform’s unique capabilities.
L
Layer 2 (L2)
A program or technology that exists on top of a Layer 1 blockchain, often created to accomplish something that may not be easily achievable by its parent Layer 1 (i.e. increase speed or functionality).
Light Client
A blockchain client that does not store the entire blockchain. Instead, the light client relies on other nodes in the network to provide the necessary information.
Light Nodes
Do not have the entirety of the current blockchain state and depend on a full node, which is useful for low-memory and computational devices.
Liquidity
A measure for how easily an asset can be converted to another (usually cash but also common for Layer 1 tokens)
Liquidity Pool
A liquidity pool is a pool of cryptocurrencies available to trade on a decentralized exchange (DEX). Pools are usually composed of assets deposited by users, which can be traded with other assets in the pool through smart contracts.
M
Mainnet
The production version of a blockchain network where transactions and other operations are recorded and processed. It is a blockchain protocol’s primary and original network, as opposed to a testnet.
Mining
The process of performing cryptographic computations to solve a problem first in exchange for token rewards. Used in Proof-of-Work chains.
Mint
To manifest new tokens onto a blockchain.
N
Nodes
A server or computer running blockchain-specific software used for connecting to and interacting with that blockchain.
Nonce
In cryptocurrency mining, a nonce is a number added to a block header to produce a hash that meets a specific difficulty target and allows the block to be added to the blockchain.
O
Off-chain
This means a coalition of community members steers it like protocol networks
On-chain
This means through mechanisms such as token voting, self-executing code, or a combination.
Oracles
A service supplying smart contracts with data from the outside world. Smart contracts are unable to access data that exists off-chain, so they rely on oracles to retrieve, verify, and provide external information. (i.e. Chainlink, Band Protocol)
Optimism
The Optimism network is a layer-2 scaling solution for Ethereum, that uses “optimistic rollup” technology to allow faster and cheaper transactions off-chain, while still being secured by the underlying Ethereum blockchain.
P
PFP
An NFT used as a profile picture (PFP). Popular NFT PFPs include Bored Apes and Crypto Punks.
Polygon
The Polygon network is a layer-2 scaling solution for Ethereum that uses a system of interconnected Ethereum sidechains to facilitate faster, cheaper transactions and lower gas fees.
Private (Secret) Key
The secret value that allows Ethereum users to prove ownership of an account or contract, by producing a digital signature.
PoH
Proof of History: A consensus mechanism that relies on an internal clock to track the passage of time
PoS
Proof of stake: A cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain.
PoW
Proof of work: is a consensus mechanism by which a blockchain network achieves distributed consensus by choosing the next block producer (miner) via a computational race. The miner who solves a cryptographic puzzle the fastest gets to add the next block to the chain and is rewarded for their work in cryptocurrency.
Protocol
The foundational software layer of a program. Protocol has become a general term used to refer to both layer 1 blockchain networks and the layer 2 applications built on top of them - Bitcoin, Ethereum, Uniswap, and Lightning Network can all be considered protocols.
Protocol Networks
The original internet network type, exemplified by email and the web, is known more technically as the protocols SMTP and HTTP. Protocol networks are open, permissionless systems that are controlled by communities of software developers and other network stakeholders.
Public Key Encryption
A special kind of encryption where there is a process for generating two keys at the same time (typically called a private key and a public key), such that documents encrypted using one key can be decrypted with the other.
R
Rollup
A scaling solution that aims to improve transaction throughput and decrease fees by batching multiple transactions off-chain and then submitting them to the main chain as a single transaction. (i.e. Optimism, ZK, Arbitrum)
RPC
Remote Procedure Call, which is a protocol that allows programs to execute procedures or functions on a remote server as if they were local.
Rug Pull
A scam maneuver where a crypto project takes the invested funds and runs. A rug pull can also occur for assets with centralized ownership. If someone can sell a large portion of the circulating supply at once, this rapidly increases the supply, which can cause the price of the asset to plummet.
S
Scalability
A protocol’s capacity to handle higher demand and increase transaction throughput as the network grows.
S-curve
A growth-over-time chart that many new technologies follow as they go from minimal to mainstream adoption. It resembles the letter “S”.
Seed Phrase
A string of words used as a master password to access a crypto wallet. Because a single wallet can contain multiple accounts, all with their own private keys, a seed phrase makes it easy to access them all with the same password.
Self-executing
Self-executing means it can function by itself, not controlled by any other party. Self-executing smart contracts would cut costs/overhead by removing the need for an arbitrator and trusting a third party.
Sidechain
A parallel blockchain used to offload transactions from the main chain to increase scalability or add other functionality. Sidechains are connected to their main chain, or parent chain, via a two-way link, which allows data and assets to be seamlessly transferred. (i.e. Matic, Dai)
Signing
“Signing” in Web3 is the process of creating a digital signature using a combination of your wallet’s private keys, cryptography, and encryption. When you sign anything using your wallet, the receiving address (or “signee”) decrypts and verifies that the request was sent by your private key and completes the transaction.
Sharding
A method of separating a network’s nodes into smaller groups (shards) in an attempt to increase scalability. These shards are then able to reach consensus on behalf of the entire network, removing the need for every node to process every transaction.
Shil
The act of heavily promoting a cryptocurrency, stock, or other asset to increase adoption and, in turn, raise its price. This is usually done via spamming on social media and generally carries a negative connotation.
Slashing
A punishment that confiscates a validator’s staked collateral in some proof of stake blockchain networks, like Ethereum. Slashing can occur if a validator gets caught lying, such as by voting for contradictory state transitions or proposing multiple conflicting state transitions simultaneously.
Slippage
Self-executing code deployed on a blockchain. Smart contracts allow transactions to be made without an intermediary figure and without the parties involved having to trust one another.
Smart Contract
The act of heavily promoting a cryptocurrency, stock, or other asset to increase adoption and, in turn, raise its price. This is usually done via spamming on social media and generally carries a negative connotation.
Solidity
The native programming language of Ethereum, mainly used to write smart contracts.
Stablecoins
Tokens designed to maintain a stable price. These can be pegged to currencies, like the U.S. dollar, or regulated algorithmically by automated market-making processes.
Staking
The process by which validators lock tokens in code-enforced escrow accounts to help secure a proof of stake blockchain network. Staking is a kind of “security” sink-in that takes tokens out of circulation.
State Transition
The essence of computation. A state transition is what happens when a machine modifies its internal state, or memory, according to the logic of a processor. Blockchains are virtual computers that undergo state transitions according to their consensus mechanisms.
Storage
A key/value database contained in each account, where keys and values are both 32-byte strings but can otherwise contain anything.
Sui
A PoS-based Layer 1 blockchain designed to provide instant settlement and high throughput for latency-sensitive decentralized applications.
T
Testnet
Short for "test network," a network used to simulate the behavior of the main Ethereum network.
Tokens
Units of ownership in blockchain networks. Often thought of as digital assets or currencies, but more accurately defined as data structures that can track quantities, permissions, and other metadata for users. Tokens can be fungible, like bitcoin, or non-fungible, like NFTs.
Tokenomics
Short for “token economics," a field concerning the design of incentive systems for virtual economies, as in blockchain networks. Healthy systems should balance sources of market supply and demand — such as faucets and sinks, to maintain equilibrium.
Transaction
A transaction is a digitally signed message authorizing some particular action associated with the blockchain. In a currency, the dominant transaction type is sending currency units or tokens to someone else.
Trustlessness
The state of a system in which there’s no need for a higher authority, such as an intermediary or central entity, to oversee transactions. Instead, trustless systems, like blockchain networks, can securely verify the validity of transactions all by themselves using cryptography and consensus mechanisms.
U
Utility
Often used to describe the functionality of a cryptocurrency or NFT.
V
W
Wallet Address
Also known as a public key, this is an alphanumeric code that serves as the address for a blockchain wallet, similar to a bank account number. Other users can send digital assets to your wallet via your public key, but only you can access your wallet’s contents by using the corresponding private key.
Web2
Another name for the second phase of the commercial internet, circa 2006–2020. Also known as the read-write era.
Web3
Another name for the third phase of the commercial internet, circa the present day. Powered by blockchain networks, it is also known as the read-write own era.
Whale
An individual or organization that holds a large amount of cryptocurrency. Whales often significantly influence the market due to their ability to buy or sell large amounts of cryptocurrency at once, potentially causing large price movements.
Whitelist
A list of pre-approved individuals or entities allowed to participate in an exclusive early access activity, such as an initial coin offering (“ICO”) or token sale.
Z
Zero-knowledge Proofs
A method in cryptography where one party can prove a statement's truth without revealing any additional information.
zkSync Era
A specific network within the zkSync ecosystem that operates as a Layer-2 scaling solution for Ethereum.
