The next iteration of the web, which leverages blockchain technology, open-source applications, and the decentralization of data and information. Web3 aims to remove control of the web from tech companies, and return ownership of data and content to its users.

a marketing technique in which crypto projects send their native tokens directly to the wallets of their users in an effort to increase awareness and adoption.

Using digital signatures to prove the authenticity, validity, or identity of information and its sources. One of the main value propositions of cryptography.

The world’s first blockchain network and cryptocurrency, invented by the pseudonymous Satoshi Nakamoto (identity unknown). Originally conceived in a 2008 white paper as “an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party”.

a publicly-accessible digital ledger 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.

the process of removing tokens from a cryptocurrency’s circulating supply, usually done by sending them to an inaccessible wallet address. Other digital assets, such as NFTs, can also be burned via the same process. 

an offline device used to store cryptocurrencies. Cold wallets can be hardware devices or simply sheets of paper containing a user’s private keys. Because cold wallets are not connected to the internet, they are generally a safer method of storing cryptocurrencies.

the state of agreement amongst the nodes on a blockchain. Reaching consensus is necessary for new transactions to be verified and new blocks to be added to the blockchain.

a digital asset designed to be used as a medium of exchange. Cryptocurrencies are borderless, secure, and maintained by blockchains as opposed to centralized banks or governments.

Short for “decentralized autonomous organization”, a self-governing, blockchain-based community that uses self-executing code, token voting, or some other programmatic mechanism for coordination. 

an application built on open-source code that lives on the blockchain. 

Short for “decentralized finance”, a category of blockchain-based financial applications and infrastructure that is designed to replace financial intermediaries with software.

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

Tokens that are interchangeable, meaning one can be swapped for any other in the same set. Analogous to how one $10 bill can be exchanged for any other $10 bill.

a fee paid by a user to conduct a transaction or execute a smart contract on the Ethereum blockchain. This fee is dependent upon the transaction’s complexity as well as the current demand on the network.

the selling of tokens to the public in order to raise capital for a crypto-based project . ICOs are a crowdfunding approach. 

this is the blockchain platform itself, also referred to as the base layer, mainchain, or mainnet.

protocols built on top of a layer 1 blockchain and commonly used to improve scalability, privacy, and add cross-chain communication.

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

An Online space with digitally persistent environments that people inhabit, as avatars, for synchronous interactions and experiences, accessing the shared virtual space through virtual reality, augmented reality, game consoles, mobile devices, or conventional computers.

This is the process of verifying transactions, organizing them into blocks, and then adding blocks to the blockchain. Participants who perform this process are called miners.

The process of validating information and registering that onto the blockchain.

Short for “non-fungible tokens”, meaning each token is unique and not interchangeable with any other. Applications include representing ownership of physical goods, digital media, intellectual property, royalty rights, in-game items, or network identifiers akin to DNS names. NFTs can also be non-transferrable, or “soulbound”, such that they may represent personal achievements, credentials, and affiliations.

Any device connected to a blockchain network. Different nodes have varying levels of responsibility, and may help validate transactions, store the blockchain’s history, relay data, and perform other functions. 

A distinction denoting whether a given activity takes place on a blockchain network or not.

Profile picture, usually referring to one of an NFT

An alphanumeric passcode required to withdraw assets from a blockchain wallet and authorize digital transactions.

Uses to point to your wallet address, 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.

An open system in which anyone can participate freely. 

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. 

A token with its value pegged to another asset. Stablecoins are usually backed by a fiat currency, like the US dollar.

A software application or hardware device used to store the private keys to blockchain assets and accounts. Unlike a traditional wallet, a blockchain wallet does not actually store the coins or tokens themselves. Instead, they store the private key that proves ownership of a given digital asset.

Short for “token economics”,  a field concerning the design of incentive systems for virtual economies, as in blockchain networks.

Cryptographic techniques that can prove a claim is true while revealing no other information other than that the claim is true. Zero knowledge proofs can compress and control access to information, which has useful applications for blockchain network scalability, privacy, and regulatory compliance.