AFK (Away From Keyboard)

AFK, which stands for “Trading Mode,” is a term commonly employed on social media platforms such as Twitter, where users share their trading activities. In this context, AFK indicates that a user is currently focused on their trading activities and will only engage with messages and notifications while actively monitoring their trading account. Unlike users who are constantly active on their social feeds, AFK traders typically engage in trading for more extended periods, emphasizing their commitment to the financial markets.

Altcoins

An altcoin is essentially a cryptocurrency that serves as an alternative to Bitcoin, which, at one point, stood as the sole digital currency in existence. In its early years, Bitcoin held such a dominant position that it acted as the reference point against which all other contenders were measured. It was essentially “Bitcoin versus the rest,” and anything not Bitcoin was somewhat scornfully referred to as altcoins or, in some cases, even less favorably, as “sh*tcoins,” humorously echoing the original digital currency. Today, altcoins encompass any cryptocurrency that isn’t Bitcoin. However, this definition was more relevant during the early days of cryptocurrency when Bitcoin commanded the lion’s share of the market’s attention, and competitors numbered in the dozens or even a few hundred. Fast forward to the present, and some experts now suggest there are over 19,000 individual cryptocurrencies in existence. Consequently, it’s becoming less appropriate to simply categorize the crypto landscape as “Bitcoin and everything else.”

Consensus 

Within a blockchain network is the intricate process orchestrated by a group of distinguished peers, referred to as ‘nodes,’ to adjudicate the authenticity of blockchain transactions. The execution of this consensus is governed by specific methodologies, aptly known as consensus mechanisms. These meticulous sets of regulations serve as the bulwark against potential malevolent activities and cyber threats. The realm of consensus mechanisms is highly diverse, each tailored to suit the unique requirements of distinct blockchain applications. While they may vary in aspects such as energy consumption, security features, and scalability, their overarching objective remains unchanged: to affirm the veracity and integrity of transaction records.

All-time high

The term “all-time high” signifies the pinnacle point in the history of a specific asset’s value on the open market. It represents an unparalleled accomplishment or setback, marking a record that remains unmatched. Originating in the early 20th century as an American expression, this phrase has found relevance in diverse domains, encompassing economic achievements, recreational milestones like golf scores, and countless other spheres of human endeavor.

Bull Market

A bull market represents a financial market scenario where asset prices, including stocks, crypto, bonds, commodities, and real estate, exhibit a prolonged and consistent uptrend. During such periods, investor confidence soars, fostering a widespread positive expectation for the market’s future performance. In essence, it is a phase marked by ascending stock prices and an overwhelmingly optimistic market sentiment. In technical terms, a bull market typically materializes when a broad market index experiences an upswing of at least 20% over a span of no less than two months. 

Bear Market

A bear market, in the realm of securities and commodities trading, signifies a market that is on the decline. In this context, a “bear” is an investor who anticipates a drop in prices and, based on this expectation, engages in a speculative practice known as “selling short.” This strategy involves selling a borrowed security or commodity with the intention of repurchasing it at a reduced price in the future.

The term “bear” might find its origins in the idiom “selling the bearskin before one has caught the bear,” implying a premature attempt to profit from a situation. Alternatively, it could be linked to the idea of selling when one holds no stock, being “bare” of holdings. 

Block

In the realm of blockchain technology, a ‘block’ serves as a fundamental component where crucial data is securely stored. In the context of cryptocurrency blockchains, these data-rich blocks primarily encapsulate transaction records. The ingenious aspect of blockchain lies in its capacity to establish a continuous, immutable chain of blocks. This is achieved by linking each block to its predecessor through the utilization of cryptographic hashes within the block headers. Such a chaining mechanism effectively preserves the chronological order of blocks, ensuring the perpetuity of data stored within.

The permanence of blockchain is further underscored by the irreversible nature of transactions once they are incorporated into a block. Once a block is appended to the blockchain, it is eternally etched into the ledger, immune to any alterations or modifications. This unyielding quality guarantees that all information residing within these blocks remains unchanged for the duration of the blockchain’s existence. This progressive process of stacking blocks atop one another in a linear fashion culminates in the formation of an unbroken chain, harboring the comprehensive history of transactions across the network. Each block, one after another, harmoniously contributes to this seamless tapestry of data, exemplifying the remarkable resilience and integrity of blockchain technology.

Block reward

In the realm of cryptocurrency mining, the term “block reward” pertains to the compensation granted to a miner for their successful validation of a new block within the blockchain. This compensation is composed of two integral components: the block subsidy and the transaction fees. The block subsidy encompasses newly minted coins and constitutes the substantial proportion of the total block reward, while the remaining portion is derived from the collective transaction fees associated with the transactions incorporated into the block.

51% attack

Also known as a majority attack, refers to a theoretical scenario in a blockchain network where an individual or a single entity possesses over 50% of the network’s total computational power. In this circumstance, the controlling party gains the ability to determine which transactions get validated, potentially disrupting the system, impeding other users’ transaction confirmations, and enabling the fraudulent practice of double-spending digital coins.

51% attack protection

A security measure employed by numerous cryptocurrencies, designed to deter malicious actors from gaining control of the network. It necessitates the collaboration of over 50% of the total hashing power, making it considerably challenging for potential attackers who would require even more resources and time to overpower the system. Furthermore, if the threshold is set below 100%, an added protective feature mandates that at least 66% of the network must reach a consensus on each transaction before it is validated, preventing double-spending without detection until the changes are permanently recorded on the blockchain.

Airdrop

A token giveaway refers to a situation in the blockchain space where a project disseminates complimentary tokens or coins to the broader community.

Air gapping

Also known as physical isolation, is a security measure that involves creating a complete physical separation between digital information or machinery and potential unauthorized access, thereby bolstering security by eliminating any direct or electronic connections between them.

Bag holder

An informal term used to refer to investors who are still retaining particular assets that have experienced a substantial decrease in value from their initial purchase price, often suggesting a reluctance to sell or a belief in the asset’s potential for future recovery.

Bitcoin

Bitcoin is a decentralized digital cryptocurrency that was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. It is a form of digital currency that operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers.

Bitcoin Maximalist

An individual who staunchly advocates for the supremacy of Bitcoin over all other cryptocurrencies, often expressing unwavering support for Bitcoin’s unique features and market dominance while dismissing the value or relevance of alternative digital assets.

Block height

In the context of blockchain networks like Bitcoin (BTC), block height denotes the numerical count of blocks in the blockchain’s sequence, commencing with block #0, also known as the genesis block. This initial block was created during the network’s inaugural set of modifications and serves as the foundation of the blockchain’s chronological structure.

Block reward

An economic incentive mechanism employed by cryptocurrencies to compensate individuals for their successful verification and addition of a new block to the blockchain. Instead of spontaneously generating new coins or tokens, they are earned through the process of mining, which demands significant computational resources and electricity expenditures. Miners secure the network and protect digital assets by performing the essential work required to prevent unauthorized access or theft of tokens. This system ensures the integrity of the cryptocurrency ecosystem and motivates individuals to participate in its maintenance.

Block size restriction

The upper bound on the data capacity of a blockchain block, typically expressed in bytes. In the case of Bitcoin, it is set as a fixed value of one megabyte, whereas Ethereum has recently undergone an adjustment, expanding it to approximately 20% of that value, equivalent to approximately 12.66 megabytes. Further increments are anticipated in the upcoming years.

Bollinger Bands

An analytical tool employed by traders to assess market price volatility, comprising a trio of lines delineated at deviation levels above and below a central reference line.

BTD (Buy The Dip)

A term used in the cryptocurrency market, and it refers to the strategy of purchasing digital coins or tokens when their prices experience a significant decline, allowing investors to capitalize on the lower cost opportunities.

Cryptography

stands as a paramount technique in safeguarding information and enabling secure communication by employing intricate codes, ensuring that only the designated recipients possess the capability to comprehend and manipulate the transmitted data.

Within the realm of computer science, cryptography encompasses the utilization of mathematical principles and a meticulously crafted set of algorithmic procedures. Its primary purpose is to obfuscate messages in a manner that renders decryption a formidable challenge. These deterministic algorithms are harnessed for a spectrum of critical tasks, including cryptographic key generation, digital signing, and verification, ultimately serving to fortify data privacy. Its applications extend to safeguarding web browsing activities, protecting confidential communications, such as secure credit card transactions, and preserving the confidentiality of electronic correspondence, such as email. 

1:1 Art

An exclusive NFT artwork crafted as a one-of-a-kind masterpiece, existing solely in a singular edition.

10k project

A groundbreaking assembly of around 10,000 avatars, echoing the innovative spirit of the renowned CryptoPunks collection, has emerged in the NFT realm. The term has become a household name, often employed to describe comparable avatar endeavors, transcending the mere numerical count of NFTs within the collection.

Attribute

Characteristics that define and differentiate NFTs within a collection, often used to determine rarity.

Blockchain

The decentralized digital ledger technology where NFT ownership is recorded and transferred.

Burn

Describing the absolute obliteration of an NFT, the process involves a unique method known as “burning.” By dispatching the NFT to the contract address, it undergoes a fiery digital demise, rendering it utterly annihilated and impervious to any further transfers. It’s a symbolic act of farewell, ensuring the NFT ceases to exist in its current form.

Collectible

An item that holds significance or scarcity, like limited edition LEGO sets or exclusive sneakers, is often considered valuable and sought after.

Crypto Art

Digital artwork that is tied to an NFT, ensuring its authenticity and ownership.

Decentralization

Distribution of power away from a central point, fundamental to blockchain and NFT transactions.

Degen

Abbreviated as “degen,” it typically characterizes individuals drawn to high-risk wagers. Within the crypto realm, it specifically alludes to those diving headfirst into investments involving digital assets such as NFTs, adopting an “ape-ing” approach without conducting thorough research or due diligence.

Delist

The act of canceling the listing of a non-fungible token (NFT) for sale on an open market is a multifaceted decision that involves various considerations and motivations. This action, though seemingly straightforward, is a strategic move that artists, collectors, and investors might undertake for a myriad of reasons.

Collectors and investors may also opt to cancel an NFT listing for strategic portfolio management. As the value of NFTs can fluctuate based on market trends and the popularity of specific artists, collectors might choose to reevaluate their holdings periodically. Canceling a listing could be part of a broader strategy to refine and optimize their digital asset portfolio, ensuring alignment with their investment goals and market trends.

Legal and ethical considerations also come into play when deciding to retract an NFT from the open market. Artists may realize that certain contractual obligations or intellectual property concerns necessitate a removal. In some cases, disputes over ownership, licensing agreements, or the need to comply with evolving legal frameworks may prompt the decision to cancel an NFT listing.

Doxxed / Doxed

In the world of NFTs, transparency is a prized gem. When the identity of a team member, developer, or creator behind an NFT project is publicly disclosed, known, or verifiable, it becomes a valuable signal. The act of “doxing” an NFT team, revealing their identities, is often seen as a gesture of confidence and transparency. For NFT collectors, this unveiling is a reassuring sign that they are dealing with real individuals rather than anonymous entities. It serves as a protective measure, ensuring that collectors can trust the project and lowering the risk of falling victim to scams orchestrated by anonymous creators. In the NFT market, the disclosure of identities becomes a powerful symbol, fostering trust and a sense of security among the community.

Drop

In this pioneering event, participants are encouraged to retain designated assets in their digital wallets, whether they be cryptocurrencies, decentralized finance (DeFi) tokens, or unique digital assets such as non-fungible tokens (NFTs). The longer users securely hold onto these assets, the more tokens and exclusive NFTs they earn as a token of appreciation for their commitment to the ecosystem.

The concept behind this event not only promotes the idea of “HODLing” within the crypto community but also introduces an element of gamification to the process. Users become active players in the crypto landscape, strategically managing their digital assets to maximize their rewards. It transforms the act of holding assets into a rewarding experience, fostering a sense of loyalty and dedication among participants.

Moreover, this event aims to introduce diversity in the types of assets users can hold to earn rewards. From mainstream cryptocurrencies like Bitcoin and Ethereum to emerging DeFi tokens with promising potential, participants have the flexibility to curate their portfolios based on their preferences and market insights. This diversity adds an exciting dimension to the event, catering to the varied interests and strategies of the crypto community.

The distribution of free tokens and NFTs serves as a unique way to introduce users to new projects, platforms, or emerging trends within the blockchain space. Participants not only benefit from the immediate rewards but also gain exposure to the broader crypto landscape, fostering a sense of exploration and curiosity.

Dutch auction

A distinctive bidding strategy encompasses a comprehensive evaluation of all received bids for a particular asset before establishing a maximum price. This approach involves a gradual reduction of the ceiling price at predefined time intervals.

ENS (.eth)

ENS, or Ethereum Name Service, is a valuable service offering .eth domains for sale. These unique domains serve as concise identifiers for your lengthy Ethereum wallet, streamlining the process of identification and facilitating the sending of ETH/NFTs. By acquiring a .eth domain, you not only personalize your wallet but also enhance accessibility for others, making transactions more straightforward and efficient within the Ethereum ecosystem.

ERC-721

A standard for representing non-fungible digital assets on the Ethereum blockchain.

ERC-1155

A blockchain standard that enables a single contract to contain both fungible and non-fungible tokens, often used for items in video games.

Ethereum

A popular blockchain platform that supports NFTs through smart contracts.

Etherscan

Introducing an innovative Ethereum Block Explorer and Analytics Platform! Seamlessly verify balances, scrutinize transactions, assess the value of your digital collectibles, and explore a myriad of other functionalities. Your all-in-one solution for navigating the Ethereum blockchain with ease.

Farm

The widely recognized phrase, often employed in the gaming community, refers to a practice where players acquire virtual assets within the game environment as a reward for dedicating their time and exerting effort. In this gaming context, the term encapsulates the concept of earning valuable in-game items, currency, or other digital possessions through the investment of one’s time and skills during gameplay. This symbiotic relationship between players and the virtual world fosters a sense of accomplishment and progression, as individuals are rewarded for their commitment and achievements in the gaming realm. The concept emphasizes the immersive nature of gaming experiences, where players are not only participants but active contributors to the evolution of their in-game presence through continuous dedication and skill development.

Fiat

Government-issued currency that is not backed by a physical commodity, like the US dollar or euro.

Flip

When you engage in the act of “flipping,” whether it be an NFT (Non-Fungible Token) or a token within the cryptocurrency domain, you are essentially adopting a rapid buying and selling approach with the primary goal of making swift profits.

The term “flipping” has become synonymous with a dynamic trading strategy where individuals quickly acquire and divest digital assets. In the context of NFTs or tokens, this process involves purchasing the asset at a relatively lower price and then promptly reselling it at a higher market value, capitalizing on short-term market fluctuations.

This strategy relies on the principle of leveraging volatility within the market to generate immediate financial gains. Traders who specialize in flipping often closely monitor market trends, identifying opportunities for quick transactions to capitalize on price differentials.

In the NFT space, flipping involves navigating the digital art and collectibles market with agility. NFT flippers aim to seize opportunities presented by rapidly changing valuations of digital assets, taking advantage of market inefficiencies and price differentials.

Floor Price

The term ‘floor’ or ‘floor price’ within the realm of Non-Fungible Tokens (NFTs) refers to the minimum price at which one can acquire an NFT from a particular collection when transacting on the secondary market.

In the dynamic landscape of NFTs, each digital asset or collectible belongs to a specific collection or project. The ‘floor price’ acts as a foundational benchmark, setting the baseline value for an entry-level acquisition within that collection. It essentially represents the lowest monetary threshold at which an interested buyer can participate in owning a piece of the NFT project.

This concept is crucial for both creators and collectors in the NFT ecosystem. For creators, it reflects the perceived value of their NFTs in the broader market, influencing potential buyers’ entry points. For collectors, the ‘floor price’ provides insight into the cost of entry to start building their collection or investment portfolio within a specific project.

As the NFT market is known for its dynamism and fluctuations, the ‘floor price’ serves as a practical metric to gauge the overall health and popularity of a particular NFT collection. A rising ‘floor price’ may indicate growing demand and interest, signaling a thriving community and potentially attracting more collectors.

On the other hand, a decreasing ‘floor price’ might suggest shifting trends, alterations in market sentiment, or an oversaturation of the specific NFT collection. Collectors and investors often monitor these fluctuations in the ‘floor price’ as part of their decision-making process, adapting their strategies based on the evolving dynamics of the NFT market.

Gas Fees

Transaction fees paid to miners on a blockchain protocol to have your NFT transaction included in the blockchain.

IPFS (InterPlanetary File System)

A peer-to-peer hypermedia protocol designed to make the web faster, safer, and more open, used for storing and sharing NFT data.

Minting

The process of creating a new NFT by recording it on the blockchain.

NFT (Non-Fungible Token)

A type of cryptographic token that represents a unique item or asset on the blockchain.

OpenSea

One of the largest NFT marketplaces where users can buy, sell, and discover exclusive digital items.

Proof of Provenance

Documentation that provides verifiable history of an NFT’s ownership and authenticity.

Rarity

A measure of how uncommon certain traits are within an NFT project, affecting value and desirability.

Royalties

A percentage of sales paid to the original creator of an NFT each time it is sold on the secondary market.

Smart Contract

Self-executing contracts with the terms of the agreement directly written into lines of code, used for creating and managing NFTs.

SBT (Soulbound Token)

A conceptual type of NFT proposed to represent individual credentials, affiliations, or commitments, which are non-transferable and tied to one ‘soul’ or identity on the blockchain. This term has been popularized by Vitalik Buterin, co-founder of Ethereum, as a way to reflect personal attributes such as reputation or achievements in a decentralized context.

Token Standard

A set of rules and functions that a token must follow and can execute on the blockchain, like ERC-721 and ERC-1155.

Wallet

A digital tool that allows users to store, send, and receive NFTs and cryptocurrencies.

Whitelist

A list of users granted early or exclusive access to mint NFTs before the general public.

AML (Anti-Money Laundering) 

A comprehensive regulatory system implemented by governments across the globe to combat illicit financial activities, encompassing actions such as the concealment of unlawfully obtained funds, support for terrorist activities, deceptive financial schemes, and a range of related offenses.

Blockchain 

Blockchain technology is like a super-secure digital record-keeping system. Instead of one big database, it’s like a chain of connected blocks, and it’s super tough to change anything once it’s in there. Imagine it’s like a never-ending notebook where we write down all sorts of business stuff, like orders and payments. Once it’s written, it can’t be erased or changed without everyone in the group agreeing. So, it’s like an indestructible history book for tracking everything we do. Plus, it’s got safeguards to make sure only the right people can add stuff to the book, which keeps things fair and honest for everyone involved.

Casper 

Ethereum’s innovative proof-of-stake protocol enhancement, engineered to supersede the conventional proof-of-work system, with the primary objectives of enhancing network scalability and bolstering security by significantly raising the economic barrier for potential attackers seeking to compromise the network.

Decentralized applications 

abbreviated as DApps, exemplify blockchain-backed, smart contract-driven renditions of the applications that have gained prominence through the Ethereum network. These DApps function in a manner indistinguishable from their conventional counterparts, seamlessly blending into the user experience, yet offering a substantially enriched array of features. The emergence of DApps signifies a paradigm shift in the realm of personal finance. In the traditional financial landscape, one typically associates financial activities like lending, borrowing, savings, and the like with centralized authorities such as banks and financial institutions as their driving forces.

Vitalik Buterin

Russian-Canadian computer programmer, and one of the founders of the Ethereum (ETH) blockchain platform for decentralized financial applications. At twenty-seven years old, he became the world’s youngest billionaire when Ethereum broke the $3,000 mark in May 2021. During the second part of 2013, he developed the idea for the Ethereum white paper, which was officially announced at the beginning of 2014 with an expert team that included Buterin, Alisie, Anthony Di Iorio, Charles Hoskinson, Joe Lubin and Gavin Wood. According to currently available information, Buterin owns 284,000 Ethereum cryptocurrencies, and is in the twenty-fifth place in terms of Ethereum holdings at the moment.

Charles Hoskinson

American computer expert and mathematician, one of the co-founders of Ethereum (ETH), and the founder of Cardan (ADA). His current projects focus on educating people about cryptocurrency, being an evangelist for decentralization and making cryptographic tools easier to use for the mainstream. This includes leading the research, design and development of Cardano, a third-generation cryptocurrency that launched in September 2017. He went on to create Cardano, a proof of stake blockchain platform, with the goal of overcoming problems found in previous crypto projects, focusing on the flexibility, sustainability, scalability, and security of the blockchain.

Gavin Wood

British computer scientist, one of the co-founders of Ethereum, and the creator of Polkadot and Kusama. He laid the foundation for the launch of a computer program for smart contracts called Solidity. Wood’s ambition with Polkadot is to turn the modern internet into Web 3.0, a decentralized version of the world wide web. The team behind Polkadot aims to achieve the feat by utilizing sharding, cross-chain kits, parachains, total governance, and a multitude of different features. In comparison to Bitcoin’s proof of work mechanism, Polkadot relies on proof of stake mechanism and allows developers to create their own blockchain that can talk to other ledgers, forming a system of parachains. Developers can decide what kind of transaction fees to charge and how fast to confirm blocks of transactions across the digital ledgers.

Satoshi Nakamoto

although we still do not know the identity of this person, we are talking about an individual or a group of people behind the creation of Bitcoin and its whitepaper. The name appears on the white paper that originally proposed bitcoin, as well as in forums and code involved in its development. Although there have been many people suspected of being Nakamoto, nobody has been able to prove it. Proving this identity should actually be very simple, because having the first Bitcoins ever would undoubtedly prove who the creator and first miner of this cryptocurrency was.

Changpeng Zhao

better known by the nickname “CZ” is the founder and CEO of the world’s largest cryptocurrency exchange, Binance. He is a Chinese-origin Canadian businessman, investor and a software engineer with a net worth estimated at $10 billion according to Forbes. In March 2023, a top US markets regulator charged Binance and Changpeng Zhao for multiple violations, in another move by Washington against the once high-flying sector. The charge sheet accused Binance of failing to uphold standards that are required of a company operating as a derivatives market.

Gary Gensler

the current chair of the United States Securities and Exchange Commission (SEC). The Senate confirmed him on April 20, 2021, by a vote of 54-45, for a term ending on June 5, 2026.

Gensler was the chairman of the Commodity Futures Trading Commission. He served during the Obama administration from 2009 to 2014. He was an undersecretary of domestic finance and assistant secretary of financial markets during the Clinton administration.

Michael Saylor

founder and former director of software analytics firm MicroStrategy, whose director he was until the summer of 2022. One of the pioneers in the world of Internet development, and a participant in the famous Internet bubble. Passionate investor in Bitoin, and precisely because of him, MicroStrategy is the company that owns the largest number of Bitcoins.

Elon Musk

South African-born American entrepreneur who cofounded the electronic payment firm PayPal and formed SpaceX, maker of launch vehicles and spacecraft. He owns about 23% of Tesla between stock and options, and has pledged some of his shares as collateral for loans. During 2022, he bought the Twitter platform for social networks, which he changed the name to the X platform. His social media posts have a direct and significant impact on the financial world, especially cryptocurrency prices. At the moment, he is famous as the richest man in the world, according to information from the reputable magazine Forbes, where his net worth is estimated at 252.60 billion US dollars.

Sam Bankman-Fried

an American investor and entrepreneur, and the founder and director of the failed cryptocurrency exchange FTX. Sam Bankman-Fried was one of the richest people in crypto, thanks to his FTX exchange and Alameda Research trading firm, before his empire came crashing down in November 2022. During FTX’s collapse, he also became known to a broader audience. He is alleged to have committed one of America’s most significant financial frauds, with his net worth falling to roughly $16 billion — and then nearly zero in just one week.

Brian Armstrong

American entrepreneur and computer engineer who is known as the founder and CEO of Coinbase, the largest American cryptocurrency exchange. It is estimated that Brian Armstrong’s net worth in 2023 could be anywhere from $2.4 billion to $2.8 billion. This number is based on his current stake in Coinbase and the projected growth of the exchange. Coinbase serves over 73 million verified users, 10,000 institutions, and 18,000 ecosystem partners in over 100 countries. In April 2021, Coinbase was listed publicly on NASDAQ as COIN.