Impress Your Friends with these 30 NFT and Web3 Acronyms - Deepstash
Metaverse

Learn more about crypto with this collection

Find out the challenges it poses

Learn about the potential impact on society

Understanding the concept of Metaverse

Metaverse

Discover 76 similar ideas in

It takes just

11 mins to read

Cold Wallet, DAO, Defi and Diamond Hands

Cold Wallet, DAO, Defi and Diamond Hands

Cold Wallet: A wallet that stores assets. It is not connected to the internet which adds an additional layer of security.

DAO: Decentralized Autonomous Organization

Defi: Decentralized finance; financial entities that operate using smart contracts on blockchains that do not rely on central financial intermediaries

Diamond Hands: Used to describe holding onto assets for the longer term even if there is pressure to sell

594

2.9K reads

ERCs, Fiat, FUD, Fungible

ERCs, Fiat, FUD, Fungible

ERC 20, ERC 721, ERC 1155: Most common token standards on Ethereum (for things like NFTs)

Fiat: Traditional currency like USD or EUR

FUD: Fear, uncertainty, and doubt

Fungible: With many goods/assets, it’s not really important which one you have (one US dollar is basically the same as another US dollar). Non-fungible goods/assets mean that every individual good/asset is unique and that some are likely more valuable/different than others

579

1.81K reads

Gas, GM, Gwei, and HODL

Gas, GM, Gwei, and HODL

Gas: Transaction fees to process things on a blockchain. gas fees are often suggested by a wallet or platform depending on the congestion of the network but you can opt to lower or raise them which may influence the speed (or certainty) with which your transaction is processed.

GM: Good morning (say it on Twitter or in your Discords for some community love)

Gwei: Gigawei (1,000,000,000 Wei). Wei is the smallest unit of ether (similar to what a penny is relative to a dollar). Gas is measured in Gwei.

HODL: Hold on for dear life (an apt term for many things in this space)

568

1.23K reads

Hot Wallet, KYC, and Minting

Hot Wallet, KYC, and Minting

Hot Wallet: An internet-connected wallet that stores digital assets. It’s wise to exercise caution with these and generally avoid holding too much value in them to help mitigate against risk.

KYC: Know your customer. Many exchanges/wallets/platforms require you to verify your identity to help fight fraud, money laundering, etc.

Minting: The process of creating a new block and recording information on the blockchain. This is a common part of participating in NFT drops. Many projects have a “mint” day where you process a transaction to bring your NFT into your wallet.

568

1K reads

NFT, NGMI, Oracle, and Paper Hands

NFT, NGMI, Oracle, and Paper Hands

NFT: Non-fungible token (see fungible above). An NFT can be almost anything from a photo to a video to a song.

NGMI: Not gonna make it (often used to refer to individuals that make less-than-ideal decisions to buy/sell in the space)

Oracle: A third-party service that allows smart contracts to interface with outside information/data sources

Paper Hands: A tendency to flip/sell frequently and/or after small increases or decreases in value

568

1.09K reads

POS, POW, Private Key, and Public Address

POS, POW, Private Key, and Public Address

Proof of Stake: A mining construct that states a miner can mine/validate block transactions based on how many coins they hold.

Proof of Work: A mining construct that achieves consensus through solving complex mathematical problems using computation to validate/achieve consensus on transactions.

Private Key: Think of this like the key to your house. You should take extreme care to protect these and never give them out to anyone.

Public Address: Think of this like your home address. It’s a semi-public record of your location on the blockchain(s).

564

816 reads

Roadmap, Smart Contract, and Sniping

Roadmap, Smart Contract, and Sniping

Roadmap: Many NFT projects have a “roadmap” that lays out their plans for a project. It’s helpful to look at these with a critical eye.

Smart Contract: A self-executing contract that spells out the terms for buyers and sellers in code that is recorded and distributed on the blockchain. The code of a smart contract controls the execution of transactions. Transactions are trackable, immutable, and irreversible.

Sniping: A tactic to identify and quickly scoop up NFT assets that are undervalued/underpriced. There are many tools for this but TraitSniper is a useful starting point.

568

696 reads

Staking, Token, Whitelist, and WGMI

Staking, Token, Whitelist, and WGMI

Staking: An arrangement where you agree to lock up your assets (cryptocurrency or NFTs) for a period of time in exchange for rewards (usually tokens or cryptocurrency or NFTs). Rewards are similar to interest for keeping money in a savings account.

Token: A cryptographic entry that represents an NFT, payment/currency unit, trading asset, information holder, etc.

Whitelist / Allow List: A method of access control that’s typically used to grant private access to a platform or experience (it’s often used for minting NFT projects)

WGMI: We’re all gonna make it (a supportive rallying cry)

561

716 reads

CURATED BY

sheilaja

Product designer

CURATOR'S NOTE

Web3 is mired in a dizzying array of acronyms that make diving an uphill battle. Here are some which will help you become more familiar with this exciting, dynamic space.

stash-superman-illustration

Explore the World’s

Best Ideas

200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.

An Idea for Everything

Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.

Knowledge Library

Powerful Saving & Organizational Tools

Save ideas for later reading, for personalized stashes, or for remembering it later.

# Personal Growth

Take Your Ideas

Anywhere

Organize your ideas & listen on the go. And with Pro, there are no limits.

Listen on the go

Just press play and we take care of the words.

Never worry about spotty connections

No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.

Get Organized with Stashes

Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.

Join

2 Million Stashers

4.8

5,740 Reviews

App Store

4.7

72,690 Reviews

Google Play

Ashley Anthony

This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!

Shankul Varada

Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.

Sean Green

Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.

samz905

Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.

Laetitia Berton

I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!

Ghazala Begum

Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.

Jamyson Haug

Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.

Giovanna Scalzone

Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving & library

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Personalized recommendations

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates