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
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)
558
1.19K reads
MORE IDEAS ON THIS
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 valid...
555
790 reads
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 r...
569
1.76K reads
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 d...
558
675 reads
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...
552
695 reads
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:
558
1.06K reads
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 sm...
583
2.82K reads
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...
559
967 reads
CURATED FROM
CURATED BY
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.
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