Crypto Dictionary
The web3 space speaks its own language. Learn the crypto slang with our growing dictionary of abbreviations and terms.
Airdrop
ATH - All Time High
AUM - Assets Under Management
Total market value of the investments that a person or entity manages on behalf of clients. It fluctuates daily reflecting the price performance of the assets.
BFA - Brute Force Attack
Hacking method where an attacker tries every possible combination of private keys until the correct one is found. Often used as a last resort due to its time-consuming nature.
BIP- Bitcoin improvement proposal
Formal document suggesting changes or enhancements to the Bitcoin network. Allows community members to propose and discuss improvements collaboratively. here
BTC - Bitcoin
Invented by the pseudonym Satoshi Nakamoto. the first cryptocurrency based on blockchain technology that was published in 2008.
BTFD - Buy The F*cking Dip
Recommendation to buy a cryptocurrency. An advice traders give each other to buy a crypto asset that is currently on a low value.
CBDC - Central Bank Digital Currency
CCA - Cryptocurrency Climate Agreement
Initiative undertaken by cryptocurrency businesses, organizations, and individuals to mitigate the carbon footprint associated with cryptocurrency-related activities. The goal is to cut down carbon emissions to zero by 2030.
Community Governance
Process and structures through which a community or organization collectively makes decisions. The community uses Governance Tokens to signify each party’s vote on a given matter.
Dead cat bounce
Modest price uptick in a declining crypto asset, creating a false impression of a lasting recovery within an overall downtrend. It's typically a temporary and deceptive market movement.
DEFI - Decentralized Finance
DEGEN - Degenerate
DEX - Decentralized Exchange
DLT - Distributed Ledger Technology
DYOR - Do Your Own Research
ERC-20
ETF - Exchange Traded Fund
Investment fund that tracks the performance of a specific index. By investing in them, you can gain exposure to a diversified portfolio of assets with lower costs than investing in individual securities.
ETH - Ethereum
Blockchain network invented by Vitalik Buterin. Network enabling to run smart contracts and having its own cryptocurrency Ether.
Flip / Flipping
Practice of buying a cryptocurrency with the expectation of selling it quickly at a higher price to make a profit. It involves taking advantage of short-term price movements or market fluctuations to generate gains.
FOMO - Fear Of Missing Out
Forge
Creating new tokens in POS (proof of stake) systems. Forging is also known as Minting.
Fork
Split in the blockchain's protocol resulting in two separate chains, often due to a disagreement or upgrade in the network. There are hard forks and soft forks, depending on the level of compatibility between the two chains.
FUD - Fear, Uncertainty, Doubt
Gamefi - Game Finance
Refers to play-to-earn blockchain games. That means by playing the game and completing tasks, you can earn token rewards. Hence, GameFi adds a financially incentivized layer to Gaming.
GAS
Fee charged to a person in order to engage in a transaction or other operation on a Blockchain network.
On the Ethereum network, Gas is the amount of Ether required to process a transaction or run a Smart Contract or Decentralized Application.
GIT
Open-source and distributed version control system that allows software developers to track changes and coordinate work on different source codes. Keeps a history of changes in shared or private data repositories, essential for peer review .
Header
This practice is used by the Bitcoin blockchain and was first introduced by Satoshi Nakamoto in 2008.
HODL - Hold On For Dear Life
ICO - Initial Coin Offering
IOTA - Internet of Things Application
Blockchain network designed to record and execute transactions between devices in the Internet of Things ecosystem. Specifically designed to solfe the problem of how to manage a lot of data.
JOMO - Joy Of Missing Out
Felt by those who choose not to participate in an event or investment that later proves to be a failure. This feeling can be experienced by investors who avoid a failed ICO.
KYT - Know Your Transaction
Process of verifying and monitoring financial transactions in order to detect and prevent potential money laundering. It involves collecting and analyzing transactional data to identify any unusual or suspicious behavior.
L1 - Layer one
Basic building block of a blockchain network. It includes the main blockchain system and how it verifies and secures transactions, executes smart contracts, and ensures the network's reliability and fairness.
Latency
Refers to the delay or lag in the execution or processing of transactions or data on a blockchain network. It is the time it takes for a transaction to be confirmed and added to the blockchain.
Metaverse
Refers to a virtual world where people can interact with each other and digital objects in real time. It is an immersive, shared space created by the convergence of physical and digital reality.
MEW - My Ether Wallet
Free, open-source utility used for generating ERC-20 wallets (public and private keys) and interacting with the Ethereum blockchain. Currently the most popular ERC-20 wallet generator
MOON - To The Moon
NFA - No Financial Advice
NFT - Non Fungible Token
NGMI - Not Gonna Make It
NONCE - Number Used Only Once
This number represents the culmination of a rather technical process in cryptography. In essence, the nonce is the number that crypto miners are ‘solving’ for.
Oracle
Data intermediary that connects blockchain smart contracts with external real-world information, enabling smart contracts to make informed decisions based on external events or data feeds. Bridge between on-chain and off-chain data sources.
Orphan Block
Refers to a block that has not been accepted into a blockchain. It occurs when two miners generate blocks simultaneously. One of the blocks is accepted and added to the blockchain, while the other block is considered an orphan and subsequently discarded.
OTC trading - Over the counter
Process of buying and selling financial instruments directly between parties without the involvement of an exchange. In the Cryptocurrency context, this means P2P or Off-Chain trading of Digital Assets.
POS - Proof Of Stake
POW - Proof Of Work
Private Key
Sequence of data that enables entry to a digital asset stored in either software or hardware wallet. This key is employed to unlock a digital signature, allowing for the spending or trading of the digital asset.
QR code - Quick Response
Two-dimensional barcode that can be read by a smartphone's camera, allowing quick access to information. Can be used to provide access to secure digital wallets or to verify transactions on a blockchain network.
ReFi - Regenerative finance
REKT - Wrecked
Royalties
Income generated by an NFT creator when their NFT is resold on the secondary market. Royalty standards must be coded into the NFT’s Smart Contract.
SAFU - Secure Asset fund for users
Protection of user funds and assets held by an exchange or platform. It signifies a commitment to prioritizing the safety and protection of users' assets.
SAT
"Satoshi" the smallest unit of measurement for Bitcoin. One Bitcoin is equal to 100 million Satoshi. Creator of Bitcoin, Satoshi Nakamoto, who wrote the Bitcoin White Paper.
SCAM
Dishonest or fraudulent scheme that attempts to take money or something of value from people. investment scams often promise you can "make lots of money" with "zero risk".
SegWit
Protocol that changes how data is stored by moving signature information outside of a block. It also supports second-layer solutions such as the Lightning Network.
Smart contract
Self-executing agreement embedded in computer code that automatically carries out predefined actions once specified conditions are met. It utilizes blockchain technology to ensure transparency, security, and immutability in the execution of contractual terms without the need for intermediaries.
TA - Technical Analysis
TLT - Think Long Term
Mindset of making long-term investments. Thinking about the future of your investments. How far a person is thinking could go from months to even years.
Token
TOR - The Onion Router
UTXO - Unspent Transaction Output
Utility Token
Digital asset used within a blockchain ecosystem to access services or features. Unlike security tokens, utility tokens do not represent ownership in an underlying asset or company.
VASP- Virtual Asset Service Provider
Business or organization that provides services related to buying, selling, or transferring virtual assets. Includes cryptocurrency exchanges, wallet providers and other similar services.
Vanity Address
WAGMI - We All Gonna Make It
Wallet
A wallet is a place to store your coins and tokens, e.g. Bitcoin or Ethereum. It is a software program that stores private and public keys and enables users to send and receive coins or tokens and monitor their balance.
Web3
WHALE
X86 virtual machine
It lets developers create smart contracts in familiar programming languages and ensures programs run predictably and securely.
Yellow paper
Zero knowledge proof
Blockchain protocol that allows for verification of information without revealing the source. It can be used to verify transactions on a Blockchain without revealing sender, recipient, asset, or amount.