If you are new to the encryption world, Web3 "terms" or "jargon" may be an entry barrier, quickly learn the basic terms of Web3 through this article, bid farewell to the identity of novices, grasp real-time hotspots, and grasp the wealth outlet
Web3.0 Terminology Encyclopedia
Web3: Different from Web1 and Web2, the ownership of digital content created by users belongs to users and does not rely on centralized platforms
Metaverse: The next generation of Internet applications and forms generated by integrating multiple new technologies
Blockchain: a distributed and decentralized computer technology, which is the technical basis of Web3
Cryptocurrency: A medium of exchange that uses the principles of cryptography to secure transactions and control the creation of trading units, such as Bitcoin
Address : blockchain wallet address
AMA : Ask Me Anything, usually refers to a question-and-answer event held by the project party or the person in charge of the transaction
AMM : Automated Market Maker
Airdrop: A marketing technique whereby a cryptocurrency project sends its native token directly into the wallets of its users in an effort to increase awareness and adoption
NFT: Non-Fungible Token, non-fungible token, can be used as a financial product to buy and sell non-fungible tokens, unique and cannot be modified and copied
Ethereum: Similar to Web2's Android and Windows systems, it is an open source public blockchain platform with smart contract functions
Smart contract: Automated execution according to mutually agreed rules, which cannot be tampered with by any party
Digital wallet: a tool used to store digital assets, the well-known digital wallet is Metamask (little fox wallet)
Hash algorithm: a cryptographic algorithm that can only be encrypted but not decrypted, and can convert information of any length into a fixed-length string
DAO: Decentralized organization, a collaborative behavior of co-construction, co-governance, and sharing spontaneously generated by groups that have reached the same consensus
White list: generally refers to the list that confirms that a certain digital collection or NFT can be purchased or purchased in advance, and there is no need to compare hand speed and network speed with others during the public sale
BTC : Bitcoin, Bitcoin
Defi: Abbreviation of Decentralizedfinance, financial services such as decentralized transactions, loans, and investments built on the blockchain
Gamefi: games with financial attributes, Gamefi=Game+finance, can be understood as games that make money while playing
Socialfi: Socialized finance, Socialfi=social+finance combines social networks with Defi to make money through social networking
dApps: Decentralized applications, which refer to applications that exist and run on the blockchain network
Staking: Locking up cryptocurrency as collateral, often earning rewards for it
Mining: Mining is the process of bookkeeping on the blockchain. Miners are bookkeepers. As long as they successfully grab the bookkeeping right, they can get rewards
Pow: workload proof, a consensus mechanism that requires miners to complete complex mathematical problems, the more they do, the more they get
Pos: proof of rights and interests, a consensus mechanism that requires betting a certain amount of cryptocurrency on the chain, the more you hold, the more you get
Gas Fee: It is the fee required to execute a transaction or contract on the blockchain, depending on the complexity of the transaction and the total demand on the current chain
Exchange: refers to a centralized financial service platform that can conduct cryptocurrency transactions
Burn: burn tokens
CEX: Centralized exchange, a platform for exchanging or buying cryptocurrencies, such as Binance, Ouyi
DEX: Decentralized exchange, a type of dapp that allows people to exchange tokens on the network, such as Uniswap you need to have ETH (as payment transaction fee) to use it, but they are not like centralized exchanges That's geo-restricted - anyone can participate
Organization: distributed autonomous organization
White Paper: It is a specification report formulated and publicly released by the Web3 project party to clarify and implement
Roadmap: The roadmap of the project, which generally appears in the white paper. Shows the timeline planning of the Web3 project party for future development
Play to Earn: The economic model of Gamefi (block chain game), players earn money by playing games, obtaining and selling virtual assets
Mint: Minting, the process of verifying information on the blockchain, usually used to describe the behavior of users generating NFT in the primary market
Token: Token is a digital asset created on the blockchain that can be used to interact with dapps
Solidity: Ethereum's native programming language, mainly used to write smart contracts
Layer 0: Also known as the data transmission layer, it corresponds to the bottom layer of the OSI model and mainly involves the combination of blockchain and traditional networks
Layer 1: The first layer protocol, also known as the main chain or main network, is used to describe the main blockchain network protocol, such as Ethereum or Bitcoin
Layer 2: The second layer protocol, built on top of the first layer, as a solution, usually used to improve scalability, privacy security, etc.
Layer 3: Client application layer, which is the UI platform that we as consumers actually interact with
A16Z: The world's top Web3 venture capital institution, one of the VCs with the most Web3 projects is the layout
Digital collection: NFT with domestic characteristics, has financial attributes, but cannot be traded in the secondary market
Defi : Decentralized Finance, decentralized finance
Discord: referred to as DC, a community-based communication software. In recent months, many GameFi and NFT projects have built their own community Discord. Features: Practical, overcrowded, mixed
DYOR: Do Your Own Research, do your own research well, and be irresponsible for your own remarks, it is a way of dumping the pot
ETH: Ethereum, Ethereum
Floor Price: floor price, meaning the lowest price of this NFT
FOMO: Fear Of Missing Out, fear of missing out, generally refers to the fear of the next wave of market and blindly follow the trend
Gas Fee: It is the fuel fee. In Ethereum, you need to use ETH to pay the handling fee for each transaction. For example, when you transfer encrypted assets from account A to account B, you need to pay Gas Fee to the miners who help you complete the transaction. Therefore, Gas Fee is also called "miner's fee"
GM: good morning - good morning
GN : good night - good evening
GOAT: Greatest Of All Time, the best ever, generally used as a rainbow fart, purely used to express respect and respect, usually with a goat pattern
GMI: Gonna Make It, we'll make it! Generally used as group encouragement
Liver: Refers to the behavior of players registering by inviting people, forwarding the group, chatting on Discord or in the domestic Shuzang community to upgrade their level, signing in every day, and striving to get whitelist qualifications
ICO : Initial Coin Offering, Initial Coin Offering
IEO : Initial Exchange Offering, Initial Exchange Offering
IFO : Initial Fork Offering, the first fork offering
KYC : Know Your Customer, real-name authentication
Scientists: Write powerful code robots to achieve their own goals. Engineers, or people who buy corresponding robots, will scan the goods at the fastest speed during the token/NFT public sale
OTC : Over The Counter, OTC/Fiat Currency Trading
Private key: A private key is an alphanumeric code that a user must enter to access their wallet or authorize the exchange of blockchain-based assets or currencies
PAOP: Proof of Attendance Protocol, a virtual token that acts as evidence—often also called a “badge”—that an individual is virtually present at a particular event
Rug: Abbreviation for Rug pull, which is a common absconding event in the encryption industry
Stake: "Pledge" means to lock the token/NFT in the smart contract of the exchange to get other rewards
Tokenomics: token economics
USDT : Tether United States Dollar, a stable currency based on blockchain
Wallet: Wallet, an encrypted wallet is an application for storing and protecting blockchain-based assets and keys for accounts. Hot wallets and cold wallets are also divided
Whale: a giant whale, an individual, institution or exchange that holds a large amount of cryptocurrency
ZK : Zero-Knowledge Proof: Zero-Knowledge Proof, is a verification method in which the "prover" shows to the "verifier" that it has secret knowledge without revealing the sensitive information itself It can ensure data privacy and confidentiality on the public blockchain sex