Crypto lingo12/29/2023 Some of these offers (not all) are scams and one must be careful before they sign up or share any data. FaucetĪ reward system on a website or app that offers free cryptocurrency for signing up or completing certain tasks. Smart contracts rely on data from oracles to perform actions. OracleĪ piece of code that takes data from multiple sources both inside and outside the blockchain, then verifies, analyses and feeds the results into a smart contract for further action. Smart contracts are self-executing digital contracts that allow some form of direct exchange between two people, without the need for a third party like a bank or real estate agent. Memecoins have no real-world utility and have value only because they are considered funny by many who buy them for this reason.Ī collection of verified and submitted transactions that are waiting to be confirmed by all computers in the network. MemecoinĪ cryptocurrency based on a joke. Some top DeFi projects include Aave, Fantom, Colony etc. DeFiĭeFi (Decentralised Finance) recreates financial services like insurance, loans & savings on Blockchain networks outside the control of banks, governments & companies The acronym “GM” typically stands for “Good Morning.” GM Wagmi is a project that takes inspiration from this greeting, having created a whole new token to spread positivity and make the crypto space a better place. ![]() The acronym is widely used by the crypto community to build confidence, and encourage the community to not lose hope. WAGMI stands for 'We are all gonna make it'. WGMI: stands for "We're Going to Make It" GMI: stands for "Going to Make It" YGMI: stands for "You're Going to Make It" Such coins distinguish themselves from Bitcoin by extending their capabilities and plugging their shortcomings. ![]() Short for Alternative Coin The term altcoin refers to cryptocurrencies other than Bitcoin (and sometimes also other than Ether). So in addition to this article I wrote about crypto terms, I will update it with more but you can as well consult it because it has other web 3 terms that I won't mention again today. You don't have to master all of them but having a concept is way much better. Wait, did I just use a lingo up there, yes I did! But we shall look at all these slangs and terms and you can call this your favourite slang crypto cheatsheet. My friend James used to be a bagholder, but he FOMO’ed and bought trillions of Sats, so now he’s a big whale HODL-ing for that moon. For all those interested in crypto trading, NFTs, Web 3 or related technologies, knowing and understanding the daily jargon and terms used in vocabulary is a must because of FOMO!
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |