Acronyms
ICO
What is an initial coin offering?
Shilling
advertising a crypto currency, especially if you have a vested interest in it
Block
packages of data that carry permanently recorded data on the blockchain
Proof of Work
the OG Consensus algorithm employed by Bitcoin
Satoshi Nakomoto
creator of Bitcoin
HODL
What is "the philosophy of holding your investments, no matter what crazy sh*t happens, originally a typo"?
Whale
someone who owns an absurd amount of a certain crypto (enough to influence its price)
Hash
the function that confirms coin transactions, also used to refer to mining power
Oracle
the device that serves as a bridge between the real world and the digital world by providing data to the smart contracts.
game about breeding cats on the blockchain that introduced non-fungible tokens
CryptoKitties
BUIDL
What is "a play on HODL, the act of developing Web 3.0"?
Lambo
Lamborghini, as in one you bought with your crypto earnings to display your new wealth
Node
A computer that possesses a copy of the blockchain and allows its owner to self-validate it
Proof of Stake
experimental consensus algorithm where you bet your tokens on the validity of the chain
the fee paid to miners to incentivize them to complete your transaction
Gas price
FOMO
Fear of Missing Out
Pump and Dump
almost entirely fraudulent schemes to boost the price of an altcoin and get noobs to buy at crazy prices before a crash
Sharding:
a scaling solution where individual nodes possess only part of the blockchain
Consensus Algorithm
How all of the nodes in a distributed computing system agree on the information that gets added to the system.
a measurement of processing power on the Ethereum Virtual Machine (EVM) required for a transaction on Ethereum
Gas
FUD
Fear, Uncertainty, and Doubt
Mooning
a token price shooting up astronomically
Mining
the act of validating transactions and minting new coins
Smart Contract
self-executing contract, allowing you to “send money from A to B, on the condition that C happens.”
decentralized application built on ethereum
Dapp