3. CRYPTOCURRENCY - a blockchain-based token that can serve as a store of value or medium of exchange.
Cryptocurrencies generally gain adoption due to the perception of their security, privacy, usability, or future value.
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4. CRYPTOECONOMICS - paradigm frequently used in the design of blockchain systems, combining game theory, economic incentives, & cryptographic security.
Allows participants to coordinate around shared missions without trust.
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5. CRYPTOGRAPHY - field in math and computer science that designs secure communications & storage by encrypting data so it's accessible only to authorized users.
Cryptographic techniques help make blockchain tech possible.
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6. DAO or decentralized autonomous organization - a new kind of organization that runs as code on the blockchain.
They're owned & run by members with tokens that give decision-making and/or economic rights in the organization.
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7. DAPP or decentralized app - user facing software that relies on interactions with smart contracts on a blockchain.
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8. DECENTRALIZATION - a widely used concept in web3.
It refers to replacing systems under a single entity's control with systems that distribute control among their participants.
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9. DECENTRALIZED ENERGY - energy that is generated off the main grid and produced close to where it will be used.
It can reduce the transmission and distribution inefficiencies and related economic and environmental costs.
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10. DECENTRALIZED IDENTITY - identity systems on public blockchains that allow individuals to manage their identity-related information.
You can create identifiers & claim attestations w/o service providers or governments.
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11. DEFI or decentralized finance - financial instruments and software using smart contracts on blockchains.
These include products for lending, earning interest, stable currencies, value transfer, and more.
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12. DIGITAL REAL ESTATE - properties or spaces in a virtual world.
Examples are a plot of land in the metaverse, a shop selling items of value in online gaming worlds, or a specialized conference room in a virtual workplace.
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13. METAVERSE - collective virtual shared space, created by the convergence of virtually enhanced physical and digital reality.
Its economy is enabled by digital currencies and non-fungible tokens (NFTs).
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14. NETWORK STATE - a highly aligned online community with a capacity for collective action.
It crowdfunds territory around the world and eventually gains diplomatic recognition from pre-existing states.
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15. NFT or non-fungible token - blockchain-based tokens that are one-of-a-kind, unlike cryptocurrency tokens that are interchangeable.
NFTs can demonstrate ownership of artworks, digital assets, community membership and more.
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16. NON-TRANSFERABLE or SOULBOUND TOKENS - tokens representing a person’s identity using blockchain technology.
This could include medical records, work history, and any type of information that makes up a person or entity.
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17. ORACLES - systems that allow smart contracts to interact with the world outside their blockchain.
An oracle might confirm that a certain news event occurred, or that a certain transaction on another blockchain was completed.
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18. PEER-TO-PEER - a type of network made up of nodes that connect to each other as equals.
Contrast this with the client-server structure of most websites and platforms, where the server holds privileges that client users lack.
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19. PROOF OF STAKE - method for adding data to a blockchain that requires validator computers to "stake" tokens in order to participate in agreeing on which new data to accept and in what order.
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20. PROTOCOLS - rules for how computers interact with each other on a shared network.
Protocols enable the internet (TCP/IP) and the web (HTTP).
Blockchain networks like Bitcoin and Ethereum are also defined by protocols.
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21. PUBLIC & PRIVATE KEYS - strings of characters that form the basis of cryptographic systems.
Any given address on a blockchain can be accessed only with both the public key (like a username) and private key (like a password).
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22. PUBLIC GOODS - in web3, it refers to software infrastructure that many parties rely on but no one party owns or has sufficient incentive to develop.
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23. QUADRATIC FUNDING - model of funding public goods that democratizes philanthropy.
Funds meant to benefit the public go towards projects that really benefit a broad public.
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24. SMART CONTRACTS - pieces of software designed to run on computational blockchains like Ethereum.
A contract might carry out tasks like issuing tokens, enabling complex transactions, and prescribing a governance system.
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26. TOKENS - units of value that can be defined according to a given protocol, or a smart contract on a blockchain.
Tokens can behave like currency, shares of stock, or a deed of ownership—all depending on how they are designed.
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27. VALIDATORS - users in a network using proof of stake who receive tokens for validating transactions & adding blocks to the blockchain.
They "stake" tokens on the network, which can be lost if they fail to perform properly.
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28. ZERO-KNOWLEDGE PROOFS - a type of cryptographic technique that protects a user's privacy.
It enables someone to prove that they have certain information without providing that information itself.
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