Glossary of Terms

  • Blockchain: A decentralized, distributed ledger that is used to record transactions and track ownership of assets.
  • Cryptocurrency: A digital asset that uses cryptography to secure its transactions and to control the creation of new units.
  • Decentralized Finance (DeFi): A financial system that is built on blockchain technology and operates without a central authority.
  • Ethereum: A blockchain-based platform that enables the creation of smart contracts and other decentralized applications.
  • NFT (Non-Fungible Token): A unique, non-duplicable digital asset that is stored on the blockchain.
  • Smart Contract: A self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code.
  • Wallet: A digital app or physical device that is used to store and manage cryptocurrencies and other digital assets.