Below is a glossary of crypto lingo we have covered that you can refer to as a quick cheat sheet.
Hodl – is a term derived from a misspelling of “hold” that refers to buy-and-hold strategies in the context of bitcoin and other cryptocurrencies.
Blockchain – is a growing list of records, called blocks, that are linked together using cryptography.
Protocol – are the rules that a block chain follows to function.
Wallet – a place where people hold onto cryptocurrencies and use to transact both in sending and receiving crypto.
Hot Wallet – a wallet that is connected to the internet.
Cold Wallet – a wallet that is not connected to the internet.
Centralized – a third party that controls all aspects of something. Usually it refers to a blockchain, wallet, or exchange in the crypto world.
Decentralized – this means that no one party controls all aspects of something. Usually it refers to a blockchain, wallet, or exchange in the crypto world.
Decentralized Finance (DeFi) – This is putting traditional financial services like exchanges, payments, banking, and lending on the blockchain.
Decentralized Autonomous Organization (DAO) – An entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain.
Metaverse – is a hypothesized iteration of the Internet, supporting persistent online 3-D virtual environments through conventional personal computing, as well as virtual and augmented reality headsets. The blockchain can be the infrastructure, payment system, and rewards for this online world.