Glossary

Blockchain, cryptocurrency, tokens, NFTs… these are some of the most searched key terms in the fintech industry today, mainly because these crypto terms are current and “new,” and to some, they may seem overly complex.

If you’re interested in DeFi or TradFi you’ll stumble across one or more of these terms to know, which is why we thought we’d share a comprehensive glossary to make these concepts simple and digestible.

This glossary will bring you up to speed with all the relevant DeFi and TradFi terms to know – all geared towards bolstering the understanding and widespread application of all of these concepts within the industry and beyond. 

Bookmark this page for future reference, and don’t forget to refer back to it –We will be updating it often.



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Token Lockup

The time span in which a set of tokens or coins are not allowed to be traded or transferred. Also known as a vesting period.

Token Sale

The issuance of tokens in exchange for another cryptocurrency.

Tokenised stock

Digital assets that mimic the price action of publicly traded stocks. These tokens allow cryptocurrency traders to gain exposure to the price action of stocks without leaving the crypto ecosystem.

Tokenomics

“Tokenomics” has become a popular term in the last few years to describe the math and incentives governing crypto assets as well as distribution startegy. It includes everything about the mechanics of how the asset works, as well as the psychological or behavioral forces that could affect its value long term.

Total Supply

The number of coins or tokens that currently exist in circulation or some form of lockup.

Transaction ID (TXID)

A unique string of characters that defines a specific transaction that takes place on a blockchain network.

Transactions Per Second (TPS)

The number of transactions a blockchain network is capable of processing in one second.

Trustless

A system where no single entity has control or authority of the system and where consensus is achieved between participants who do not have to trust each other.

Turing Complete

A machine that can solve any computational problem, no matter the complexity, given enough time, memory and the proper instructions.

Uniswap

Uniswap is a popular cryptocurrency exchange which uses a decentralized network protocol. Uniswap is also the name of the company that initially built the Uniswap protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.

Unit of Account

One of the primary properties of money that allows for measurement and the comparison of value between different things.

Unspent Transaction Output (UTXO)

An output created during a transaction that must be referenced in a future transaction in order to spend funds.

User Interface (UI)

The interface where human to computer interaction and communication with a device occurs.

Validator

A person/group (actor) who is responsible for validating/verifying transactions on a blockchain.

Validator Node

A blockchain node owned and operated by a validator that is responsible for producing and/or validating blocks on a blockchain network.

Verification Code

A code that is sent to a second device as a way to ensure the identity of someone logging into an account. Used in Two-Factor Authentication.

Virtual Machine

A computer resource or system that uses software instead of a physical computer to run programs and deploy applications.

Volatility

How rapidly and with what magnitude the price of an asset changes.

Volume

A measure of how many individual units of a given financial asset have traded during a given period of time.

Wallet

In the blockchain industry, a cryptocurrency wallet is a device, physical medium, program or a service which stores the public and/or private keys
for cryptocurrency transactions.

WalletConnect

WalletConnect is an open source protocol for connecting decentralized applications to cryptocurrency wallets with QR code scanning or deep linking.

Weak Hands

Slang term referring to traders or investors who lack the confidence or ability to hold onto an asset or follow their trading plan.

Web 1.0

The first iteration of the web where data was primarily read-only pages connected with hyperlinks.

Web3

An idea for a new iteration of the World Wide Web based on blockchain technology, which incorporates concepts such as decentralization and token-based economics.

WebApp

A application software that runs on a web server, unlike computer-based software programs that are run locally on the operating system of the device. Web applications are accessed by the user through a web browser with an active network connection.

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