1. Technology-related terms

  • dApp (decentralized application): An application that runs on blockchain technology without the need for a central server.

  • Layer 1: Base layer blockchain protocols such as Bitcoin and Ethereum.

  • Smart Contract: An automated agreement executed on a blockchain that ensures the terms of a contract are enforced.

  • Layer 2: Scaling solutions designed to improve the performance and scalability of Layer 1 blockchains, such as the Lightning Network.

  • Cross-chain: refers to the interaction of data and assets between different blockchain networks.

2. Transaction-related terms

  • HODL: Derived from the misspelling of “hold”, it refers to holding crypto assets for the long term, regardless of market fluctuations.

  • Whale: An individual or entity that holds a large amount of cryptocurrency and is able to influence market prices.

  • FOMO (Fear of Missing Out): The psychological rush to enter the market due to the fear of missing out on investment opportunities.

  • Pump and Dump: Artificially raising the price of an asset (pump) and then quickly selling it (dump) for a profit.

  • Gas Fee:The transaction fee paid when conducting transactions on blockchains such as Ethereum.
    Decentralized Finance (DeFi) Terminology

  • Yield Farming: The act of earning returns by providing liquidity.

  • Liquidity Pool (LP): A pool of funds deposited by users for decentralized trading and lending.

  • TVL (Total Value Locked): The total value of assets locked in the DeFi protocol.

  • Staking: Locking cryptocurrency into a network to support its operation and earn rewards.

  • APR/APY: Annual Percentage Rate and Annual Percentage Yield, commonly used to describe the rate of return on yield farming or staking.

3. Non-fungible token (NFT) terminology

  • Minting: Creating a new NFT and publishing it to the blockchain.

  • Floor Price: The lowest selling price in the NFT market.

  • Gas War: During periods of high-demand NFT minting, users compete to pay higher gas fees to ensure their transactions go through.

  • Rarity: How rare an NFT is within a particular set, which generally affects its value.

  • Metaverse: A virtual space that combines virtual reality, augmented reality, and blockchain technology.

IV. Other common terms

  • DAO (Decentralized Autonomous Organization): An autonomous organization managed by smart contracts, where members participate in decision-making through token voting.

  • KYC (Know Your Customer): The process used by crypto exchanges and projects to verify the identity of users.

  • Airdrop: The project distributes tokens to community members or specific user groups for free.

  • Rug Pull: A scam in which a project owner suddenly exits and takes away all funds.

  • DYOR (Do Your Own Research): Encourage investors to do their own research and not blindly follow the advice of others.

  • Alt: Refers to all cryptocurrencies other than Bitcoin (BTC).

  • Ethereum (ETH): Often used to discuss developments within the Ethereum project and ecosystem.

  • “To the moon!”: Many investors express their optimism about the long-term value of crypto assets.

  • Fundamental analysis: A method of evaluating the value of a cryptocurrency by studying basic factors such as a project's technology, team, market demand, and community activity. It is generally used for investment decisions, especially in the long term.

  • Primary market: refers to the market for newly issued cryptocurrencies or tokens, which are usually raised through ICO (Initial Coin Offering) and IEO (Initial Exchange Offering).

  • Secondary market: refers to the trading market for issued cryptocurrencies or tokens, such as exchanges (Binance, Coinbase, etc.).

  • KOL (Key Opinion Leader): An influential individual or organization in the cryptocurrency field whose opinions and suggestions have a significant impact on the community.

  • BD (Business Development): Responsible for establishing and maintaining business relationships and promoting business growth of projects.

  • DM (Direct Message): A private message sent on a social media platform (such as Twitter, Telegram).

  • Diamond Hands: refers to investors who firmly hold cryptocurrencies during market fluctuations and do not sell them easily.

  • 100x: refers to the investment return rate reaching 100 times, that is, the investment amount increases 100 times. Similar ones include: 1x, 5x, 10x, etc.

  • Scam: refers to the behavior of some users or studios obtaining cryptocurrencies and tokens by participating in airdrops and other free distribution activities.

  • The "beggar gang" refers to those who don't do their homework, don't want to learn, and just hope others will give them the code to wealth, and then curse when they lose money or sell everything.

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