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This is a pure beginner's science popularization article!!
When I first entered the cryptocurrency world, I was very confused because I started participating from the testnet, and the testnet was all in English. My English level was still at the level of 'come' and 'go', nodding 'yes' and shaking my head 'no', after all, these were not needed for delivering packages.
Moreover, I discovered something: in tweets on X, some vocabulary is basically replaced with English. For someone who was a complete beginner before, it was simply a nightmare.
Because of these experiences, I整理了一下 the common vocabulary I had looked up before, hoping it could be of some help to the new friends entering the circle.
Layer 1: The basic layer of blockchain, such as the Ethereum chain.
Layer 2: Blockchain based on the network layer, like the familiar Ethereum Layer 2: Base
arb op
DApp: Decentralized applications on the chain, such as Uniswap, Jupiter, running on smart contracts.
DeFi: Decentralized financial services (such as lending and trading).
Gas Fee: Transaction fee on the blockchain.
CEX: Centralized exchanges, custodial funds like Binance, okx.
DEX: Decentralized exchanges, based on smart contracts (like Uniswap).
LP: Liquidity pool in DEX, where users deposit tokens for others to trade and earn transaction fee rewards.
HODL: Holding onto coins regardless of price fluctuations, holding long-term.
FOMO: Fear of missing out on a chance to get rich, impulsively jumping in to buy.
FUD: Bad news or panic in the market, scaring everyone into wanting to sell and exit.
Wallet: A wallet for storing cryptocurrencies.
Private Key: Private key, the password to access assets.
Mnemonic Phrase: 12-24 words to recover a wallet.
Rug: The project team runs away with the money, causing the coin price to crash.
Airdrop: Airdrop, something that people like me are waiting for.
Staking: Locking tokens to participate in validation and earn rewards.
That's all I can think of for now; I will add more later.
Learning is endless, and the road of learning is long and difficult.
Gradually accumulate knowledge and strive to improve one's understanding.
After all, everyone says how much money one can earn comes from one's own understanding.
When I first entered the cryptocurrency world, I was very confused because I started participating from the testnet, and the testnet was all in English. My English level was still at the level of 'come' and 'go', nodding 'yes' and shaking my head 'no', after all, these were not needed for delivering packages.
Moreover, I discovered something: in tweets on X, some vocabulary is basically replaced with English. For someone who was a complete beginner before, it was simply a nightmare.
Because of these experiences, I整理了一下 the common vocabulary I had looked up before, hoping it could be of some help to the new friends entering the circle.
Layer 1: The basic layer of blockchain, such as the Ethereum chain.
Layer 2: Blockchain based on the network layer, like the familiar Ethereum Layer 2: Base
arb op
DApp: Decentralized applications on the chain, such as Uniswap, Jupiter, running on smart contracts.
DeFi: Decentralized financial services (such as lending and trading).
Gas Fee: Transaction fee on the blockchain.
CEX: Centralized exchanges, custodial funds like Binance, okx.
DEX: Decentralized exchanges, based on smart contracts (like Uniswap).
LP: Liquidity pool in DEX, where users deposit tokens for others to trade and earn transaction fee rewards.
HODL: Holding onto coins regardless of price fluctuations, holding long-term.
FOMO: Fear of missing out on a chance to get rich, impulsively jumping in to buy.
FUD: Bad news or panic in the market, scaring everyone into wanting to sell and exit.
Wallet: A wallet for storing cryptocurrencies.
Private Key: Private key, the password to access assets.
Mnemonic Phrase: 12-24 words to recover a wallet.
Rug: The project team runs away with the money, causing the coin price to crash.
Airdrop: Airdrop, something that people like me are waiting for.
Staking: Locking tokens to participate in validation and earn rewards.
That's all I can think of for now; I will add more later.
Learning is endless, and the road of learning is long and difficult.
Gradually accumulate knowledge and strive to improve one's understanding.
After all, everyone says how much money one can earn comes from one's own understanding.
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