One of the biggest barriers in learning any new vocation or hobby is the jargon that natives to the space use to communicate with each-other, it helps save them time and grants the ability to communicate complex topics in short order but this comes at the expense of a new user’s ease of entry into the community.
Whilst immersion in our voice-chats is one of the fastest ways to learn through context the definitions of the majority of this new vocabulary, it is always helpful and may help build confidence to have a glossary to refer to. What follows is such a Crypto glossary with a specific focus towards the vocabulary often used within Discord and Twitter communities.
Click the letters in the index to be taken to that section.
#1 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Pronounced ONE-oh-ONE is a slang term for the most basic knowledge in some subject, as in “boiling potatoes is cooking 101”
Two Factor Authentication – A form of multi-factor authentication that uses 2 pieces of evidence (factors) to authenticate identity and gain access to accounts. Receiving a code via email or text message after inputting a password is an example of 2FA. A more secure method of 2FA is accomplished by downloading an app such as Microsoft Authenticator or using a physical 2FA token like a Yubikey.
A project that has a total supply quantity of 10,000 items. Some argue that this quantity was pioneered by the CryptoPunks collection. This became a very common supply level during the Q4 2021 NFT Bull-run. Considered by some at this point to be an over-sized token supply that only very strong projects will successfully drive sufficient demand for.
Malicious actor (or group acting in concert), controlling over 50% of the total mining power of the blockchain network and disrupting the integrity of the blockchain through consensus dominance.
AB stands for Art Blocks, the leading marketplace or platform for buying and selling NFTs that fall into the “generative art” category
is an acronym for Application Binary Interface, and it is an interface between two binary program modules at the level of machine code, not source code. Blocknative can monitor smart contract ABIs in real-time.
Refers to the blockchain wallet address used to receive funds or acting as a personal (account) identifier in web 3.0.
Advertising technology (AdTech)
An umbrella term describing the tools that brands, agencies, publishers and platforms use to target, measure and analyze digital advertising efforts.
Artificial Intelligence. Machines’ ability to simulate human intelligence through their programming.
The act of a token being placed in a wallet without any interaction from the wallet owner at the point of acceptance. Often used a reward or marketing campaign for previous blockchain participation in new or growing services. Air-drop farming is the technique of maximizing your reward either through multiple accounts or multiple participatory actions.
Actionable, timely and sometimes rare information intended to result in eventual profit or other benefit. CC attempts to generate high quality alpha for its members. Some NFT projects promise access to community privileged alpha as part of their marketing campaign.
Alternative Coin – Originally used to describe any coin that was not bitcoin, now more commonly used to describe coins outside of the top 5 in market cap that are not stable-coins.
Ask Me Anything – Often a semi-formal, occasionally formal question and answers session with a project’s team. Often consisting of a 30 to 120 minute interview followed by a Q & A session where anyone may pose queries they have about a project’s team or road-map/goals.
API is an acronym for Application Programming Interface which is an interface between computers or programs that allows information to pass between them. All of Blocknative’s mempool monitoring functionality is available via APIs.
Anti-Money Laundering/Combating the Financing of Terrorism Measures to prevent criminals and terrorists from abusing the financial system.
Anon is the abbreviation of the word anonymous. This term is generally used to address an audience on the web, which is often anonymous.
When a trader interacts, often with a large portion of their portfolio, without conducting appropriate research and consideration; often due to the energy or sentiment of their peers.
Annual Percentage Yield – The calculated rate of return earned on an investment, taking into account the impact of compounding interest. (1+r/n)n – 1, where r = period rate and n = number of compounding periods.
Augmented Reality. Enhancement of the real physical world aided by the
use of technological devices to create an interactive
The act of exploiting the difference in prices for the same or paired assets in different markets to exact a profit by purchasing or selling in one place and doing the reverse in another.
Arbitrum is an Ethereum layer 2 scaling solution that reduces fees and network congestion by computing transactions outside of the Ethereum Mainnet. Arbitrum’s rollups use multi-round fraud proofs to verify contracts were executed correctly. Blocknative currently does not support the Arbitrum L2 blockchain.
An archival node is a full node in the blockchain that keeps a complete history of transactions and address state changes since the genesis block. Blocknative enables users to see archival mempool information on public blockchain networks.
Alternative Reality Game – A time sensitive puzzle or challenge based competition that often results in White-List allocations for a project or immediate prizes.
All Time High – The highest price an asset has achieved.
All Time Low – The lowest price an asset has achieved.
An icon or figure representing an individual in a virtual setting
A portion of someone’s portfolio. Normally with the implication of a large holding relative to their total funds in market.
Someone holding a significant allocation of a particular asset, most often used to describe someone holding an asset long after it’s ATH.
The base fee is an algorithmically determined fee that users on the Ethereum blockchain must pay to complete a transaction. The base fee is designed to help smooth transaction fees and prevent sudden spikes by targeting 50% full blocks. Depending on how full the new block is, the Base Fee is automatically increased (the block is more than 50% full) or decreased (the block is less than 50% full).
The acronym of Bored Ape Yacht Club, one of the most popular NFT collections on the market.
Binance Smart Chain
A blockchain network built for running smart, contract-based applications.
A form of digital currency that is recorded on a blockchain and is transferrable on a decentralized peer-to-peer network
A blockchain transaction “block” i.e. one consensus entry on an open-ledger system and the rate at which a block-chain communicates with the web 3.0 layer.
A distributed database or ledger comprised of “blocks,” which record transactions and are securely linked using cryptography
Block Gas Estimator Feed
The Block Gas Estimator Feed estimates gas prices for the next block based upon the in-flight transactions that are currently in the mempool (pre-chain transactions). With Blocknative’s Gas Platform, Dapp and wallet developers can integrate gas estimation feeds directly into their product.
A blue chip NFT is generally well-known, established, stable, and considered to be a good long-term investment. Blue chip NFTs are also thought to be a safer investment than most and have a proven track record of growth and value.
The route funds, tokens or information takes to traverse between different blockchains.
Is an acronym for “Buy The Fucking Dip”, in reference to a price drop. Often used ironically, this expression is usually intended to lighten the mood during difficult times in a market.
Bulletproofs are short, non-interactive zero-knowledge proofs that require no trusted setup. Bulletproofs can be used to convince a verifier that an encrypted plaintext is well-formed.
To discard, without possibility of retrieval a token or other crypto-asset.
Psychologically expecting prices to decrease.
Comes from the verb “to build”. Again, this expression is often used to make people laugh in a crisis. It refers to the developers or key players of a project, blockchain or NFT collection, by asking them to do something that could have a positive impact on the price.
Psychologically expecting prices to increase.
A burn is referring to the destruction of tokens, whether they are cryptocurrencies or NFTs, the purpose being, very often, to reduce the supply in circulation or to activate an original mechanism.
A cancel transaction is a type of replacement transaction where a user submits an identical transaction with a higher gas limit so it is mined before the previous transaction. Once the new replacement transaction is confirmed, the original transaction will get dropped. Blocknative’s mempool monitoring tools can track replacement transactions in real-time.
A fungible digital asset who’s transactions are handled by the blockchain. Ether is the native coin on the Ethereum block-chain. Also see Token.
A centralized cryptocurrency exchange (CEX), first to go public on Nasdaq. Acts as a fiat on and off ramp. Expected to launch an NFT marketplace in Q1 2022.
If used properly, the most secure way to hold a crypto-asset. Moving crypto assets to a long-term and secure storage solution with reduced, preferably no active web3 functionality; ie. a hardware wallet or paper wallet to more securely hold crypto-assets away from the risks of digital storage.
A collectible is simply a collector’s item, whether it is rare or not.
Collective bargaining agreements
Agreements between an employer and a union representing employees, such as SAG-AFTRA or AFofM.
A confirmed transaction is a transaction that has been included in a block and permanently added to the blockchain. Confirmed transactions are one of the core transaction status changes users can monitor with Blocknative’s mempool API across multiple blockchains and testnets.
The protection of the public from the risks that arise when purchasing goods and services. Consumer protection legislation governs the relationships
between individual consumers and businesses and covers areas such as product liability, privacy rights, fraud, misrepresentation and other unfair practices
A “Coping” mechanism – Used with varying sincerity to indicate that someone is showing defensive psychology to overcome a recent or long-term hardship. When used in a derogatory or less sincere fashion it is an ad-homonym attack to attempt to detract from the content of the argument.
An interconnection between separate blockchain networks that allows the exchange of value or information.
A software-facilitated economy that allows creators to earn revenue from their creations, mainly on social media platforms.
A cryptographically secured digital representation of value or contractual rights that uses some type of distributed ledger technology (DLT) and can
be transferred, stored or traded electronically. Cryptocurrencies, utility coins, security tokens and stablecoins are different types of crypto-assets.
A cryptocurrency that runs on top of another cryptocurrency’s native blockchain. Cryptocurrencies with their own blockchain are normally referred to as “crypto coins,” so this term has become a way to refer to cryptocurrencies other than Bitcoin or Ethereum.
The world of inter-computer communication; a real or virtual world of information in cyberspace
Crypto Twitter – The sub-sect of twitter users and influencers predominantly focused on the Crypto-sphere.
Decentralized Autonomous Organization – An organization with diluted or no central control in which members vote on decisions. This became a buzz word during the Q4 2021 NFT Bull-run; often misused, poorly executed or never truly fulfilling the intended meaning of the term.
Decentralized Applications – software deployed on the blockchain (most often the EVM or EVM compatible virtual machines) to carry out actions without intermediaries, sometimes without a singular hosting location which affords take-down resilience.
A Distributed Denial-Of-Service attack – When a single actor engages multiple systems in parallel to consume all available resources of a service, preventing genuine users from accessing it. Sometimes used incorrectly to discuss a service that becomes unreachable from genuine load.
Meme spelling of “Dead”.
Content resulting from the manipulation or generation of audio-visual media by AI, often a video or sound recording that replaces someone’s face or voice with that of someone else.
DEcentralized FInance – Financial activity without the involvement of an intermediary and often in it’s current state any without regulation or oversight.
Short form of “Degenerate”. Despite it’s common use definition; In the crypto-sphere this is a label most often used in a positive manner to describe any individual who is dedicating a significant portion of their day to trading activities and research in the space. Intended to draw attention to the reduction in free time, lowering adherence to outside responsibilities, lack of sleep and less frequently personal hygiene a deep level of dedication to the space sometimes generates in people when the depth of financial opportunity is first understood.
To remove an auction or “buy it now” listing of an owned token from a marketplace.
Dev do something
Often used ironically, the phrase “Devs do something” is a cry for help usually seen during a price drop.
DEX is an abbreviation for Decentralized Exchange. This type of crypto exchange enables users to transact in a direct peer-to-peer manner without any intermediary. The biggest DEX on Binance Smart Chain is Pancakeswap, which traders can monitor using Blocknative.
To hold an asset with strong conviction, often to be very unlikely to sell in the short or medium term. The opposite of paper-hands.
Digital representations of various virtual or real-world assets that can be owned and transferred virtually – examples include cryptocurrencies, stablecoins and NFTs.
Risk management strategy through a wide variety of investments with limited or no interconnected value basis. Thus reducing total portfolio exposure to a single tokens price fluctuations.
Distributed Ledger Technology (DLT) A digital system that enables the registration and validation of transactions on a decentralized network in multiple places simultaneously.
Digital Millennium Copyright Act A U.S. copyright law that implements two 1996 treaties of the World Intellectual Property Organization (WIPO)
To expose someone’s identity or personal information without prior consent. Normally a malicious act with the intent to cause fear or actual harm. “Doxxing” is completely forbidden within CC and will result in a no warning ban and your information being passed on to authorities.
A drop can refer to a sudden drop in price, but is more commonly used to refer to the sale of a particular coin or NFT collection.
A dropped transaction is a transaction that was not mined and confirmed on the blockchain, and subsequently has been dropped from the transaction queue in the mempool. Common causes of dropped transactions include a low nonce value, high nonce value, and insufficient gas. Blocknative’s Notify API and Mempool API offers traders visibility into dropped transactions on multiple blockchains.
To dump is the act of selling a cryptocurrency or NFT without a second thought. Often used in the expression “Pump and Dump”, this term refers to the unscrupulous sales of influencers who have temporarily inflated the price of one of their assets.
A sales model that uses a declining price format, wherein the initial price of an NFT is lowered by a fixed amount periodically throughout a set time window. Buyers have the opportunity to purchase at any price step-point throughout the Dutch Auction window. Intended to reduce the chance of a gas war.
Do Your Own Research – A qualifier used by people to encourage others not to blindly follow their advice so that any personal loss incurred is the result of information gained from a primary source rather than the person speaking. Often an attempt to mitigate reproach or blame should any predictive information not be accurate.
Ethereum Improvement Proposal – New technical standards that specify potential new features for Ethereum. Upgrades to the network and application standards for Ethereum are developed via the EIP process. Once mature, these may become accepted as ERC’s.
Elliot wave theory
Proposed by Ralph Nelson Elliott – A form of technical analysis that looks for recurrent long-term price patterns related to persistent changes in investor sentiment and psychology through cyclical human behavior.
Refers to the schedule with which new coins or tokens are added to the existing supply.
Method by which information is turned into obfuscated code for the purpose of security.
Is the acronym for Ethereum Name Service which is a domain name service on the Ethereum network that allows a unique nickname to be used for each public address.
An EOA transaction is a transaction between one or more externally owned accounts (EOA, or an individual user in the Ethereum network). EOA transactions do not include transactions between smart contracts (internal transactions). Blocknative’s APIs enable users to monitor externally owned accounts and the transactions being submitted by them.
Ethereum Request for Comment – Technical standards that define a new set of adopted specifications for the Ethereum ecosystem. Elevated from EIP’s after approval from the Ethereum Committee and finalised into a new submission to the programming standard.
A standard for fungible tokens on the Ethereum blockchain. Setting the common list of rules that tokens on the EVM should adhere to. Intended to allow store of value coins to be sent and received over the Ethereum blockchain using gas to fund the transfer fee.
A standard for NFTs (Non Fungible Tokens) on the Ethereum blockchain. Partially defined with compliance to ERC-20 which allows for existing wallets to display some simple information about the token.
Similar to ERC-721, but adding several new advantages. Can also be used to mint semi-fungible tokens: an NFT that could have more than 1 identical copy. Allows for a single contract to represent multiple tokens at the same time. With certain operations permitted to batch it makes transactions easier to manager and lighter in gas weight, leading to cheaper gas fees.
The transactional token that facilitates activity on the Ethereum network and is similar in operation to cryptocurrencies, such as Bitcoin, but includes
A decentralized platform powered by blockchain technology, most commonly known for its native token, Ether (ETH).
Ethereum 2.0 is a deprecated term that was used to describe the consensus layer of Ethereum as part of it’s migration from a Proof-of-Work consensus mechanism to Proof-of-Stake consensus. Additionally, Eth1 is now referred to as the “execution layer.”
EU Financial Supervisory Law
A framework according to which a multilayered system of EU prudential authorities monitors systemic risks and aims to ensure consistent and coherent financial supervision in the EU
A tool to help investors understand whether an economic activity is environmentally sustainable and meets international standards and policy
Ethereum Virtual Machine – A decentralised computational platform that acts as a virtual machine whilst isolated from the end-users other processes, network and file system. The EVM allows smart contracts to be processed and DApps to be hosted on the Ethereum blockchain.
A digital marketplace where you can buy, sell or trade cryptocurrency or other digital assets. Exchanges can be centralized or decentralized.
Within Crypto, Exit Liquidity refers to the late-stage market actors that provide capital to those holding a token or asset to sell into when “exiting” a project and liquidating their holdings. Sometimes used in a derragtory fashion to indicate uninformed actors that are simply providing the money for others to escape a sinking ship.
A failed transaction is a transaction on the Ethereum blockchain that does not succeed, cannot be reversed, canceled, or refunded. Blocknative’s mempool monitoring API allows developers to monitor failed transactions on Ethereum, Ethereum testnest, Polygon, Binance Smart Chain, and xDAI.
Under U.S. copyright law, an exception that permits limited use of copyright-protected material without requiring permission from the rights holder.
Financial Action Task Force An intergovernmental organization combating money laundering and terrorism financing.
Fat finger refers to an action made by mistake. It is often the result of a wrong sale price, resulting in a loss.
Derived from Latin – Legal tender that is issued and backed by nation state authority alone with no underlying physical asset. ie. the US dollar.
Most modern paper currencies fall under this definition.
A real or virtual document that can be created, modified, purchased, traded or settled for, representing a legal agreement involving any kind of monetary value.
Professional services involving the investment, lending and management of money and other assets
A flip is a quick switch from a buying perspective to a selling one. “Flipping NFTs” means selling NFTs quickly, looking to take profits.
A theorized event in which the total market cap of Ethereum exceeds that of Bitcoin.
The lowest price a non-fungible token collection is selling for on the secondary market. Typically perceived as the first major clustering of price sentiment rather than outliers from people desperate to sell “below floor”.
Fear Of Missing Out – The emotional state of an investor that wants to participate in market activity to catch an upward price action that has already begun without due diligence or detailed consideration. Most often the result of peer conversation or chart activity alone.
Forge can mean “to forge” or “to counterfeit”. In the world of NFTs, a new NFT can sometimes be forged using different mechanisms.
When a blockchain or project splits into two separate versions, normally lead by different project co-coordinators.
Concept that a physical or digital asset can be broken up into equal parts and sold as tokens that would command a “fractional” ownership of the main asset.
The ability to divide a blockchain token into smaller
fractions, enabling it to be owned by different people.
Fair, Reasonable And NonDiscriminatory, terms A voluntary licensing commitment that standards organizations often request from the owner of an intellectual property right (usually a patent) that is, or may become, essential to practice a technical standard
Meme spelling of “friend”. Normally used with genuine affection.
Free mint NFTs are all the rage lately. In opposition to standard NFT drops where a collector must pay a set (or changing) price, plus a gas fee in order to create and purchase an NFT, free-to-mint collections offer a way for enthusiasts to mint an NFT at little to no cost
Executing a trade before someone else usually while having knowledge of what the other person is willing to pay. In traditional stocks this is illegal and classified as insider trading, however, in crypto information is publicly available on the blockchain in the “meme pool” before it is codified onto the chain.
Fear, Uncertainty and Doubt – Propaganda intended to lower prices by disseminating negative and often false information that evokes fear in the reader.
A full node is any computer or server that downloads the entire Ethereum blockchain, address states, and validates new blocks. Miners are a common example of servers that run full nodes on the Ethereum network. Blocknative runs an extensive network of nodes and gives users access to our network so they don’t have to worry about maintaining and running a node themselves.
Within cryptocurrency; used to discuss whether or not a token is interchangeable, with another mutually identical token.
A game finance platform servicing blockchain games, investors and traders.
The cost to perform an interaction with the blockchain or EVM, paid in a chains native token. Ethereum has a reputation for high Gas costs in its current version.
The gas limit is the maximum amount of gas miners are authorized to consume to complete a transaction. Blocknative’s gas estimator tool and Ethereum gas estimation extension can help builders and traders optimize setting gas limits.
During periods of high load due to strong market activity, priority is given to users willing to pay more than anyone else to be included in the next block. As a result a bidding war begins to have a time sensitive transaction performed to gain transaction success. Most often seen during highly competitive mint events where users effectively out bid each-other on a limited supply of tokens.
General Data Protection Regulation
The primary piece of legislation relating to
data protection and privacy in the EU and also
implemented in the UK. It came into force in May 2018
i. A reference to the idiom a diamond in the rough; a project or piece of alpha which the provider believes has a high level of probability of generating profit or future utility.
ii. The Gem.xyz Market place
In NFTs; generative production refers to the automatically created product of a set of traits that have been randomized to provide a unique outcome.
Genesis is the first of something. In Web3, this often refers to the first NFTs in a collection or the first NFT collection of an artist.
German Financial Supervisory Law
A framework according to which the operations of
banks and financial service providers are supervised
in Germany, and which covers aspects such as
whether those institutions have adequate capital
and liquidity and whether they have established
appropriate risk control mechanisms
Gunna Make It – A positive affirmation about the future financial success of a project or user.
Görli is a cross-client, community-based, proof-of-authority (PoA) Ethereum testnet where Web3 developers can test smart contracts in a sandbox. Blocknative’s suite of Ethereum testnet developer tools and APIs support tracking Görli transaction status changes, decode smart contracts, and replace and trace transactions.
The person, persons or organizational structure that retain decision making authority over a particular project or token. In a DAO – this would be the actively participating voting body.
Greater fool theory
Within crypto and finance, the greater fool theory relates to a paradigm that it is possible to make money, even if the asset of purchase drastically exceeds the intrinsic or pegged asset backing, by selling it on to another participant who sees even greater future price projections. In practical use – if you accurately determine a continuing demand for an asset, no matter your opinion of the intrinsic value, a profit potential can be realized.
Gwei a denomination of Ether used to measure gas. There are 1 Billion gwei in an Ether.
The moment in which the miner emission rewards for Proof of Work blockchain halve. Most often used in discussions regarding Bitcoin as this is an intrinsic part of it’s long-term liquidity design.
Normally considered a radical and sometimes aggressive change to a blockchain network protocol or ledger history that makes a new set of previously invalid blocks or transactions valid. Most often used when a contingent of miners or developers for a particular blockchain protocol grow frustrated with the limitations of the current protocol and force a hard update through consensus actions. In the best cases these are announced in good time, in the worst; a potential method of hijacking a protocol entirely.
A highly specialized storage medium that is ideal for securely storing the private keys of a wallet address. Best understood as an air-gapped computer that is capable of signing transactions through the use of a hardware security module that keeps the private key in encrypted storage and designed to be unextractable without the credentials used on the wallet itself. Widely considered to be the best of both worlds between a hot and cold wallet and the best way to secure your assets.
The product of an algorithm seeking to create a fixed-length and unique string to encrypt an arbitrary data source.
Head and houlders
Pattern that forms when an assets price rises to a peak and subsequently declines back to the base of the prior up-move. Said to indicate a bearish trend.
Meme spelling of HOLD. An investment strategy that requires the user to hold an asset through expected market volatility with the prediction of a future pricing event that will eventually result in a favourable outcome.
A hot wallet, as opposed to a cold wallet, is thus a hot crypto asset storage wallet. It is so named because it is online and therefore less secure than cold storage. A simple example of a hot wallet is a classic Metamask wallet.
Initial Coin Offering.
Initial Dex Offering.
Initial Exchange Offering
Similar to IDO, except that a project is launched on
a centralized exchange.
Initial Game Offering.
Loss not yet realised in a liquidity position due to high volatility in the trading pair that has pushed the price of assets out of range of the pool.
An increase in price or supply of a particular asset resulting in the devaluation of its class or the purchasing potential of it’s own or a paired token.
A person with the ability to influence potential buyers by promoting or recommending products or services on social media.
The process of importing data from a source to a target site for storage and analysis
Intangible property rights that are a result of intellectual effort. Intellectual property rights include patents, trademarks, designs and copyrights.
An internal transaction is a transaction between one smart contract and another smart contract. Internal transactions do not include EOA transactions which are transactions initiated or between one or more externally owned addresses (i.e. a user’s wallet). Blocknative’s transaction tracking tools allow developers to monitor and review these internal transactions in a cost-effective way.
The ability for different computer software systems to exchange information, communicate with one another and “understand” the information being transferred.
InterPlanetary File System – A distributed, peer-to-peer file hosting system that holds a significant quantity of NFT image data.
IRL stands for In Real Life. Often used by video game players or members of the Metaverse, it distinguishes a digital life from a “real” life.
Joy Of Missing Out – Rarely used antonym of FOMO. Not sharing the losses of those that FOMO’d into a project that ultimately resulted in a negative financial outcome.
Translates to LOL or laughter. A holdover from a once vastly popular MMO: World of warcraft. The game prevented players of opposing factions from understanding each other’s text chat through a garbling translation. KEK was the resulting translation of LOL when spoken from a horde character (Orcish) to an alliance character (Common).
Kovan is a Proof-of-Authority, publicly accessible Ethereum testnet. Blocknative offers users the ability to monitor pending, confirmed, and failed transactions, replacement transactions for speedups and cancels, trace transactions, and track reasons why transactions fail.
Know Your Customer – Regulatory capture requires centralised exchanges and trading platforms to verify the identity of their customers. Purportedly to combat money laundering.
Refers to Lamborghini – A premium sports car manufacturer. Used as slang for any aspirational asset that many crypto participants hope to acquire with their profit.
A hardware wallet made by the GridPlus company.
The foundational structure of the blockchain ecosystem, the physical hardware, protocols, and all required infrastructure required to run the primary validation and propagation structures of the network.
An extended set of protocols or network stacks that aim to improve functionality, responsiveness, resilience or scope of the base protocol blockchain network.
Used to discuss scaling solutions with specific attention to increased security, throughput capacity and responsiveness of the underlying blockchain that it is built upon.
i) An immutable record of transactions that once signed by the blockchain cannot be altered, only appended to. or
ii)A hardware wallet.
The use of debt in the form of borrowed capital obtained from a brokerage or exchange that allows for greater exposure (amplified gains and losses) to a market position than current capital alone allows.
Lets Fucking Go – Used as a celebratory expression during emotionally engaging discussions or in reaction to market action providing profit.
A light node is a computer that connects to full nodes as a gateway to the blockchain. Light nodes do not validate blocks and do not maintain the entire blockchain and address state. Blocknative’s mempool monitoring tools provide builders and traders mempool data from full nodes.
In practical terms, a larger pool of liquidity allows for greater volumes of the token to be exchanged without impacting the overall market price. Functionally this is funded either by project runners or people providing the liquidity in a pool with the aim of earning a portion of the fees associated with these transactions.
The act of listing something for sale on the open market.
In coins; the formal presentation of a new crypto-asset on a centralized, or decentralized exchange for the first time.
In NFTs; the act of placing an owned asset up for sale with a price structure and time limit for its purchase.
An asset purchase position with the expectation of selling it at a higher price for profit later.
expression used very frequently to refer to NFTs that look rare before being used for anything that might appeal to the other party.
Loopring is an Ethereum layer 2 non-custodial exchange protocol. It utilizes ZK-rollups for higher transaction throughput and lower gas fees on trades and payments.
LP stands for Liquidity Pool and is widely used in decentralised finance, but also in some innovative uses of NFTs.
A branch of AI and computer science that focuses on the use of data and algorithms to imitate the way that humans learn.
Total supply x Current Price. Total community investment in a coin or project.
Max Fee Per Gas
The Max Fee is the absolute maximum amount a user is willing to pay per unit of gas (gwei) to get a transaction included in a block. Blocknative’s Gas Platform API and Gas Estimator help developers and traders determine the minimum max fee required to probabilisticaly confirm a transaction in the next block.
Max Priority Fee
An ‘optional’ additional fee that is paid directly to miners, the Max Priority Fee incentivizes miners to include your transaction in a block. By monitoring mempool data, Blocknative users can accurately set their max priority fee to increase the chances that their transaction is confirmed as fast as possible.
A market participant with a large to total allocation of their portfolio, either in actual value or psychological investment for a particular project or token. Likely to advertise the project, sometimes in inappropriate situations to other potential investors with the hope of either sharing future profit or ensuring their own position increases in value.
A meme; a callous suggestion of a potential career path of market participants should they lose all of their liquid capital through a downturn, bank-run or crash.
A joke, image, video or other form of media, typically humorous in nature that is able to be spread rapidly between users of social platforms. Most often in-jokes and commentary on recent events.
A coin/token of literal intrinsic value other than it’s marketing effort (which in some cases is only the name of the token). Sometimes called a Shitcoin. These are VERY RISKY assets that have short lived but explosive profit potential.
Also known as the “transaction pool,” the “transaction queue,” or “pre-chain,” the mempool is a set of in-memory data structures propagated across Ethereum nodes that store pending transactions before they are mined. Blocknative is the leading provider of mempool APIs and blockchain developer tools for monitoring mempool data.
Mempool Explorer is a mempool monitoring tool built by Blocknative that enables builders and traders to observe what is happening in the transaction pool in real-time. Blocknative users can create data feeds for wallets or contract addresses, build custom notifications, and make better decisions before executing a smart contract.
A Merkle root is the single top hash of a Merkle tree. It verifies all transactions within a block.
A type of cryptographic function in which a set of interconnected results can be shared without exposing the private seed. Often used as a white-listing function in NFT projects to in affect password protect the minting function with a unique bit of data that the minter must use, specific to their address. First pioneered in NFTs by Thrasher, dev of the NeoTokyo Contract.
When discussing NFTs, metadata relates to data resolved or stored off-chain. Including but not limited to the image itself, which may alter the rarity and value of the asset in the long term. This can also include royalty quantities, ability to resale, name etc.
The most popular Ethereum chain web-browser based wallet. Supporting Edge, Chrome and Firefox. The vast majority of web 3.0 platforms that interact with any Ethereum virtual machine based chain support or request meta-mask to be installed on your browser. Generates wallets that can store, send and transact with EVM smart contracts. For further information, see setting-up-wallets
Derived from Gibson’s seminal Snow Crash novel as a portmanteau of “Meta” and “Universe”.
In Web3 the metaverse is conceived as the ambitious re-factoring of the internet into a single, universally connected and compatible platform of otherwise siloed user experiences each taking place in their own virtual world. Enriched with virtual or augmented reality environments the idealised aim is to create a single sign-on experience which allows the fluid transition from any siloed experience to another without transactional conversion.
Essentially a universal information fabric where any and all user data can be used in any and all worlds with ownership of assets maintained by the end-user who is free to traverse from world to world.
Often misused for marketing purposes to exaggerate use-cases of assets long before any scalable software or universal coding standards exist that would allow for such a system to be created.
MEV (Miner Extractable Value or Maximal Extractable Value), is the profit a miner can make by including, excluding, or re-ordering transactions in a block. Searchers use MEV tools like Flashbots and Blocknative to extract value from the transaction queue by identifying opportunities and submitting a package of transactions to miners to be executed.
Markets in Crypto-Assets Regulation
A proposed European regulatory framework, published by the European Commission in September 2020, that will apply to providers of crypto-asset services and issuers of crypto-assets.
An asset or token with a very small total market capitalization, which directly communicates the current wider market sentiment on the project through their monetary participation. These have better potential projections on possible growth but also higher exposure to collapse through potential lack of marketing.
Participants in the block-chain that provide hardware resources to take part in the mining process and thus provide the physical layer required for the ledger to run. In proof of work chains they race to compute arbitrary hashing functions to be rewarded with the permission to mint the next block and some “gas” as compensation for their energy and hardware resource cost. Their size and intent can range from hobbyists with one machine trying to support the network to professional mining firms that make deals with power-stations for favourable energy rates.
The process by which new coins are verified and enter into circulation. “Miners” attempt to solve a puzzle, known as the PoW, with the successful miner being rewarded with an amount of cyptocurrency.
A token generation event. In NFTs this is the act of obtaining the asset from the smart contract via a transaction on the block-chain. In NFTs trading this is the first price point for the asset available, the cost to mint may vary depending on white-list status as this is decided by the project runners.
A mnemonic sentence, phrase or seed phrase is a human friendly way of representing a very large randomly generated hash function. Most often used to store the private key to their wallet in both an obfuscated and memorable fashion. BIP-39
The act of making changes to software or hardware in
order to create own versions.
Price going up both to an extreme level and at an extreme pace.
A Multi Signature wallet requires the interaction of more than one private key to authorize any activity. Often a way of ensuring continuance of custody or democratization of on-chain activity; especially in a DAO.
Not Financial Advice – See also: DYOR. A qualifier used by someone providing information to suggest (in some cases demand) that the recipient must do their own work and research to assure their own financial security rather than just acting entirely on information that follows or proceeds this qualifier. All information obtained and discussed inside CC is to be considered NFA.
Non-Fungible Token – A cryptographic asset on a blockchain with unique identification so that it is distinguishable from other assets. Currently we often think of NFTs as pictures (jpeg) but they can be videos, music, really any form of information on the blockchain and can with little effort be utilized to identify or certify physical assets IRL.
Not Going to Make It – Often used in jest but sometimes with ill intent, a suggestion that due to lack of effort or knowledge a user will not unlock the financial success this space can sometimes provide.
A computer that is connected to other similar computers that follow a set of pre-agreed rules and share information using established protocols. A singular self-contained, highly redundant unit of computing power as part of decentralised computers such as the EVM. This is where the ledger is stored and where transactions are received, verified, and shared.
Number Once – A number that is used just once in an index to create a unique reference. For blockchain ledgers this ensures old hashes cannot be reused. For our purposes, esp. within Metamask you can think of it as your transaction number count and when viewed on chain it will have a timestamp to help categorize your transactions.
Original Gangster – Often used to identify members who are early to a project or organization.
OHM is the ticker symbol for Olympus which is a web 3.0 entity that is most known for its decentralized reserve currency DAO. As Olympus was the first to be wildly successful (at least initially) with this model it has been copied (or forked) over and over again so anything labeled as an “OHM Fork” will likely have a DAO type structure with an initially High APY% rebase model. It remains to be seen if this model is achievable as the continuance high emission of rewards has historically been hard to sustain.
Off chain / On chain
Off chain means outside the blockchain and conversely, on chain refers to something present directly on the blockchain. The few NFT collections that are stored directly on the blockchain are highly respected.
A network that is constructed on open standard, which means it can be developed by anyone and everyone and accessed by anyone and everyone.
Optimism is an Ethereum layer 2 scaling solution that utilizes optimistic rollups to improve the efficiency of Ethereum’s blockchain. Optimism’s rollups use single-round fraud proofs to verify the execution of contracts. Blocknative currently does not support the Optimism L2 blockchain.
Optimistic rollups are a category of Ethereum layer 2 scaling solutions. They process transactions on a separate blockchain and use fraud proofs to validate correctness. Blocknative currently does not support networks using optimistic rollups. Two examples of blockchains utilizing optimistic rollups are Optimism and Arbitrum.
Software that runs and connects multiple data sources so that decisions can be made automatically based on a predetermined set of rules or smart contracts. Oracles can be used to connect Web 3.0 blockchains and smart contracts with real world data/events which is how many DApps are able to function.
Over The Counter – The process of how securities (or crypto) is traded directly between counter-parties without a centralized exchange.
OS stands for OpenSea, the main platform for buying, selling and creating NFTs.
Play-to-Earn – A new type of gaming model, particularly on or related to blockchain gaming, whereby players have the opportunity to earn tokens that have a current, or expected future value by participating in the game’s ecosystem.
A decentralised network that relies upon a pool of independently managed hardware resources to perform distributed tasks and share the workload between a group of peers.
Refers, somewhat unkindly to an investor with a psychology profile prone to panic selling a coin, token or NFT too early or in the face of mild price reductions considered by others to be in-line with normal market volatility.
A recommended early investor practice wherein you make trades without investing real funds. There are many platforms that will let you trade with “fake” money which allows you to train yourself to spot trends, trade with conviction, familiarize yourself with the trading platform and learn markets without risking any of your funds.
An intellectual property right that permits the inventor to stop third parties from using an invention.
A policy by which the exchange rate of one currency (or token) is fixed, or “pegged”, to that of another. It should not be assumed that the peg is immune to slippage or a complete failure to maintain level pricing. Always look into the pegging mechanics of a coin claiming to have this status.
The pending pool is a group of transactions in the mempool that are ready to be processed. Blocknative’s mempool monitoring tools and real-time notifications give builders and traders access to this critical information, allowing them to make more informed decisions before transactions are confirmed on-chain.
Pending Simulation Transaction
A pending simulation transaction gives you access to all of the real-time mempool information of a pending transaction as if it were submitted on-chain. Blocknative’s ETH transaction simulation tools give developers the ability to track internal transactions, net balance changes, function calls, and other transaction details in a simulated environment. Blocknative currently supports transaction simulations for Ethereum’s mainnet.
Pending is a transaction status used to describe in-flight, pre-consensus transactions that are in the mempool and have not yet been confirmed on the blockchain. Blocknative’s core mempool monitoring tools provide developers with visibility into pending transactions.
An open network whereby nobody is denied access or the ability to verifythe network. Personal data defined in the GDPR and under other international privacy legislation to cover information relating to an identified or identifiable living individual – examples include: a name, an identification number, location data, or one or more factors relating to that person’s physical, physiological, genetic, mental, economic, cultural or social identity.
Profile Picture – References the image used in any of your social profiles. Sometimes NFT projects are called PFP projects when there is little utility beyond a picture to use in this way.
A scheme that promises large rewards to investors at a later date simply for investing their funds now. Rewards to early investors are paid by taking funds from later investors while leading everyone to believe the rewards are coming from profitable investments.
Proof-of-Stake – A blockchain consensus mechanism that requires validators to contribute, or “stake”, their crypto in exchange for a chance of getting to validate a new transaction, update the blockchain and earn a pre-determined amount of crypto as a reward.
Proof-of-Work – A blockchain consensus mechanism that rewards the huge amounts of processing power to secure the blockchain. Network participants compete in a virtual race to solve complex mathematical puzzles and the winner gets to update the blockchain with the most recent verified transactions and are rewarded with crypto – this process is often referred to as “mining”.
Pre-chain is another way to describe transactions that are currently in progress. Pre-chain transactions are also known as pre-consensus transactions, and are transactions that are currently in the mempool. Blocknative’s suite of mempool monitoring tools enables developers to track pre-chain transactions on multiple blockchains including Ethereum, Ethereum testnets, Polygon, xDAI, Bitcoin, and Binance Smart Chain.
Pre-consensus is another way to describe transactions that are currently in flight and not yet confirmed on the blockchain. Pre-consensus transactions are also known as pending transactions and pre-chain transactions. Blocknative’s suite of blockchain transaction monitoring APIs helps developers track pre-consensus transactions on multiple layer one blockchains, sidechains, layer 2 networks, and testnests.
An opportunity to buy an asset prior to the official public launch. there can be more than one “pre-sale” per offering so it is strongly suggested you understand the value of previous pre-sales before assuming an advantage over the general public.
In public key cryptography, a private key is the secret hash function used to determine custody of signature, and in crypto this infers ownership of a wallet, similar to a password. It is a randomly generated large number and is typically represented as a string of alphanumeric characters in hex. A Private Key is ultimately the pink-slip of the crypto world and knowledge of its content alone determines custody of the funds attached. NEVER unintentionally share this highly privileged information and avoid storing it digitally in any form other than within an encrypted container or password manager.
The process of selling an asset or service whereby
the deal is privately negotiated directly between the seller and buyer, without recourse to an auction process
Meme, said with sarcasm when someone discusses something they think you should be paying attention to.
A set of rules, or code, that enables data to be
shared between computers. It is used to govern
how blockchain technology functions – examples
include the Hyperledger, Corda, Quorum and
Push To Talk – A setting on voice chat aplications (like discord) that only allows for the transmission of your voice should a button be pushed (typically held down). This is as opposed to Voice Activation.
The process of selling an asset or service whereby
the asset or service is launched in the market and is made available to all customers for purchase.
Pump and dump
A highly fraudulent practise of knowingly encouraging other market participants to purchase crypto-assets (NFTs, Coins, etc.) with false news or hype with the aim of temporarily and artificially inflating the price so that the person encouraging this price increase can sell their own holdings while the value is high.
This is a no warnings bannable offense in CC.
Refer to one of the most iconic NFT collections: CryptoPunks. Owners of CryptoPunks NFT’s can also be called punks.
Similar to a Ponzi Scheme but one key difference is that a Pyramid Scheme often requires the investor to actively recruit others into the scam in order to make money.
Type of computation that harnesses the collective properties of quantum states, such as superposition, interference, and entanglement, to perform calculations. Within the cryptocurrency community there are concerns that the massive parallel processing capability of this type of computing may potentially open otherwise secure code and infrastructure to exploits and decryption.
The queued pool is a pool of transactions in the mempool that are not yet ready to be processed because they are ‘out of order.’ Blocknative’s pending transaction monitoring tools can be used to gain insights into transactions in the queued pool.
When circulating supply is adjusted by either decreasing (burning) or increasing (minting) tokens. Typically done to adjust token price without affecting the quantity of anyone’s share of tokens.
Slang for “wrecked” and is typically used when someone loses a lot or all of their money in a particular asset.
Replacement transactions include ‘Speed up’ and ‘Cancel’ transactions. Blocknative’s transaction monitoring tools provide replacement transaction support for Ethereum, all Ethereum testnets, and Polygon.
When minting NFTs they are often shown with a stock or cover image until they are revealed (by pushing an update to their metadata) to everyone and you can see the actual art of your NFT.
Right click save as
Meme – the joke that NFTs are worthless because anyone can “right click save as” on any of them and then they own the image. This comes from a lack of understanding as to why an NFT (or really any image/brand/logo) have value.
Rinkeby is a Proof-of-Authority testnet for Ethereum where smart contract developers can test code before deploying it to Ethereum’s mainnet. Blocknative’s suite of Rinkeby testnet developer tools and APIs enable blockchain engineering teams to track transactions across the transaction lifecycle, decode smart contracts, submit replacement transactions, and trace Rinkeby transactions
The forecasting and evaluation of financial risks together with the identification of procedures to avoid or minimize their impact.
A visual plan that a project creator lays out for investors to see what milestones the project will achieve and when they intend to achieve them.
Return on Investment. Your gains minus the initial investment, transaction costs (gas/fess), and taxes.
Given in Discord to organize a hierarchy by which additional content and opportunities can be distributed.
Ropsten is the primary Ethereum testnet (test network) where blockchain developers can test their smart contract code in a live setting without spending actual money. Blocknative’s suite of blockchain developer tools and APIs support tracking Ropsten transaction status changes, decoding Ropsten contract calls, replacing (e.g. speed up and cancel) Ropsten transactions, and tracing transactions.
Remote Procedure Call – API communication endpoints that enable networking within a blockchain. Metamask allows you to nominate Custom RPCs for each network.
Relative Strength Index – Momentum indicator that measures when assets are overbought & vice versa.
Abbreviation for Rugpull.
When a project creator takes everyone’s money and runs away – they pull the rug out from under the investors.
Screen Actors Guild – American Federation of Television and Radio Artists. A labor union representing actors, journalists, dancers, DJs, news writers, recording artists and singers in the United States.
The Sanbox is an online video game considered one of the leading Metaverse games today.
A sandwich attack is a form of crypto market manipulation prevalent within the DeFi ecosystem. It occurs when an attacker attempts to profit from an asset’s price volatility. The attacker will jump ahead of a victim’s large purchase order, which raises the price. They will then place a sell order following the confirmation of the victim’s order.
Short for Satoshis, the smallest unit of Bitcoin. One Satoshi is equal to 0.00000001 Bitcoins (one hundred millionth of a Bitcoin).
A method of verification in which “Satoshi,” the smallest unit of Bitcoin (0.00000001 BTC), is sent to the VASP to verify the transaction and wallet ownership.
To grow a network or protocol. Typically used to describe a network’s ability to add more user’s and process more transactions without degrading the user experience.
A Software Development Kit (SDK), also known as a devkit, is a collection of software tools and programs developers can use to quickly deploy an application in their development environment. Blocknative’s prechain monitoring tools are available to developers through a Mempool Explorer SDK.
Searchers are people who identify opportunities to extract value for miners, create executable packages of transactions, and submit them to miners. Blocknative offers searchers who use MEV platforms like Flashbots with MEV tools to monitor transactions, create custom notifications, and see what is happening in the transaction pool in real-time.
A market that allows buying and selling of assets from sources other than the creator. Opensea.io & Byt.io are “secondary” markets for NFTs.
Tokens deriving their value from other assets, both
physical and digital, that can be traded and are
subject to security regulations like those enforced
by the U.S. Securities and Exchange Commission.
First official equity funding stage investors. An important component of tokenomics is understanding exactly how many tokens and at what price these market actors were able to acquire their share.
The set of 12-24 words that are used to encrypt your the private key for your wallet. This should be kept private, never shared, and never saved electronically – just write it down and store it safely and with secrecy.
Seems legit is often used in a sarcastic way to make fun of a poorly disguised scam. Used in the first degree, this expression can then give a positive opinion on the reliability of a smart contract or a platform.
Intended to be a gender identity neutral pronoun version of “sir”. Sometimes used to denote sarcasm.
A method of manipulating media content utilizing
simple video editing software rather than AI or
A way of partitioning or splitting a blockchain’s database into “shards” to improve scalability which allows for more transactions per second and less latency.
Represents the act of promoting a cryptocurrency or NFT.
See meme coin – A “shitcoin” is an even riskier token that has no utility, little to no roadmap, and is likely just a pump and dump.
Financial strategy to attempt to profit from the price of an asset falling.
A side chain is a blockchain that allows tokens from one blockchain to be securely used within a completely separate blockchain, but still move back to the original chain if necessary. Sidechains like xDai are popular because they offer distinct advantages to developers including cost savings and greater transaction speed. Blocknative’s developer tools offer support for popular Ethereum sidechains like xDai as well as layer 2 solutions like Polygon.
This is a type of attack where the attacker hijacks the victim’s SIM card and is able to gain access to all of their accounts, files, and passwords that would be stored on their phone. Recently this is most commonly performed by the attacker contacting the victim’s cellular provider and convincing the provider to digitally swap the victim’s SIM card onto a device the attacker controls. This is why Two Factor Authentication (2FA) via text message is not as secure as you might think.
Blocknative’s Simulation Platform simulates every marketable mempool transaction against the current block state in real-time and calculates the likely outcome of these transactions to give builders and traders insights into how transactions in the mempool will be executed.
When trading with an automated market maker or decentralized exchange there is a certain amount of price impact a trade will have on the token’s price which will cause you to pay/receive slightly less than the spot price. This percent change is called slippage and it is set as your tolerance for price movement when executing the trade.
A program on a blockchain that will run a set of commands when specific conditions are met, providing the functionality for trust-less contractual agreements.
When someone takes account or makes a record of a particular set of data, attendance, or ownership. Snapshots are taken to see who owned what at a particular time.
Selling into a very strong market or buying into a very weak market.
Automated bot that monitors time-based activity and submits information at the very last moment.
Speed Up Transactions
Speed Up transactions are a type of replacement transaction that attempts to overwrite a currently pending transaction with a new transaction. A Speed Up transaction could be used by traders trying to exploit an arbitrage opportunity before their competitors. Blocknative’s transaction monitoring tools offer replacement transaction notifications for Ethereum, Ethereum testnets, and Polygon.
A programming language for writing and implementing smart contracts on Ethereum and EVM compatible chains.
The price of a coin/token/equity at a specific time, typically the current time/price.
There are several different types of stable coins (Pegged, $ Backed, Algorithmic) and many different stable coins but the idea is that there is a plan, protocol, or backing in place that seeks to fix the coin to a specific (stable) price normally in relationship with a FIAT currency. Typically when referring to stable coins it is intended to mean coins that remain pegged 1:1 USD.
Locking up your contributing your coins/tokens to a contract or validator in return for crypto rewards. Usually used when referring to single sided yields.
A state channel is a layer 2 scaling solution. It allows off-chain transactions between users while only submitting the opening and closing transactions within the channel on-chain. This process significantly reduces costs and increases network throughput without compromising security.
Security Token Offering. A type of public offering of a unique digital token that represents an external asset using blockchain technology. STOs are a way of raising funding and are regulated like securities
Stop Loss – An open order to sell a token at a pre-specified price in order to limit a potential loss should price trend across the trigger price.
A stuck transaction is when transactions cannot be mined. Many stuck Ethereum transactions are caused by nonce gaps, and until the nonce gap has been resolved, wallets cannot process new transactions. Blocknative’s mempool monitoring tools help builders and traders identify, troubleshoot, and resolve stuck transactions.
Sometimes expanded to “support level” – The price level that an asset does not fall below for period of time.
An alternate version of a particular blockchain that is completely separate from the main and can be used for testing.
Token Generation Event – Creation/generation of the token on the blockchain and its launch to the market.
A tip is an ‘optional’ additional fee that is paid directly to miners by users to incentivize miners to include their transaction in the next block. Tips were added to Ethereum through an Ethereum Improvement Proposoal (EIP-1559).
TL;DR stands for “Too Long; Didn’t Read”. TLDR is usually a summary of a text that is not easily digestible.
A digital asset that represents ownership and exists on a blockchain but is not the naitive coin of that blockchain.
The act of a project moving off of one blockchain and onto another.
Broadly defined as the study of economics of crypto tokens and currencies. Tokenomics is often used to describe the economic relationship of tokens within a specific project. This will define things like what tokens exist in the project, supply and demand, distribution, production, utility, etc.
Take Profit. To realise profit by extracting value from a position that has increased in value, locking in the advantageous price movement with realized gains.
A company that creates hardware wallets and other crypto security solutions.
A word, phrase, slogan, design or logo that operates as an indicator of source for goods or services.
Transaction Event Stream
A transaction event stream is a real-time stream of transaction events that are happening in the mempool. Blocknative’s live transaction event streams provide blockchain developers and digital asset traders with an easy way to customize and read transaction data for a competitive advantage.
When the entire block is accepted, or ‘hashed,’ by a miner the transaction is considered settled. As the new block propagates across the network, each node executes the transactions in the block and updates its current state. At this point, the transaction is confirmed on the blockchain. Blocknative’s transaction monitoring APIs provide transaction settlement transparency so developers and traders can deliver seamless users experiences.
Blocknative’s Transaction Simulation tool simulates the transactions that would execute if a transaction was published on-chain. Simulating Ethereum transactions helps traders, builders, and MEV searchers see the internal transactions that execute inside a transaction and the end result of a transaction.
The transaction status is the current state of your transaction in the blockchain. Transaction statuses include: confirmed, failed, dropped, and stuck. Blocknative’s Mempool Monitoring APIs enable developers and traders to track the transaction status on multiple blockchains including Bitcoin, Ethereum, xDAI, Polygon, Binance, and Ethereum testnests including Ropsten, Rinkeby, Goerli, and Kovan.
A network whereby users can trust the information presented to them without the verification by a third party. This is because there are mechanisms in place to ensure information is verified by users within the network.
A blockchain-based operating system with smart contract functionality.
Total Value Locked – Shows the overall value of crypto assets deposited in a particular protocol. Often used as a metric to gauge market interest and protocol health.
Two Factor Auth.
Type 0 Transaction
Type 0 transactions are legacy transaction types from before the London hard fork in August 2021 which included the deployment of EIP-1559. Blocknative’s Gas Platform API and Gas Estimator supports both Type 0 and Type 2 transactions.
Type 2 Transaction
Type 2 transactions are based on the EIP-1559 upgrades and include Base Fee, Max Priority Fee, and Max Fee Per Gas fields instead of the Gas Price field. Blocknative’s Gas Platform API and Gas Estimator supports both Type 2 and Type 0 transactions.
When a transaction has yet to be appended to the blockchain through node validation.
Crypto is largely, by design – unregulated; not controlled, supervised or governed by the laws of nation states.
A type of self-custody wallet that lets users keep their cryptocurrency balances independent of exchanges or third parties. United States Patent and Trademark
An agency in the U.S. Department of Commerce that serves as the national Patent Office and Trademark registration authority
Universal Time, Coordinated – A successor to GMT and the primary time standard with which the world regulates it’s clocks and time-zones.
A token typically providing holders with the ability to access, via an encrypted key, a particular blockchain or network for purposes of accessing certain benefits or functionality on that blockchain or platform. Utility tokens are typically not intended for use as a currency
or means of payment.
UX is an abbreviation for User Experience, and is the design discipline for optimizing how users interact with and perceive an application, interface, or system. Blocknative’s APIs can help Dapp developers improve the user experience by providing in-app transaction notifications and gas estimations.
Virtual Asset Service provider
A crypto exchange or platform used to transfer
cryptocurrency in the market
A validator performs agreed upon activity for the health of a blockchain (either work, or staking) to receive rewards for supporting the validation of each new block.
Voice Chat – Name given to the audio chat inside discord or any other predominantly voice only chat platform. In CC’s case, the most active and expedient information source available to you. Alternatively “VC” can also be used to reference Venture Capital(ist).
Vesting – In tokenomics, vesting refers to the restriction of either emission or sale of a token for a set period of time.
The primary creator of Ethereum.
In cryptocurrency, volume refers to traded quantity of any particular crypto-asset over the candal time-width. Typically 24 Hours.
Virtual Reality The use of computer modeling and simulation to enable interaction with an artificial, three-dimensional (3-D) visual or other sensory environment.
A crypto slang acronym WAGMI abbreviates to We’re All Going to Make It. The abbreviation Is used in positive and negative situations in a means to bring hope to the negative situations and hype to the positive situations.
A personal Digital storage area for NFT’s and Cryptocurrency’s. Wallets are a safe place to store Crypto which then can be used for transactions.
A unique address given to the user when a wallet is created, this is used to send, Receive and swap tokens or NFT’s on the set mainnet. Wallet addresses are unique and public, this means they can be tracked to all transactions made on the wallet.
A list of crypto currency’s and or NFT’s added to a watchlist due to personal or community interest. A watch-list has crypto currency’s/NFT’s that are to be primarily focused on and easy accessed by the individual.
Wrapped Ethereum (wETH) is a tokenized version of Ether on the ERC-20 standard. wETH can always be redeemed 1:1 for ETH. It enables functionality with Dapps on Ethereum and other blockchains.
Wrapped tokens allow users to transact with cryptocurrencies via blockchains or token standards outside their original design scope. Wrapped tokens are usually created by holding the original asset in a digital vault, then issuing a “wrapped” token representing the vault assets. They allow for greater interoperability between previously non-compatible digital assets.
Web 3.0 is the third generation of the internet. The 3.0 makeover comes with the incorporation of blockchain technology and factors in the concept of decentralization and asset and data custody favouring the end user.
A crypto slang term both used literally and metaphorically. The metaphorical term is spoken by individuals who are aware of the mint date however are referring to crypto newbies who may be new to the server minting phase, hence the commonly asked question ‘wen mint’. The literal term speaks for itself, an individual asking when the mint is happening.
A crypto slang term usually referring to when a project is going to increase in value astronomically both used literally and metaphorically.
The wrapped version of Ether. Wrapped tokens like WETH are tokenized versions of cryptocurrencies that are pegged to the value of the original coin and can be unwrapped at any point
An individual that owns a lot of crypto or a specific crypto asset. Often enough to impact/manipulate the market with their trades.
A list of actors/investors that will be given access (often with priority) to a particular project or MINT. Other variations include allowlist, mintlist, <project reference>-list.
A token can be found in a Wrap. For example WETH is the wrapped version of ETH. The value of WETH is therefore fixed to that of ETH in the same way as a stablecoin whose value is stuck to the dollar. Wrapping a token allows it to be used differently.
xDai Chain (xDai or Gnosis Chain) is a proof-of-stake (PoS) Ethereum sidechain that offers faster and cheaper transactions compared to Ethereum. The native token of xDai Chain is DAI which is pegged to the U.S. dollar and was created by MakerDAO. Blocknative offers xDai developers and traders access to Mempool Explorer, Onboard, and Notify APIs.
Extended Reality An umbrella term for computer-generated
environments merging physical and virtual worlds.
XYZ is a popular domain name referring to the end of the alphabet and the XYZ generation. Its history with Google through Alphabet and its various references make it a perfect choice for many Web3 companies wishing to distinguish themselves from the classic .com.
Yield farming is an exceptionally broad term; it involves trying to get the biggest return possible from cryptocurrency. This could involve earning interest by lending digital assets to others, or locking up the Crypto in a liquidity pool. Some decentralized finance protocols also issue governance tokens as a reward for participants.
Year To Date – the period of time beginning the first day of the current calendar year or fiscal year up to the current date.
The very term “zero knowledge” originates from the fact that no (“zero”) information about the secret is revealed, but the second party (called “Verifier”) is (rightfully) convinced that the first party (called “Prover”) knows the secret in question.
A Zero Knowledge rollup is a layer 2 scaling solution that uses a cryptographic function that reliant upon zero knowledge cryptography.
Zk-SNARK is an acronym that stands for “Zero-Knowledge Succinct Non-Interactive Argument of Knowledge.” A zk-SNARK is a cryptographic proof that allows one party to prove it possesses certain information without revealing that information.
zkSync is an Ethereum layer 2 scaling solution. It utilizes ZK rollups to offer lower gas fees and faster transaction finality without making security compromises.