Mr Scoop


There’s a lot of brain-busting jargon out there - let’s break some of that down as easy as eating soft-serve on a hot summers day 😎


  1. Blockchain: A decentralized digital ledger that records transactions across a network of computers.

  2. Cryptocurrency: A digital or virtual currency that uses cryptography for security and operates independently of a central bank.

  3. Wallet: A software program that stores private and public keys and interacts with the blockchain to enable users to send and receive cryptocurrencies.

  4. Mining: The process of verifying and adding transactions to the blockchain by solving complex mathematical problems using powerful computers.

  5. ICO: Initial Coin Offering is a fundraising method in which companies issue digital tokens to investors in exchange for cryptocurrencies.

  6. Decentralized: A network that operates without a central authority or server, allowing for peer-to-peer transactions.

  7. Smart contract: A self-executing contract that is programmed to automatically execute when certain conditions are met.

  8. Altcoin: Any cryptocurrency that is not Bitcoin.

  9. Stablecoin: A cryptocurrency whose value is pegged to a stable asset, such as fiat currency or a commodity.

  10. Satoshi: The smallest unit of a Bitcoin, named after its mysterious creator, Satoshi Nakamoto.

  11. Cold storage: A method of storing cryptocurrencies offline to protect them from hacking and theft.

  12. Fork: A split in the blockchain network that creates two or more versions of the blockchain.

  13. Hash rate: The processing power of a network in solving mathematical problems required for mining.

  14. Public key: A unique address on the blockchain that is used to receive cryptocurrencies.

  15. Private key: A secret code that is used to access and transfer cryptocurrencies from a wallet.

  16. Whale: A person or organization that holds a large amount of cryptocurrency.

  17. HODL: A slang term for "hold" which means holding onto your cryptocurrency investment for a long period of time.

  18. FUD: A slang term for "fear, uncertainty, and doubt" which describes negative sentiments that can affect the cryptocurrency market.

⛓️ NFT

  1. NFT: Non-Fungible Token is a unique digital asset that is verified on the blockchain, often used to represent digital art, music, or collectibles.

  2. Digital Art: Artwork that is created or presented in a digital format.

  3. Collectible: A unique item that is highly valued by collectors due to its rarity or historical significance.

  4. Marketplace: An online platform that facilitates the buying and selling of NFTs.

  5. Royalties: A percentage of future sales that an NFT creator can earn each time the NFT is sold.

  6. Gas: A fee paid to the network for the processing of a transaction on the blockchain.

  7. Rarity: A measure of how unique or scarce an NFT is, often determined by the number of editions or copies created.

  8. Metadata: Information that is attached to an NFT, including the creator's name, title, description, and image or video file.

  9. Minting: The process of creating a new NFT and adding it to the blockchain.

  10. Minting platform: A website or service that allows creators to mint and sell their NFTs.

  11. Blockchain explorer: A website or tool that allows users to view and track NFT transactions on the blockchain.

  12. Smart NFTs: NFTs that use smart contract technology to enable dynamic and interactive features.

  13. Tokenization: The process of creating a digital token that represents a real-world asset.

  14. Wrapped NFT: An NFT that is converted into a fungible token, making it more easily tradeable on decentralized exchanges.

  15. IPFS: InterPlanetary File System is a protocol used to store and access NFT files in a decentralized manner.

  16. Burn: The process of permanently destroying an NFT, often used to increase the rarity of a particular NFT series.

  17. Layer 2: A secondary blockchain network that operates on top of the primary blockchain network, offering faster and cheaper transactions.

  18. Proof of ownership: Evidence that verifies the authenticity of an NFT and proves that the owner is the rightful owner of the digital asset.

💰 DeFi

  1. Decentralized Exchange (DEX): A platform that allows users to trade cryptocurrencies without relying on a centralized authority.

  2. Liquidity pool: A collection of cryptocurrency funds locked into a smart contract that enables automated market-making for trading.

  3. Yield Farming: A process of earning rewards in the form of cryptocurrencies by providing liquidity to DeFi platforms.

  4. Governance Token: A cryptocurrency token that is used to vote on governance issues in a DeFi protocol.

  5. Flash Loan: A type of loan that allows users to borrow cryptocurrency for a very short period of time, typically within a single block.

  6. Stablecoin Swap: A platform that allows users to swap different types of stablecoins with each other.

  7. Automated Market Maker (AMM): A type of decentralized exchange that uses algorithms to set the price of a cryptocurrency based on its supply and demand.

  8. Collateralized Debt Position (CDP): A mechanism that allows users to borrow cryptocurrency by locking up other cryptocurrencies as collateral.

  9. Impermanent Loss: A loss that occurs when providing liquidity to a liquidity pool and the price of the assets changes unfavorably during that time.

  10. Oracles: A mechanism that provides real-time external data to smart contracts to enable DeFi platforms to interact with real-world data.

  11. Wrapped Token: A token that represents another cryptocurrency on a different blockchain, making it compatible with DeFi protocols.

  12. Cross-Chain Swaps: A feature that allows users to swap tokens between different blockchain networks.

  13. Decentralized Autonomous Organization (DAO): A decentralized organization that operates through rules encoded as computer programs, using blockchain technology.

  14. Automated Liquidation: A process in which a smart contract automatically sells the collateralized assets when a borrower's position falls below a certain threshold.

  15. Synthetic Assets: A type of token that represents an asset in a virtual market, providing exposure to the value of the asset without holding the underlying asset.

  16. Rebase: A mechanism that adjusts the supply of a token in response to changes in the token's price, helping to maintain a stable value.

  17. Token Burning: A process of permanently destroying tokens to reduce the overall supply, increasing the value of the remaining tokens.

  18. Flash Swaps: A type of swap that allows users to instantly borrow any token in a liquidity pool and pay it back within the same transaction.

  19. Initial DeFi Offering (IDO): A fundraising method in which a DeFi project offers tokens to investors in exchange for cryptocurrency.

  20. Gas Fees: The fees paid for processing transactions on a blockchain network, usually paid in cryptocurrency.

PNG. Line Break - Triple Scoop