Web3. That was all everyone seemed to be talking about lately.

It sounded like just another technical term, something only geeks and computer nerds could understand. The terms and jargon in this space are often used by those working in these industries or by early adopters that are excited about it.
We want to help you stay informed and in-the-know.

Where did all this terminology come from? Well, the history starts back to the late 2000s when Bitcoin, the first digital currency, introduced the concept of blockchain. Since then, hundreds of altcoins sprouted from innovative minds trying to improve shortcomings perceived within the original idea. Along the way, specialized programming languages like Solidity had to be created for non technical coders to author logic that operates the decentralized applications (DApps) running on public chains.

New communities emerged, filled with passionate believers experimenting in parallel universes from mainstream societies using novel techniques. Jokes, memes, and shorthand descriptions spread virally between insiders, sometimes borrowing from pop culture, gaming, art movements etc, thus leading to creation of these funny sounding terms of which some are mentioned in this blog and a lot of them can be found in our glossary.

First off, let's define some key concepts:

Cryptocurrency: digital or virtual money designed for fast and secure transactions outside traditional banking systems; operates independently of central banks or governments

Web3: next iteration of the Internet featuring decentralized platforms, applications, and networks built using cryptocurrencies and other distributed technologies, creating shared autonomy and collaboration across diverse online communities

Now, onto the slang terminology! Let's break this down into 2 sections.

Common Terms:
BTC/bitcoin - the original crypto coin invented by Satoshi Nakamoto in 2008, also known as Orange Coin or referred to as Corn. Still popular & much desired today. A Satoshi is the smallest unit of measure for the price of bitcoin. A single satoshi, or “Sat”, is equal to 100 millionths of a bitcoin. A bitcoin (BTC) can be divided all the way down to 8 decimal places or 0.00000001 BTC. Good luck with Stacking Sats ;)

DAO - Decentralized Autonomous Organization; digital platform for transparent leadership models or voting processes within communities

DApps - Decentralized Applications; smart contracts providing unique features through open source code available to anyone hosting its nodes and validators

AIRDROPS - Startups utilize crypto airdrops as a marketing tactic to distribute tokens to active cryptocurrency traders or members of a community for nothing or in exchange for little tasks

DEFI - Decentralized Finance encourages the creation of alternative decentralized blockchain-based financial apps in order to make peer-to-peer transactions possible without the use of middlemen. DeFi apps include exchanges, prediction markets, lending platforms, and many more products developed on top of different protocols like Ethereum or Bitcoin.

ALTSEASON/ALTPOCALYPSE - references to market surges happening in lesserknown cryptocoins alongside top ones; seasons generally follow bearish (=downward trend) bitcoin cycles where alternative coins increase exponentially over shorter periods due to retail buyers entering scene; altpocalypse implies negative scenarios whereby these same assets crash heavily once corrections occur leaving bagholders (those holding big amounts) disappointed

NFT - Non Fungible token. ‘Non-fungible’ means that the token cannot be exchanged. What it represents is unique, unlike money or a bitcoin. 

Silly Slang: 
Hodl - word misspelled from holding, means keeping coins for later appreciation rather than frequent buying/selling; popular meme originated via a drunk man posting on Bitcointalk-forum during a crypto market bull run

FOMO - FearOfMissingOut; emotional state of wishing not to miss significant events/price movements; encouraged by social media newsfeeds constantly updating latest coin prices and community announcements (but, remember HODL for overall growth)

BLUE CHIP - a cryptocurrency or token that survived at least 2 bearmarkets with a long term uptrend. (breaking previous All Time Highs)

Shilling/Buidling - promoting initiatives, spreading positive messages, or volunteering time to strengthen web3 ecosystem and ensure longterm success

GM - simply means “Good Morning”. The crypto community says GM to each other because everyone is in a global community and it is nice to say good morning to each other as you start the day. The twitter community usually starts off their day with a GM tweet, and the followers will greet back with a GM reply

KEK - is an online term with similar meanings to LOL or haha

This quickly written blog is merely an introduction to help kickstart journeys into deeper rabbitholes leading anywhere from mining rigs to DAO board meetings.

Enjoy exploring as we collectively navigate the beautiful messiness ahead!

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Also if you have any questions or feedback we would love to hear back from you!

WAGMI ;)