The Words of Crypto

BEP-20 is a token standard on the Binance Smart Chain (BSC) that defines how tokens should be created and managed. It sets rules for how these tokens are transferred, interacted with, and used in different applications.

BUIDL is a deliberate misspelling of the word "build." It originated as a meme in the cryptocurrency community, emphasizing the importance of actively developing projects and contributing to the crypto ecosystem, rather than just speculating on price movements.

"Bitcoin Moon" refers to a significant and rapid increase in the price of Bitcoin. When people say "Bitcoin is going to the moon," they mean they expect its value to rise sharply, often to unprecedented levels.

DYOR, or "Do Your Own Research," is essential in crypto to ensure you understand what you're investing in and avoid scams.

EIP 4844 introduces "Shard Blob Transactions" to enhance Ethereum's scalability by efficiently handling larger data volumes as part of Ethereum 2.0.

Emotionless trading is about making logical decisions in trading, avoiding the influence of emotions like fear and greed to maintain consistency and discipline.

"Fren" is a casual term for "friend," often used in crypto communities to express camaraderie and build connections among members.

Gwei is a unit of measurement used on the Ethereum network to calculate gas fees, directly impacting the cost and speed of transactions.

An Initial Dex Offering (IDO) is a decentralized method for launching and distributing cryptocurrency tokens through a DEX, offering transparent and accessible fundraising.

Impermanent loss occurs when the value of assets you’ve deposited in a liquidity pool changes compared to holding the assets in a personal wallet. This change can lead to a lower dollar value when you withdraw your assets, even if the number of tokens remains the same.

A mainnet is the main network where a blockchain protocol runs its live and actual transactions. It is the complete and fully developed version of a blockchain project, as opposed to a testnet or any other testing environment.

A mempool, short for "memory pool," is an important component of a blockchain network where unconfirmed transactions are temporarily stored. When a user initiates a transaction, it enters the mempool, waiting for miners to include it in a block and confirm it.

NGMI stands for "Not Gonna Make It". It’s a slang term used online to express doubt that someone will succeed in their efforts or goals. When people use NGMI, they’re basically saying they don’t think the person will reach their intended outcome. It’s often used to convey a sense of frustration or skepticism about someone's chances.

A "Rug Pull" is a crypto scam where developers abruptly withdraw all funds from a project, leaving investors with worthless tokens.

A Token Generation Event (TGE) is the creation and distribution of a new cryptocurrency, marking its official launch and availability for trading.

TVL (Total Value Locked) measures the value of assets in a DeFi protocol, reflecting its popularity, trust, and liquidity in the decentralized finance space.

A TXID, or Transaction ID, is a unique identifier assigned to each transaction on a blockchain. It serves as a digital fingerprint, allowing users to track and verify specific transactions within the network.

Tendermint is a blockchain tool that enables fast, secure transactions by combining a consensus algorithm with a modular framework, ensuring network reliability.

TradFi, short for "Traditional Finance," includes the financial systems we've known for ages - banks, stock exchanges, and other familiar institutions. These entities rely on well-established procedures and regulations to manage everything from savings and loans to investments.

A UTXO (Unspent Transaction Output) is a crucial component in Bitcoin that represents unspent cryptocurrency, essential for tracking ownership and facilitating transactions on the blockchain.