There are many terms and acronyms commonly used in the Web3 field, which can make it difficult for readers to refer to the documents. So in this article PCB will list 30 common terms that are often used.

GM (Good morning): Chào buổi sáng (thường được cộng đồng crypto trên Twitter hoặc Discords. Ai đó thậm chí đã dùng từ này để tạo một memecoin vào đầu tháng 11/2021.

FUD (Fear – Uncertainty – Doubt): Fear, uncertainty and doubt

HODL (hold on for dear life): Hold on for dear life (a term referring to the determination to hold on to cryptocurrency regardless of whether the market goes up or down)

WGMI (We’re Gonna Make It): We will do it (call and encouragement from investors to each other)

NGMI (Not gonna make it): Will not be successful (usually used to refer to individuals who make inappropriate buying/selling decisions)

Hfsp: Hfsp is an acronym for “Have fun staying poor” which means to have fun staying poor and is a way of mocking people who don't invest in cryptocurrency. It is often associated with or interchangeable with NGMI, although some see it as a way to mock those who are not yet involved in the cryptocurrency market.

Cold Wallet: Cold wallet is used to store assets. This type of wallet is not connected to the internet, so this wallet is safer than a hot wallet (connected to the Internet, easily at risk of money being hacked).

Hot Wallet: An internet-connected wallet that stores digital assets (cryptocurrencies, NFTs).

DAO (Decentralized Autonomous Organization): Decentralized autonomous organization. Unlike organizations like Microsoft, Facebook and Google that have a system of leadership agencies, DAO's way of operating is completely autonomous and independent without the need for intermediaries.

DeFi: Decentralized Finance, financial institutions operate using smart contracts on blockchains that do not rely on intermediaries such as banks.

Diamond Hands: Được sử dụng để mô tả việc nắm giữ tài sản trong thời gian dài ngay cả khi có áp lực bán tháo. Hoặc có thể hiểu rằng nhà đầu tư sẽ tiếp tục nắm giữ tài sản của mình cho đến khi chúng trở nên có giá trị, giống như một viên kim cương

Paper Hands: The opposite of Diamond Hands, refers to traders/investors who quickly sell their positions when prices fall.

ERC-20, ERC0721, ERC-1155: Most popular token standards on the Ethereum blockchain (for NFTs)

Fiat: Central Bank fiat currency (like USD or EUR)

Fungible: With many goods/assets, it doesn't really matter which one you have (one USD is essentially the same as another US USD). Non-fungible goods/assets means each individual good/asset is unique and some may be more valuable/different than others

Gas: Transaction fees for processing transactions on the blockchain – usually recommended by the wallet or platform depending on network congestion but you can choose to reduce or increase them which can affect speed (or reliability). sure) that your transaction is processed. You should not lower the price too much or your transaction may not be successful.

Gwei: Gigawei (1,000,000,000 wei). Wei is the smallest unit of ether (similar to what one penny corresponds to one USD). Gas is measured in Gwei.

KYC (Know Your Customer): Verify customer identity. Many exchanges/wallets/platforms require you to verify your identity to help prevent fraud, money laundering, and other risks.

NFT (Non-fungible token): NFT can be almost anything, from photos, videos, songs to a contractual record.

Oracle: A third-party service that allows smart contracts to communicate with external information/data sources.

Proof of Stake: A mining structure that states a miner can mine/validate block transactions based on their coin holdings.

Proof of Work: A mining structure that achieves consensus through solving complex mathematical problems using computation to confirm/reach consensus on transactions.

Private Key: Like the key to your house. You should be very careful to protect your private keys and never give them to anyone.

Public Address: Similar to your home address – is a semi-public record of your wallet's location on the blockchain(s).

Roadmap: Many NFT projects have “roadmaps” that lay out their plans for a project. It's helpful to look at these things with a critical eye. For example, a realized project that plans to achieve a AAA VR title in a year will be featured.

Smart Contract: A self-executing contract that lays out terms for buyers and sellers in code recorded and distributed on the blockchain. The code of the smart contract controls the execution of transactions. Transactions are traceable, immutable, and irreversible.

Staking: An agreement in which you agree to lock up your assets for a period of time in exchange for a reward. The rewards for staking are similar to the interest from keeping money in a savings account.

Whitelist / Allow List: An access control method commonly used to grant private access to a platform or experience (it is commonly used for mining NFT projects)

Pump It/Dump It: Pump hoặc pamp là đẩy giá một coin tiền mã hóa vọt lên cao, và ngược lại với nó là dump là một cách mỉa mai để đề cập đến bản chất đầu cơ và theo xu hướng của tiền mã hóa.

NFA: stands for “not financial advice” which means not financial advice, is a disclaimer that the person is not qualified to give financial advice, and their opinions should not be viewed as such.

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