Vocabularies in cryptochats are the words or expressions used in conversations about cryptocurrencies, whether in forums, social networks or messaging applications. Some of these vocabularies are:
DAO: Decentralized Autonomous Organization, it is an organization governed by the rules previously established in a smart contract.
DApp: It is a decentralized application which is not under the control of any company and in which users interact with each other on a blockchain network, without intermediaries.
DeFi: It is a decentralized finance system. A set of applications and smart contracts that, running on a blockchain network, allow for the creation of a decentralized finance system in which there are no intermediaries or organizations that control operations.
Rug pull: It is pulling the blanket, keeping all the investors' money. It refers to the action of the creators of an altcoin, shitcoin or memecoin type cryptocurrency selling all their tokens at once to keep investors' money, sinking the price of the asset in a matter of seconds, without anyone being able to do so. nothing to prevent its price collapse.
Shitcoin: It is any cryptocurrency of dubious credibility. It is an altcoin, or alternative cryptocurrency, that has the characteristic that it was born under a project of dubious credibility.
ICO: Initial Coin Offering, is an initial currency offering, it could be compared to a public offering, in which a company goes public to offer its shares to potential investors in exchange for money.
