Crypto Definitions Glossary
March 4, 2024
Crypto may seem complicated - but it doesn’t have to be.
Using wallets like Valora enables you to make the most of Web3 technology with less friction and more confidence. The first step is understanding the basic elements of crypto - including popular slang key terms and basic aspects of transacting on-chain.
Check out our crypto definitions glossary to use as your ultimate cheat sheet.
Table of Contents
Web3, Crypto, Decentralization
Trading, Staking, Swapping
Valora, Wallets, Payments
Definitions
Web3, Crypto, Decentralization
Cryptography
The mathematical technique of encrypting data to ensure that only the individual(s) intended to receive that information have the keys to decipher it.
DeFi
Decentralized Finance | a blockchain-based financial system that allows people to lend, borrow, or invest without the need for traditional financial intermediaries like banks or brokers.
Ethereum
The first and leading smart contract blockchain that allows people all over the world to build decentralized applications and transact directly, P2P (Peer-to-Peer.) Ether (ETH) is its native currency.
Gas Fees
Charges paid for transactions and smart contract executions on a blockchain network, compensating for the computing energy required.
Multi-Chain
An ecosystem comprising numerous interconnected blockchains, enabling seamless transactions and interactions across different networks.
NFT Marketplaces
A digital platform where users can buy, sell, and trade unique digital assets known as Non-Fungible Tokens (NFTs.)
ReFi
Regenerative Finance | An inclusive form of finance that prioritizes the needs of marginalized communities and produces a positive impact on the environment
Wagmi
An encouraging mantra that stands for We’re All Gonna Make It. It is often used in the crypto community to encourage collective optimism and solidarity.
Trading, Staking, Swapping
Gas
a.k.a. crypto fees. The amount of computational work required to process blockchain transactions or smart contracts which determines the fees for that transaction.
Liquidity
The ease and speed at which a token or asset can be converted into cash or other assets. High liquidity means an asset can be quickly bought or sold without significantly affecting it's price.
Swap
The exchange of one digital asset for another on a blockchain platform or DeFi application often facilitated by smart contracts without the need for a traditional intermediary.
Tokens
A digital unit on a blockchain that represents an asset, access right, or specific utility; tokens are created and managed on blockchain platforms and can vary in function, from representing virtual goods to providing governance rights.
Wrapped
Refers to a cryptocurrency that is tokenized as a representation of an asset from a different blockchain, allowing it to be used within the new blockchain's ecosystem for enhanced interoperability and functionality.
Valora, Wallets, Payments
Cross-border payments
Financial transactions where the sender and recipient are based in different countries involving the transfer of money or digital currency across international borders.
Financial Empowerment
The state of having control over one's finances, characterized by a balance between economic stability and emotional well-being, leading to informed, confident financial decision-making.
Microwork
Small, digital tasks completed online, offering flexible work opportunities globally, especially beneficial in areas with limited job options.
Self-Custody
In cryptocurrency, the direct management and security of one's own private keys without dependence on a third party.
Stablecoin
Any Cryptocurrency with value pegged to “stable” asset classes like fiat currencies, commodities, or via algorithms to reduce price volatility.
Supercharge
A unique rewards program offered by Valora that allows users to get significant annual rewards on their crypto holdings.
UBI
Universal Basic Income | An unconditional payment system provided to every individual regardless of their income or employment status.
