Metaverse Glossary

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0x API

The 0x Protocol API which permits access to more liquidity across multiple blockchains and networks.

0x Protocol

A protocol which allows peer-to-peer asset exchanges on the Ethereum blockchain.

51% Attack

An attack on a blockchain by a group of miners who collectively control >50% of the network's mining hash rate.

A

Aave Protocol

A protocol allowing for the borrowing and lending of cryptocurrency via traditional or "flash loans".

Account

A login/profile on a supported site for holding assets.

Accounting Token

Method of using tokens to track credit and/or debit entries as you would with other accounting systems.

ADBLOK

The purchase of advertising space within the Bloktopia metaverse.

Address

A unique strand of letters and numbers assigned to your crypto wallet, from which crypto can be sent and/or received. (Think of this as your bank account number).

Aeternity Blockchain

An example of a blockchain which utilizes both Proof-of-Work and Proof-of-Stake as consensus mechanisms.

Airdrop

The wireless and instant delivery of digital media from one party to another.

Algorithmic Trading

A trading system managed by a computer algorithm/program which determines buy/sell orders itself.

All-Time High (ATH)

The highest level (measured in price [see also market capitalization]) an asset (in this case a coin/token) has ever attained.

All-Time Low (ATL)

The lowest level (measured in price [see also market capitalization]) an asset (in this case a coin/token) has ever attained.

Allocation

A specified quota of coins/tokens any single body (business, individual, group, etc.) may earn, purchase, or withhold.

Alpha Version

A testing (typically of software) usually done by the developers of it (*see also Beta Test).

Alphanumeric

A string of characters consisting of letters and numbers.

Altcoin

Generally defined as any coin/token aside from Bitcoin (sometimes Ethereum as well).

Annual Percentage Rate (APR)

The rate of interest charged on a loan each year by the institution or individual loaning the money to the borrower.

Annual Percentage Yield

The total rate of return an investment attains over the course of a year.

Application Programming Interface (API)

A virtual connection between applications which allows them to communicate with one another.

Application Specific Integrated Circuit (ASIC)

A computer chip designed for a specific use. Commonly used among miners in mining pools.

Arbitrage

The act of buying and selling an asset in different markets where differences in pricing allow for profit.

ASIC Resistance

Blockchains designed to disallow any advantages ASIC miners possess.

Ask Price

The lowest price the seller of an asset will accept for sale of it.

ASSETS

Refers to voxel-built assets within the metaverse which aim to increase user experience.

Auction

The public sale of an asset/good where it is sold to the highest bidder.

Augmented Reality

The enhancement of a user's physical environment via the integration of digital information. The overlay of digital visualizations on the real-world.

Authentication

The process of verifying the legitimacy of a user’s identity or login via the use of MFA, passwords, security questions, or other means for additional security purposes.

Autonomous Economic Agent

An automated software designed to make decisions without external influence.

Avalanche Consensus Protocol

A consensus protocol which combines the best aspects of both Classical and Nakomoto Protocols.

Avatar

A graphical representation of a user on a digital platform.

Avalanche Consensus Protocol

A consensus protocol used by Avalanche, which combines the best aspects of both Classical and Nakomoto Protocols.

Average Directional Index

A technical analysis trading indicator which utilizes the moving average of prices assigning a value of 1−100 to determine market strength.

B

Bag

Slang term for holding a great amount of a specific crypto.

Bagholder

"An individual who holds ""bag"" no matter its current performance".

Basic Attention Token (BAT

An Ethereum blockchain token used for tracking the time and attention spent by users on attention spent on the Brave web browser.

Bear Market

Refers to markets when the price of assets or the market as a whole fall >20% from recent highs.

Bear Trap

A technical analysis pattern which falsely signals a downward trend before it turns upward.

Benchmark

A basis against which the performance of one crypto/security can be compared to.

Benchmark Index

A collection of securities used as a benchmark (ex. S&P 500 Index).

Beta Version

A testing of a software usually involving people outside the development to test for.

Bid Price

The maximum price a purchaser of a crypto/security is willing to pay.

Bid-Ask Spread

The difference between the bid and ask price of a crypto/security.

Binance Smart Chain (BSC)

A public blockchain built by Binance, its native coin is the Binance Coin (BNB).

Bit

The smallest unit of data in a computer.

Bitcoin

The most well-known crypto currency, it was created in 2009 and helped pave the way for blockchain technology to become more mainstream.

Bitcoin Cash

A spinoff altcoin of Bitcoin on the same blockchain, it was created in 2017.

Bitcoin Improvement Protocol (BIP)

A protocol created to help organize and make the Bitcoin community more efficient given the absence of a centralized leading body.

Bitpay

A payment service provider created by Bitcoin, it processes Bitcoin and Bitcoin Cash as payment for goods and services.

Bittrex

A cryptocurrency exchange created in 2014.

Block

A link of the blockchain which holds records of verified transactions encoded, hashed, and stored in Merkle Trees.

Blankos Block Party

An open-world multiplayer game designed like a giant block party.

Block Explorer

An online blockchain reader which permits users to read data stored on the blockchain.

Block Header

A section of data from a block which serves as a brief summary of all the data contained within that block.

Block Height

Defines a block’s location on the blockchain by numerating the number of blocks preceding it.

Block Producer

An individual or group selected to authenticate and verify the transactions of a block before the next block is created. Used on most Proof-of-Stake blockchains.

Block Reward

The coins/tokens rewarded to the miner (s) for solving the cryptographic equations necessary to create the next block on the blockchain.

Block Size

The amount of transactional data a single block can carry.

Block Time

The amount of time required for miner (s) or validator (s) to verify one block’s transactions and create a new one.

Block Trade

A private, large-scale purchase/sale of a security occurring outside of the open market.

Blockchain

A public or private, immutable ledger which stores digital information in blocks and is the basis of cryptocurrencies. The chain of blocks continuously builds upon itself.

Blockchain (Consortium/Federated)

A blockchain which is semi-private and only allows pre-selected participants to access it, all with equal power.

Blockchain (Private)

A blockchain wherein only a single individual has controls over the rules of it.

Blockchain (Public

A blockchain anyone can participate in.

Blockchain 1.0

The first generation of blockchain technology which utilized DLT technology primarily for cryptocurrencies.

Blockchain 2.0

The second generation of blockchain technology the main innovation relating to smart contracts.

Blockchain 3.0

The third generation of blockchain technology incorporating dApps.

Blockchain 4.0

The fourth and most recent generation of blockchain technology seeking to incorporate it for business and industrial needs.

Blockchain Enabled Smart Locks

Smart locks which use smart contracts to determine if they are locked or unlocked. Linking payment with cryptos is also made possible.

Blockchain Explorer

A browser enabling users to read data stored on the blockchain relating to transactions and other records.

Blockchain Transmission Protocol (BTP)

A protocol which enables the interoperability of different blockchains.

Blockchain Trilemma

A concept centering on the three main issues plaguing blockchain technology, decentralization, security, and scalability.

Blockchain-as-a-Service (Baas)

Third party cloud-based solutions for the construction, management, and running of blockchain applications.

BLOK

the native cryptocurrency of Bloktopia, used to purchase ADBLOK and REBLOK.

Bloktopia

A VR skyscraper consisting of 21 floors representing the total supply of 21 million bitcoin.

BNB Chain

The native blockchain of Binance.

Bored Ape Yacht Club

One of the most popular NFT collections built on the Ethereum blockchain.

Bots

Pieces of software which automatically carry out programmed tasks.

Bridges

Protocols permitting the transfer of data or tokens between different blockchains.

Brute Force Attack

An automated hacking method which attempts to guess login credentials or encryption keys.

Bubble

The trading of an asset at a price greater than intrinsic value.

Bug

An error in a computer program.

Bug Exploit

The act of taking advantage of a bug in software for personal gain.

Bull Market

A period of time in markets during which asset prices significantly grow.

Bull Trap

An instance where an asset declining in price appears to switch to a bullish movement, but reverses and continues downward shortly after.

Burning

"The permanent ""destruction"" or removal of coins/tokens from circulation".

Byzantine Fault Tolerance (BFT)

The property of a system (in this case a blockchain) to continue operations even if some nodes fail or act maliciously.

Byzantine Generals' Problem

A game theory problem referring to the struggles a decentralized system faces reaching consensus on a single truth in a network where other members can't be identified.

C

Candlestick

A method of showing the price change of an asset in a time window on a candlestick chart. Each candlestick shows the opening, closing, high, and low price of the asset in the specified time window.

Candlestick Chart

"A method of graphing the price of an asset over time using ""candlesticks"" which show the full price movement of the asset in the timeframe of each candlestick".

CeDeFi

"Centralized Decentralized Finance"A merge of centralized and decentralized finance. It seeks to somewhat centralize DeFi to grant some benefits and meet more regulatory standards.

Central Ledger

A central location where financial transactions are recorded.

Centralized Exchange

An exchange that is created and operated by a company.

Chain Reorganization

An operation within blockchain technology permitting the addition/replacement of blocks to facilitate the creation of new ones and add more data.

Chicken Hands

A slang trading term for selling an asset once a small profit is seen instead of holding it longer.

Cipher

An algorithm used to encrypt or decrypt data.

Circulating Supply

The total supply of cryptocurrency coins/tokens which are publicly available and trading on markets.

Classical Consensus Protocol

A protocol where consensus is reached via voting. It is faster than Nakomoto consensus as pool size is fixed and once required votes are received progress is made.

Closed Platform (Closed Source)

A platform where one party presides over all content within the ecosystem and controls access to features.

Cloud Gaming

Online gaming which streams to a user's device from a remote server.

Coin

A cryptocurrency operating on its own blockchain.

Coinbase

A large cryptocurrency exchange based in the USA.

Cold Storage

A means of storing crypto holdings offline for enhanced security.

Cold Wallet

A crypto wallet which isn't connected to the internet for enhanced security of holdings.

Commit Chains

A layer 2 scaling solution used by Ethereum and other blockchians. It works by using an untrusted operator to facilitate all transaction data between the parties involved and send updates to the main blockchain.

Consensus

The collective agreement of all participants within a network on the data and order of blocks in a blockchain.

Consensus Mechanism

The technology behind reaching a consensus, either proof-of-stake/work or a hybrid of the two is used.

Contract

Utilized to facilitate all transactions on the blockchain.

COSMOS

A platform which is used to interconnect independent blockchains. It dubs itself the "Internet of Blockchains".

Creator Economy

An economy powered by software allowing users to create digital experiences as well as goods/services that are sold to other users.

Cryptocurrency

A digital currency used as a medium of exchange for peer-to-peer payments, their operation is secured by cryptography.

Cryptography

A practice of using ciphers to secure information.

Cryptovoxels

A metaverse on the Ethereum blockchain where users can build virtually anything out of 3D blocks.

Custodial Wallet

A cryptocurrency wallet that hosts private keys of the crypto held within it.

Cyber Attack

An offensive ploy to obtain information, currencies, or other assets from a computer, network, or other digital location.

Cybernetics

The science of fostering communication between living beings and machines.

D

Decentraland

A full 3d metaverse on the Ethereum blockchain where users can buy land, build on it, and customize their avatars.

Decentralized

Refers to the characteristic of a system which operates via the cooperation of various participants not under the authority, control, or influence of an official body/organization.

Decentralized Applications (dApps)

An application which operates on a decentralized network.

Decentralized Autonomous Organization (DAO)

A transparent, decentralized (not run by a central government) organization constructed, governed, ran, and maintained by its members.

Decentralized Exchange

A peer-to-peer marketplace for the buying, selling, and exchange of cryptocurrencies without interference or governance of a central authority.

Decentralized Finance (DeFi)

Financial applications operating without the need of intermediaries to accomplish transactions.

Decentralized Identity

Your identity held and verified on the blockchain via NFTs. Ex. Your vaccination, Government/Employee IDs, certifications, etc.

Decentralized Oracle Network (DON)

A group of independent oracles which feed data into a blockchain.

Decentralized Society (DeSoc)

Focuses on building a Web3.0 society to build trust which persists over time and expands beyond its current finance-focused activities.

Decryption

Act of making encrypted data readable by a user or machine.

Deep Learning

The ability of a(n) AI/computer/software to "learn" the way humans do.

Delegated Proof-of-Stake (DPoS)

A version of PoS wherein a group of validators vote on which member will validate the next block. Compare to traditional PoS where the validator is randomly selected.

Diamond Hands

A slang trading term referring to someone who holds an investment despite any downturns or losses due to expectations of future profit.

Digital Goods

Intangible goods traded/sold on e-platforms.

Digital Hologram

A projection/simulation of a(n) being/object into a physical space.

Digital Identity

Methods through which you can express or identify yourself in a digital space.

Digital Twin

An identical representation of a real-world object within a digital space which updates in real-time.

Direct-to-Avatar (D2A)

The selling of digital goods directly to an avatar.

Distributed File System

A file system dispersed across multiple nodes allowing for access via any network.

Distributed Hash Table (DHT)

Used to disperse data over a P2P network for sharing on it.

Distributed Ledger Technology (DLT)

A decentralized database which is operated and shared by multiple participants in differing locations.

Do Your Own Research (DYOR)

A common acronym within the crypto/metaverse space. Used as a warning to others reading a writing to do their due diligence before putting their money at risk.

Dogecoin

A memecoin created in 2013 as a joke which gained mass popularity in 2021.

Double Spending

The potential for a cryptocurrency to be spent a second time before the first transaction is settled.

Doxxed

An individual or entity with identity information about them available on the internet or other public domain.

Drop

The release of new digital goods/land by a creator/metaverse.

E

E-Platform

A place for the buying and selling of goods/services over the internet.

Edge Computing

The distribution of networks closer to the end-user for a faster, more seamless experience.

EIP

Ethereum Improvement Proposal, a newly proposed set of technical standards for use on the Ethereum blockchain.

Encryption

The process of protecting data with ciphers so it is not readable by another user or machine without the decryption key (password).

End-User License Agreement (EULA)

A contract between the creator and user of a software outlining its conditions and terms of use.

EOSIO Blockchain

An open-source blockchain which uses delegated PoS as its consensus mechanism.

ERC

Ethereum Request for Comment. Describes a set of rules necessary for the implementation of tokens within the Ethereum ecosystem.

ERC-1155 Token Standard

A novel token standard which aims to increase efficiency via simultaneous representation of multiple tokens.

ERC-20

The set of rules set by the Ethereum blockchain for tokens operating on it.

ERC-721 Token Standard

The token standard for representation of non-fungible tokens.

Ether

The native cryptocurrency on the Ethereum blockchain.

Ethereum

A decentralized open-source blockchain designed to host other cryptocurrencies.

Ethereum Virtual Machine (EVM)

The virtual component within Ethereum nodes allowing them to execute bytecode for contracts.

Exchange

Brokers who host the trading of cryptocurrencies for fiat or other cryptocurrencies between traders.

Extended Reality (XR)

An experience combining elements of both physical and virtual reality.

F

Fair Launch

An ICO where all people have equal access to the sale of the coin/token and no pre-sale to special groups occurs.

Fintech

An acronym for "Financial Technology". A technology used for the enablement of financial services.

Flash Loans

Uncollateralized loans offered on some DeFi platforms.

Floor Price

The lowest price on a single item from a collection/set of them.

Fork

Occurs when a blockchain diverges into two potential forward paths. There are two types "hard forks" and "soft forks".

Fractional Ownership

Refers to the share of an individual on a collectively owned asset.

Free-to-Play (F2P)

Defines a game free to users within certain parameters. Some features, items, and other game-related content may require payment.

Full Node

A node which fully validates blocks and transactions.

Fully Diluted Market Cap

What market capitalization would be if the max supply was in circulation.

Fungible

Able to be exchanged for an identical good of identical value (ex. you can exchange one bitcoin with another, both have the same value).

Future of Work

Describes the continually developing abilities of workers to communicate and work with one another remotely.

G

GameFi

An amalgamation of the words "game" and "finance" referring to blockchain games which grant financial incentives to players.

Gaming Technology (GameTech)

The technology which make video gaming possible.

Gas

A term used to refer to the cost paid to perform a transaction on the Ethereum blockchain.

Gas Limit

A term describing the maximum amount of gas a user is willing to pay.

Genesis Block

The first block of a blockchain.

Go Ethereum (Geth)

An Ethereum client written in Google's Go programming language. Running Go Ethereum (Geth) turns the computer into an Ethereum node.

Governance

The formal structure or set of rules a blockchain abides by to ensure long-term innovation, trustworthiness, and transparency.

Governance Tokens

A utility token which grants special permission/power (usually voting) to the holder.

Graphics Processing Unit

Colloquially known as a "graphics card". It is responsible for the rendering of the image on a computer screen but has other potential including crypto mining.

H

Hacking

The use of one computer to compromise another computer or system in an unauthorized manner.

Halving

An event in which the current block reward gets cut in half.

Hash

An alphanumeric string of characters which encrypts an input so only an authorized machine can read it.

Hashing

The act of inputting data into a formula to produce a hash.

Hedging

The act of purchasing different assets to lower overall investment risk.

Hot Storage

Storage of private keys online for faster access to crypto holdings.

Hot Wallet

A crypto wallet which is connected to the internet.

Human Interface Design

A design focused on human interactions.

Human Interface Device

An electronic device which takes an input from a human and gives an output back to them.

Hypecoin

A cryptocurrency which is extremely popular, promising huge returns, but actually has little to no value.

Hyperledger

A project by the Linux Foundation seeking to improve multi-industry collaboration on blockchains and DLT in an effort to improve performance and support business transactions worldwide.

Hyperledger Besu

An Ethereum client created to be enterprise-friendly in both public and private permissioned network cases.

I

Immersive Media

Means through which interaction with content by the user is possible.

Immutable

Not able to be changed.

Inflation

An overall increase in the price of goods, decreasing the purchasing power of currency.

Initial Coin Offering (ICO)

A method of fundraising for startups where coins of their new cryptocurrency are given in exchange for investment into development.

Initial Land Offering (ILO)

The initial sale of parcels of land within a metaverse by the respective metaverse itself (parcels of metaverse land sold in the primary market).

Initial Token Offering (ITO)

Similar to an ICO, but for tokens instead of coins, these typically have greater use potential than ICOs.

Inter-Blockchain Communication (IBC) Protocol

An open-source protocol capable of conveying messages between independent blockchains.

Internet of Blockchains

The phrase used by Cosmos to describe itself. It aims to create interoperability between heterogeneous blockchains.

Internet of Value (IOV)

A term coined by Ripple (XRP). It is the instant peer-to-peer exchange of assets over the internet without the need of an intermediary.

Interoperability

The ability of independent blockchains or platforms to have assets and data sent between them.

InterPlanetary File System (IPFS)

A protocol and peer-to-peer network for the storage and sharing of data in a distributed file system.

Intrinsic Value

The real value of an asset determined by financial computation rather than using its current market value to determine worth.

L

LAND

The nft token which acknowledges ownership of a parcel of land within a metaverse.

Land Drop

The initial release and primary sale of new land within a metaverse.

Large-Cap

Cryptocurrencies with a market capitalization above $ 10 billion.

Layer-0

A blockchain which seeks to create interoperability between "Layer-1" blockchains (ex. COSMOS/Polkadot).

Layer-1

A term describing a main blockchain protocol such as Bitcoin or Ethereum.

Layer-2

The secondary layer of a blockchain used to host protocols overcoming Layer-1's shortcomings such as scalability and transaction speed.

Layer-3

The final layer of a blockchain which hosts dApps and the protocols required for their functionality.

Ledger

The record of data/transactions on a blockchain which is immutable.

Liminal Spaces

A next generation space for events or gathering which incorporates physical and virtual elements.

Live Services

Technologies which allow a user to create, interact with, and watch content in real-time.

Low-Code Platform

Platforms which are designed to allow those with little coding experience to create content on them.

M

Machine Intelligence

Another term for artificial intelligence. The sphere of programming computers/devices to operate in ways intelligent life would.

Machine Learning

The ability of a machine to learn and accurately predict outcomes without the explicit programming to do so.

Mainnet

Terminology referring to blockchain protocols which are fully developed and implemented.

MANA

The native cryptocurrency of Decentraland.

Market

A place of exchange of assets/goods. For our purposes, a medium through which cryptocurrencies/metaverse properties are bought and sold.

Market Capitalization

The total value of a cryptocurrency’s circulating supply.

Market Order

An order to buy/sell an asset at the best available price. This will be the ask price for buying and the bid price for selling.

Market Value

The price a cryptocurrency is currently trading at.

Massively Multiplayer Online Role-Playing Game (MMORPG)

A type of RPG (Role-Playing Game) combined with aspects of online multiplayer ones.

Massively Multiplayer Online Game (MMO)

A type of online game in which mass amounts (100's-1000's) of players simultaneously play on the same server.

Max Supply

The total amount of a cryptocurrency coin/token which can be mined.

Medium of Exchange

One of three functions of money, refers to being able to use it to purchase goods/services.

Memecoin

A cryptocurrency based off a meme, they typically lack intrinsic value (ex. Shibcoin).

Merkle Tree

In cryptography and coding it is a tree wherein each "leaf" contains hash data of the block as a whole.

Meta Platforms Inc.

The parent company of Facebook, Instagram, WhatsApp, and other sister companies.

Metamask

A cryptocurrency wallet built to operate only on the Ethereum blockchain.

Metaverse

A virtual world/universe encompassing all aspects of the physical including real-time interactions, properties for sale, other digital goods/services, and more.

Metaverse Continuum

A term coined by Accenture referring to how the blockchain, cloud, edge technologies, and more related to the metaverse will continuously develop as it grows.

Microcap

Cryptocurrencies with a market capitalization below $ 50 million.

Midcap

Cryptocurrencies with a market capitalization from $ 1 billion — $ 10 billion.

Minecraft

A Sandbox open-world video game where users can perform a wide range of actions.

Miner

Individuals/companies who use rigs to mine cryptocurrencies and help build blockchains.

Mining

The act of using a rig to build the blockchain and mine cryptocurrencies.

Mining Difficulty

A difficulty rating of effort required to find the correct hash for mining the next block of a blockchain.

Mining Pool

The collective effort of miners to work together to mine the next block of blockchain.

Mining Reward

The compensation given to the miner who completes the creation of a new block on the blockchain.

Minting

The creation of new tokens via Proof-of-Stake efforts.

Mixed Reality (MR)

A more in-depth augmented reality allowing for the virtual world overlay to "interact" with the real-world.

N

Nakamoto Coefficient

Defines the quantity of nodes required to either slow down or prevent a blockchain from functioning properly.

Nakomoto Consensus Protocol

A protocol invented by Satoshi Nakamoto (the creator(s) of Bitcoin) to verify authenticity on the blockchain and prevent double spending.

Nevermind

An Ethereum client featuring high levels of performance and customization options. It is among the oldest and most trusted clients available.

No-Code Platform

Platforms which are designed to allow those with no coding experience to create content on them.

Non-Custodial Wallet

A cryptocurrency wallet that allows the holder to host the private keys of their crypto.

Non-Fungible Token (NFT)

The characteristic of a digital asset not being fungible.

O

Off-Chain Scaling

Scaling methods which live outside of the base blockchain.

Off-Chain Transactions

Transactions occurring off of the blockchain which are later recorded on it (ex. via the Bitcoin Lightning Network).

Offline Storage

Also called cold or paper storage, this is a method of storing cryptocurrencies on a physical hard drive, not online, to prevent hackers from stealing them.

On-Chain Scaling

Scaling methods involving a layered approach with multiple protocols cooperating together.

On-Chain Transactions

Transactions occurring directly on the blockchain which are then verified and recorded on it.

Open Platform (Open Source)

A software with open standards allowing anyone to build additional content on top of it.

OpenEthereum

An Ethereum client seeking to provide quick synchronization and minimal downtime.

Optimistic Rollups

A Layer-2 scaling solution on the Ethereum blockchain which works by performing computation and moving data storage off-chain.

Otherside

A metaverse where players can turn their NFTs into playable characters.

Oracle

A software that brings real-world information into the blockchain for use within smart contracts.

P

Paper Hands

A slang investing term for someone who sells at the first sign of profit or volatility.

Peer-to-Peer (P2P)

The ability of two individuals to conduct a transaction without the need of an intermediary or third party.

Pegging

The attempt to maintain a constant exchange rate between two assets.

Persistence

The continuation of a virtual environment regardless of user presence on it.

Permissionless

A technology which doesn't require any sort of approval or permission to use.

Persistent Virtual Worlds

A virtual world which exists and continually develops internally even during times without interaction.

Play-to-Earn (P2E)

A game where players can earn some type of reward (crypto, nfts, etc.) by playing the game.

Portals

A doorway or other type of entrance which when stepped through teleports the user to a new location.

Primary Sale

The initial sale of land, NFTs, or other digital goods by the creator to a consumer.

Private Blockchain

A blockchain where a single individual/entity has authority over the network.

Private Key

"The ""password"" which enables the transfer of a cryptocurrency, verifying true ownership and authority to use it".

Proof of Attendance Protocol (POAP)

A type of badge, medal, etc. which is an NFT proving a user was at an event within the metaverse.

Proof of Stake (PoS)

A consensus mechanism wherein a single user verifies a transaction by staking some of their own crypto.

Proof of Work (PoW)

A consensus mechanism wherein a group of validators collectively verify a transaction.

Proof-of-History

Allows for individual nodes to have their own internal clock, eliminating the need for them to reach consensus with other nodes on timestamps.

Protocol

The set of rules governing a network and interactions on it.

Public Address

"The ""address"" of a piece of cryptocurrency, accessible by public allowing it to be requested as payment".

Public Blockchain

A blockchain accessible by the public.

Public Key

The cryptographic code used to operate transactions between two parties.

Public-Key Cryptography

Cryptography utilizing the sender's public key and the recipient's private key to respectively encrypt and decrypt a message.

R

REBLOK

The purchase of real estate within the Bloktopia metaverse.

Rig

A combination of mining devices used to increase total mining power.

Roblox

An online platform where users can play games made by other users and customize their avatars.

Robux

The native currency of the Roblox universe (not a cryptocurrency).

Role-Playing Game (RPG)

A game wherein the player takes on the role of a character to perform certain duties, missions, and tasks.

Rug Pull

A term for when a crypto has its price driven up and the developer sells their share, crashing the price.

S

SAND

The native cryptocurrency of the Sandbox metaverse.

SandBox

A metaverse where users can create, share, and sell in-world assets.

Scamcoin

A fake cryptocurrency used in a "get rich quick scheme" by the creator(s).

Secondary Sale

The peer-to-peer sale of a digital good. This refers to any sale of a good after the creator has sold it to its first owner.

Secure Hash Algorithm (SHA)

A cryptographic function used to secure data by creating a fixed-size string completely different from the original.

Security Token Offering (STO)

A token which represents a stake in an external asset and is subject to a degree of regulation.

Seed Phrase

A string of randomly generated words used to access a cryptocurrency wallet. Phrases are usually 12 words long but can contain up to 24 words.

Segregated Witness

A soft fork change to Bitcoin which separated signature and transaction data allowing for more efficient operation.

Self-Sovereign Identity

The digital identity a user fully creates for themselves which has no ties to any central authority.

SHA-256 Hashing Algorithm

A Secure Hash Algorithm (SHA) which secures data via a cryptographic, mathematical operation which generates a unique 256-bit, alphanumeric string of 64 characters (called a hash) from an input.

Shiba Inu

A memecoin created in 2020 by anonymous developer Ryoshi.

Shitcoin

A coin with no use potential.

Slashing Event

Refers to a portion of staked crypto being burned by the network for invalid blocks being added to the chain.

Smart Asset

A special type of crypto token which defines ownership of a physical asset (such as a home) or non-tangible ownership (equity in a company, patents, etc.), they can be bought, sold, and traded just like any other crypto.

Smart Contract

A digital contract which is legally binding and self-executing.

Smart Contract Standard

A set of rules defining use of their underlying blockchain network.

Smart Glasses

A type of headset which combines the features and abilities of AR, headphones, microphones, and speakers. They typically are made to look similar to eyeglasses or sunglasses.

Snow Crash

A 1992 novel by Neal Stephenson which is widely credited for having the first mention of the metaverse.

Snowball Consensus Mechanism

A proprietary Proof-of-Stake consensus mechanism used by Avalanche. It aims to combine the benefits of Classical & Nakamoto consensuses to have all of the pros and none of the cons.

Software-as-a-Service (SaaS)

A licensing model used by software companies which sell subscriptions and centrally host operations.

Solana Foundation

A non-profit organization based in Geneva, Switzerland. It seeks to grow the Solana network and encourage mass adoption of blockchain technology.

Solidity

An object-oriented programming language used for the creation and design of smart contracts on various blockchains, most commonly Ethereum.

Soul

An address/entity that issues Soulbound Tokens (SBTs). The name of a wallet which holds SBTs.

Soulbound Token (SBT)

Non-transferrable, tokenized credentials attesting to achievements, characteristics, or other credentials that are a part of one's identity (ex. A college degree could be an SBT).

Spatial Audio

The use of 3D audio technology to create a more immersive listening experience.

Spatial Computing

The use of technologies such as spatial audio to create a fully immersive and realistic experience for the user.

Stablecoin

A cryptocurrency whose price is pegged to that of another asset.

Stake

The collateral put up for Proof-of-Stake consensus.

Store of Value

One of three functions of money, refers to the retainment of purchasing power.

Subnets

Short for subnetwork, they are a group of validators collaborating to achieve consensus on a blockchain.

T

Telepresence

The virtual presence of a user in a remote physical or virtual location with the assistance of AR or VR technologies.

Tendermint Core BFT Consensus

A software for recording data consistently across various machines. Basically, it records data securely across computers in a distributed system and has BFT tolerance allowing for up to 1/3 of them to fail without its functionality being affected.

Terms of Service (ToS)

The agreement between a service provider and end-user of the service on how the service can be used along with the duties of both parties.

Testnet

Terminology referring to blockchain protocols undergoing testing by developers before implementation for public use.

Tezos

An open-source blockchain for peer-to-peer transactions and the execution of smart contracts.

Three Functions of Money

Refers to the properties of money being a medium of exchange, store of value, and unit of account.

Throughput

The speed at which a blockchain processes transactions.

Token

A cryptocurrency which operates on a non-native blockchain.

Token Standard

A set rules that defines how new tokens can be issued on the underlying blockchain. Used as a subsidiary of the smart contract standard.

Tokenized

The process of dividing ownership of an asset into digital tokens.

Total Supply

The total amount of a cryptocurrency coin/token which can be mined minus any which have been burned.

Trader Joe

Avalanche's native decentralized trading platform.

Transaction Fee

A fee paid for usage of a blockchain to facilitate a transaction.

Turing Complete System

Describes a machine which when granted ample instructions, memory, and time, can solve any computational problem regardless of complexity.

Turing Incomplete System

A machine which cannot solve any problem, despite being granted ample instructions, memory, and time. Incomplete systems can have their reactions to potential issues accurately hypothesized within their finite abilities.

Turing Machine

A machine hypothesized by Alan Turing which would one day be able to solve any problem.

Transaction

The exchange of goods/services between two parties.

Transaction Fee

A fee paid for usage of a blockchain to facilitate a transaction.

Trustless

A term focusing on the decentralization aspect of blockchains defining the lack of need of a trusted centralized third-party or intermediary.

Turing Complete System

Describes a machine which when granted ample instructions, memory, and time, can solve any computational problem regardless of complexity.

Turing Incomplete System

Turing Machine

A machine hypothesized by Alan Turing which would one day be able to solve any problem

U

Unit of Account

One of three functions of money, refers to its use for quantifying how much something costs.

Upland

A blockchain based game where users can buy, sell, and trade properties mapped to real world addresses.

USDT

A cryptocurrency also known as Tether which is pegged to the US dollar and backed by Tether's reserves.

User-Generated Content (UGC)

Any additional content (games, attractions, assets for sale, etc.) made by users for use in a metaverse.

V

Verifiable Delay Function (VDF)

Functions allowing a prover to quickly demonstrate to a verifier a defined amount of time was spent running a function.

Veve Marketplace

A digital collectible/NFT marketplace with many licensed releases from Disney, Marvel, and other parties.

Virtual Economy

An economy which exists within a metaverse/virtual world.

Virtual Mainstreaming

The movement towards mass digitization of everything and the growing acceptance of the new digital replacements of physical items.

Virtual Reality (VR)

A technology allowing for the full immersion of a user into a virtual world.

Virtual World

A computer-simulated environment allowing for the simultaneous interaction between many users at once.

Volume

The amount of cryptocurrency which has been traded over a specified period of time.

Voxels

A unit of space in a 3D computer graphics model. Used for construction of certain assets and accessories.

W

Walled Garden

A domain in which users can create new content within a given set of parameters from the original creator. It can also refer to the areas of an app, website, or other platform that can be accessed without special permissions.