Glossary Term: Cryptocurrency

A site that displays real-time trading data, token prices, gem finders and allows instant swaps for the best prices.

Wormhole is a decentralized universal message-passing protocol that enables interoperability between blockchains.

It solves the difficulty of moving tokens between different blockchains and enables communication between decentralized applications (DApps) on different chains.

The most important feature, Wormhole Token Bridge, enables reliable and trustless transfer of crypto assets between layer-one blockchains such as Solana, Ethereum, Binance Smart Chain, Polygon, Terra, Avalanche and Oasis.

Protected by the Guardian Network, Wormhole also supports a wide range of popular blockchains, NFT bridging, and native cross-chain DApps.

After a major hack in 2022, Wormhole backers launched a $10 million bug bounty program to recoup stolen funds and improve security.

Shiba Inu is a type of cryptocurrency that is available only online. It is an Ethereum-based altcoin that features the Shiba Inu dog breed as its mascot and is considered an alternative to Dogecoin. It was created in August 2020 by an anonymous individual or group called Ryoshi. Shiba Inu is widely considered to be a meme coin or a joke currency. Shiba Inu is divided into multiple tokens that help the entire cryptocurrency ecosystem function. The Shiba Inu ecosystem consists of three tokens:

• Shiba Inu (SHIB): This is the project’s foundational currency, starting with a supply of 1 quadrillion.
• Leash (LEASH): This token is intended to be a sort of “scarce” asset, with a much smaller total supply than SHIB.
• Bone (BONE): This is the governance token of the Shiba Inu ecosystem, which is used to vote on proposals to change the ecosystem.

Shiba Inu is still a relatively new token in the world of cryptocurrency. It gained a lot of attention in 2021, when its price multiplied many times over. However, its value has been volatile, with fluctuations in price. The Shiba Inu ecosystem is based on the guiding principles described in the “woof paper,” the canine version of a white paper that highlights cryptocurrency project outlines and roadmaps.

Floki Inu is a meme-themed cryptocurrency that was initially inspired by Elon Musk’s decision to name his dog Floki. It started as a dog-themed meme coin, much like Dogecoin, and has evolved to become a fully fledged web3 project. Here are some key points about Floki Inu:

• The birth of the Floki Inu coin can be traced back to June 2021 when Elon Musk tweeted that he would be naming his pet Shiba Inu “Floki”.
• Floki Inu is a dog-themed meme multi-chain coin that runs on both the Ethereum and Binance Smart Chain blockchains.
• Floki Inu has a total supply of 10 trillion tokens, with nearly 50% presumably burned on Ethereum and Binance Smart Chain.
• The project aims to become the “most meme-d cryptocurrency” and has a community that calls itself the “Floki Vikings” in honor of Floki (Musk’s dog) that was named after a Viking character.
• Floki Inu has partnered with leading crypto projects that include Chainlink, Trader Joe, and ApeSwap for its FlokiFi Locker digital asset locker protocol.
• Floki Inu offers several features, including an NFT and merchandise marketplace called FlokiPlaces, a content and education platform called University of Floki, and rewards for users who participate in the ecosystem.
• Floki Inu’s current price is ranging at USD 0.000042 with a market cap of USD $377,337,214.

In summary, Floki Inu is a cryptocurrency project that started as a dog-themed meme coin inspired by Elon Musk’s pet dog. It has evolved to become a fully fledged web3 project with several features and a dedicated community.

Pepe coin is a cryptocurrency that was released recently and is based on the Ethereum blockchain. Like other meme coins, it is based on a popular internet meme and has no real-world utilization, features, or clear roadmap. Its mascot is inspired by the “Pepe the Frog” meme, which was created by Matt Furie. The creators of Pepe coin prefer to remain anonymous, and there is no established team behind the token.

Pepe coin has a circulating supply of 420,690,000,000,000 (420 trillion) coins, of which 93.1% have already been distributed. The coin has seen a remarkable increase in its market capitalization since its launch, with the figure reaching over $420 million in less than three weeks. It is traded on major exchanges such as Huobi, MEXC, OKX, and others, as well as decentralized exchanges such as Uniswap.

Pepe coin does not have any intrinsic value or expectation of financial return, and it is for entertainment purposes only.

PIP is a payment layer of Web3 that provides innovative solutions for the growing ecosystem of crypto, with a focus on micropayments. PIP’s infrastructure is designed to make it easy for people to use crypto in their daily lives. Funded by top-tier companies like Coinbase, Galaxy Digital, CMS, and incubated by Binance Labs, PIP currently offers four payment services: Social payments, Web3 identity, Payment buttons, and Payment links.

SUI is a Layer 1 blockchain that uses Move, a programming language based on Rust, to provide high-speed transactions, instant processing, and scalability. It is an innovative, decentralized blockchain that redefines asset ownership. SUI is designed to provide instant settlement and high throughput while enabling a wide range of decentralized applications. Here are some key features of the SUI blockchain:

• Layer 1 blockchain: SUI is a Layer 1 blockchain launched in May 2023.
• Move programming language: SUI simplifies the smart contract development process with Move, a user-friendly programming language that’s both safe and expressive.
• High-speed transactions: SUI aims to provide high-speed transactions and instant processing.
• Scalability: SUI aims to solve the blockchain trilemma of speed, scalability, and security.
• Proof-of-stake consensus mechanism: SUI uses a delegated proof-of-stake consensus mechanism.
• SUI token: The SUI token is the native token of the SUI blockchain network, which is used for governance, paying transaction fees, and incentivizing validators for staking their tokens.

SUI was developed by MystenLabs, a company founded by former senior executives and architects for Meta’s now-defunct digital wallet program, Novi. The SUI Foundation oversees the blockchain, aiming to support ecosystem developers and creators through a host of grants. SUI has attracted attention from many in the crypto community, even before its mainnet launch. However, despite being built for high speed, SUI’s current network throughput is quite low, processing only 3 transactions per second.

ERC-4626 is a standard protocol for tokenized vaults. It is an extension of the ERC-20 token standard and provides a standard API for tokenized yield-bearing vaults that represent shares of a single underlying ERC-20 token. Vaults are smart contracts that accept token deposits and provide token rewards to the depositor. Standardizing vault implementations with ERC-4626 makes it easier for applications, plugins, and tools to integrate with vaults.

ERC-4626 provides a foundation for lending markets, aggregators, and intrinsically interest-bearing tokens to be interoperable across DeFi. ERC-4626 is fully backward compatible with the EIP-20 standard and has no known compatibility issues with other standards.

In the context of cryptocurrency, “gm” stands for “good morning”. It is a term commonly used among cryptocurrency enthusiasts across social media platforms, especially on Twitter, also known as crypto twitter (CT). The purpose of using “gm” is to foster an optimistic global community and start the day on a positive note.

NFT stands for Non-Fungible Token. These are unique tokens that represent ownership of a unique item or piece of content on the blockchain, typically the Ethereum blockchain, but they can exist on other blockchains as well.

Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-for-one basis (just like fiat currencies such as the US Dollar), NFTs are unique (non-fungible) and hold specific value. This means one NFT cannot be exchanged on a like-for-like basis with another NFT as each one has unique attributes.

NFTs can represent digital files, such as art, music, games, and other forms of creative work. When you buy an NFT, you gain the ownership rights to a unique piece of data on the blockchain. Importantly, while anyone can view or download digital artwork or other forms of digital content, only the owner of the NFT has the “official” ownership rights.

It’s also worth noting that NFTs have been subject to significant debate and controversy. Supporters believe NFTs are a new way for artists and content creators to monetize their work and engage with fans. Critics, on the other hand, raise concerns about environmental impact (due to the high energy consumption of many blockchains), potential for market manipulation, copyright infringement issues, and the potential for a speculative bubble.