Glossary

A fiat ramp is a gateway that allows fiat transfer from a traditional bank account, which can then be used to purchase crypto assets.

Fiat money and its currencies are government-created money, such as the euro, dollar or yen.

A fee is a small number of coins that you have to pay when triggering an action on the blockchain. Miners earn the fees in addition to the block reward.

A crypto faucet is a platform that rewards users with cryptocurrency for completing simple tasks, rewards are sent directly to user’s wallets.

Etherscan is the most widely used blockchain explorer platform developed primarily for the Ethereum network.

The ERC-20 token is a program code that is often used to create tokens within the Ethereum blockchain as part of a smart contract.

So-called early adopters are characterized by their willingness to take risks and are among the first to experiment with new trends.

In the crypto world, the term dump is used to describe a sudden and significant drop in the price of a digital asset.

Double spending is a potential problem for digital monetary systems that Satoshi Nakamoto first resolved with Bitcoin.

Decentralized Exchanges (DEXes) in the form of Automated Market Makers (AMMs) offer a permissionless trading solution in the crypto space.

DeFi is an acronym for Decentralized Finance. It is a disruptive concept that replaces traditional intermediaries with decentralized protocols.