Airdrop | An airdrop occurs when the marketing/project team wants to promote the launch of a new cryptocurrency. They will then offer tokens on a periodic and controlled basis to people who meet a specific set of characteristics (example: being an active member). |
ATH | "ATH" means "All time high", it refers to the highest price ever for a cryptocurrency. |
ATL | "ATL" means "All time low", it refers to the lowest price ever for a cryptocurrency. |
Bid | A bid is the price at which buyers want to buy a given cryptocurrency. |
Blockchain | The term Blockchain refers to a type of technology that supports the distributed recording of encrypted data and as the case may be, the Algorand blockchain. A blockchain address refers to a unique sequence of numbers, letters and cryptographic functions stored on a Blockchain. |
CEX | "CEX" is the acronym for "Centralized EXchange", centralized cryptocurrency exchange platforms. A CEX connects buyers and sellers via an order book and verifies the identity of its users. The fees are much lower than with DEXs, since the CEXs are centralized and all exchanges take place internally and not on the blockchain. |
Collection | A collection is a set of NFTs that are offered for sale by an Artist. A collection can be divided into several drops. |
Crypto-asset | A crypto-asset is a digital asset operating on a Blockchain, such as a (i) utility token or (ii) a virtual currency designed to work as a medium of exchange. |
DAO | A "Decentralized Autonomous Organization" (DAO) is a blockchain-based governance system. It makes it possible to democratize decision-making for a community, avoiding going through a centralized body. |
DEX | "DEX" is the acronym for "Decentralised EXchange", decentralised cryptocurrency exchange platforms. Such a platform is governed by smart contracts and all transactions are viewable on the blockchain. DEXs do not verify the identity of their users, unlike CEXs. |
Drop | A drop refers to the release of a collection. A collection can be released in whole or in part. Many NFT drops have purchase limits that apply to the number of NFTs Collectors are able to mint in one transaction. On Exa Market, drop concerns seeds that can be revealed as NFTs. |
Faucet/dispenser | Faucets or dispensers are solutions that distribute testnet tokens (tokens with no real value) for testing a protocol in development phase. |
Fiat money | Fiat money means the category of classic currencies including coins and banknotes: euros, dollars, etc. |
Gas fee | The gas fees are the transaction fees applied when interacting with the blockchain. Those transactions on the blockchain require using computing power. The gas represents the computer work time necessary to carry out such an operation. |
Layer 1 / Layer 2 | The layer 1 describes the main underlying architecture of a blockchain. |
Mining | The mining is the process for solving an IT challenge imposed by a Proof of Work (PoW). |
Minting | The minting is the process for resolving an IT challenge imposed by a Proof of Stake (PoS). |
Mainnet | The mainnet is the main (official) network on which the blockchain is running for transactions. The opposite is the testnet, only used to carry out tests. |
P2E | "P2E" means "Play-to-earn", it refers to the EXA Community, in which EXA tokens are at stake for rewards. |
Seed | A seed is a token that allows an Artist to assign a random NFT to a Collector. The seed will then be revealed or not by the Collector, who can either keep it or resell it (in the form of seed or NFT). Generally, a seed increases in value over time, so it is worth not revealing it. |
TBD | "TBD" means "To be determined", it refers to auctions. |
Testnet | On the opposite of the mainnet, the testnet blockchain is used only to carry out tests on the protocol and the network without this having any concrete influences for the users. |
Token | Tokens are specific to each crypto-currency or project. For example, Algo is the native token of the Algorand network. |
Token swaps | Token swaps refer to a direct exchange of a certain amount of one token for another. This action is done in a decentralized way, in dedicated platforms, whose liquidity of the supported pairs of tokens is fed by the users. |
Volatile currency | When the price of a cryptocurrency varies a lot, it is said to be volatile. |