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Dictionary

Fork

A fork in a blockchain happens when there is a drastic change in a blockchain protocol. Miners then have to upgrade to the new protocol

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FUD

Fear, uncertainty and doubt. Expression used to describe negative talk about a project, people or something else. Someone that is spreading FUD is considered to

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Gas

Fees paid to validate a transaction on the blockchain. They vary from blockchain to blockchain.

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Gas limit

The gas limit is the maximum gas units somebody is willing to use up to execute a transaction. If the gas limit is too low,

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Gas Wars

A term used to describe when the gas fees go unreasonably high because too many users are trying to get their transaction confirmed within a

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GMI

Going to Make It. Expression used to describe the moment NFTs are universally understood and everybody sees their true value.

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Gwei

Gigawei. wei is the smallest unit of Ether. As pennies are the smallest unit of a dollar, and cents are the smallest units of Euros.

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HODL/ hodl= Hold

Expression derived from misspelling ‘hold’ in 2013 by a drunk trader. From there on it became a meme and used for every type of risky

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IYKYK

If You Know, You Know. People that experience FOMO often write this to make them feel better. It is some sort of justification for an

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JPGs / jpeg

Type of file that stores a digital picture. Expression used to say NFTs are not more than a digital picture, used ironically by the NFT

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Lambo

Opposite of McDonalds. Used to express being rich in the near future. Once you made a lot of money with NFTs, you will spend it

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