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Dictionary

Pending

This is a transaction that has already entered the blockchain, but has not yet been confirmed in a block and is awaiting processing by miners.

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PFP

Profile Picture. Used to describe the ‘profile picture’ NFTs, those where the art is meant to be used as an avatar.

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POAP

Proof of Attendance Protocol. NFT given out to people as reward for attending an event, online or offline.

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PoS

Proof of Stake. New way of validating Transactions, Planned to implement into ETH2, only validates random transactions by random validators, which uses much less energy

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Pow

Proof of Work. Current way of validating transactions on Bitcoin, Ethereum and many more. Every Transaction is validated by every validator (miner), which uses a

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Primary Market

The place where a creator/artist sells their NFT the first time to a collector. Mostly their own website, or through an NFT art gallery like

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Priority fee

After the London Upgrade, an upgrade of the Ethereum network in august 2021, users have to pay a base fee as well as a priority

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Private Key

A private key is an array of letters and numbers that is able to encrypt or decrypt data. In combination with your public key, you

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Public Key

42 Character key that represents your crypto wallet address on the blockchain. Everybody that has this code can see your transactions, but does not have

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