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Glossary

Introduction

In this glossary, you can find any TON- and crypto-related buzzwords.


A

Airdrop

Airdrop — a free distribution of tokens among specific participants.

Altcoin

Altcoin — all cryptocurrencies, except Bitcoin, are called altcoins.

AMA

AMA — an online Q&A called “ask me anything” where project leaders answer questions from the community about a product or service.

API

API — Application Programming Interface, a mechanism that allows two programs to interact with each other through a series of protocols.

APY

APY — Annual Percentage Yield, a calculated yearly interest rate for a given asset.


B

Bearish

Bearish — the term “bearish” is used when the price of an asset has declined due to investors selling. (The term is often used to describe the overall market sentiment.)

Binance

Binance — the world’s biggest cryptocurrency exchange by daily trading volume.

Bitcoin (BTC)

Bitcoin (BTC) — the preeminent cryptocurrency and the first decentralized network with open-source code, which laid the groundwork for the proliferation of blockchain technology.

Blockchain

Blockchain — a distributed ledger of data in the form of a chain of blocks recording transaction information for every event on the network.

Bloodbath

Bloodbath — a colloquial term often used to describe a severe and sustained market crash, which results in multiple deep red bars on price charts.

BoC

BoC — Bag of Cells. Usually, used in code.

BoF

BoF — Bag of Files. Usually, used in code.

Bot

Bot — a program written for two ecosystems to interact with each other — e.g., The Open Network and the Telegram messenger. On Telegram, bots are accounts in the messenger operated by software.

Bridge

Bridge — a program connecting various blockchains to transfer tokens and data from one network to another. TON Bridge is available by this link.

Bullish

Bullish — the term “bullish” is used to describe an asset whose value is appreciating. (“Bullish” is the opposite of “bearish” — i.e. when the market’s overall value is increasing.)

Burning

Burning — the act of burning or removing a number of tokens from the circulating and total supply, which often results in increased demand.


C

CEX

CEX — a centralized cryptocurrency exchange to trade tokens.

CMC

CMC — CoinMarketCap, a crypto information aggregator that closely follows changes in token prices and market capitalization.

Coinbase

Coinbase — the biggest crypto exchange in the United States.

Cryptobot

Cryptobot — a peer-to-peer (P2P) bot service for buying, trading, and selling Toncoin and other cryptocurrencies without Know Your Customer (KYC) verification.

Custodial

Custodial — a type of crypto wallet where a third party stores cryptocurrencies, and not their true owner.


D

DApps

DApps — decentralized applications made for blockchains supported by a group of nodes instead of a centralized server.

DCA

DCA — dollar-cost averaging, an investment strategy whereby investors buy crypto assets at a low yet fixed price to reduce exposure to risks.

Decentralization

Decentralization — one of the main tenets behind TON and other blockchains. Without decentralization, Web3 would be impossible to achieve; therefore, every element of the TON Ecosystem revolves around maximizing decentralization.

DeFi

DeFi — the decentralized analog to traditional finance, it includes accessible financial services and applications based on smart contracts.

DEX

DEX — a decentralized exchange (DEX) where users can trade cryptocurrencies without any intermediaries. The online entity needed to guarantee safe transactions is the blockchain itself.

Diamond hands

Diamond hands — a colloquial term describing an investor who has no intention of selling their assets regardless of the state of the market — even if there’s a crash or the market is bearish.

DNS

DNS — Domain Name System, a technology that allows users to make transactions between human-readable domain names (ton.org) and machine-readable IP addresses (192.0.2.44).

Dolphin

Dolphin — an investor who has low-level capital but has an influence on the community.

Donate — a bot service on Telegram through which people can either donate money or content creators can monetize their channels and services on Telegram, with a payment option in Toncoin.

Dump

Dump — manipulating the increase in value of a token or cryptocurrency and then cashing out.

Durov

Durov — Pavel Durov, a Russian entrepreneur who is famous for having founded the VK social network and Telegram messenger. Nikolai Durov is Pavel's brother who participated in developing VK, Telegram and also TON.

DYOR

DYORDo Your Own Research, the process by which you do research on a project, company or cryptocurrency before deciding to invest.


E

EVM

EVM — Ethereum Virtual Machine, a machine behaving like a decentralized computer, it computes the state of the Ethereum blockchain after each new block and executes smart contracts.

Exchange

Exchange — a place for trading and using other market instruments.


F

Farming

Farming — lending your crypto assets to receive rewards.

Fiat

Fiat — regular money issued by central banks or financial authorities.

FOMO

FOMO — “fear of missing out,” a psychological state that consumes some investors when the idea of losing potential gains from an opportunity is present. It usually appears during a bull market and when traders don’t do their due diligence analyzing a particular project.

Fungible tokens

Fungible tokens — cryptocurrencies that carry the same value as any other token of the same kind at any given moment.

FUD

FUD — “Fear, uncertainty and doubt,” market sentiments based on many factors.

Full Node

Full Node — a computer on TON Blockchain that synchronizes and copies the entire TON Blockchain.

FunC

FunC — the smart contract language on TON.


G

Gas

Gas — the fee paid for transactions on the blockchain.

Github

GitHub — a platform where developers gather to create base code for programs.


H

Hackathon

Hackathon — a gathering of programmers to develop software, programs, applications, etc.

Hash

Hash — information about transaction data, created by a hashing algorithm.

Hash rate

Hash rate — the indication of how much computational power is being used on a network for crypto mining.

Hold

Hold — saving — i.e. not selling — an asset or assets from your portfolio.


I

ICO

ICO — initial coin offering, a method for crypto projects to attract capital in the early stages.

IDO

IDO — initial decentralized exchange offering, another method of attracting capital when launching a cryptocurrency or token on a decentralized exchange.

Inflation

Inflation — the process when the value of a currency — e.g., U.S. dollar or the euro — decreases. Toncoin (and other cryptocurrencies) are emitted with a high degree of transparency and a predictable issuance, which has deflationary properties.


K

KYC

KYСKnow Your Customer, the process by which a user verifies their identity when creating an account for a crypto service.


L

Launchpad

Launchpad — a platform for crypto startups that brings investors and projects together. The main launchpad in the TON Ecosystem is Tonstarter.

Liquidity pool

Liquidity pool — grouping together crypto assets and freezing them in a smart contract. Liquidity pools are used for decentralized trading, loans, and other endeavors.


M

Mainnet

Mainnet — the main network of a blockchain.

Market cap (capitalization)

Market cap (capitalization) — the total value of a cryptocurrency’s combined number of tokens.

Masterchain

Masterchain — in a multi-layered blockchain, the masterchain is the most important. For TON, the masterchain is the main chain of the network. When operations happen on the blockchain, they do so on the masterchain.

Metaverse

Metaverse — a digital universe similar to a videogame where users create avatars and interact with the digital representations of other people or users.

Moon

Moon — a crypto term that describes a crypto asset’s vertical trajectory on a price chart — i.e. it quickly gains value.


N

NFA

NFA — not financial advice, this acronym is used as a disclaimer to avoid liability or responsibility when investors discuss cryptocurrencies or projects with other people.

NFT

NFT — non-fungible token, a unique digital token on a blockchain that cannot be duplicated or minted more than once.

Nominator

Nominator — those who provide financial resources to validators so the latter can confirm blocks on the TON Blockchain.

Non-custodial

Non-custodial — a kind of crypto wallet that gives full control over assets to the owner/user.


O

Off-ramp

Off-ramp — ways to convert cryptocurrencies into fiat money.

On-ramp

On-ramp — ways to convert (buy) cryptocurrency by spending fiat money.

Onion routing

Onion routing — a technology similar to TOR that allows anonymous interactions on a network. All messages are encrypted in various layers akin to an onion. TON Proxy applies such a technique.


P

Paper hands

Paper hands — an investor who’s inclined to panic-sell — an inexperienced investor.

Proof-of-stake

Proof-of-stake — a consensus mechanism to process transactions in new blocks on the blockchain.

Proof-of-work

Proof-of-work — a consensus algorithm where one party proves to another that a specific amount of computational work was spent. By expending a little energy, a party can verify this.

Proxy

Proxy — a service on a computer network that allows clients to install indirect network connections with other network services.

Pump

Pump — artificially inflating the price of a cryptocurrency or asset.

P2P

P2Ppeer-to-peer, transactions among users without the help of a third party or intermediary.


R

Roadmap

Roadmap — a project’s strategic plan that displays when its products, services, updates, etc. will be released.

ROI

ROIreturn on investment, the profits made from investments.


S

SBT

SBTSoulbound token, an NFT that can never be transferred because it contains information about its owner and their accomplishments.

Scalability

Scalability — the ability of a blockchain network to process complex transactions as well as a large number of them.

SEC

SEC — Securities and Exchange Commission, a financial regulator in the United States.

Shard

Shard — a mechanism that helps a blockchain network to scale by breaking into smaller blockchains to relieve network congestion — something which TON Blockchain does.

Smart contract

Smart contract — self-executing code that oversees and enables operations with the help of mathematical algorithms and without human intervention.

Spot trading

Spot trading — trading a financial asset for money.

Stablecoin

Stablecoin — a cryptocurrency whose value is stable (usually pegged to a fiat currency) and does not crash.

Staking

Staking — a way for users to earn a passive income by storing coins or tokens in a proof-of-stake algorithm, which, in turn, ensures the blockchain runs smoothly. For this, they earn rewards as an incentive.

Swap

Swap — the exchange of two financial assets — e.g. Toncoin for USDT.


T

TEP

TEPTON Enhancement Proposals, a standard set of ways to interact with various parts of the TON ecosystem.

Testnet

Testnet — a network for testing projects or services before launching on the mainnet.

Ticker

Ticker — the short form of a cryptocurrency, asset, or token on exchanges, trading services, or other DeFi solutions — e.g. TON for Toncoin.

The Merge

The Merge — the transition process of Ethereum switching from proof-of-work to proof-of-stake.

Token

Token — a form of digital asset; it can have multiple functions.

Tokenomics

Tokenomics — the economic plan and distribution strategy of a cryptocurrency (or token).

To the moon

To the moon — a colloquial phrase used when people create FOMO. It refers to hopefuls wanting the value of a cryptocurrency rapidly gaining a lot of value — hence its trajectory to the moon.

Toncoin

Toncoin — the native cryptocurrency of the TON Ecosystem, which is used to develop services and pay for fees and services. It can be bought, sold, and traded.

Trading

Trading — buying and selling cryptocurrencies with the goal of making a profit.

TVL

TVL (Total Value Locked) — Тotal value locked represents the number of assets currently being staked in a specific protocol.


V

Validator

Validator — those who verify new blocks on TON Blockchain.


W

WAGMI

WAGMI — “we’re all gonna make it,” a sentence often used in the crypto community to express the aspirations of becoming rich one day by investing in cryptocurrencies.

Wallet

Wallet — software that stores cryptocurrencies through a system of private keys needed to buy or sell cryptocurrencies and tokens. It is also a bot in the TON ecosystem for buying and selling Toncoin.

Web3

Web3 — a new generation of the internet based on blockchain technology that includes decentralization and tokenomics.

Whale

Whale — an investor who owns a large number of cryptocurrencies and tokens.

Whitelist

Whitelist — a list awarding people special perks.

White paper

White paper — the main document of a project written by its developers. It explains the technology and the project’s goals.

Watchlist

Wаtchlist — a customizable list of cryptocurrencies whose price action an investor wishes to follow.

Workchain

Workchain — secondary chains that connect to the masterchain. They can contain a massive number of different connected chains that have their own consensus rules. They can also contain address and transaction information and virtual machines for smart contracts. Additionally, they can be compatible with the masterchain and interact with one another.


Y

Yield farming

Yield farming — lending or placing cryptocurrencies or tokens in a smart contract to earn rewards in the form of transaction fees.

Yolo

Yolo — “you only live once,” a slang acronym used as a call to live life to the fullest without taking into account the risk of the given endeavor.