Glossary

Is Cryptocurrency a Good Investment: Should I Invest in Crypto?

TL;DR Introduction There is this urban legend of an old couple that has apparently converted their retirement fund into Bitcoin and now roams around asking people how to retrieve their crypto with a secret phrase handed over to them by their investment advisor. This leads us to

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Metaverse

Metaverse is a 3D virtual world replicating real-life experiences for users, like shopping, meeting friends, working, and more. Users can interact with their digital avatars in the metaverse and even create and share assets as NFTs.

NFT

NFT refers to Non-Fungible (irreplaceable) Tokens. Bitcoin is fungible; the value of 1 Bitcoin is the same as the value of any other Bitcoin. However, that is not the case for artworks like music; NFTs represent their ownership on the blockchain.

WEB 3.0

Web 3.0 is the third generation of the internet, an upgrade to the existing web 2.0. It is argued that in web 2.0, a few tech giants control the internet, and web 3.0 aims to take away that control from them and transfer it to the public.

DAO

DAO refers to Decentralised Autonomous Organization; they are companies built on blockchain. Unlike traditional organisations, there is no hierarchy in DAOs; all decisions are made after a vote from all the members of the DAO.