Glossary

What Really Went Wrong With FTX?

You must be hearing all about FTX’s fall from grace. And if you are a crypto investor and enthusiast, this has probably sown some fear in your mind regarding the future of crypto. But we’re here to answer all the important questions surrounding the incident and 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.