Common crypto terminologies explained for those New to the world of Web3
AI summary of the linked articleThis article is a glossary aimed at newcomers to Web3, defining jargon ranging from informal terms like ape, degen, and WAGMI to technical concepts such as blockchain, gas, layer 1 and layer 2, and the blockchain trilemma. It describes the blockchain trilemma as the challenge of achieving scalability, security, and decentralization at once, and says Ethereum prioritizes security and decentralization over scalability. Rollups are described as bundling multiple transactions and processing them off-chain before sending the result back to the main chain, with optimistic and ZK rollups given as types. The author invites readers to suggest missing terms in the comments. |
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