Web3 is a young and evolving ecosystem. Gavin Wood coined the term in 2014, but many of these ideas have only recently become a reality. In the last year alone, there has been a considerable surge in the interest in cryptocurrency, improvements to layer 2 scaling solutions, massive experiments with new forms of governance, and revolutions in digital identity.
We continue with our dictionary of Crypto / NFT slang.
A non-fungible token (NFT) is an irreplaceable unit of data stored on a blockchain, a form of digital ledge, which can be sold and traded.