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Web3 glossary

Censorship Resistance

Censorship Resistance refers to an idea in which no entity is able to prevent anyone from utilizing the network. You might even say that this is the main distinction between cryptocurrencies and centralized entities.

Central Bank Digital Currency (CBDC)

A CBDC is the digital form of a domestic currency. While cryptocurrencies are meant to be decentralized, CBDCs are controlled by a centralized entity such as a central bank. This means that you don’t truly own your assets.

Centralized Exchange (CEX)

A crypto exchange that is operated by a centralized entity. Currently, the biggest centralized exchanges are Binance, Coinbase and Kraken.

Although it allows users to safely exchange their crypto assets, they do not retain full control of their assets on the exchange. Therefore, it’s safer to keep your crypto in a wallet where you personally control your own private keys. Always remember: not your keys, not your crypto.

Cold Wallet

A cold wallet allows you to store your private crypto keys offline, usually on a physical device or on printed paper. Ledger and Trezor are two well known companies that sell cold wallets.


Collateral is something that is locked as a security for a loan incase of a default. In crypto, this can be cryptocurrencies or NFTs. In PoS cryptocurrencies, the native token is usually put up as collateral in order to be eligible for validating transactions.

Consensus Mechanism

You can think of a consensus mechanism as the laws that govern a blockchain. It refers to the underlying system that is used to validate transactions and maintain the security of a blockchain. The two most common consensus mechanisms are proof of work (PoW) and proof of stake(PoS). Each consensus mechanism also has its own advantages and disadvantages.

Content Drift

Content drift occurs when the information you were referencing via a URL changes over time. This can occur if the information on the webpage begins to change, is no longer maintained or the domain is bought by somebody else. If this happens, the link loses its value. With the advent of the Permaweb, this will no longer be an issue.

Copycat NFTs

Copycat NFTs are used to refer to NFT knockoffs. They use a famous collection’s structure but change the theme or specific characteristics. They are usually parodies to poke fun at the original collection.

Creator Economy

Creators, curators, visionaries and _________ being able to monetize their content. If you’d like to store your NFTs or build your project on Akord, we invite you to do so. 

Without you, our work is incomplete.


Essentially, a digital currency that acts as a medium of exchange built on blockchain technology. All transactions of a cryptocurrency are recorded and can be verified through the blockchain. They are intended to be decentralized, borderless and secure.


Cryptography is the process of transferring information through encoding and decoding. In this manner, the information can securely be communicated to its intended recipient.


Cryptojacking is a cybercrime in which an individual’s computer or mobile device is used to mine cryptocurrencies without their consent.

CT (Crypto Twitter)

This term is used to refer to a sub-section of twitter which is used by the crypto community. They use CT to keep up to date with all things crypto, follow influencers (Nadir Dabit, Vitalik Buterin, Balaji) or their favorite crypto projects (Akord).

Curated NFT Marketplaces

Curated NFT marketplaces have an extensive screening process in order to ensure that they only sell the most authentic, highest quality and verified NFTs. Two well known curated marketplaces are SuperRare and Nifty Gateway.

Custodial Wallet

A custodial wallet is managed by a third party such as a CEX. They take custody of your wallet’s private keys and are responsible for protecting your crypto assets that are stored in it. If you truly want to control your crypto, it’s best to keep it in a non-custodial wallet.