Web3 glossary
Term
Definition
ICO - Initial Coin Offering

You can think of ICOs as a crowdfunding method where investors are able to purchase “tokens” by investing into a project. It was the most common method in order to raise capital for cryptocurrency projects during the ICO boom of 2017.

IEO (Initial Exchange Offering)

IEOs are a similar funding mechanism to ICOs, however with one fundamental difference. In IEOs, exchanges do their due diligence by vetting the project and acting as the middleman between the project and investors. IEOs have become popular due to the security and trust provided by reputable exchanges.

Immutable

One of the defining features of a blockchain. Immutable generally means that something is unalterable after creation. Therefore blockchains are immutable as they provide a permanent, long lasting and unmodifiable history of transactions.

The same thing applies to your most valuable data once it’s uploaded to Akord. If you’d like to test it for yourself, you can get 250 MB of free permanent storage.

Inflationary

A cryptocurrency is described as inflationary when its circulating supply is increasing over time. This can happen through different mechanisms such as mining rewards, staking rewards, or a set release schedule. Assuming demand remains constant, the increase in supply will cause downward pressure on its price.

IPFS

The InterPlanetary File System (IPFS) developed by Protocol Labs is, as stated on their website, “a distributed system for storing and accessing files, websites, applications and data”.

To learn more, check out Arweave vs IPFS & Filecoin.