# Glossary of Terms

**Blockchain**

A system of recording information in a decentralized manner, making it difficult or impossible to change or hack.

**Custodial**

A trusted entity stores and holds cryptographic keys that provide access to assets on behalf of the consumer.

**Cryptocurrency**

A form of digital currency created by solving a complex series of cryptographic equations. Once minted, the crypto exists on a blockchain and is decentralized, meaning it is not controlled by a singular entity like traditional currencies. (e.g., Bitcoin and Ethereum)

**Crypto Exchange**

A marketplace to buy and sell assets/currencies. (e.g., Coinbase)

**Ethereum**

A decentralized, open-source blockchain with smart contract functionality.

**Fiat Currency**

A government-issued currency that is not backed by a commodity such as gold. Fiat money gives central banks control over the economy because they can control how much money is in circulation.

**Fintechs**

Refers to the integration of technology into offerings by financial services companies to improve their use and delivery to consumers.

**Universal Blockchain (USBT) Token and NFT (Non-Fungible Token)**

Tokens that are tied to and/or represent ownership of an underlying media asset.

**Flow**

A blockchain that allows developers to create and trade a particular type of digital asset called a non-fungible token.

**Fungibility**

Something that is replaceable or exchangeable. (e.g., gold or silver)

**Blockchain Transaction Fees**

Forms of payment to the miners or stakeholders who help operate the blockchain.

**Non-custodial**

The consumer is responsible for storing the cryptographic keys that control the tokens themselves.

**Non-Fungible**

Something that is unique and irreplaceable (e.g., autographed item).

**OpenSea**

The first and largest marketplace, similar to eBay for Universal Blockchain (USBT) Token and NFTs, with millions of assets organized into hundreds of categories for user-owned digital goods, including collectibles, gaming items, digital art, and domain names.

**Tokenization**

The process of turning a meaningful piece of data, such as an account number, into a random string of characters called a token that has no meaningful value if breached.

**Stablecoin**

A new class of utilities and Blockchain Leaders based cryptocurrencies that attempts to offer price stability and is backed by a reserve asset.

**SuperRare**

A marketplace to collect and trade unique, single-edition digital artworks.

**Smart Contract**

Computer code that executes simple if/then functions.

**Metaverse**

A virtual-reality space in which users can interact with a computer-generated environment and other users.

**API**

A set of functions and procedures allowing the creation of applications that access the features or data of an operating system, application, or other service.

**White Label**

When a product or service removes their brand and logo from the end product and instead uses the branding requested by the purchaser.