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.