All the words you need to know to talk about blockchain and metaverse

B

Blockchain: technology which makes it possible to record but also to transmit information online. This chain of data, assembled as soon as they are verified, is encrypted but its operation and its rules are 100% transparent, secure and without a centralized control body.

VS

Cryptocurrency: virtual currency that is only used on the internet, such as bitcoin for example. To guarantee the security of the various transactions, it uses the blockchain. Note that cryptocurrency is independent and does not depend on banks.

D

Disruptive: it says something that disturbs, breaks, breaks with the existing. For example, a technological innovation can be disruptive if it replaces an already existing important technological device.

E

Industrial spying : type of espionage that we observe in the commercial sector. It has the particularity of targeting the economy and the industry of a company and not security. For example, the theft of information regarding manufacturing data.

F

Decentralized Finance (DeFi): set of applications that aim to make the population independent of banks, insurance companies, etc. When it was created, decentralized finance concerned the Ethereum cryptocurrency, or smart contracts.

fintech: set of innovative and digital financial services. Fintech includes mobile payment, online banking, crowdfunding devices, etc. It is aimed at both businesses and individuals.

I

Economic intelligence : technique for collecting data in a company, in a structured way. This data will then be disseminated according to the needs of its user.

M

Metavers: immersive virtual universe, designed in 3D, in which users can interact through their avatars.

Fiat currency: currency whose value is fixed by a government, a state or a legal institution. This is the case of the euro, the American dollar or even the Chinese yen.

NOT

NFT (Non-Fungible Token): digital token that acts as a certificate of ownership. It allows an individual to hold a non-fungible object like a work of art, video content, music, etc. Non-fungible, means it cannot be exchanged for something of the same value.

S

Smart contracts: software belonging to the universe of the blockchain, which does not govern any legal authority but the computer code.

Staking: technique which consists, for a user, in blocking part of his cryptocurrency. The blocked sum will be used for various operations within the framework of a blockchain such as improving data security.

T

Traceability: technique which consists in determining the origin of a product, from its creation to its production.

Trusted third party : person or organization authorized to carry out legal security operations of authentication but also of transmission and storage. For example, companies can use an organization as a trusted third party to set up an electronic signature system.

We wish to say thanks to the author of this post for this outstanding material

All the words you need to know to talk about blockchain and metaverse


Our social media pages here and other related pages herehttps://metfabtech.com/related-pages/