Trustless refers to a system or process that does not require participants to trust any single party or intermediary. In blockchain, it means that security and reliability are ensured through cryptographic protocols and decentralized consensus, removing the need for trust.
Fungible refers to an asset or item that can be easily exchanged or replaced with another of the same kind and value. In the context of cryptocurrencies, fungible tokens like Bitcoin are identical, interchangeable units, each having the same value.
A Profile Picture (PFP) is a digital image that users set as their online avatar or representation on social media, forums, and other digital platforms. In the context of NFTs, PFPs are digital collectibles often used to express identity and community membership.
Cryptocurrency is a digital currency that uses cryptographic technology to secure transactions, control the creation of new units, and verify transfers on a decentralized blockchain network.
A Decentralized Autonomous Organization (DAO) is an organization managed by smart contracts and blockchain-based voting, allowing community members to make decisions collectively without a central authority.
A white paper is an authoritative document that outlines a project's concept, technology, goals, and technical details, often used in the blockchain and cryptocurrency space to introduce and explain new protocols, products, or cryptocurrencies.
A utility token is a type of cryptocurrency that provides users with access to specific services or products within a blockchain-based platform. It is designed to offer functional benefits, such as voting rights, discounted fees, or access to exclusive features.