Glossary

TermDefinition
Cold wallet

A device, typically hardware, which contains a user's private keys, proving ownership of assets on the blockchain. Cold wallets are not connected to the internet, which generally makes them a safer option than hot wallets.

DAO

A Decentralized Autonomous Organization (DAO) is an entity where member token holders share the ability to govern, and participate in collective decision making. Proposals and their corresponding votes are posted on the blockchain, and typically viewable my members and non-members alike, allowing for non-heirarchical and transparent governance.

Hot wallet

Software which contains a user's private keys, providing ownership of assets on the blockchain. Hot wallets are connected to the internet, which generally makes them more convenient to use than unconnected cold wallets, however their convenience comes at the cost of safety.

IPFS

The InterPlanetary File System (IPFS) is a peer-to-peer network for storing files, and the system of choice for NFTs to store metadata and images. One of the signature features of IPFS is "content addressing," where URLs are unique, based on the contents of the file, providing user's certainty that the file they are accessing is verified and cannot be changed.

Wallet

The primary tool for accessing assets on a blockchain, a wallet is a piece of software of hardware that stores a user's credentials (public/private cryptographic keys). It is important to note that a wallet does not store the assets itself, rather it proves ownership of items that are stored on the blockchain (e.g., cryptocurrencies, NFTs).