A reentrancy attack is a critical smart contract vulnerability that allows a malicious contract to repeatedly call a function in a victim contract before the initial execution is complete
The fall of these exchanges shows that size and popularity do not guarantee safety in crypto. Each collapse exposed weaknesses, whether technical, financial, or managerial, and pushed the industry toward better standards and accountability.
A honeypot scam in Decentralized Finance (DeFi) is a type of fraud where scammers create a seemingly legitimate and attractive investment opportunity (like a new token or a yield farm)
In DeFi, front-running is exploiting knowledge of pending transactions in the blockchain's public mempool (waiting area) to place your own transaction first, often by paying higher gas fees
A multisig (multi-signature) wallet is a digital crypto wallet that requires multiple private keys (signatures) from different people or devices to authorize a transaction, acting like a shared digital safe needing several keys to open
Cold storage in crypto is an offline method for storing your cryptocurrency's private keys, keeping them completely disconnected from the internet to protect against online threats like hacking
A hot wallet is a cryptocurrency wallet that stays connected to the internet, offering convenience for fast transactions, trading, and interacting with decentralized apps (dApps)
Two-factor authentication (2FA) is a security process that requires two distinct forms of identification to log in, adding a second layer of security beyond just a password
An NFT collection's floor price is the lowest asking price for any single NFT within that collection at a given moment, serving as a baseline for entry into the project
The metaverse is a shared, persistent 3D virtual world, and NFTs (Non-Fungible Tokens) are crucial for enabling true digital ownership and economy within it
NFT utility refers to the practical benefits, functions, and real-world value that a Non-Fungible Token provides beyond just being a digital collectible, acting as a key
A PFP (Profile Picture) NFT is a unique digital artwork, like an avatar or character, secured on a blockchain that people use as their identity on social media (Twitter, Discord) and in virtual worlds
NFT metadata is a set of descriptive information about an NFT, typically stored in a JSON file, which includes the name, description, and traits of the asset