📚 Glossary: Speak the Language

Decoding the Jargon of EthArena’s World

The realms of gaming and cryptocurrency are rich with specialized language. This glossary aims to demystify these terms for the EthArena community, enhancing understanding and communication.

1. Blockchain and Cryptocurrency Terms

• Blockchain: A digital ledger technology where transactions are recorded chronologically and publicly, foundational to cryptocurrencies.

• Cryptocurrency: Digital or virtual currency secured by cryptography, used as a medium of exchange on platforms like EthArena.

• Smart Contract: Self-executing contracts with the terms of the agreement between buyer and seller directly written into lines of code.

• Wallet: Digital wallets (e.g., MetaMask) used to store, send, and receive cryptocurrencies.

2. Gaming-Specific Terms

• P2E (Play-to-Earn): A gaming model where players can earn real-world rewards, like cryptocurrency, for in-game achievements.

• NFT (Non-Fungible Token): Unique digital assets verified using blockchain technology, often used in games for rare items.

• MMORPG (Massively Multiplayer Online Role-Playing Game): A genre of video games where a large number of players interact within a virtual world.

3. EthArena Specific Terms

• GEX Tokens: The primary in-game currency of EthArena, used for transactions and rewards within the platform.

• ORB3 Network: The specific blockchain network on which EthArena operates, providing security and scalability for the platform.

4. Technical and Security Terms

• Encryption: The process of converting information or data into a code to prevent unauthorized access.

• KYC (Know Your Customer): A process of verifying the identity of clients, essential in financial transactions to prevent fraud.

5. Legal and Regulatory Terms

• AML (Anti-Money Laundering): Legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities.

• GDPR (General Data Protection Regulation): A regulation in EU law on data protection and privacy in the European Union and the European Economic Area.

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This glossary is not exhaustive but covers the fundamental terms that users will encounter while navigating EthArena. For a more comprehensive list and explanations, visit our Hub.