Glossary

Blockchain: A distributed ledger technology that maintains a secure and decentralized record of transactions across a network of computers.

ERC20: A standard for creating fungible, interchangeable tokens on the Ethereum blockchain. These tokens have identical properties and values.

ERC404: A proposed standard for creating non-fungible tokens (NFTs) on the Ethereum blockchain, where each token has unique properties and values.

Ethereum: A decentralized, open-source blockchain system that features smart contract functionality.

Fungible Tokens: Digital assets that are identical and can be interchanged with other tokens of the same type.

Gas Fees: Payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain.

Liquidity: The ability to quickly buy or sell an asset without causing a significant change in its price.

Liquidity Pools: Collections of funds locked in a smart contract that provide liquidity for trading pairs on decentralized exchanges.

LP Tokens (Liquidity Provider Tokens): Tokens given to users who supply liquidity to a pool, representing their share of the pool.

Non-Fungible Tokens (NFTs): Digital assets that are unique and cannot be exchanged on a one-to-one basis with other tokens.

Smart Contracts: Self-executing contracts with the terms of the agreement directly written into code, which automatically execute when conditions are met.

Tokenomics: The economic principles and considerations that govern the issuance, distribution, and management of a cryptocurrency or token.

Wallet: A digital tool that allows users to store, send, and receive cryptocurrencies and tokens.

Whitelist: A list of addresses that are given exclusive rights or privileges, such as participating in a token sale or accessing certain features of a platform.

By understanding these key terms and concepts, users can better navigate the ForgeAI platform and the broader blockchain ecosystem.