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concepts/consensus-algorithm.md
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# Consensus Algorithm # Consensus Algorithm
A mechanism by which data is syncronized across computer and kept in a consistent state. A mechanism by which data is synchronised across computer and kept in a consistent state.
## Proof of Work ## Proof of Work
An algorithm where blocks in the blockchain are validated by the consumption of physical resources (energy, compute cycles) to solve hash-function inversion problems to create a global sortition function.
## Proof of Stake ## Proof of Stake
An algorithm where blocks in the blockchain are validated by the staking of on-chain assets to provide a weighted global sortition function where virtual wealth corresponds to probabilistic governance.
## Proof of Authority ## Proof of Authority
An algorithm where blocks in the blockchain are validated by a closed and fixed set of pre-selected authorities which confirm transactions via quorum voting. Often uses mechanisms from classical computer science algorithms such as Paxos and Raft.
## Proof of Space ## Proof of Space
An algorithm where blocks in the blockchain are validated by the consumption of digital resources such as random access memory or disk space. The global sortition functions weighted based on the size and availability of these digital space resources.
## Hashgraphs

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concepts/crypto-exchange.md
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# Crypto Exchanges # Crypto Exchanges
A corporate entity that acts as an interemdiary between people to exchange currency for crypto assets. See [[market-manipulation]]. A corporate entity that acts as an interemdiary between people to exchange currency for crypto assets. See [market-manipulation](market-manipulation.md).

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concepts/cryptoasset.md
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# Crypto Asset # Crypto Asset
A digital asset that is traded on a [[blockchain]]. A digital asset that is traded on a [[blockchain]].
## Comparables
* Zero-coupon perpetual bond
* Unspendable currency
* [equity](concepts/security.md) with no cash flows or dividends
* Commodity with no use value
* Exchange traded pyramid schemes
* Derivative contract with no underlying?
* [libertarianism](ideologies/libertarianism.md) performance art

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concepts/currency-peg.md
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# Currency Peg

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concepts/currency.md
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# Currency # Currency
Money is any item or verifiable record that is accepted as payment for goods and services and repayment of debts and payment of national obligations, such as taxes, in a particular jurisdiction. Issued by a [[central-banks]]. Money is any item or verifiable record that is accepted as payment for goods and services and repayment of debts and payment of national obligations, such as taxes, in a particular jurisdiction. Issued by a [central-banks](central-banks.md).
## Properties ## Properties

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concepts/ico.md
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# Initial Coin Offerings # Initial Coin Offerings
Initial coin offerings are proxy [[securities|equity]] fundraising structure that allows enterpeuers to raise crypto assets in a common enterprise outside of existing securities regulation. Initial coin offerings are proxy [equity](security.md) fundraising structure that allows enterpeuers to raise crypto assets in a common enterprise outside of existing securities regulation.
## Citations ## Citations

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concepts/introduction.md
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# Introduction # Introduction
[[web3]] is a huge phenomenon but it can be hard to make sense of. We’re launching this collaborative initiative to address this. This page serves as a spine for all concepts related to the topic. [web3](web3.md) is a huge phenomenon but it can be hard to make sense of. We’re launching this collaborative initiative to address this. This page serves as a spine for all concepts related to the topic.
## Economics ## Economics
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* [ransomware](ransomware.md) * [ransomware](ransomware.md)
* [smart-contracts](smart-contracts.md) * [smart-contracts](smart-contracts.md)
* [stablecoin](stablecoin.md) * [stablecoin](stablecoin.md)
* [mining](mining.md)
## Regulation ## Regulation
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## Ideologies ## Ideologies
* [market-fundamentalism](market-fundamentalism.md) * [market-fundamentalism](/ideologies/market-fundamentalism.md)
* [austrian-economics](austrian-economics.md) * [austrian-economics](/ideologies/austrian-economics.md)
* [libertarianism](libertarianism.md) * [libertarianism](/idelogies/libertarianism.md)
* [technosolutionism](technosolutionism.md) * [technosolutionism](/ideologies/technosolutionism.md)
* [keynsian-economics](keynsian-economics.md) * [keynsian-economics](/ideologies/keynsian-economics.md)

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concepts/nft.md
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# Non Fungible Token # Non Fungible Token
A type of [[smart-contracts]] that associates a tradable [[cryptoasset]] with a unique piece of data, often a url to hosted image representing some abstract or percieved notion of ownership in art. A type of [smart-contracts](smart-contracts.md) that associates a tradable [cryptoasset](cryptoasset.md) with a unique piece of data, often a url to hosted image representing some abstract or percieved notion of ownership in art.

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concepts/smart-contracts.md
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# Smart Contracts # Smart Contracts
A unit of programmable logic that is stored on a [[blockchain]] and executed as part of a [[consensus-algorithm]]. A unit of programmable logic that is stored on a [blockchain](blockchain.md) and executed as part of a [consensus-algorithm](consensus-algorithm.md).
## Examples: ## Examples
* ERC20 * ERC20
* [[dao]] * [dao](dao.md)
* [[ico]] * [ico](ico.md)
* [[AMM]] * [AMM](AMM.md)
* [[DEX]] * [DEX](DEX.md)

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concepts/stablecoin.md
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# Stablecoin # Stablecoin
A crypto asset that is pegged ([[currLency-peg]]) to a real world [currency](currency.md) such as the dollar or euro. Stablecoins may be issued on multiple [blockchain](blockchain.md). A crypto asset that is pegged ([currLency-peg](currLency-peg.md)) to a real world [currency](currency.md) such as the dollar or euro. Stablecoins may be issued on multiple [blockchain](blockchain.md).

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concepts/web3.md
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# Web3 # Web3
An umbrella marketing term for a variety of endeveaours to integrate [[cryptoasset]], [[nft]], [[dao]], [[defi]] and [[smart-contracts]] into existing internet infrastructure. An umbrella marketing term for a variety of endeveaours to integrate [cryptoasset](cryptoasset.md), [nft](nft.md), [dao](dao.md), [defi](defi.md) and [smart-contracts](smart-contracts.md) into existing internet infrastructure.
## Citations ## Citations

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concepts/zero-sum-game.md
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An economic game in which involves two sides and where the result is an advantage for one side and a loss for the other. The sum of all gains and losses across all players sums to zero. An economic game in which involves two sides and where the result is an advantage for one side and a loss for the other. The sum of all gains and losses across all players sums to zero.
Investing in crypto tokens is neccesarily a zero sum games before considering the cost of transactions and network maintenance. Investing in crypto tokens is necessarily a zero sum games before considering the cost of transactions and network maintenance.
## Negative Sum Games
An economic game where all gains and losses across all players sums to a negative quantity.