Glossary

Some of the widely used words in the Blockchain ecosystem are as

follows:

5G: 5th generation mobile network

API: Application programming interface

BFSI: Banking, financial services, insurance sectors

BTC: Bitcoin

CBDC: Central bank digital currency

Crypto: cryptocurrency

Cryptography: A field of science that deals with secure

communication using some enigmatic code that any third party can’t

decipher

DAG: Directed Acyclic Graph

DAML: Digital Asset Modelling Language or DAML which is an open

source programming language for 10x faster development with smart

contracts

DApp: Decentralized Application

DDoS: Distributed denial of service

DeFi: Decentralized Finance

DEX: Decentralized exchange or marketplace where peer-to-peer

trading occurs between crypto traders

DLT: Distributed Ledger Technology

FIAT: Traditional currency (e.g. US Dollar, Euro) issued by the

government

ICO: Initial Coin Offering

IoT: Internet of Things

KYC: Know Your Customer

OTP: One time password