Web 3.0 is the internet era of ownership. The typical characteristics is that a web 3.0 context is a place where you can own and trade digital assets, on site or on public platforms. In comparison, Web 1.0 was only read, web 2.0 was read/write/buy.
An immutable data base, saving data in a sequential ”chain” of cryptographic secured blocks. The data is saved by establishing consensus from a number of nodes/servers. Early versions are energy consuming, while novel solutions have a close to zero CO2 emission.
Non Fungible Token, a non-replaceable digital asset with a unique cryptographic ID and physical ownership. Compared to crypto currency, which is a ”fungible token” – 1 Bitcoin can be exchanged to another Bitcoin, a fungible asset with unique ID and physical ownership.
A digital asset connected to a painting, video clip, car, house, image or other product that have a digital ownership tied to a token (NFT). Can basically be anything digital or physical of value.
Crypto assets are crypto currency like Bitcoin, Ether or an NFT. Crypto is referring to an asset saved on a blockchain, protected by a cryptographic algorithm.
Fiat currency is an expression referring to common money in a currency like USD, Euro, SEK
A metaverse is a virtual world in 2D or 3D, where you can spend time, meet people, buy things, experience happenings and live a digital life. Can be Web 2.0 or Web 3.0 based. For example: Roblox, The Sandbox, Decentraland, Second Life.
Machine Learning / Artificial Intelligence is an algorithm based solution used to solve specific tasks based on a given set of data in known contextual premises. The solution has a learning component, refining optimizing the outcome to meet a specific objective.
Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. These actions could include releasing funds, registering a vehicle, change ownership of tokenized assets or issuing tickets. The blockchain is then updated with the new information.