Table 1.

Glossary of key terms in blockchain and NFTs

Term	Description
Blockchain	A decentralized ledger of all transactions across a network
Cryptography	A method of protecting information by transforming it into an unreadable format
Decentralization	The distribution of functions and powers away from a central authority
Immutable	Unchanging over time or unable to be changed
Metadata	Data that provides information about other data
Minting	The process of creating a new NFT
Non-fungible token (NFT)	A type of digital asset representing ownership of a unique item or piece of content, usually stored on a blockchain
Proof-of-stake	An alternative to proof-of-work, where participants prove ownership of a certain amount of cryptocurrency
Proof-of-work	A consensus algorithm used in blockchain where participants solve complex mathematical problems
Public/private key	A cryptographic system that uses pairs of keys: public keys (known to everyone) and private keys (kept secret)
Smart contract	Self-executing contracts with the terms of the agreement directly written into code
Tokenize	The process of converting rights to an asset into a unique digital representation on a blockchain