# Glossary of Terms

Bitcoin:

A type of digital currency that  is created, distributed, traded,  and stored with the use of a  decentralized ledger system,  known as a blockchain.

Blockchain:

A system of recording information  in a way that is decentralized and  makes it difficult or impossible to  change or hack.

Custodial:

A trusted entity stores/ holds  cryptographic keys that provide  access to assets on behalf of  the consumer.

Cryptocurrency:

A form of digital currency created  by solving a complex series of  cryptographic equations. Once  “minted”, the crypto exists on a  blockchain and is decentralized,  meaning it is not controlled by a  singular entity the way all traditional  currencies are.

(e.g., Bitcoin and Ethereum)

Crypto Exchange:

A marketplace to buy and sell  assets/currencies. (e.g., Coinbase)

Ethereum:

A decentralized, open source  blockchain with smart  contract functionality.

Fiat Currency:

A government-issued currency  that is not backed by a commodity  such as gold. Fiat money gives  central banks control over the  economy because they can control  how much money is in circulation.

Fintechs:

Refers to the integration of  technology into offerings by  financial services companies in  order to improve their use and  delivery to consumers.

Rickys (RKS) Token (Non-Fungible Token):  Tokens that are tied to and/  or represent ownership of an  underlying media asset.

Fungibility:

Something that is replaceable or  exchangeable. (e.g., gold or silver)

Blockchain Transaction Fees:  Forms of payment to the miners  or stakeholders who help operate  the blockchain.

Nifty Gateway:

Started in 2017, the self-described  “premier marketplace for Nifties”  is home to some of the world’s  top creators.

Non-custodial:

The consumer is responsible for  storing the cryptographic keys that control the tokens themselves.