Glossary of Terms

This glossary provides definitions for key terms related to NFTs, blockchain technology, and aspects of Philippine culture. Understanding these terms will enhance your comprehension and appreciation of the TatakJuan project and its mission.

• NFT (Non-Fungible Token): A digital asset that represents real-world objects like art, music, game items, and videos, sold and bought online, generally with cryptocurrency. Each NFT has a unique identifier that makes it distinct and non-interchangeable, verifying its ownership and authenticity using blockchain technology.

• Blockchain: A decentralized digital ledger that records transactions across many computers in a manner that prevents subsequent alteration. Blockchain serves as the foundational technology for cryptocurrencies and NFTs, ensuring security, transparency, and immutability.

• Ethereum: A decentralized, open-source blockchain system that features smart contract functionality. Ethereum is the platform of choice for many NFT projects, including TatakJuan, due to its robust ecosystem and support for NFT standards like ERC-721 and ERC-1155.

• ERC-721: A standard for creating unique, non-fungible tokens on the Ethereum blockchain. ERC-721 tokens are distinguishable from each other, making them ideal for representing individual pieces of digital art or collectibles.

• ERC-1155: A token standard that enables a single contract to represent both fungible and non-fungible tokens. This flexibility allows for the efficient creation of complex assets like collections of unique items or items that should be grouped together.

• Smart Contract: Self-executing contracts with the terms of the agreement directly written into lines of code. Smart contracts automate the execution of agreements on the blockchain, enabling trustless transactions and interactions.

• Gas Fees: Transaction fees on the Ethereum network, paid by users to compensate for the computing energy required to process and validate transactions on the blockchain. Gas fees vary based on network demand.

• Juan Pezo: A visionary initiative by the TatakJuan project to develop the first Philippine cryptocurrency aimed at facilitating trade of goods and services within the TatakJuan universe and attending cultural events.

• Barong Tagalog: The national dress of the Philippines for men, characterized by its lightweight, embroidered fabric, and worn over an undershirt. It is a symbol of Filipino pride and craftsmanship.

• Kubing: A traditional Filipino musical instrument also known as a jaw harp. Made from bamboo, it produces sound when the player breathes through it while plucking the instrument's tongue.

• Luzon, Visayas, Mindanao: The three primary geographical divisions of the Philippines, each with its own distinct cultures, languages, and traditions, reflecting the diverse heritage of the Filipino people.

• Sugidanon: Epic narratives from the Panay region of the Visayas, part of the rich oral literature of the Philippines, telling tales of ancient heroes, deities, and the quests and battles that define their legacies.

Understanding these terms is crucial for engaging with the TatakJuan project and appreciating the intricate blend of technology and cultural preservation it represents.