Web3 Glossary
Master the language of the decentralized web. Essential terms for navigating the world of crypto e-commerce.
Gas Fee
A transaction fee paid to network miners for processing a transaction on the blockchain.
Read moreNon-Custodial
A wallet or service where the user retains full control of their private keys and funds, without a middleman.
Read moreWallet Connect
An open-source protocol for connecting mobile wallets to decentralized applications (dApps) via QR code.
Read moreTransaction Hash (TxID)
A unique string of characters that identifies a specific transaction on the blockchain.
Stablecoin
A cryptocurrency pegged to a stable asset, usually the US Dollar (e.g., USDT, USDC), to minimize volatility.
Read moreFiat On-Ramp
A service that allows users to exchange fiat currency (USD, EUR) for cryptocurrency.
Merchant
A business or individual that accepts cryptocurrency in exchange for goods or services.
P2P (Peer-to-Peer)
Transactions that occur directly between two parties without the need for a central intermediary.
Smart Contract
Self-executing contracts with the terms of the agreement directly written into code.
Read moreQR Code Payment
A payment method where the payer scans a QR code containing the recipient's wallet address.
Private Key
A secret alphanumeric password that grants access to authorize transactions from a crypto wallet.
Read morePublic Key
A cryptographic code that allows you to receive cryptocurrency transactions. It is safe to share.
Seed Phrase
A list of 12-24 words that store all the information needed to recover a crypto wallet.
Read moreHot Wallet
A cryptocurrency wallet that is connected to the internet, offering convenience for frequent trading.
Cold Wallet
A cryptocurrency wallet that is not connected to the internet, providing the highest level of security.
Read moreMultisig
A wallet that requires multiple signatures (approvals) to authorize a transaction.
2FA
Two-Factor Authentication; an extra layer of security requiring a second form of identification.
Custodial Wallet
A wallet where a third party (like an exchange) holds the private keys on behalf of the user.
Phishing
A cyber attack that uses disguised email or websites to trick users into revealing sensitive information.
Approval
A transaction that gives a smart contract permission to spend a specific amount of tokens from your wallet.
EVM
Ethereum Virtual Machine; the computation engine that acts like a decentralized computer for Ethereum.
Read moreMainnet
The primary blockchain network where actual value transactions take place.
Testnet
A simulation of the blockchain network used for testing without risking real funds.
Layer 1
The base blockchain architecture (e.g., Bitcoin, Ethereum, Solana).
Layer 2
A secondary framework built on top of an existing blockchain to improve scalability and speed.
Read moreNode
A computer connected to the blockchain network that validates and relays transactions.
Block Explorer
A tool to view details of blocks, transactions, and addresses on a blockchain (e.g., Etherscan).
Consensus Mechanism
The process by which nodes on a blockchain agree on the validity of transactions (e.g., PoW, PoS).
RPC URL
Remote Procedure Call URL; an endpoint that allows applications to communicate with the blockchain.
Decentralization
The distribution of authority and control across a network rather than a central entity.
ERC-20
The technical standard for fungible tokens on the Ethereum blockchain.
BEP-20
The token standard for the Binance Smart Chain.
TRC-20
The token standard for the TRON blockchain, popular for low-fee USDT transfers.
NFT
Non-Fungible Token; a unique digital asset that represents ownership of a specific item.
Altcoin
Any cryptocurrency other than Bitcoin.
Market Cap
The total value of a cryptocurrency, calculated by multiplying the price by the circulating supply.
Liquidity
The ease with which an asset can be converted into cash or another asset without affecting its price.
Wrapped Token
A tokenized version of a cryptocurrency that runs on a different blockchain (e.g., WBTC on Ethereum).
Utility Token
A token that provides access to a product or service within a specific ecosystem.
Governance Token
A token that gives holders the right to vote on decisions influencing a blockchain project.
HODL
A slang term for holding cryptocurrency rather than selling it, originating from a misspelling of 'hold'.
FOMO
Fear Of Missing Out; the anxiety that an exciting or interesting event may currently be happening elsewhere.
Slippage
The difference between the expected price of a trade and the price at which the trade is executed.
Bull Market
A market condition where prices are rising or are expected to rise.
Bear Market
A market condition where prices are falling or are expected to fall.
Whale
An individual or entity that holds a large amount of cryptocurrency.
ROI
Return on Investment; a measure used to evaluate the efficiency of an investment.
DeFi
Decentralized Finance; financial services built on blockchain technology without central intermediaries.
Read moreDEX
Decentralized Exchange; a peer-to-peer marketplace where transactions occur directly between crypto traders.