Blockchain & NFT Glossary

NFT (Non-Fungible Token/Forever Giving Certificate) 
A unique digital item stored on the blockchain, proving ownership and authenticity. 

Minting (Creating/Buying) 
The process of creating a new NFT and registering it on the blockchain. 

Drop (Collection Release) 
The release of a new collection of NFTs at a specific date and time. 

Floor Price (Reserve Price) 
The lowest available price to buy an NFT within a collection. 

Primary Market (Collection Releases) 
The initial sale of NFTs directly from creators to buyers. 

Secondary Market (Secondary Sales) 
Where NFTs are resold among users after the initial purchase. 

Gas Fees (Transaction Fees) 
Transaction fees required to process actions on a blockchain. 

Royalties (Donations) 
Payments creators receive each time their NFTs are resold. 

Smart Contract (Contract of Ownership) 
Code that automatically manages transactions and ownership rules on the blockchain. 

Whitelist (Waiting List) 
A pre-approved list of buyers allowed early access to NFT sales. 

Metadata (Art Description) 
Additional data that describes an NFT (e.g., image link, creator, description). 

Edition 
A limited number of identical NFTs released by the creator. 

Blockchain 
A secure, public digital ledger that records transactions permanently. 

Distributed Ledger 
A shared, decentralized database maintained across multiple computers worldwide. 

Block 
A group of transaction data stored on the blockchain. 

Node 
A computer connected to the blockchain network helping to keep it secure. 

Validator 
A blockchain participant responsible for verifying transactions. 

Consensus 
The method used by blockchains to agree on transaction validity. 

Seed Phrase (Recovery Phrase) 
A series of words used to recover or restore blockchain wallets. 

Private Key 
A secret key used to securely access your cryptocurrency or NFTs. 

Public Address 
Your wallet's public identifier where others can send crypto or NFTs. 

Decentralised Applications 
Applications built on blockchain, running without central control. 

Web3 
A decentralized internet built using blockchain technology. 

dApp (Decentralised Application) 
Applications running on blockchain, without central control. 

DAO (Decentralised Autonomous Organisation) 
A community-led organization managed through blockchain-based voting. 

Metaverse 
A virtual world or environment accessed via blockchain technology. 

Cryptocurrency 
Digital money secured by blockchain. 

Altcoin 
Any cryptocurrency other than Bitcoin. 

Stablecoin 
Cryptocurrencies pegged to stable assets like USD, maintaining steady value. 

Token 
A digital asset created and managed on a blockchain. 

ERC-721 
A standard for NFTs on Ethereum blockchain. 

ERC-20 
A common standard for creating cryptocurrency tokens. 

ERC-721 
A blockchain standard used specifically for NFTs. 

ERC-20 
Ethereum standard for fungible tokens (like cryptocurrencies). 

DAO (Decentralised Autonomous Organisation) 
An organization run transparently by code, not traditional management. 

dApp (Decentralised Application) 
Blockchain-based application operating without central control. 

Stablecoin 
Crypto designed to minimize price fluctuations. 

Liquidity 
Ease of buying or selling assets quickly without significant price impact. 

Seed Phrase (Recovery Phrase) 
Series of words that restore wallet access. 

Hardware Wallet (Cold Wallet) 
Offline device securely storing crypto and NFTs. 

Metadata 
Descriptive details of an NFT.