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- Web3: Web3 represents a new vision for the internet where power is returned to users through blockchain, cryptocurrencies, and NFTs. It is decentralized, permissionless, has native payment functionality, and operates on a trust-minimized model.
- Blockchain: A blockchain is a highly secure and decentralized network where data, value, and transactions are stored across a shared ledger without control by a centralized entity. It serves as the settlement layer for Web3.
- Cryptocurrency: Cryptocurrencies are digital tokens that leverage the secure and tamper-proof environment of blockchain networks. They serve as the native currency for Web3 decentralized applications (dApps) and can be used for payments and participation in governance within Web3 ecosystems.
- Smart Contracts: Smart contracts are immutable programs on the blockchain that execute transactions automatically based on predefined conditions. They enable the creation of decentralized applications (dApps) that operate without a central authority.
- NFT (Non-Fungible Token): NFTs provide verifiable ownership of digital assets, giving these digital goods the same uniqueness as physical assets. They are significant for digital art, metaverse applications, and gaming.
- Airdrop: An airdrop in the cryptocurrency world is a marketing strategy where "free" cryptocurrency tokens are sent directly to users' wallets to raise awareness of a new platform or token and to incentivize early adoption.
- DApp (Decentralized Application): DApps are applications that run on a decentralized blockchain network. They are not operated by any single entity but are instead governed by the community of users who hold the associated cryptocurrency.