07 · GLOSSARY

Crypto Glossary

Short explanations of common words you may encounter when reading about tokens, wallets and blockchain transactions.

Blockchain

A shared digital ledger that records transactions according to the rules of a network.

Contract address

The blockchain address of a smart contract. Often used to identify a specific token.

DEX

A decentralized exchange that allows users to trade assets through blockchain smart contracts.

Gas / network fee

A fee paid to the network for processing a blockchain transaction.

Liquidity

Assets available in a market or pool that help make trading possible.

Private key

A secret cryptographic key that can authorize activity from a wallet. It should never be shared.

Seed phrase

A recovery phrase used to restore access to a wallet. Anyone with it may be able to control the wallet.

Slippage

The difference between an expected trade price and the price at which the trade executes.

Token

A digital asset represented on a blockchain network.

Transaction hash

A unique identifier used to find a specific blockchain transaction in an explorer.

Wallet

Software or hardware used to manage blockchain addresses and authorize transactions.

Wallet approval

Permission you give through a wallet for a blockchain action. Read approval details carefully.