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Web3 Encyclopedia

ZEP NEWS & GUIDES
ZEP NEWS & GUIDES

Web3 Encyclopedia

🪙Token

Wallet

In a blockchain, a wallet is a management program for virtual assets that has an address and can process transactions. Multiple addresses can be managed from one wallet.

The wallet is often created and used according to the type of used network. Unlike an actual wallet used in real life, it contains a public and a private key. While the public key is similar concept with an account number, the private key is similar to an account password, and thus should never be shared or lost.

※ZEP never asks users for their private keys※

Token

A type of cryptocurrency that allows users to transfer assets within a digital environment. It can be largely divided into native tokens (ex: ETH, BNB, MATIC), which are used as gas costs incurred during transactions, and custom tokens.

Gas Fee

A fee is paid per unit of operation (gas) when sending a transaction. Transaction fees are usually determined by this gas rate and the amount of gas required. The shorter and more complex a transaction gets, the more expensive it is.

Contract Address

Refers to the address hosting a collection of code on certain blockchains that execute functions. These functions of a contract address are executed when a transaction with associated input data (contract interaction) is made to it.

Governance

Refers to the making decisions based on votes by investors who hold the project coins, not by founding members of the project. It can be seen as the same concept as a corporation's resolution on the agenda at a general shareholders' meeting.

👾Digital Asset

Digital Asset

A digital asset is each given a different value, as every digital asset contains a unique nature. Although it utilizes blockchain technology, it gives digital assets a unique recognition value, making them non-replaceable.

Holder

One who owns the digital asset.

Minting

Refers to generating digital assets of digital assets such as pictures and videos, by that means, issuing cryptocurrency on a blockchain. When a minting process occurs, non-replaceable unique asset information is given to the corresponding digital content.

Whitelist

A list of people who are primarily given priority rights for cryptocurrency listing (ICO, IFO, IDO) or digital asset purchases. They are given the right to purchase earlier and more comfortably. Many digital asset projects often use this as a method to promote certain projects or revitalize communities.

Airdrop

Free compensation is provided to existing Token or digital asset holders, which is often conducted for the purpose of appeasing the complaints of holders or promoting projects.

AMA (Ask Me Anything)

A Q&A session is held by project developers or managers to ask questions and give answers along with holders owning their digital asset. Depending on what kind of information comes and goes during the session, the value of the project may soar or plunge.

Floor Price

The lowest selling price of an digital asset project. For example, if the floor price is 1,000 USDC, a possible buyer should hold at least 1,000 USDC in his wallet. There are cases where the floor price is silently lowered due to a lack of demand.

Bidding

Offering the price first to purchase a wanted digital asset.

👥DAO

DAO (Decentralized Autonomous Organization)

An automated horizontal organization based on blockchain smart contracts. The key advantage is that the decision-making process is transparent and rewards are distributed relatively fairly. Though risks such as hacking attacks, low governance participation rates, and potential regulations exist, DAO is still widely considered an innovative organization that is expected to show exponential growth in various fields.