Glossary
Web3 and blockchain terms explained in plain English. From ABI to Zero-Knowledge Proofs.
A
ABI (Application Binary Interface) A JSON description of a smart contract's functions. Think of it as the contract's "user manual" that tells other programs how to interact with it.
Airdrop Distributing tokens to multiple wallet addresses at once. Like sending a mass email, but with tokens.
Anti-Bot A feature that prevents automated bots from buying large amounts of a token immediately at launch, ensuring fairer distribution.
B
Block Explorer A website that lets you look up transactions, addresses, and contracts on a blockchain. Examples: Etherscan, Solscan, Mintscan.
Burn Permanently destroying tokens by sending them to an address no one controls. Reduces total supply.
C
Contract Address The unique address where a smart contract lives on the blockchain. Like a website URL, but for a smart contract.
CW20 The token standard on Cosmos chains. Equivalent to ERC20 on Ethereum.
D
Decimals How divisible a token is. 18 decimals means 1 token = 1,000,000,000,000,000,000 smallest units. Most EVM tokens use 18; Solana SPL tokens use 9.
DEX (Decentralized Exchange) A platform for trading tokens without a middleman. Examples: Uniswap, Raydium, Osmosis.
E
ERC20 The standard for fungible tokens on Ethereum and EVM chains. The most common token standard in crypto.
ERC721 The standard for NFTs (non-fungible tokens) on EVM chains. Each token is unique.
ERC1155 A multi-token standard on EVM chains. Supports both fungible and non-fungible tokens in one contract.
EVM (Ethereum Virtual Machine) The runtime environment for smart contracts on Ethereum and compatible chains (Polygon, Arbitrum, Base, etc.).
F
Factory Contract A smart contract that creates other contracts. ChainPortal uses factories to deploy tokens and NFTs efficiently.
Fungible Interchangeable -- each unit is the same as every other unit. Like dollars: one $1 bill is the same as any other $1 bill. Tokens are fungible; NFTs are not.
G
Gas The fee paid to the blockchain network to process your transaction. Measured in the chain's native token (ETH, SOL, MATIC, etc.).
Gas Limit The maximum amount of gas you are willing to pay for a transaction. If the transaction uses less, you get a refund.
I
IPFS (InterPlanetary File System) A decentralized file storage network. Used to store NFT images and metadata permanently.
L
Liquidity Pool (LP) A pool of two tokens deposited into a DEX smart contract. Enables trading between those tokens.
LP Token A token representing your share of a liquidity pool. Lock these to prove you will not remove liquidity.
M
Mainnet The live, production blockchain where real value is transacted. Contrast with testnet.
Metadata Data that describes an NFT -- its name, image, attributes/traits. Stored on IPFS or on-chain.
Mint Creating new tokens or NFTs. The opposite of burning.
Move A programming language used by Aptos and SUI blockchains. Designed for safe asset management.
N
NFT (Non-Fungible Token) A unique digital asset on the blockchain. Each NFT is one-of-a-kind, unlike fungible tokens.
P
Pausable A feature that lets the contract owner temporarily stop all token transfers. Useful for emergencies.
Proxy (Minimal Proxy) A lightweight copy of a smart contract that delegates to a shared implementation. Saves 90%+ on deployment gas.
R
Royalties A percentage of the sale price paid to the original creator every time an NFT is resold.
Rug Pull When a project creator removes all liquidity or abandons a project, crashing the token price. Liquidity locking helps prevent this.
S
Seed Phrase (Recovery Phrase) A 12-24 word phrase that controls your wallet. NEVER share it with anyone. ChainPortal will never ask for it.
Never share your seed phrase. Anyone who has it has full control of your wallet and all its assets — permanently. No legitimate platform, support agent, or Discord moderator will ever ask for it.
Smart Contract A program that runs on a blockchain. Executes automatically when conditions are met. Cannot be changed after deployment.
SPL Token The token standard on Solana. Equivalent to ERC20 on Ethereum.
T
Testnet A practice blockchain for testing. Uses fake tokens that have no real value. Always test on testnet before mainnet.
Token A digital asset on a blockchain. Can represent currency, ownership, voting power, or anything else.
V
Vesting A schedule for releasing locked tokens over time. Common for team tokens and investor allocations.
W
Wallet Software that stores your private keys and lets you interact with blockchains. Examples: MetaMask, Phantom, Keplr.
Whitelist A list of approved addresses. Used to restrict who can buy, transfer, or mint tokens during controlled launches.