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    • How to get a Web3 Wallet?
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    • FAQ
    • Web3 Glossary

    Web3 Glossary

    The Web3 industry involves numerous specialized terms. We've consolidated essential platform-related terminology here as a reference, and will expand this resource as needed.

    1. About Web3#

    Web3 (also known as the decentralized internet) refers to the next-generation internet built on blockchain technology. Unlike Web 1.0 and Web 2.0, Web 3.0's core characteristics establish a user-centric trusted value network, emphasizing user autonomy and decentralization. It restores power to users through blockchain, cryptocurrencies, and non-fungible tokens (NFTs) by granting verifiable ownership.

    2. About Web3 Wallet#

    A Web3 wallet serves as digital storage for NFTs, cryptocurrencies, and other digital assets. While functionally similar to conventional crypto wallets, Web3 wallets feature enhanced capabilities for interacting with decentralized applications (DApps). Additionally, certain Web3 wallets are specifically engineered for compatibility with individual blockchains or optimized NFT storage.
    Web3 wallets fall into two distinct categories: Cold Wallets and Hot Wallets.
    Cold wallets (hardware wallets) are physical devices designed for offline storage of digital assets. Typically used by long-term investors who do not conduct daily transactions and prioritize maximum security for their holdings. As these wallets remain offline most of the time, they are significantly less vulnerable to fraud and hacking.
    Software wallets, known as hot wallets, vary functionally across applications. These are always internet-connected DApps, generally accessible through smartphone apps or web browsers. While this connectivity increases exposure to hacking risks, they provide a practical solution for active traders. Hot wallets also feature user-friendly interfaces, contributing to their popularity among new traders and investors.

    3. About Token#

    Token is a digital asset on the blockchain that possesses certain value, functionality, and rights. It differs from native cryptocurrencies (such as ETH, BTC, SOL, etc.) and is typically issued on existing blockchain networks (like Ethereum, Solana, BSC, etc.). Tokens can serve various purposes, including:
    a. Paying for goods and services,
    b. Fundraising,
    c. Governance within Decentralized Autonomous Organizations (DAOs).
    Tokens are generally created and managed through smart contracts, which are automated execution codes running on the blockchain. Smart contracts can be programmed to enforce a variety of rules and conditions related to the use and distribution of tokens, such as: Limiting the total supply of tokens,Requiring specific conditions to be met before tokens can be transferred.

    4. About USDT#

    Tether, denoted as USDT, is a digital currency issued by Tether Limited. Its full name, Tether USD, identifies it as a USD-pegged stablecoin.
    What is the use of USDT? It is a digital currency that is not subject to bank controls or restrictions, serving as a medium of exchange between Bitcoin and fiat currencies like the US dollar.
    The specific transaction process is as follows: First, you purchase USDT with fiat currency, then use USDT to buy or sell Bitcoin, and finally convert USDT back into fiat currency. USDT plays this intermediary role, and based on the original intent behind its creation, it is a stablecoin whose price should theoretically always equal 1 US dollar.
    It operates on blockchain networks (most commonly BEP20, TRC20, ERC20, etc.). Unlike Bitcoin, which experiences significant price fluctuations, the core purpose of USDT is to function as a digital dollar. Many people use it as digital cash in their wallets for purposes such as cross-border transfers, receiving payments, and purchasing services.

    5. About NFT#

    NFT, short for Non-Fungible Token, is a unique digital token on the blockchain that represents ownership or proof of authenticity. Unlike traditional fungible tokens such as Bitcoin and Ether, NFTs are unique and irreplaceable, with each NFT being one-of-a-kind. Examples include digital art, video game items, or music albums.
    NFTs are created using blockchain technology, which provides a secure and decentralized way to verify the ownership and authenticity of assets. Each NFT contains a unique digital signature that serves as proof of ownership. It can record and process complex data objects with multiple attributes on the blockchain. This allows each NFT to include rich metadata, such as the creator of the artwork, the creation time, ownership history, and more. All this information is permanently recorded on the blockchain, ensuring transparency and immutability of the data.
    In the future, the platform will support rewarding with NFTs based on its strategy.

    6. About Gas Fee#

    Gas fees are transaction fees paid by users of a blockchain network to compensate the nodes that process and validate transactions on the network. Gas fees are paid in the blockchain network's native cryptocurrency and are typically calculated based on the complexity and size of the transaction being executed.

    7. What is a Blockchain Network?#

    A blockchain network is a decentralized digital ledger used to record and store transactions across a network of computers. Each computer in the network, known as a node, maintains a copy of the ledger, which is updated and synchronized with every new transaction.
    The primary characteristic of a blockchain network is its decentralization, meaning there is no central authority or intermediary controlling the network. Transactions on the network are verified through consensus mechanisms, such as Proof of Work (PoW) or Proof of Stake (PoS). These mechanisms ensure that all transactions are valid, traceable, and that the ledger remains accurate and tamper-proof.

    8. About Whitelist#

    A whitelist is a list of authorized or trusted individuals, computer programs, or cryptocurrency addresses. For example, in the early stages of a blockchain project, a whitelist is often set up, typically consisting of cryptocurrency addresses or email data. Once this data is added to the whitelist, these users become the first batch of "fan" users during the project's operation. The project team prioritizes these users by offering them airdrops (free tokens) or the opportunity to hold tokens at a lower price.
    In essence, it is a method to restrict participation in sales or activities to a limited group of people.

    9. About DEX/CEX#

    Exchanges are divided into Centralized Exchanges (CEX) and Decentralized Exchanges (DEX).
    On-chain exchanges, also known as Decentralized Exchanges (DEX), are digital asset trading platforms built on blockchain technology and operate in a decentralized manner. Unlike traditional exchanges, on-chain exchanges do not rely on centralized third-party institutions for trade matching or asset custody. Instead, they utilize smart contracts to conduct transactions directly on the blockchain. The core advantages of this trading method are decentralization and security.
    Centralized Exchanges (CEX) are traditional digital asset trading platforms. Unlike on-chain exchanges, centralized exchanges rely on centralized third-party institutions for trade matching, asset custody, and risk management. These institutions have strong technical capabilities and extensive market experience, enabling them to provide users with efficient and convenient trading services.
    Modified at 2025-08-22 01:57:10
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