@wsaawed
Web3 Terms Even Beginners Can Quickly Understand 📖
🧠 Basics
Wallet: Your digital ID and wallet, like MetaMask.
Gas Fee: Blockchain transaction fee, like fueling a car ⛽️.
Chain: Blockchain networks like Ethereum, Solana, Bitcoin.
💰 Investment Related
DEX: Decentralized exchange, trade without middlemen.
DeFi: Decentralized finance, manage funds without banks.
Staking: Lock tokens to earn rewards.
🌍 Community / Identity
DAO: Ownerless organization where members vote to decide.
NFT: Unique digital assets.
ENS: Web3 domain names, like alice.eth.
⚡️ Advanced Terms
Layer2: Scaling solution on top of main chain for faster, cheaper transactions.
Airdrop: Free token giveaways.
Rug Pull: Scam where projects run off with funds—watch out for unrealistically high returns!
0 reply
0 recast
1 reaction