Core Concepts
Smart Contract
A self-executing program stored on a blockchain that runs exactly as coded, without any possibility of downtime, censorship, or third-party interference.
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Comprehensive Web3 Dictionary
Web3 & Blockchain Glossary
Clear, plain-English definitions of the terms you'll encounter throughout your blockchain development journey. Each term below can become its own page for deeper SEO reach — this hub lists them all in one place.
Showing 20 of 20 terms
Languages & Tooling
Solidity
The primary programming language for writing smart contracts on Ethereum and other EVM-compatible blockchains, including MST Chain.
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Architecture
EVM (Ethereum Virtual Machine)
The runtime environment that executes smart contracts. 'EVM-compatible' means a blockchain can run the same smart contracts as Ethereum.
Network Economics
Gas
The computational fee paid to execute a transaction or smart contract function on a blockchain. Named for the 'fuel' required to run operations.
Governance
DAO (Decentralised Autonomous Organisation)
An organisation governed by smart contracts and community voting rather than a central authority or CEO.
Applications
DeFi (Decentralised Finance)
Financial services - lending, trading, borrowing - built on blockchain smart contracts instead of traditional banks or intermediaries.
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Token Standards
NFT (Non-Fungible Token)
A unique digital asset recorded on a blockchain, commonly following the ERC-721 or ERC-1155 token standards.
Cryptography & Privacy
ZK Proof (Zero-Knowledge Proof)
A cryptographic method that lets you prove a statement is true without revealing the underlying data itself.
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Network Consensus
Consensus Mechanism
The process by which a blockchain network agrees on the validity of transactions, e.g. Proof of Work or Proof of Stake.
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Cryptography
Hash Function
A mathematical function that converts input data into a fixed-length string of characters - the foundation of blockchain immutability.
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Cryptography & Security
Public Key / Private Key
A cryptographic key pair: the public key is your wallet address, shareable with anyone; the private key must never be shared and proves ownership.
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Infrastructure
Wallet
Software (or hardware) that stores your private keys and lets you interact with a blockchain - sending transactions, holding tokens, and signing messages.
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Developer Environment
Testnet
A test version of a blockchain network used for development and experimentation, using tokens with no real monetary value.
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Developer Environment
Mainnet
The live, production blockchain network where real transactions carry real value.
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Scalability
Layer 1 / Layer 2
Layer 1 refers to a base blockchain (like Ethereum or MST Chain); Layer 2 refers to a scaling solution built on top of it.
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Token Standards
Token Standard (ERC-20, ERC-721, ERC-1155)
Technical specifications that define how a token behaves on an EVM-compatible blockchain - ERC-20 for fungible tokens, ERC-721 and ERC-1155 for NFTs.
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Network Consensus
Staking
Locking up tokens to help secure a blockchain network (in Proof of Stake systems) in exchange for rewards.
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Industry & Ecosystem
Web3
The umbrella term for the decentralised internet built on blockchain technology, emphasising user ownership over data and assets.
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Asset Tokenisation
RWA (Real World Asset) Tokenisation
The process of representing physical assets - real estate, commodities, invoices - as digital tokens on a blockchain.
Security & Audits
Reentrancy Attack
A common smart contract vulnerability where an external contract call is exploited to repeatedly withdraw funds before the original transaction completes.
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From Concepts to Code
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