Compared with traditional networks, blockchain tools have two core characteristics: first, data cannot be tampered with, and second, decentralization. Based on these two characteristics, the information messages recorded in the blockchain are more authentic and reliable, and can help solve the problem of building safe, transparent and trustworthy applications and services.
BTC (big pie): The concept of Bitcoin (Bitcoin) was first proposed by Satoshi Nakamoto on November 1, 2008, and was officially born on January 3, 2009. Design and develop open source software based on Satoshi Nakamoto's ideas and build a P2P network on top of it. Bitcoin is a P2P form of digital currency. Bitcoin’s transaction records are open and transparent. Peer-to-peer transmission means a decentralized payment system.
ETH (Ethereum): Ethereum is an open source public blockchain platform with smart contract functions. It provides a decentralized Ethereum virtual machine (Ethereum) through its dedicated cryptocurrency Ether ("ETH"). virtual machine (EVM) to handle point-to-point binding. Ethereum can be simply understood as a large virtual computer that provides a series of API interfaces (smart contracts) required for blockchain activities (such as transfers).
Cryptocoin: Sometimes called a cryptographic token, it is a trading medium that uses cryptographic principles to secure transactions and control the creation of trading units. Bitcoin became the first decentralized cryptocurrency in 2009. Cryptocurrency is based on a decentralized consensus mechanism, as opposed to the banking financial system that relies on a centralized regulatory system. The decentralized nature comes from the blockchain technology using distributed accounts.
Smart contract: (Smart contract) is a computer protocol that spreads, verifies or executes the same information in an informational way. Smart contracts allow trusted transactions to be made without third parties, which are traceable and irreversible. (For example, developers can configure their own smart contract code on the EVM, and then adjust and use the relevant methods to change the status in the EVM (xxx has the xxx amount of xxx assets), such as calling the transfer method in the smart contract to transfer money to others. .) It is precisely because of the emergence of smart contracts that there is an on-chain ecology, there is the term public chain (such as eth chain, bnb chain, solana chain), and there is nft.
Centralized Exchange (CEX):
The largest exchanges: Binance, OKX
Decentralized exchange (DEX): refers to an exchange on the chain, which requires the use of a cryptocurrency wallet. Transaction records are recorded on the chain and can be queried. For example, uniswap, sushiswap, pancakeswap and other decentralized exchanges that support smart contracts are supported on the chain.
Wallet: specifically refers to decentralized encryption wallets, such as metamask (also known as little fox), tokenpocket (also known as tp wallet), trustwallet, phantom, etc.
The mobile terminal usually uses token pocket, while the web page usually uses the metamask browser plug-in. The wallet we talk about sometimes refers to the application, and sometimes it refers to the wallet account. The wallet mentioned here refers to the application, which cannot store assets yet. You need to create a corresponding wallet account on it before you can use it. Only after we have a wallet account can we store our encrypted assets: tokens and NFTs and use some functions on the Dapp normally. Be careful not to connect your wallet to untrusted websites to avoid having your crypto assets stolen.
Mnemonic phrase: 12 words generated when creating a wallet. Because the private key generated when creating a wallet is too difficult to remember, it will be much easier to remember if you use a corresponding mnemonic phrase. (Your wallet account can be generated through the private key or mnemonic phrase, so do not tell anyone your private key or mnemonic phrase or spread it online.)
Public chain: A public chain refers to a blockchain that anyone in the world can access, send transactions and transactions that can be effectively recognized, and can also refer to the public procedures. Simply understood, a public chain is a local area network. At present, mainstream public chains include ETH, BNB, Solana chain, etc. Asset transfers on the chain require related tokens as miner fees (gas). For example, consumption on the eth chain is eth, consumption on the bnb chain is bnb, and consumption on the solana chain is sol.
It should be noted that wallet accounts that are often created are for specific links. However, if it is a public chain that is compatible with evm, such as a bnb link that is compatible with evm, then the wallet account created is universal because it is generated using the same set of algorithms. That is to say, the wallet account of the bnb chain can also be used on the evm chain. Of course, the asset transfer between chains requires cross-chain. For chains that do not contain evm, such as the sol chain, the wallet created on the eth chain cannot be used on the sol chain and needs to be re-created on the sol chain using the wallet method of the sol chain.
