📖 Web3 Glossary: 25 Terms Every Beginner Should Know

Welcome to Web3! It can feel like a new language at first, so we’ve broken down 25 essential terms with simple definitions and icons to help you navigate with confidence.

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1. 🌐 **Web3**

The next version of the internet where users control their data and assets through decentralised technologies like blockchain.

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2. 🔗 **Blockchain**

A digital ledger that records transactions publicly and securely. It’s the foundation of Web3.

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3. 🪙 **Cryptocurrency**

A digital currency that runs on a blockchain (e.g. Bitcoin, Ethereum, TEL). Used for payments, staking, and more.

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4. 👛 **Wallet**

An app or browser extension that stores your crypto and lets you connect to Web3 apps. Example: MetaMask, Coinbase Wallet.

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5. 🔐 **Seed Phrase**

A 12–24 word backup phrase that restores your wallet. Never share it — it's the key to your funds.

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6. 🗝️ **Private Key**

A secret code that gives full control over your wallet. Used to sign transactions securely.

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7. 📬 **Public Address**

Your wallet’s “account number” — share it to receive crypto (starts with 0x...).

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8. ⛽ **Gas Fees**

Small fees paid to process blockchain transactions. Paid in tokens like ETH.

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9. 🤖 **Smart Contract**

Self-running code stored on a blockchain. Powers DeFi, NFTs, and many dApps.

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10. 📱 **dApp (Decentralised App)**

An app built on blockchain, not run by a single company. Examples: Uniswap, Telcoin App.

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11. 🎨 **NFT (Non-Fungible Token)**

A unique digital item on the blockchain — art, music, tickets, and collectibles.

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12. 🔄 **DEX (Decentralised Exchange)**

A platform to swap tokens peer-to-peer. No middlemen. Examples: Uniswap, QuickSwap.

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13. 💧 **Liquidity Pool**

A pool of tokens that powers instant trading. Users add tokens and earn rewards.

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14. 🧾 **LP Token**

A token you get when you add liquidity. It represents your share of the pool.

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15. 📥 **Staking**

Locking crypto to earn rewards or support the network. Like earning interest.

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16. 🏛️ **DAO (Decentralised Autonomous Organisation)**

A group that runs on smart contracts and community voting — no CEO needed.

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17. 🌉 **Bridge**

A tool to move tokens between blockchains (e.g. Ethereum ↔ Polygon). Use trusted bridges.

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18. 🧱 **Layer 1 (L1)**

A base blockchain like Ethereum, Bitcoin, or the Telcoin Network.

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19. 🪜 **Layer 2 (L2)**

A network built on top of Layer 1 to increase speed and reduce fees (e.g. Polygon).

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20. 🌾 **Yield Farming**

Earning rewards by lending or locking crypto across DeFi platforms.

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21. 🚨 **Rugpull**

A scam where a project disappears with investor funds. Always DYOR (Do Your Own Research).

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22. 🎁 **Airdrop**

Free crypto sent to wallets — often as rewards for holding or engaging with a project.

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23. 🛠️ **Minting**

The process of creating a new NFT or token on a blockchain.

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24. 📊 **Tokenomics**

How a token is designed — its supply, utility, and reward systems.

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25. 🧑‍💻 **Web3 Identity**

Your blockchain-based digital profile. Could be an ENS name, social graph, or wallet.

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💡 Tip: — Web3 evolves fast, but these terms are your foundation.

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Start today and take control of your Web3 journey!