ERC-20 is a standard for fungible tokens on EVM-compatible blockchains. It defines functions like transfer and balanceOf so wallets, exchanges and apps can support tokens universally.

A token is a digital asset created using a smart contract on a blockchain. Tokens can represent currencies, utility, governance rights, reward points and more.

Web3 is the read–write–own internet where users control accounts and assets using blockchain wallets instead of centralized logins.

The EVM (Ethereum Virtual Machine) is the runtime that executes smart contracts. Any EVM-compatible chain can run the same contracts and developer tools.

What is a Smart Contract?

A smart contract is code on a blockchain that executes automatically. It can manage payments, assets, tokens, marketplaces and more without central control.

What is a Crypto Wallet?

A crypto wallet is an app or device that manages your addresses and signs blockchain transactions. It stores your private keys, not your coins.

What is a Private Key?

A private key is the secret that controls your blockchain address. Anyone who has it gains full access, so it must never be shared.

What is a Seed Phrase?

A seed phrase is a 12–24 word backup that can restore your wallet. It generates all your private keys. Losing it means losing access permanently.

What does “Gas Fee” mean?

Gas fees are small costs paid to process transactions on a blockchain. They compensate validators for computing and storing data.

What is a Blockchain?

A blockchain is a decentralized ledger stored across many computers. Blocks are linked cryptographically, making the data transparent and secure.

What is a Transaction Hash?

A transaction hash is a unique ID for a blockchain transaction. It lets you look up the exact details on an explorer.

What does “On-Chain” mean?

On-chain means data or actions recorded directly on the blockchain. This information is public, permanent and verifiable.

What is the Electroneum Smartchain?

The Electroneum Smartchain is an EVM-compatible blockchain designed for speed, low fees and sustainability. It supports smart contracts, dApps and tokens.

ETN is the native cryptocurrency of the Electroneum ecosystem. It is used for transaction fees and general value transfer on the Smartchain.

How is the Electroneum Smartchain different from Ethereum?

Electroneum has faster block times, much lower fees and a more energy-efficient validator model based on IBFT. It is optimized for high-speed, low-cost usage.

What does ‘EVM Compatible’ mean for Electroneum?

EVM compatible means Electroneum can run the same smart contracts and developer tools used on Ethereum, making deployment simple and familiar.

Why is the Electroneum Smartchain considered energy-efficient and sustainable?

It uses an IBFT consensus model with a small, efficient validator set instead of thousands of nodes. This reduces energy consumption significantly while keeping performance high.

What is block time, and how fast is Electroneum?

Block time is how often new blocks are created. Electroneum averages around 5 seconds, providing almost instant transfers and quick confirmations.

An NFT is a unique digital token that represents ownership of items such as art, collectibles or access passes. They are usually based on ERC-721 or ERC-1155 standards.

What is a DApp (Decentralized App)?

A DApp is an application that uses smart contracts on a blockchain. Users interact via wallets instead of traditional logins.

What is a Token Standard? (ERC-20, ERC-721, etc.)

A token standard describes how tokens behave on a blockchain. ERC-20 defines fungible tokens, while ERC-721 and ERC-1155 define NFTs and multi-asset tokens.

EVM & Web3 Glossary

A beginner-friendly glossary for common Web3, EVM and Electroneum Smartchain terms.

Core EVM / Web3 Basics

What is ERC-20?

Short answer: ERC-20 is a standard for fungible tokens on EVM-compatible blockchains.

A bit more detail: ERC-20 defines the common functions tokens must have (like transfer and balanceOf) so wallets, exchanges and apps can support them universally.
What is a Token?

Short answer: A token is a digital asset created using a smart contract on a blockchain.

A bit more detail: Tokens can represent currencies, utility, governance rights, stablecoins, reward points and more. On EVM chains, most fungible tokens use the ERC-20 standard.
What does Web3 mean?

Short answer: Web3 is the “read–write–own” internet where users control accounts and assets via blockchain wallets.

A bit more detail: Instead of logging in with emails and passwords controlled by companies, people connect with wallets and interact directly with decentralized apps and smart contracts.
What is an EVM?

Short answer: The EVM (Ethereum Virtual Machine) is the runtime environment that executes smart contracts across many blockchains.

A bit more detail: Any EVM-compatible chain can run the same contracts and tools (MetaMask, Hardhat, Remix). It’s like a shared global computer for Web3 logic.
What is a Smart Contract?

Short answer: A smart contract is code on a blockchain that runs automatically.

A bit more detail: Smart contracts handle logic like payments, NFTs, governance, marketplaces and more - without any central authority pressing buttons.

Wallet & Security Basics

What is a Crypto Wallet?

Short answer: A wallet is an app or device used to manage addresses and sign blockchain transactions.

A bit more detail: Wallets don’t hold coins. They store your private keys, which prove you own a blockchain address and allow you to send funds or interact with dApps.
What is a Private Key?

Short answer: A private key is the secret that controls your blockchain address.

A bit more detail: Anyone with your private key has full control over your wallet - so it must never be shared or typed into unknown sites.
What is a Seed Phrase?

Short answer: A seed phrase is a list of 12–24 words used to restore your wallet.

A bit more detail: The phrase generates all your private keys. Losing it can mean losing your wallet forever. There’s no password reset in Web3.
What does “Gas Fee” mean?

Short answer: Gas fees are small network costs paid to process transactions.

A bit more detail: They compensate validators for computing and storing your transaction. Efficient networks keep gas fees extremely low.

Blockchain Essentials

What is a Blockchain?

Short answer: A blockchain is a decentralized ledger shared across many computers.

A bit more detail: Data is stored in blocks linked together cryptographically. This makes the system transparent, secure, and very hard to alter after the fact.
What is a Transaction Hash?

Short answer: A transaction hash (TX hash) is a unique ID for a blockchain transaction.

A bit more detail: It lets you look up the exact details of your transaction on a blockchain explorer.
What does “On-Chain” mean?

Short answer: “On-chain” means information or actions recorded directly on the blockchain.

A bit more detail: On-chain data is public, permanent and verifiable by anyone using a block explorer.

Electroneum Smartchain – Beginner Friendly

What is the Electroneum Smartchain?

Short answer: An EVM-compatible blockchain designed for speed, low fees and sustainability.

A bit more detail: It supports smart contracts, tokens and dApps using familiar Ethereum tools - but with faster confirmations and very low costs.
What is ETN?

Short answer: ETN is the native cryptocurrency of the Electroneum ecosystem.

A bit more detail: It is used for gas fees and value transfer on the Smartchain, just like ETH on Ethereum.
How is the Electroneum Smartchain different from Ethereum?

Short answer: It has faster block times, lower fees and a more energy-efficient validator model.

A bit more detail: Electroneum uses an IBFT-style consensus with a small, efficient validator set - not thousands of nodes - which keeps the chain fast and environmentally friendly.
What does ‘EVM Compatible’ mean for Electroneum?

Short answer: It can run the same smart contracts and tools that developers use on Ethereum.

A bit more detail: This makes deploying apps simple - no rewriting, just deploy with MetaMask, Hardhat or Remix as usual.
Why is the Electroneum Smartchain considered energy-efficient and sustainable?

Short answer: It uses an IBFT consensus system that doesn’t rely on thousands of power-hungry nodes.

A bit more detail: A small group of validators reach agreement efficiently, reducing energy consumption dramatically while keeping the network secure and fast.
What is block time, and how fast is Electroneum?

Short answer: Block time is how often new blocks are created. Electroneum averages ~5 seconds.

A bit more detail: Faster block times mean quick confirmations and almost instant transfers - ideal for real-world usage and micro-transactions.

Tokens, NFTs & DApps

What is an NFT?

Short answer: A unique digital token representing ownership of something - art, items, collectibles, access passes and more.

A bit more detail: NFTs store ownership and metadata on-chain. They’re often based on ERC-721 or ERC-1155 standards.
What is a DApp (Decentralized App)?

Short answer: A DApp is an application that runs using smart contracts on a blockchain.

A bit more detail: Users interact through wallets instead of traditional logins, and the backend logic runs on-chain, not on centralized servers.
What is a Token Standard?

Short answer: A token standard defines how tokens behave on a blockchain.

A bit more detail: Popular examples include ERC-20 for fungible tokens and ERC-721 / ERC-1155 for NFTs. Standards ensure wallets and apps know how to interact with tokens consistently.

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