📔KEY TERMS IN THE CRYPTO WORLD

LEDGER 📕:

A ledger, in the cryptocurrency world, is a system that keeps track of all the transactions and balances between the participants of a network. This information is strictly numeric and encrypted so that the participant’s identities remain anonymous.

CYPTO WALLET👛:

Just like in the real world, a wallet keeps your private information, such as keys and passwords, that give you access to your cryptocurrencies allowing you to send and receive assets. They can be fully digital, like the Phantom Wallet accessible through the app, or they can be hardware wallets stored on devices like a USB Stick.

WALLET ADDRESS🔗:

Your wallet address is like your email. It is a unique code that can be created free by anyone and be shared publicly so transactions are sent to this address. Its looks something like this: rsoLo2S1kiGecn6hCUXBSsrMWlrRsKa4n01

TRANSACTION FEE💲:

Payments that compensate the computing energy required to process and validate transactions on a blockchain ledger.

MINTING:

The act of tokenizing a digital asset to guarantee its authenticity and uniqueness. A clear example would be uploading an artwork to Magical Eden NFT Marketplace and issuing a token, a code, that guarantees ownership to collectors.