Skip to main content
Glossary
Erika Marie avatar
Written by Erika Marie
Updated over a week ago

Airdrop

An airdrop occurs when the marketing/project team wants to promote the launch of a new cryptocurrency. They will then offer tokens on a periodic and controlled basis to people who meet a specific set of characteristics (example: being an active member).

Bid

A bid is the price at which buyers want to buy a given cryptocurrency.

Blockchain

The term Blockchain refers to a type of technology that supports the distributed recording of encrypted data and as the case may be, the Algorand blockchain. A blockchain address refers to a unique sequence of numbers, letters and cryptographic functions stored on a Blockchain.

Collection

A collection is a set of NFTs that are offered for sale by an Artist. A collection can be divided into several drops.‍

Drop

A drop refers to the release of a collection. A collection can be released in whole or in part. Many NFT drops have purchase limits that apply to the number of NFTs Collectors are able to mint in one transaction. On Exa Market, drop concerns seeds that can be revealed as NFTs.‍

Faucet / Dispenser

Faucets or dispensers are solutions that distribute testnet tokens (tokens with no real value) for testing a protocol in development phase.

Fiat money

Fiat money means the category of classic currencies including coins and banknotes: euros, dollars, etc. The opposite would be cryptocurrency.

Gas fees

The gas fees are the transaction fees applied when interacting with the blockchain. Those transactions on the blockchain require using computing power. The gas represents the computer work time necessary to carry out such an operation.

Layer 0 / Layer 1 / Layer 2

Layer 0 is a common base for all blockchains. It is a network of components that maintains the functionality of a blockchain and keeps it decentralized. It includes all servers, nodes, users and even the Internet.

Layer 1 are blockchains that do not depend on any other to function. Layer 1 blockchains function as foundations on which transactions can be performed, and applications deployed.

On the other hand, Layer 2 are networks that are entirely dependent on their parent blockchain. They allow to unload it, and thus to improve its usability. These protocols can be very specific in their architecture. This allows them to solve a wide range of problems such as scalability, anonymity or scalability.

Mainnet

The mainnet is the main (official) network on which the blockchain is running for transactions. The opposite is the testnet, only used to carry out tests.

P2E = Play to Earn

"P2E" means "Play-to-earn", it refers to the EXA Community, in which EXA tokens are at stake for rewards.

Testnet

On the opposite of the mainnet, the testnet blockchain is used only to carry out tests on the protocol and the network without this having any concrete influences for the users.

Did this answer your question?