Glossary

This section aims to guide you through web3 concepts, including EIPs and thirdweb-specific innovations.

Term	Description
Claim phases	Claim phases or "claim conditions" allow you to configure various aspects of a drop; such as who can claim tokens, how many tokens will be released, the price of each token, release date, etc.
Claiming	Claiming is the process of transferring token ownership to the claimer's wallet..
Composability	Composability refers to the ability for different protocols and smart contracts to interact and build upon each other. .
Delayed reveal	Delayed reveal is a feature that allows you to release NFTs in a drop with hidden content that can only be revealed at a later time. The owner of the smart contract (or a wallet with the appropriate permissions) can lazy-mint a batch of NFTs, along with placeholder metadata and a password.
Drop	A drop smart contract allows the owner of the contract to lazy mint NFTs (unless it is an ERC20 drop), and have other users mint them, typically under the conditions defined in the smart contract’s claim phases, although these are not required.
Externally Owned Account	An Externally Owned Account (EOA) is an account controlled by the owner of the account's private key.
Factory Contract	A factory contract is a smart contract that is used to deploy other smart contracts. .
Gas fees	All transactions (operations that change information stored on the blockchain) require a gas fee, which is used to cover the costs of the computational resources to execute that transaction.
Gasless Transactions	Gasless transactions, also known as meta-transactions, are transactions that have the gas fee paid for by a third party instead of the transaction sender. Typically, this means the dApp owner covers the gas costs of their users' transactions, providing a more seamless user experience.
Interoperability	Interoperability refers to the ability of different networks to share data or assets (like tokens) and interact with each other. .
IPFS	IPFS is a protocol to store files in a decentralized peer-to-peer network.
Lazy minting	Lazy minting is the preparation of NFT metadata without actually minting the NFT to a wallet address.
Local Wallet	A local wallet is a type of wallet that allows you to create wallets within your application or project.
Minting	Minting is the process of creating new tokens on the blockchain..
NFT	A Non-fungible token (NFT) is a type of cryptographic token that is not mutually interchangeable.
Non-custodial Wallet	A non-custodial wallet (also known as a self-custody wallet) is a wallet where the user is solely responsible for their private key.
Permissionless	Anyone can interact with a smart contract without needing special permission or approval.
Proxy Contracts	A Proxy smart contract contains the Storage for an upgradable contract that allows you to modify its logic post-deployment.
RPC URL	An RPC URL is an endpoint that enables an application to communicate with a blockchain network. It is used to send requests (initiate transactions) and receive responses (read data) from the blockchain, enabling developers to build applications that interact with the blockchain.
Signature-based minting	Signature-based minting, or "on-demand minting" allows a smart contract admin to generate signatures that can be used by other wallets to allow them to mint tokens on your smart contract in real-time.
Smart Contract	A smart contract is a computer program, stored on the blockchain. .
Smart Wallet	A Smart Wallet is a wallet that is controlled by a smart contract following the ERC-4337 specification.
Soulbound tokens	Soulbound tokens refer to NFTs that are permanently attached to a specific wallet address on the blockchain.
Staking	Staking is the process of locking up tokens to support the operations of a blockchain network. .
Token	A token is a type of digital asset that represents a particular value or utility.
Wallet	A wallet is a user's way of interacting with the blockchain..