Blockchain:

The blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking tangible (a product) or intangible (intellectual) assets within a business network. In short, when a transaction occurs, it is recorded as a “block” of data. Each block then connects to the next block and the previous block to form a chain of data as assets move from one location to another or ownership changes. Blocks confirm the exact time and sequence of transactions and are linked together to prevent any changes to the sequence or the blocks themselves. Therefore, transactions are “locked” together in an irreversible chain, the blockchain. The next block reinforces the verification of the previous block and, by extension, that of the entire blockchain. Immutability is the most important strength of the blockchain – it eliminates the possibility of malicious tampering and creates a reliable record of transactions for parties within a network.

Ethereum:

Ethereum is a community-built technology with its native crypto-currency, “ether” (ETH), and its own programming language, “Solidity”. It can be used to send and receive value globally through ether for a small fee, without the intervention of a third party. More importantly, Ethereum has expanded the utility of crypto-currencies by allowing developers to create their own applications. These Ethereum-based applications, called “decentralized applications,” are self-executing due to their use of smart contracts. Ethereum’s scope goes far beyond payments: it is a secure marketplace for applications, games and financial services, where user data cannot be stolen or censored.

Electronic wallet:

Crypto wallets store private keys (the passwords to access one’s crypto-currencies), facilitating security and accessibility throughout the transaction process with crypto-currencies such as ether. Unlike a physical wallet containing money, crypto-currency wallets do not technically store the crypto-currencies. Instead, they store the private key that allows access to the assets on the blockchain. Therefore, if a person loses their private key, they also lose access to their money.

Minter:

Minter is a unique decentralized blockchain network that allows people, projects, and companies to create and manage their own coins and trade them at a fair price with absolute and instant liquidity. Although Minter’s native token is BIP (BIPx is its wrapped version on Ethereum), it facilitates exchanges of most crypto-currencies, tokens and digital assets.

Gas fees:

In the same way as gasoline for a car, gas is essential to the functioning of networks (such as the Ethereum network). Gas is the unit that measures the computational effort required to perform certain operations on the (Ethereum) network. Each transaction requires computing resources, which in turn require fees. The gas fee is therefore the fee needed to complete a transaction (on Ethereum, for example).

Smart contracts:

A smart contract is a self-executing contract where the terms of the agreement (between buyer and seller) are written directly in lines of code. The agreements and contract code live on a distributed and decentralized blockchain network in the form of programs that execute when predetermined conditions are met. Transactions are traceable, transparent and irreversible. The key importance of a smart contract is therefore its ability to facilitate trust agreements and transactions with certain outcomes between parties without requiring a central authority, legal system or any form of external enforcement mechanism.

Custody of NFT(s):

When trading or holding NFTs (non-fungible tokens) or other crypto-assets, one can opt for custody or non-custody services. A custodial service has the private key to your wallet and holds your assets in custody. A non-custodial service gives users full control over their wallet and digital assets. It allows users to trade their NFTs directly from their wallets, without the use of intermediaries. Users can trade their NFTs directly from their wallets. Gross sales price: fixed price, reserve price or last bid price. Net selling price: gross selling price minus platform and gas fees.

Non fungible tokens (NFT):

NFTs (“non-fungible tokens” or JNFs) are cryptographic and virtual elements on the blockchain with unique identification codes and metadata (author, signature, date, type, etc.) that distinguish them from one another. NFTs are therefore not interchangeable. NFTs can represent digital files such as fine art, photographs, books, images, audio files such as music, videos, video game or sports-relatedelements and other forms of creative expression. While the digital files themselves are infinitely reproducible, the NFTs that represent them are tracked on their underlying blockchains and provide buyers with unique and unforgeable proof of ownership.