An Ethereum standard that assigns a smart contract account (wallet) to every ERC-721 NFT, enabling NFTs to own other tokens, NFTs, and interact with protocols directly. Token-bound accounts (TBAs) are created through a permissionless registry using CREATE2 for deterministic addresses. Use cases include gaming inventories, bundled DeFi positions tradable as single NFTs, and identity-linked portfolios.
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An Ethereum standard that assigns a smart contract account (wallet) to every ERC-721 NFT, enabling NFTs to own other tokens, NFTs, and interact with protocols directly. Token-bound accounts (TBAs) are created through a permissionless registry using CREATE2 for deterministic addresses. Use cases include gaming inventories, bundled DeFi positions tradable as single NFTs, and identity-linked portfolios.
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ERC-6551 (Token-Bound Accounts) (erc-6551) Category: Blockchain General Definition: An Ethereum standard that assigns a smart contract account (wallet) to every ERC-721 NFT, enabling NFTs to own other tokens, NFTs, and interact with protocols directly. Token-bound accounts (TBAs) are created through a permissionless registry using CREATE2 for deterministic addresses. Use cases include gaming inventories, bundled DeFi positions tradable as single NFTs, and identity-linked portfolios. Aliases: TBA, Token-Bound Account Related: Account Abstraction, NFT (General Concept)
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A design pattern that replaces the rigid externally-owned account (EOA) model with programmable smart contract wallets capable of custom authentication, gas sponsorship, and batched transactions. ERC-4337 implements this on Ethereum via UserOperations, bundlers, an EntryPoint contract, and paymasters. EIP-7702 (Pectra upgrade, May 2025) extends this by allowing EOAs to delegate to smart contract logic.
A unique, non-interchangeable digital token representing ownership of a specific asset—artwork, collectibles, music, game items, domain names, or real-world assets. NFTs are verified on-chain and can be traded on marketplaces. Unlike fungible tokens (where each unit is identical), each NFT has distinct properties. Major Solana NFT marketplaces: Magic Eden, Tensor.
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A design pattern that replaces the rigid externally-owned account (EOA) model with programmable smart contract wallets capable of custom authentication, gas sponsorship, and batched transactions. ERC-4337 implements this on Ethereum via UserOperations, bundlers, an EntryPoint contract, and paymasters. EIP-7702 (Pectra upgrade, May 2025) extends this by allowing EOAs to delegate to smart contract logic.
A token that grants holders voting power over protocol decisions. Governance tokens enable decentralized control of DeFi protocols, DAOs, and blockchain parameters. Examples on Solana: JUP (Jupiter), MNDE (Marinade), RAY (Raydium). Voting power is typically proportional to token holdings, though some systems use quadratic voting or delegation.
The base cryptocurrency of a blockchain network that is used to pay transaction fees, participate in consensus (staking), and compensate validators for securing the network. Native tokens are protocol-level assets — not created by smart contracts — and their issuance is governed by the blockchain's monetary policy. Examples: SOL (Solana), ETH (Ethereum), BTC (Bitcoin).
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A design pattern that replaces the rigid externally-owned account (EOA) model with programmable smart contract wallets capable of custom authentication, gas sponsorship, and batched transactions. ERC-4337 implements this on Ethereum via UserOperations, bundlers, an EntryPoint contract, and paymasters. EIP-7702 (Pectra upgrade, May 2025) extends this by allowing EOAs to delegate to smart contract logic.
A unique, non-interchangeable digital token representing ownership of a specific asset—artwork, collectibles, music, game items, domain names, or real-world assets. NFTs are verified on-chain and can be traded on marketplaces. Unlike fungible tokens (where each unit is identical), each NFT has distinct properties. Major Solana NFT marketplaces: Magic Eden, Tensor.
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A distributed, append-only ledger that records transactions in cryptographically linked blocks. Each block contains a hash of the previous block, forming an immutable chain. Nodes in the network maintain copies of the ledger and reach agreement through consensus mechanisms. Blockchains enable trustless, decentralized record-keeping without a central authority.
The protocol by which nodes in a distributed network agree on the current state of the ledger. Common mechanisms include Proof of Work (Bitcoin), Proof of Stake (Ethereum, Solana), and BFT variants. Consensus ensures all honest nodes converge on the same transaction history despite potential network delays or malicious actors.
A consensus mechanism where validators are selected to produce blocks based on the amount of cryptocurrency they have staked (locked) as collateral. PoS is energy-efficient compared to Proof of Work. Misbehaving validators risk losing their stake (slashing). Solana, Ethereum (post-Merge), Cosmos, and Cardano use PoS variants.
A consensus mechanism where miners compete to solve computationally expensive puzzles to produce blocks and earn rewards. PoW provides strong security (51% attack resistance) but is energy-intensive. Bitcoin and pre-Merge Ethereum use PoW. The difficulty adjusts to maintain target block times regardless of total network hash power.