Practice of simultaneously buying and selling the same asset to artificially inflate trading volume. Common in NFT markets where traders trade between their own wallets to fabricate activity metrics, manipulate collection rankings, or farm airdrop eligibility. Solana's low fees make wash trading cheaper than on other chains.
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Practice of simultaneously buying and selling the same asset to artificially inflate trading volume. Common in NFT markets where traders trade between their own wallets to fabricate activity metrics, manipulate collection rankings, or farm airdrop eligibility. Solana's low fees make wash trading cheaper than on other chains.
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Wash Trading (wash-trading) Category: Web3 Definition: Practice of simultaneously buying and selling the same asset to artificially inflate trading volume. Common in NFT markets where traders trade between their own wallets to fabricate activity metrics, manipulate collection rankings, or farm airdrop eligibility. Solana's low fees make wash trading cheaper than on other chains. Related: NFT (General Concept), DEX (General Concept)
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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.
A decentralized exchange allowing peer-to-peer token trading without a centralized order book or custodian. Users trade directly from their wallets. DEXs use automated market makers (AMMs) or on-chain order books. Advantages: no KYC, self-custody, censorship-resistant. Disadvantages: potential for higher slippage, smart contract risk, and MEV extraction.
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Strategy where users automatically replicate the on-chain trades of other wallets in real time. On Solana, copy trading bots monitor successful trader wallets and mirror their swaps, often using Jupiter or Raydium. While popular, it carries risks including front-running by the copied wallet and delayed execution.
An automated program that executes cryptocurrency trades without manual intervention. Bots range from simple snipers that buy new token launches to sophisticated MEV searchers that extract value from transaction ordering. On Solana, trading bots compete via priority fees and Jito bundles for execution speed. Popular Solana trading bots include BONKbot, Trojan, and BullX.
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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.
A decentralized exchange allowing peer-to-peer token trading without a centralized order book or custodian. Users trade directly from their wallets. DEXs use automated market makers (AMMs) or on-chain order books. Advantages: no KYC, self-custody, censorship-resistant. Disadvantages: potential for higher slippage, smart contract risk, and MEV extraction.
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The vision of a decentralized internet built on blockchain technology, where users own their data, identity, and digital assets. Web1 was read-only (static pages), Web2 is read-write (platforms like social media), Web3 is read-write-own (permissionless, user-sovereign). Web3 applications use wallets instead of logins and smart contracts instead of centralized servers.
An application with its backend logic running on a blockchain as smart contracts rather than centralized servers. dApps typically have a traditional web frontend that interacts with on-chain programs via RPC. Users authenticate with wallets instead of username/password. Examples: Uniswap (Ethereum DEX), Jupiter (Solana DEX), Magic Eden (NFT marketplace).
Software or hardware that manages cryptographic keys and enables users to sign transactions, view balances, and interact with dApps. Hot wallets (Phantom, Solflare, Backpack) are internet-connected for convenience. Cold wallets (Ledger, Trezor) store keys offline for security. Wallets don't actually 'hold' tokens—they hold the private keys that control on-chain accounts.
A 12 or 24-word human-readable backup of a wallet's master private key, generated using BIP-39 standard. The seed phrase can deterministically regenerate all derived keypairs (BIP-44 derivation paths). Losing the seed phrase means permanently losing access to all associated accounts. Never share, photograph, or store seed phrases digitally in plain text.