Artega glossary: Key terms explained

Some Web3 terms are unavoidable, so we've put together this glossary to explain key concepts in plain language. If there's a term we've missed, let us know at support@s.arte.ga.

Advance deposit - A payment made by a client to a practitioner through Artega, recorded as a proof of agreement on the blockchain.

Air gap - A system that is not networked to other systems. There is literally a gap of air between it and other services.

Anti-money laundering (AML) - Rules and steps that help stop criminals from hiding illegal money. Banks and other businesses must check who their customers are using Know Your Customer (KYC) guidelines and make sure the money they're using isn’t being used for crimes.

Artega - A private payment infrastructure provider. We supply practitioners with tools to accept advance deposits and issue proofs of agreement.

Bitcoin - The first and most well-known cryptocurrency, launched in 2009, designed as a decentralised digital currency.

Blockchain - A secure, decentralised digital record book or ledger that is shared across many computers. It keeps track of transactions in a way that’s very hard to change, so everyone can trust it’s correct.

Blockchain explorer - A website or tool that lets you look up information on a blockchain, like checking transactions, wallet balances, or block history. It’s like a search engine for seeing what’s happening on the blockchain.

Chain - The specific blockchain the NFT is created and stored on (like Ethereum or Polygon).

Client - An individual who makes a payment through Artega, directly supporting a practitioner's work.

Cloud - A global network of remote servers that store, manage, and process data over the internet rather than on local servers or personal computers.

Cloud wallet - See software wallet.

Cold wallet - Air gapped. Completely separate from any other network. Hardware wallets can be cold wallets, but not all of them are.

Collateralized stablecoin (fiat- and crypto-collateralized) - A type of digital money or stablecoin that keeps its value because it’s backed by something else, like regular money or other cryptocurrencies. Backed by means that something valuable is being held to help make sure the digital money doesn’t lose its worth. If it’s backed by normal money (like dollars or euros), it’s called fiat-collateralized. If it’s backed by cryptocurrencies (like Ethereum or Bitcoin), it’s crypto-collateralized.

Contract address - A unique location on the blockchain where the NFT’s smart contract lives.

Cryptocurrency aka crypto - A kind of digital money that people can send to each other directly, without needing a bank. It uses secure computer code to keep it safe and runs on a system called blockchain, which helps make sure everything is accurate and trustworthy.

Crypto exchange - A platform where users can buy, sell, and trade cryptocurrencies for other cryptocurrencies or traditional (fiat) money (like U.S. dollars). Some exchanges act as market makers, earning money from the difference between buying and selling prices, while others charge fees for matching buyers with sellers. See also: Crypto marketplace

Crypto marketplace - A broader term for any platform where cryptocurrencies or crypto-related assets are bought and sold. This includes crypto exchanges but also platforms for trading things like NFTs or digital collectibles. In short, all crypto exchanges are marketplaces, but not all marketplaces are crypto exchanges.

Cryptographic security - The use of complex mathematical algorithms to protect digital assets and data from unauthorised access.

Data minimalism - The practice of intentionally collecting, storing, and using only the data that is essential for a specific purpose, minimising excess to protect privacy and improve efficiency.

Data protection - Measures and laws aimed at securing personal and sensitive information from misuse or theft.

Decentralised/decentralized - A way of running digital systems, like in Web3 or blockchain, where no single person or company is in charge. Instead, many people or computers share control and make decisions together. This means there’s no central point that controls everything.

Decentralized apps (dApps) - Apps that run on a blockchain instead of being controlled by one company. This makes them more open and gives users more control over how they work.

Digital asset - Any item of value that exists in a digital form, such as cryptocurrencies, files, or data; it can be stored, transferred, or traded online.

Digital currency - A digital currency is a type of currency that exists only in digital form, using encryption techniques for secure transactions and often operating on decentralised networks like blockchain.

Digital ledger - A secure, digital record of transactions maintained across a blockchain.

Digital voodoo doll - A nickname for a detailed digital version of a person, made by collecting data about them from many places. This profile can be used to track what someone does, study their behaviour, or even try to influence their choices. It’s based on research by Slavkovik et al. and shows how these profiles can be created without the person’s control. For more details, see our related blog post.

Encrypted - Data that is converted into a secure code to prevent unauthorised access.

Ether (ETH) - The main cryptocurrency used on the Ethereum blockchain. People use it to pay for things on the network, run smart contracts, and reward those who help keep the system working.

Ethereum - A decentralised blockchain platform that lets developers to create smart contracts and decentralized applications (dApps), using its native cryptocurrency called Ether (ETH).

Exchange rate - The value of one currency (crypto or fiat) expressed in terms of another (e.g., 1 USDT = 1 USD).

Fiat - The official money used by a country. For example, the British Pound Sterling (GBP) is the fiat currency of Great Britain.

Fintech - The use of technology to improve or deliver financial services, such as banking, payments, or investing.

Fungible - Interchangeable. Like a pound coin. One pound coin can be replaced for another pound coin.

Gas - A small fee you pay to do things on a blockchain like Ethereum. It covers the work needed to process your request and rewards the people who help run the network.

GDPR (General Data Protection Regulation) - A European Union regulation that governs how personal data must be handled, emphasising user privacy and consent. See also: Data protection

Hardware wallet - A physical device where your crypto is stored. The most analogous to an actual wallet. Can be cold or hot.

Hot wallet - A digital wallet connected to the internet. It can be an app, a website, or some types of hardware wallets.

Keys (cryptographic keys) - Unique strings of data used in cryptography to used to encrypt, decrypt and sign information. In crypto wallets, these keys let you access your money and keep transactions secure. See also: Public keys, Private keys

Know Your Customer (KYC) - KYC is an important part of anti-money laundering (AML) efforts, helping to prevent fraud, money laundering, and other unlawful activities by ensuring that institutions know who their customers are.

Layer 2 - A system built on top of a blockchain like Ethereum to make it faster, cheaper, and able to handle more transactions without losing security.

Licenses (for NFTs) - Legal permissions or rights attached to NFTs that define how the digital content can be used, shared, or commercialised.

MATIC: A cryptocurrency, now called Polygon, that improves transaction speed and reduces costs on the Ethereum network.

Metadata - The information saved on or connected to the blockchain that describes an NFT, like its name, picture, features, and who owns it.

Minting - the process of turning a digital file (like art or music) into an NFT on the blockchain. When you mint something, you're officially creating it as a unique digital asset that can be owned, sold, or traded. On Artega, minting creates the proof of agreement recorded on the blockchain.

Network (Blockchain network) - A decentralised system of computers (nodes) that work together to verify and record transactions on a blockchain. Each blockchain (e.g., Polygon, Ethereum, Bitcoin) operates its own network with its own rules, tokens, and infrastructure. See also: Blockchain.

Non-fungible - Not interchangeable; each token is unique and cannot be replaced with another..

NFT (Non-fungible Token) - Is a unique digital asset stored on a blockchain that represents ownership or proof of authenticity for items like art, music, videos, or virtual goods. On Artega, the NFT serves as a proof of agreement - a record that a transaction took place, not the offering itself.

Off-ramp - A method or service to convert cryptocurrency back into traditional (fiat) money.

Offering - The service or work a practitioner lists on Artega, available for clients to make a payment against.

On-ramp - A method or service that lets users convert traditional (fiat) money into cryptocurrency (e.g., using a credit card to buy crypto).

Open-source - Software whose code is publicly available and can be used, modified, and shared by anyone.

Payment partner - A third-party company that handles payment processing on behalf of a platform. Artega's payment partner is Wert, who processes all transactions independently. Unlike a payment processor working directly for the end user, a payment partner operates at arm's length from the platform, meaning Artega never sees or handles your payment details. See also: Payment processor, Wert

Payment processor - A company or service that handles electronic transactions between a buyer’s and a seller’s bank, ensuring payments are securely authorised and completed. Examples include Wert, Stripe, and PayPal.

POL - Previously called MATIC, the main cryptocurrency used on the Polygon network. People use it to pay fees, take part in staking, and help make decisions on the platform. Polygon helps make Ethereum faster and cheaper to use.

Polygon - A technology that helps make Ethereum faster and cheaper to use. It allows developers to create efficient apps more easily. See also: POL

Polygon network fee - A tiny payment made using Polygon’s own digital money (called POL) whenever you send or do something on the Polygon network. This fee goes to people who help run the network and make sure everything works properly.

Polygon wallet address - A unique code that works like an account number on the Polygon blockchain, used to send or receive digital assets like NFTs. It’s similar to a general cryptocurrency wallet address but specifically linked to the Polygon network. This means it’s used for transactions and assets that exist on Polygon, rather than on other blockchains like Ethereum or Bitcoin. See also: Wallet address

Practitioner - The individual who lists offerings on Artega and receives payments from clients. Artega is designed to work for a wide range of practitioners, not just visual artists.

Private keys - A secret alphanumeric code that allows access to and control over cryptocurrency in a wallet. Must be kept secure.

Processing fee -A platform fee applied to each transaction, already included in the price shown.

Proof of agreement - The record created on the blockchain when a payment is confirmed through Artega. It confirms that a transaction took place between a practitioner and their client. It is not the offering itself and has no monetary value.

Public keys - Digital addresses made from private keys that help securely check and confirm transactions on a blockchain.

Schedule appointment - Artega's built-in scheduling feature, allowing clients to book time directly with a practitioner. Available as an optional setting on individual offerings.

Seed phrase - A series of 12 to 24 random words that act like a master key to access a cryptocurrency wallet. If you lose your wallet, you can use the seed phrase to recover your funds, so it’s important to keep it safe and private.

SHA2 Solutions OU - The registered Estonian office of Wert, Artega's payment partner.

Smart contract - A computer program that automatically follows the rules of an agreement when certain things happen, so you don’t need a middleman.

Software wallet - A wallet you access on the internet that uses the cloud. Can be on a website or an app.

Stablecoin - A type of cryptocurrency that is linked to regular money, like dollars or euros. Its value stays steady and doesn’t change much. It’s good for buying things and paying bills but not for investing.

Support ticket - A request for help or assistance submitted by users through Artega’s chat box (usually found in the bottom right corner), used to report issues or ask questions.

Tether - Another name for USDT.

Tether wallet address - This is a wallet address used specifically to send or receive Tether (USDT), which is a stablecoin that exists on many blockchains (like Ethereum, Polygon). Because Tether runs on multiple networks, you must use the wallet address that matches the network you’re using (e.g., a Tether address on Polygon differs from a Tether address on Ethereum). The Tether wallet address on Polygon is a type of Polygon wallet address used specifically for Tether tokens (rather than other digital assets like NFTs). See also: Polygon wallet address, Wallet address

Trackers/Tracking - Tools or methods used to monitor activity (like wallet transactions) on a blockchain.

Token - A kind of digital asset on a blockchain that can show ownership, be used to pay for things, vote on decisions, or unlock certain services in a network like Polygon or Ethereum.

Token ID - A token ID is a unique number that helps tell one NFT apart from another, like a serial number that makes each NFT one of a kind.

Token price - The current price of a specific crypto token, often shown in USD or another fiat currency.

Token standard - A token standard is a set of rules that NFTs follow on a blockchain to make sure they all work the same way, like a blueprint or recipe for creating NFTs.

TXID (Transaction ID) - A unique code given to each transaction on a blockchain. It works like a receipt number, so you can find and check that exact payment or transfer.

URL (Uniform Resource Locator)- The web address used to access a website or online resource.

USD Coin (USDC) - A stablecoin pegged 1:1 to the US dollar, often used for low-volatility transactions.

USDT aka Tether - A stablecoin that’s tied to the value of the US dollar. One USDT is usually worth about one dollar. It’s not made by the U.S. government, it just follows the dollar’s value.

Volatile crypto - The opposite of a stablecoin. Its value can go up and down quickly, like an investment. It’s risky, good for people who like taking chances, but not great for buying everyday things.

Wallet - The place you store your personal digital assets. Can be on a device on in an account on the cloud.

Wallet address - A unique string of characters that identifies a digital wallet on a blockchain. It is used to send, receive, and store cryptocurrencies or NFTs. Each address is specific to the blockchain it operates on. See also: Polygon wallet address, Tether wallet address

Web3 - A general term that refers to tech that decentralises control of the internet.

Wert - A regulated cryptocurrency payment partner. Wert handles all payment processing on Artega, converting card payments to USDT and delivering them to the practitioner's wallet. See also: Payment processor, Payment partner

YoursTruly - A web3 company that provides NFT and crypto conversion services to e-commerce vendors.