BaseCamp Glossary

Complete guide for total beginners. Every important term explained simply, step by step.

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Blockchain

Think of blockchain as a public accounting book managed by thousands of computers worldwide. Every transaction (like sending money) gets permanently written here and nobody can change it. On Base, transactions process fast and cheap, then get batched and sent to Ethereum for security.

Testnet

Testing version of blockchain where you use fake money with zero risk. Base Sepolia works exactly like mainnet but nothing costs real money. Perfect practice ground for all your labs.

Mainnet

Live network with real money. Every transaction here is permanent and can't be undone. Be very careful what you sign.

Transaction

Any sending of money, NFT, or running code on blockchain. Like a bank transfer but public and irreversible. Everyone can see it on block explorer.

Gas Fee

Tiny ETH payment to process transactions – like gas for network computers. Base makes them 95–99% cheaper than Ethereum. You pay for sends, mints, and swaps.

Wallet

App or device holding your private key and address. Doesn't store money directly – just lets you send/receive. Like digital bank account but you have full control.

Wallet Address

Long string starting with 0x – your unique account number. Send money here. Share freely but always double-check before sending.

Private Key

Your most important secret – password proving money belongs to you. Never share it. Wallet uses it to sign transactions without showing it.

Signature

Code created from your private key confirming transactions. Like your handwritten signature but cryptographically secure – nobody else can fake it.

Seed Phrase / Recovery Phrase

12–24 words to recover your wallet. Backup of your private key. Write on paper, store safely, never enter on websites – that's always a scam.

USDC

Stablecoin always worth $1. Perfect for practice – free from faucets on testnet. You use it in labs for sending and swaps.

ETH

Base currency of Ethereum and Base. Pays gas fees. Free from faucets on testnet, buy real ETH for mainnet.

ERC‑20

Standard for interchangeable tokens like USDC. All ERC‑20 tokens work the same – send like regular money.

ERC‑721

Standard for unique items. Each NFT is different, like collectible trading cards.

NFT

Non‑Fungible Token = unique digital asset. Proof of ownership for images, videos, or collectibles. Created by calling smart contracts.

Token ID

Number for each NFT (1, 2, 3…). Shows creation order. After minting, fetch it from contract's counter().

Base

Fast, cheap network built by Coinbase on Ethereum (Layer 2). Processes transactions in 1–2 seconds, batches them, sends to Ethereum for security.

Base Sepolia

Base testnet (chainId 84532). Used in all practice labs for safe learning. Try Base Sepolia explorer.

Faucet

Website giving free test tokens after captcha/address. Circle for USDC, Alchemy for ETH. Search “Base Sepolia faucet”.

DEX (Decentralized Exchange)

Decentralized exchange for token swaps without banks. Check Security LAB 5 for more.

Block Explorer

Website to track transactions. Paste hash or address to see details. Check your transactions here.

Transaction Hash

Unique 66‑character ID (0x…) for every transaction. Paste into explorer to track status.

Sequencer

Base's special computer that instantly processes transactions off‑chain, then batches to Ethereum. Makes Base super fast.

WalletConnect

Secure wallet‑web connection via QR code. You don't have to enter seed phrase to connect.

Smart Contract

Automatic program on blockchain, works like a vending machine: input condition, get result.

Mint

Creating new NFT by calling contract function (mintTo). Uploads to blockchain with your address as owner.

Metadata

NFT description: name, image, text in JSON format.

Token URI

Link to NFT metadata.

On‑chain

Data stored directly on blockchain – forever and decentralized.

Base = fast, cheap and still Ethereum‑secure

Base is an Ethereum Layer 2 network – it keeps Ethereum’s strong security, but makes transactions much faster and up to 95–99% cheaper than on Ethereum mainnet. This means you can safely try real onchain actions (sending tokens, minting NFTs, swapping) without paying several dollars every time.

Easy onboarding from normal apps

Base is built by Coinbase, so many users start directly from a familiar exchange app or wallet and move onchain in a few clicks instead of complex RPC and network setup. For beginners this feels much closer to a normal fintech app than to a complicated “raw blockchain” experience.

Base accounts and better wallet UX

The Base ecosystem supports smart accounts (Base Accounts) that can use features like social‑style logins, gas sponsorship and safer recovery instead of only seed phrases. This reduces the chance of losing funds through seed scams and lets apps hide low‑level details (gas, nonces) from new users.

Farcaster and MiniApps: social layer for Base

Farcaster acts as a social layer tightly integrated with Base: users have wallets connected to their social profiles and can use MiniApps directly inside the client without leaving the app. Base MiniApps (like BaseCamp) can connect to the wallet, show balances and sign transactions in‑place, giving a smooth in‑app experience instead of constant context switching between tabs and extensions.

Rich, connected ecosystem on one network

DeFi, NFTs, games and identity tools on Base are built to work together: one Base wallet and one account usually work across many apps without changing networks or bridges. For beginners this means less confusion (one main network, one explorer, one set of faucets) and a clearer learning path compared to jumping across multiple separate blockchains.

Base.org docs, Coinbase Base announcement, Basescan.org, Ethereum.org standards, WalletConnect docs