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Block Chain

What is a wallet address?

In the crypto space, every user needs a wallet in order to send transactions and receive and hold their funds. A wallet is a unique address that belongs to you where you keep your funds and from where you can send transactions. The simplest wallet consists of a private key and a public key. The public key is used as your wallet address.

What is a private key?

As you now know a wallet consists of a public and a private key. The public key you can share with your friends or other people and they can use that public key (or wallet address) to send you funds. The private key on the other hand is the key to your wallet and therefore needs to be stored carefully and need not be shared with anyone. Anybody having access to your private key can access your funds in your wallet.

What are gas fees?

In order to store information or send transactions on the blockchain, miners have to process your transaction. Doing this costs computer power and thus electricity. For this, as a user, you have to pay a fee to the miners to process your request. These fees are called gas fees.

On which blockchain network is D-Drops based.

Currently, the smart contracts used by D-Drops run on the Binance smart chain. This is mainly because the Binance Smart Chain is an almost identical fork of the Ethereum network but with lower fees. In the future, D-Drops hopes to migrate to Ethereum given that the transaction fees become feasible.

What is DOP?

Dop is the native token of the D-Drops world. It is used to access in-game perks and to claim treasure chests.

What is BNB?

BNB is the native currency on the Binance Smart Chain which is used to pay transaction fees on the network.
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What is a wallet address?
What is a private key?
What are gas fees?
On which blockchain network is D-Drops based.
What is DOP?
What is BNB?