Web3 Essentials

If you're new to Web3, this section covers what you need to know: wallets, blockchains, and how to interact with decentralized applications.

Web3 Chains

Wallets

What wallets are and how to use them

Understanding Chains

EVM, Solana, and blockchain basics

Multisig Wallets

Shared wallets for organizations

What is a Wallet?

A Web3 wallet is software that lets you interact with blockchains. Think of it like a keychain that holds your digital identity and lets you sign transactions.

Your wallet has two parts:

Public address - Like an email address. You share it to receive tokens. Safe to share.
Private key / seed phrase - Like a password. Never share this. Anyone with it can take your funds.

Popular wallets include MetaMask (for Ethereum-based chains) and Phantom (for Solana).

What is a Blockchain?

A blockchain is a shared database that nobody controls. Transactions are recorded publicly and can't be changed once confirmed.

Different blockchains have different tradeoffs:

Speed - How fast transactions confirm
Cost - How much fees cost (called "gas")
Ecosystem - What apps and tokens are available

Incented supports EVM chains (like Base and Optimism) and Solana. EVM chains share Ethereum's technology, so one wallet works across all of them.

What are Tokens?

Tokens are digital assets on a blockchain. Common types:

Native tokens - The blockchain's currency (ETH on Ethereum, SOL on Solana). Used to pay transaction fees.
Stablecoins - Tokens pegged to $1 USD, like USDC. Common for payments.
Governance tokens - Tokens that represent voting power in a community.

Common Terms

Address - Your unique identifier on a blockchain. EVM addresses start with 0x. Solana addresses are longer strings of letters and numbers.

Transaction - An action recorded on the blockchain, like sending tokens or voting.

Gas - The fee paid to process a transaction. You need the chain's native token (ETH, SOL) to pay gas.

Signing - Approving an action with your wallet. Always read what you're signing.

Multisig - A wallet requiring multiple people to approve transactions. Used by organizations for security.

Do I Need Web3 Experience?

Contributors: Minimal. You just need an address where you can receive tokens if you win. You can create an account with email.

Voters: Yes. You need to connect a wallet and hold tokens to stake when voting.

Program Managers: Yes. You need to understand wallets and multisigs to set up and manage programs.

Next Steps

Wallets → - Learn how to set up and use a wallet