A comprehensive glossary of terms related to Solana token creation, management, and trading. Understanding these terms will help you navigate the Solana ecosystem with confidence.
A
- Associated Token Account (ATA)
- A wallet's token account for a specific SPL token. Each wallet has one ATA per token type. ATAs are created automatically when you first receive a token.
- Authority
- Permissions that control token functions. Mint authority allows creating new tokens. Freeze authority allows freezing accounts. Update authority allows changing metadata. These can be revoked to make tokens more trustworthy.
B
- Blockchain
- A distributed ledger that records transactions across many computers. Solana is a blockchain network optimised for speed and low costs.
- Block Explorer
- A tool for viewing blockchain transactions and data. Solscan is the most popular Solana block explorer, similar to Etherscan for Ethereum.
C
- Canonical Mint
- The official mint address for a token. This is the unique identifier that distinguishes one token from another on Solana.
- Creator
- The person or entity that created a token. Creator information can be included in token metadata for transparency.
D
- Decimals
- The number of decimal places a token uses. Most Solana tokens use 9 decimals, matching SOL. This determines the smallest unit of the token.
- DEX (Decentralised Exchange)
- A platform for trading cryptocurrencies without a central authority. Popular Solana DEXs include Raydium, Orca, and Jupiter.
- Devnet
- A test network for Solana where tokens and transactions don't have real value. Used for testing before deploying to mainnet.
F
- Freeze Authority
- The ability to freeze token accounts, preventing transfers. This authority can be revoked to prevent freezing and build trust.
- Fungible Token
- A token where each unit is identical and interchangeable. Most SPL tokens are fungible, unlike NFTs where each token is unique.
L
- Lamports
- The smallest unit of SOL. One SOL equals 1,000,000,000 lamports. Named after Solana co-founder Les Lamport.
- Liquidity Pool
- A pool of tokens and SOL (or another token) that enables trading on a DEX. Adding liquidity makes your token tradeable.
M
- Mainnet
- The production Solana network where real transactions occur and tokens have actual value. Contrast with devnet.
- Metadata
- Information about a token including name, symbol, description, and logo. Metadata helps users identify and understand tokens. Learn more in our metadata guide.
- Mint
- To create new tokens. Also refers to the mint address, which is the unique identifier for a token type.
- Mint Address
- The unique identifier for a token on Solana. This address never changes and is used to add tokens to wallets and identify them on exchanges.
- Mint Authority
- The permission to create new tokens of a specific type. This authority can be revoked to cap the total supply permanently.
N
- NFT (Non-Fungible Token)
- A unique token where each unit is different. NFTs on Solana are also SPL tokens, just with a supply of 1.
P
- Program
- On-chain code that runs on Solana. The SPL Token Program handles all token operations.
R
- RPC (Remote Procedure Call)
- A connection to the Solana blockchain. Wallets and applications use RPC endpoints to read blockchain data and submit transactions.
- Revoke
- To permanently remove an authority (mint, freeze, or update) from a token. This makes the token more trustworthy by preventing future changes. See our authority revocation guide.
S
- Seed Phrase
- A series of words that can restore access to a wallet. Keep this secure and never share it. Also called a recovery phrase or mnemonic.
- SOL
- Solana's native cryptocurrency. Used for transaction fees and staking. Not to be confused with SPL tokens, which are custom tokens built on Solana.
- Solscan
- The most popular block explorer for Solana. Used to view transactions, token details, and wallet balances.
- SPL (Solana Program Library)
- The collection of on-chain programs that define how tokens work on Solana. SPL tokens are tokens created using the SPL Token Program. Learn more about what SPL tokens are.
- Supply
- The total number of tokens that exist or can exist. Can be fixed (capped) or unlimited (if mint authority isn't revoked).
T
- Token Account
- A storage location for tokens in a wallet. Each wallet has separate token accounts for each token type it holds.
- Tokenomics
- The economic model of a token, including supply, distribution, utility, and value mechanisms. Good tokenomics are essential for long-term success. See our tokenomics guide.
- Transaction
- An operation on the blockchain, such as creating a token, transferring tokens, or revoking authority. Each transaction has a signature that proves it occurred.
U
- Update Authority
- The permission to change a token's metadata. This authority can be revoked to lock metadata permanently, which builds trust with holders.
W
- Wallet
- Software that stores your private keys and allows you to interact with the blockchain. Popular Solana wallets include Phantom, Solflare, and Backpack. See our wallet support guide.
- Wallet Address
- A public identifier for your wallet, derived from your public key. This is what you share to receive tokens or SOL.
