Web3
Quick Answer
Web3 is the vision for a decentralised internet built on blockchain where users own their data and assets. Web3 payments enable permissionless, borderless, programmable money transfers.
Full Definition
Web3 is the vision for a decentralised internet built on blockchain technology, where users own their data, identity, and digital assets. Web3 applications use smart contracts, tokens, and decentralised protocols instead of traditional servers. Web3 payments are a core use case — enabling permissionless, borderless, programmable money transfers without intermediaries. SpacePay operates at the intersection of Web3 infrastructure and merchant payment acceptance.
Related Terms
Wallet
A cryptocurrency wallet stores private keys enabling users to send, receive, and manage digital assets. Types include hot wallets (MetaMask), cold wallets (Ledger), and smart contract wallets (Safe).
WalletConnect
WalletConnect is an open protocol for secure communication between dApps and wallets via QR code or deep link — a standard integration for crypto payment checkout flows.
Webhook
A webhook is an HTTP callback delivering real-time payment notifications (received, confirmed, settled) to the merchant's server — essential for automated order fulfilment.
Wrapped Token
A wrapped token is crypto pegged to another asset on a different chain (e.g., WBTC is Bitcoin on Ethereum), enabling cross-chain liquidity for payments and DeFi.