b9_1155what is wallet approval?
a permission that lets a smart contract or address move a set amount of one of your tokens later, without asking again.
it is how swaps and other apps work. a plain ERC-20 approval has no expiry (some newer approval systems add one) and is often unlimited, so an old approval to a contract that is later hacked is still an open door.
related words
- stablecoin a token designed to keep a steady price, usually tied to a major currency such as the dollar.
- revoke cancelling a wallet approval on the blockchain: setting it back to zero, or for NFTs, switching it off.
- NFT a token that is unique rather than interchangeable, often used for digital art or collectibles.
part of the topic scams: free articles, more words and the guide.
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