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Glossary

This glossary provides definitions for key terms used throughout Devdraft’s platform and documentation. Terms are organized alphabetically for easy reference.

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A

ACH (Automated Clearing House)
A U.S. financial network used for electronic payments and money transfers between bank accounts. ACH transfers typically take 1-2 business days to process. API (Application Programming Interface)
A set of protocols and tools that allows different software applications to communicate with each other. Devdraft’s API enables developers to integrate payment functionality into their applications. API Key
A unique identifier used to authenticate requests to Devdraft’s API. API keys come in pairs: public keys for client-side operations and secret keys for server-side operations. Arbitrum
A Layer 2 scaling solution for Ethereum that provides faster and cheaper transactions while maintaining Ethereum’s security guarantees. Audit Trail
A comprehensive record of all actions taken within your Devdraft account, including user activities, configuration changes, and system events.

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B

Beneficiary
A person or entity designated to receive funds from a transfer. In Devdraft, beneficiaries can be bank accounts or cryptocurrency wallet addresses. BIC (Bank Identifier Code)
An international standard code used to identify banks worldwide, also known as a SWIFT code. Required for international wire transfers. Blockchain
A distributed digital ledger that records transactions across multiple computers in a way that makes them difficult to alter or hack.

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C

Cashout
The process of converting digital assets (like USDC or EURC) into local fiat currency and withdrawing to bank accounts or mobile wallets. Cross-Chain
The ability to transfer assets or data between different blockchain networks. Devdraft’s cross-chain technology enables transfers across multiple blockchains. Cross-Chain Infrastructure
Devdraft’s proprietary technology that enables seamless asset transfers between different blockchain networks while maintaining security and efficiency. Cryptocurrency
Digital or virtual currency secured by cryptography and typically built on blockchain technology. Customer
An individual or business entity that has been added to your Devdraft account for payment processing, invoicing, or transaction tracking.

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D

Deposit
The process of adding funds to your Devdraft account through bank transfers, cryptocurrency transfers, or other supported payment methods. Devdraft
A comprehensive payment platform that enables businesses to send, receive, and manage payments across traditional banking and cryptocurrency networks.

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E

ERC-20
A technical standard for tokens on the Ethereum blockchain. Most stablecoins like USDC and EURC are ERC-20 tokens. Ethereum
A decentralized blockchain platform that enables smart contracts and serves as the foundation for many cryptocurrencies and decentralized applications. EURC (Euro Coin)
A euro-backed stablecoin that maintains a 1:1 peg with the Euro currency.

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F

Fiat Currency
Government-issued currency that is not backed by a physical commodity like gold or silver. Examples include USD, EUR, and GBP. Forex Exchange
The conversion of one currency to another at current market exchange rates.

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G

Gas Fee
The fee required to conduct transactions or execute smart contracts on blockchain networks like Ethereum. Gross Revenue
The total amount of revenue generated by your business before any deductions, as tracked in Devdraft’s analytics.

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I

IBAN (International Bank Account Number)
An internationally standardized bank account number used to identify bank accounts across national borders, primarily used in Europe. Idempotency
A property that ensures performing the same operation multiple times has the same effect as performing it once. Used in API design to prevent duplicate transactions. Invoice
A commercial document requesting payment for goods or services provided. Devdraft enables creation and management of digital invoices with automated payment processing. IP Whitelisting
A security feature that restricts access to your Devdraft account to specific IP addresses or ranges.

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K

KYC (Know Your Customer)
The process of verifying the identity of customers to comply with anti-money laundering regulations and prevent fraud. KYB (Know Your Business)
Similar to KYC but for business entities, involving verification of business registration, ownership, and operational details.

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L

Layer 2
A secondary protocol built on top of a main blockchain (Layer 1) to improve scalability and reduce transaction costs. Examples include Polygon and Arbitrum. Liquidity
The ease with which an asset can be converted into cash or another asset without affecting its market price.

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M

Mobile Money
A digital payment service that allows users to store, send, and receive money using mobile phones. Popular in regions like Africa (e.g., MTN Mobile Money, Airtel Money).

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N

Network Fee
The fee charged by a blockchain network for processing transactions. Also known as gas fees on Ethereum-based networks.

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P

Payment Link
A shareable URL that allows customers to make payments for products or services without needing a full e-commerce setup. Polygon
A Layer 2 scaling solution for Ethereum that provides faster and cheaper transactions while maintaining compatibility with Ethereum.

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Q

QR Code
A type of barcode that can be scanned by mobile devices to quickly access wallet addresses, payment links, or other information.

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R

Rate Limiting
A technique used to control the amount of incoming requests to an API within a specific time period to prevent abuse and ensure service availability. Routing Number
A nine-digit code used to identify financial institutions in the United States for ACH and wire transfers.

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S

SEPA (Single Euro Payments Area)
A payment integration initiative that allows for seamless euro-denominated payments across participating European countries. Smart Contract
Self-executing contracts with terms directly written into code, automatically executing when predetermined conditions are met. Stablecoin
A type of cryptocurrency designed to maintain a stable value relative to a reference asset, typically a fiat currency like USD or EUR. SWIFT Code
See BIC (Bank Identifier Code). Used for international wire transfers to identify specific banks.

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T

Transaction
Any movement of value or data within the Devdraft platform, including payments, transfers, conversions, and deposits. Transfer
The process of sending funds from your Devdraft account to external bank accounts or cryptocurrency wallets. Treasury Wallet
A secure digital wallet used by Devdraft to hold and manage cryptocurrency assets on behalf of users.

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U

USDC (USD Coin)
A fully collateralized US dollar stablecoin that maintains a 1:1 peg with the US Dollar.

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V

Virtual Account
A unique bank account number assigned to your Devdraft account for receiving fiat currency deposits. Volatility
The degree of variation in the price of an asset over time. Cryptocurrencies typically have higher volatility than traditional assets.

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W

Wallet
In Devdraft, refers to external cryptocurrency wallets that users can connect to deposit funds. Also refers to Devdraft’s internal treasury wallets that securely hold user assets. Wallet Address
A unique identifier used to receive cryptocurrency deposits in Devdraft. Generated for each supported network and currency. Webhook
An HTTP callback that sends real-time data from Devdraft to your application when specific events occur, such as successful payments. Wire Transfer
An electronic transfer of funds from one bank account to another, typically processed the same day but with higher fees than ACH transfers.

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Need More Information?

Contact Support

Get help with specific terms or concepts not covered in this glossary

API Documentation

Find technical definitions and implementation details in our API docs
This glossary is regularly updated as new features and terminology are introduced to the Devdraft platform. If you encounter a term not listed here, please contact our support team.