Category: Blockchain Flashcards
Parachains
A parachain is a specialized blockchain that runs parallel to the main blockchain, known as…
Layer 3 (Blockchain)
Layer 3 in blockchain technology refers to the application layer built on top of the…
Layer 2 (Blockchain)
A Layer 2 blockchain refers to a secondary framework or protocol built on top of…
Layer 1 (Blockchain)
A Layer 1 blockchain refers to the foundational layer of a blockchain network, often called…
DeFi (Decentralized Finance)
Decentralized Finance, or DeFi, refers to a system of financial services and products built on…
ICO (Initial Coin Offerings)
An Initial Coin Offering (ICO) is a fundraising mechanism in the blockchain and cryptocurrency space…
Tokens
In the context of blockchains, a token is a digital asset created, issued, and managed…
DApp
Decentralized applications, or DApps, are software applications that run on a blockchain network rather than…
Smart Contract
Smart contracts in blockchain technology are self-executing contracts with terms directly written into code. They…
Miner
In blockchain technology, miners are participants who validate and process transactions by solving complex cryptographic…