Category: Blockchain Flashcards

A parachain is a specialized blockchain that runs parallel to the main blockchain, known as…

Layer 3 in blockchain technology refers to the application layer built on top of the…

A Layer 2 blockchain refers to a secondary framework or protocol built on top of…

A Layer 1 blockchain refers to the foundational layer of a blockchain network, often called…

Decentralized Finance, or DeFi, refers to a system of financial services and products built on…

An Initial Coin Offering (ICO) is a fundraising mechanism in the blockchain and cryptocurrency space…

In the context of blockchains, a token is a digital asset created, issued, and managed…

Decentralized applications, or DApps, are software applications that run on a blockchain network rather than…

Smart contracts in blockchain technology are self-executing contracts with terms directly written into code. They…

In blockchain technology, miners are participants who validate and process transactions by solving complex cryptographic…