Good morning let check the meaning of some basic terms in crypto 🔥
" Blockchain":A blockchain is a decentralized and distributed digital ledger used to record transactions across many computers.
"Layer 1 Blockchain":Layer 1 refers to the base layer of the blockchain architecture. It is the underlying blockchain itself, such as Bitcoin or Ethereum. These blockchains process and validate transactions directly on their own network.
"Layer 2 Blockchain":Layer 2 solutions are built on top of Layer 1 blockchains to improve scalability and efficiency. They handle transactions off the main blockchain (Layer 1) and then report back to it, thus reducing the load on the main network and reduce Gas fees Examples . polygon linked to Ethereum
"Bridge DEX" (Decentralized Exchange):A bridge DEX facilitates the transfer of assets between different blockchain networks. This type of exchange allows users to trade tokens across different blockchains seamlessly. For instance, you can swap tokens from Ethereum to Binance Smart Chain using a bridge DEX like Gas.zip
"Onchain":
Onchain refers to any transaction, data, or operation that is recorded directly on the blockchain.
"Native Token":A native token is the primary digital asset of a blockchain.It is used to pay for transaction fees, . For example,Ether (ETH) is the native token of the Ethereum blockchain,core as native token for core Blockchain
"Native Wallet":A native wallet is a digital wallet specifically designed to store and manage the native token of a blockchain,along with any other compatible assets.It is directly integrated with the blockchain network.Examples include MetaMask for Ethereum,Trust Wallet for multiple blockchains, phantom for Solana,and XUMM FOR XRP
"dApp (Decentralized Application):A dApp is an application that runs on a blockchain network,using smart contracts to execute transactions & operations.Unlike traditional apps,they are not controlled by any single entity,making operations safer $ efficient
