Layer 2 (L2)

A high-speed Layer 1 blockchain best known for low fees, fast transactions, and some controversy. Originally pitched as a decentralized content platform

A high-speed, low-fee Layer 1 blockchain built for scalability. It can handle thousands of transactions per second, making it popular for NFTs, gaming, and DeFi projects that need speed and volume.

Self-executing code that runs on a blockchain. No middleman, no delays, just “if this, then that.” The backbone of DeFi, NFTs, DAOs, and basically everything cool in Web3.

A separate blockchain connected to a main chain. Assets can move between them, usually for speed or lower fees.

A separate blockchain connected to a main chain. Assets can move between them, usually for speed or lower fees.

How well a blockchain handles growth like having more users, and/or more transactions, without choking on gas fees or lag. It’s the holy grail for mainstream adoption.

Ripple is both a company and a blockchain-based payment protocol designed to make cross-border transactions faster and cheaper than traditional banking.

The rules that run a blockchain or DeFi project. Smart contracts, tokenomics, staking. If it powers the system, it’s part of the protocol.

The OG consensus model. Miners compete to solve puzzles and earn rewards. Secure, but energy-heavy.

A consensus method where validators secure the network by locking up coins. Less energy, more scalability. Ethereum runs on this now.

Polygon is a scaling solution that makes using Ethereum faster, cheaper, and way more beginner-friendly.

Polkadot is not just another blockchain, it’s the multichain matchmaker. It’s a Layer 0 protocol built to connect different blockchains so they can actually work together.

A service that brings off-chain data (like prices, weather, or sports scores) into a blockchain. Blockchains can’t look things up themselves so oracles are like their trusted messengers.

Short for “number used once.” In mining, it’s the number miners tweak to try and find a valid block hash. Basically, trial-and-error puzzle-solving.

Using computer power to secure a Proof-of-Work blockchain and earn rewards. It’s how Bitcoin and other early cryptos generate new coins.

Bitcoin’s faster, cheaper cousin, and one of the oldest coins. Litecoin was built to fix Bitcoin’s speed and fee issues without overcomplicating the tech.

The base layer of a blockchain, such as Bitcoin, Ethereum, Solana, etc. It handles transactions, security, and consensus directly.

Blockchains that play nice with each other. You can move assets or data between networks. No silos, no drama.

A record of data that can’t be changed. Once it’s on the blockchain, it’s there forever. No edits, no erasing.

Once something is recorded on the blockchain, it can’t be changed. No edits, no erasing. That’s the whole point.

How fast your machine, or an entire network is at solving cryptographic puzzles. Higher hash rate means more security, and more mining power.

Block #0. The very first block in a blockchain, created by its founder(s). For Bitcoin, this is where Satoshi started it all.

When a blockchain splits into two paths. Hard fork: Permanent divergence, like Bitcoin and Bitcoin Cash. Soft fork: A backward-compatible upgrade.

A cryptographic method where you prove something is true without revealing the actual data. Essential for privacy-focused protocols.

A sandbox version of a blockchain where developers can test features, contracts, or updates without risking real money.

The anonymous (or possibly pseudonymous) creator of Bitcoin. Identity unknown. Legend level: immortal.

The opposite of off-chain. If it’s recorded on the blockchain, it’s transparent, verifiable, and permanent.

Anything that happens outside of the blockchain. Could be price data, user verification, or transactions settled elsewhere to save time or fees.

A computer that connects to a blockchain network. Some nodes just receive data, others validate and store it. More nodes lead to more decentralization and more security.

The real deal. A fully launched, live version of a blockchain where actual transactions happen (as opposed to testnets, which are for practice).

The base layer beneath Layer 1 blockchains. It connects multiple Layer 1s and allows for cross-chain functionality. Examples: Cosmos, Polkadot.

When a blockchain (like Bitcoin) cuts the rewards for miners in half. Happens every few years to control inflation and keep supply capped. It often kicks off a bull run, or at least serious speculation.

The engine that runs Ethereum’s smart contracts. It processes all the code on the network, making sure everything executes exactly the same way on every node.

The second-largest blockchain after Bitcoin, but built for much more than just payments. Launched in 2015, Ethereum introduced the world to smart contracts.

A formal doc proposing changes or upgrades to Ethereum. If something on the network changes, it probably started as an EIP.

A cryptographic seal that proves a transaction was signed by the rightful wallet owner. Think of it as your unforgeable digital autograph.

The science of securing information using math and code. Without it, blockchains wouldn’t exist, and your crypto wouldn’t be safe.

Tech that allows blockchains to talk to each other. Crucial for multichain DeFi and making the Web3 experience feel seamless.

The Cross-Chain Bridges are the technology that connects different blockchains and lets you move assets between them.

Cronos is a Layer 1 blockchain designed to plug Crypto.com’s massive user base into DeFi, NFTs, and Web3 apps, with low fees and fast transactions.

The rules that decide how a blockchain agrees on what’s true. Whether it’s Proof-of-Work or Proof-of-Stake, consensus is what keeps everything synced and secure.

Chainlink is the middleman that crypto actually needs. It’s a decentralized oracle network that brings off-chain data (like prices, weather, sports scores, you name it) onto the blockchain.

Tech that lets you move tokens or data between blockchains. Super useful. Super risky if the bridge gets hacked.

The foundation of a blockchain ecosystem. For example Bitcoin, Ethereum, Solana are all Layer 1s. Every smart contract or DApp is built on top of one.

A high-speed Layer 1 blockchain with subnets and low fees. Known for its fast finality and a growing DeFi/NFT scene.

A Layer 2 solution for Ethereum that makes transactions faster and cheaper. Runs off-chain but settles securely on Ethereum. One of the biggest L2s right now.