Layer 2

What does Layer 2 means?

A secondary technology built on top of an existing blockchain. The purpose of layer 2 is to scale the blockchain with more solutions, improving its overall transaction speed.

Random Slangs

Mods

A short way of writing “moderators.” Mods are individuals appointed by an NFT community to maintain healthy communication on Discord and other collaborative platforms. Depending

Blockchain

The blockchain is a chain of servers containing several nodes that record cryptocurrency transaction ledgers in a decentralized format. The blockchain is difficult to hack

Liquidity

Liquidity measures the ease of swapping from one token to another or converting a cryptocurrency to stable coins like USDT.

Private key

It’s the secret key that lets you access the wallet containing your cryptocurrency. It’s unique to you and used to sign your transactions, validating that

Play to Earn (P2E)

These are decentralized games powered by smart contracts that reward players with tokens and digital assets. P2E gamers often access the games via their NFTs