Glossary of Terms

Blockchain

A decentralized, digital ledger that records transactions across multiple computers in a way that the registered transactions cannot be altered retroactively.

PARS Token

The native token of the PartnerScan platform, used for transactions, rewards, and governance within the PartnerScan ecosystem.

Smart Contract

Self-executing contracts with the terms of the agreement directly written into code, enabling secure and transparent transactions without intermediaries.

KYC (Know Your Customer)

A process used by businesses to verify the identity of their clients, ensuring compliance with regulatory requirements and reducing fraud.

AML (Anti-Money Laundering)

Procedures and regulations designed to prevent money laundering activities within financial systems.

Tokenomics

The study of the economics of a token, including its distribution, supply, and demand within its ecosystem.

Staking

The process of holding tokens in a cryptocurrency wallet to support the operations of a blockchain network, earning rewards in return.

Yield Farming

A method of earning rewards by providing liquidity to DeFi (Decentralized Finance) platforms, typically involving the staking of tokens.

ICO (Initial Coin Offering)

A fundraising method where new cryptocurrencies or tokens are sold to early backers in exchange for established cryptocurrencies like Bitcoin or Ethereum.

Governance

The framework of rules and practices by which a platform or organization is managed and directed, often involving token holders voting on key decisions.

Decentralized

A system or network that operates without a central authority, distributing control across various participants.

Immutable

Incapable of being changed; a key characteristic of blockchain records, ensuring that data, once recorded, cannot be altered or deleted.

Transaction Fee

A charge imposed for conducting transactions on a blockchain network, compensating for the computational resources used.

Liquidity

The ease with which an asset can be converted into cash or another asset without affecting its market price.

Partnership Management

The process of strategically managing and optimizing relationships and collaborations between businesses.