# 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.