Open-source

A software or project development approach that makes the source code of a program or project publicly available for inspection, use, modification, and distribution.

This means that anyone can view, modify, and distribute the code, subject to certain licensing conditions. Open source software is typically developed collaboratively by a community of volunteers or organizations, fostering transparency, innovation, and the sharing of knowledge.

More Definitions

On-chain

Actions or data that are directly recorded and processed on the main blockchain network. When a transaction or smart contract execution occurs "on-chain," it means that the information is permanently and immutably stored on the blockchain ledger. On-chain actions are transparent, secure, and decentralized, and they contribute to the overall transparency and trustworthiness of blockchain networks.

Off-chain

Transactions or data that occur outside the main blockchain network and act as solutions designed to alleviate some of the limitations of on-chain transactions, affecting scalability and high fees.

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