# Technical Glossary

* **Blockchain:** A decentralized, distributed ledger technology that records transactions across many computers, ensuring the data is secure, transparent, and immutable. Each "block" contains a list of transactions, and blocks are linked together to form a "chain."
* **Bitcoin:** The first and most widely recognized cryptocurrency, which operates on a decentralized peer-to-peer network without a central authority.
* **Lightning Network:** A second-layer technology for Bitcoin that enables faster and cheaper transactions by creating off-chain payment channels between users. It allows for near-instantaneous payments with reduced fees.
* **Decentralized Finance (DeFi):** A movement that leverages blockchain technology to recreate traditional financial services like lending, borrowing, and trading in a decentralized, permissionless manner.
* **Phygital:** A blend of physical and digital experiences, often used in gaming or marketing to create immersive experiences that bridge the gap between online and offline worlds.