# Terminology

* **Blockchain:** A decentralized digital ledger technology that records transactions across multiple computers securely and immutably.
* **Base Chain:** An EVM Layer two blockchain platform utilizing optimistic rollup technology.
* **EVM:** Ethereum Virtual Machine (EVM), a decentralized virtual environment that executes code consistently and securely across all Ethereum nodes.
* **Tokenization:** The process of converting rights to an asset into a digital token on a blockchain network.
* **Real World Assets (RWA):** Tangible, physical assets such as real estate properties that exist in the physical world.
* **Fractional Ownership:** The division of asset ownership into smaller tokens or fractions, allowing multiple individuals to hold a portion of the asset.
* **Smart Contracts:** Self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.
* **Liquidity:** The ease with which an asset can be converted into cash without affecting its market price.
* **Decentralization:** The distribution of power away from a central authority in a network, characteristic of blockchain technology.
* **Compliance Framework:** The set of guidelines and regulations that govern the operation of a platform, ensuring legal and ethical standards are maintained.