Terminology
AkashicChain
AkashicChain is a distributed ledger technology similar to a traditional blockchain. Data on the system is shared between decentralized nodes around the globe. Updates happen through smart contracting outside of any entity's administration.
AkashicLink
AkashicLink is Akashic's mobile app (iOS, Android) and browser extension (Chrome) which allows users access to AkashicChain. Here you can create an account on AkashicChain (or import a pre-existing one) and use it to send and deposit cryptocurrency on Layer 1 and 2. It is used by individuals as well as business to set up their accounts.
A webapp dedicated to satisfying the need of businesses' operations. Safely connect to the website using AkashicLink to inspect funds, transaction history, set callback URLs, or complete payouts. Transactions and funds can also be inspected without connecting to AkashicLink by entering the L2 address of the relevant user.
Alias
NFTs on AkashicChain all have a special "name" attached to them, known as an Alias. If you own an NFT on AkashicChain it is possible to link your Akashic-account to one NFT and get assigned this alias. This allows others to use your alias as the recipient of a transaction instead of your L2-address, as it is much easier to remember and/or write.
*For businesses, NFTs and aliases will normally not be used and this can safely be ignored.
Coins
Coins are a Network's native currency. E.g. ETH on Ethereum or TRX on Tron.
Deposit/Settlement
A transaction to you. In other words, a deposit causes your balance - on Akashic - to increase.
Fees/Gas
Every crypto-transaction cost a small bit extra to complete, a fee which goes to "node operators" or "miners" as an incentive to keep the network running. On Layer 1 networks, fee is often referred to as "gas". AkashicChain also has fees, albeit much smaller than the L1 networks, referred to as "fee", "akashic fee" or "internal fee".
Layer 1
Layer 1 (L1) refers to traditional blockchains (Tron, Ethereum, Bitcoin, etc.) which handle transaction processing through mechanisms such as "proof of work" or "proof of stake". Transactions on layer 1 must be included in a block on the chain through consensus which may cost significant time and money (in the form of fees often referred to as "gas").
Layer 2
Layer 2 (L2) here refers to AkashicChain which can be seen as layered on top of the Layer 1 blockchains. Layer 2 transactions on AkashicChain do not take place on the Layer 1 blockchains, though still benefit from full security through consensus on the distributed nodes. Layer 2 transactions are near-instant and significantly cheaper than Layer 1.
Similarly to transaction hashes on L1, every transaction within AkashicChain has a specific hash - a unique identifier of the transaction. You will see it referred to as "L2 Hash" or "L2 Tx Hash".
L2 Address/Akashic Address
The L2 (Layer 2) address/Akashic address (or identity) is a user's identifier on AkashicChain, much like a wallet has an address on an L1 network. It starts with "AS" followed by 64 hexadecimal characters (0-9, a-e) and can be seen in your AkashicLink.
Network
A word used to refer to any L1 blockchain. For example, the "Ethereum Network" is the same as the "Ethereum Blockchain". Akashic currently supports two networks/blockchain: Tron and Ethereum.
Node
A node refers to one of the computers/servers running the AkashicChain around the world. The nodes come together to provide consensus on any and all transactions on the chain. Anyone in the world can become a node operator by hosting their own instance of AkashicChain and thus contribute to the security and accuracy of the network.
OTK
The OTK (One Time Key) is a user's authorization on AkashicChain. Much like "private keys" control access to an L1 wallet, the OTK does the same to your AkashicChain account.
It is divided into a public and private part. The private part only ever exists on a user's device (within AkashicLink) and should never be shared with anyone.
Also associated with OTKs are a 12 word recovery phrase. This a set of 12 words which can be used to reconstruct your OTK and thus allows importing your data onto e.g. AkashicLink. Like the private key, it is also of utmost importance that these words are stored securely and never shared with anyone.
Payout/Withdrawal
A transaction from you. In other words, a transaction that decreases your balance on Akashic.
Tokens
Tokens refer to other crypto assets which are tradable on a blockchain/network and handled through smart contracts. Akashic supports the stablecoin "Tether" (USDT) on both Tron and Ethereum networks.
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