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Glossary

A​

Account Abstraction​

Smart contract wallets that behave like externally owned accounts, enabling features like gasless transactions, social recovery, and batched operations. Locale uses account abstraction to simplify onboarding through email and social login.

Arbitrum​

Ethereum Layer 2 scaling solution using optimistic rollups. Locale Network is built as an Arbitrum Orbit chain, settling to Ethereum mainnet for security.

Arbitrum Orbit​

A framework for launching customizable Layer 2 or Layer 3 chains that settle to Arbitrum One or Ethereum. Locale Network uses Orbit to create City Chains.

Attestation​

A cryptographic statement verifying that specific data or an event is true. In Locale Network, attestations are used to verify IoT data, identity claims, and credentials without exposing underlying information.

B​

Base Layer​

The foundational blockchain that provides security guarantees. For Locale Network (L2), this is Ethereum mainnet. For City Chains (L3), this is Locale Network.

Block Producer​

A node responsible for creating new blocks in the blockchain. In Locale Network, the sequencer produces blocks and submits them to Ethereum.

Bridge​

Infrastructure enabling asset transfers between different blockchain networks. Locale uses Arbitrum's native bridge for secure cross-chain asset movement.

C​

Cartesi​

Off-chain computation platform enabling complex calculations in a Linux environment without high gas costs. Results are verifiable on-chain through fraud proofs.

City Chain​

A Layer 3 blockchain built on Locale Network, designed for a specific geographic community. City Chains inherit security from Locale Network while enabling local governance and customization.

Credential​

A verifiable digital proof of identity, qualification, or permission. Locale uses soulbound tokens (SBTs) as non-transferable credentials for KYC verification and access control.

Cross-Chain Messaging​

Communication between different blockchain networks. Locale enables City Chains to exchange messages and coordinate through the base Locale Network layer.

D​

Data Sovereignty​

The principle that data should be controlled by the entity that generates it. Locale Network enables communities and individuals to maintain ownership of their data while selectively sharing it.

DeFi (Decentralized Finance)​

Financial services built on blockchain technology without traditional intermediaries. Locale Lending is a DeFi protocol for community-based lending.

DSCR (Debt Service Coverage Ratio)​

A financial metric measuring ability to repay debt. Used by Locale Lending to assess borrower creditworthiness without traditional credit scores.

E​

EigenCloud​

Decentralized cloud computing infrastructure providing verifiable compute resources. Used by L{CORE} for privacy-preserving data verification.

ERC-20​

Ethereum token standard for fungible tokens. Local currencies on City Chains follow ERC-20 standards for compatibility.

ERC-721​

Ethereum token standard for non-fungible tokens (NFTs). Used for unique assets and credentials.

F​

Fraud Proof​

A mechanism in optimistic rollups that allows anyone to challenge invalid state transitions. Ensures security by making fraud economically punishable.

Full Node​

A node that stores the complete blockchain history and validates all transactions. Essential for decentralization and security.

G​

Gas​

The fee paid to execute transactions on Ethereum-compatible networks. Locale Network and City Chains have significantly lower gas costs than Ethereum mainnet.

Governance​

The system by which decisions are made within a protocol or community. Locale provides templated governance frameworks for City Chains to adopt and customize.

I​

Interoperability​

The ability of different blockchain networks to communicate and share data. Locale Network enables interoperability between City Chains and external networks.

IoT (Internet of Things)​

Network of physical devices embedded with sensors and connectivity. L{CORE} SDK enables IoT devices to create verifiable attestations.

K​

KYC (Know Your Customer)​

Identity verification process required for regulatory compliance. Locale uses privacy-preserving KYC through zero-knowledge proofs.

L​

L{CORE}​

Locale's decentralized IoT attestation infrastructure built on Reclaim Protocol. Enables devices to create verifiable data claims without exposing raw data.

Layer 2 (L2)​

A scaling solution built on top of a Layer 1 blockchain (like Ethereum). Locale Network is an L2 that settles to Ethereum.

Layer 3 (L3)​

A blockchain built on top of a Layer 2. City Chains are L3s that settle to Locale Network.

Liquidity​

The ease with which assets can be converted to cash or other assets. In DeFi, liquidity refers to available funds in pools for trading or lending.

Local Currency​

A digital token designed for use within a specific geographic community. City Chains can issue local stablecoins pegged to national currencies.

Locale Lending​

Decentralized lending protocol connecting local investors with local borrowers through transparent, on-chain pools.

Locale Network​

The Layer 2 Arbitrum Orbit chain that serves as the coordination and settlement layer for City Chains and Locale ecosystem applications.

M​

Micropayment​

Small financial transactions, often fractions of a cent. Locale enables micropayments for data access and local services.

Multi-Signature (Multisig)​

A security mechanism requiring multiple parties to approve transactions. Used for administrative actions and treasury management.

N​

Node​

A computer running blockchain software that maintains a copy of the ledger and validates transactions.

O​

Optimistic Rollup​

A Layer 2 scaling technique that assumes transactions are valid unless challenged. Arbitrum and Locale Network use optimistic rollups.

Oracle​

A service providing external data to smart contracts. Locale uses oracles for price feeds and real-world data verification.

P​

Privacy-Preserving​

Technologies and techniques that protect user data while enabling necessary verification. Locale uses zero-knowledge proofs for privacy-preserving verification.

Protocol​

A set of rules governing how a blockchain network operates. Locale Network protocol defines consensus, transaction processing, and governance.

R​

Reclaim Protocol​

The underlying technology for L{CORE} that enables privacy-preserving data attestations using zkTLS.

RPC (Remote Procedure Call)​

An interface for interacting with blockchain nodes. Applications use RPC endpoints to read data and submit transactions.

RWA (Real-World Asset)​

Physical assets represented as tokens on blockchain. Locale enables RWA tokenization for local assets like real estate and businesses.

S​

Sequencer​

The component responsible for ordering and batching transactions in a rollup. Locale Network runs a sequencer that submits batches to Ethereum.

Settlement​

The process of finalizing transactions on the base layer. Locale Network settles to Ethereum, and City Chains settle to Locale Network.

Smart Contract​

Self-executing code deployed on a blockchain that automatically enforces agreement terms.

Soulbound Token (SBT)​

A non-transferable NFT permanently linked to a wallet. Used for credentials, reputation, and identity verification.

Stablecoin​

A cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like USD.

Staking​

Depositing tokens to participate in network security or earn rewards. In Locale Lending, staking provides liquidity to lending pools.

T​

Testnet​

A blockchain network used for testing without real economic value. Locale operates testnets for developers to build and test applications.

Throughput​

The number of transactions a network can process per second (TPS). Layer 2 solutions like Locale significantly increase throughput.

Token​

A digital asset on a blockchain. Can represent currency, ownership, access rights, or other value.

TVL (Total Value Locked)​

The total value of assets deposited in a DeFi protocol. A common metric for measuring protocol adoption.

U​

USDC​

USD Coin, a stablecoin pegged to the US dollar. The primary stablecoin used in Locale Lending and many City Chain applications.

V​

Validator​

A node that participates in consensus by verifying transactions and blocks. Essential for network security.

Verifiable Computation​

Computation that produces a proof of correctness, allowing others to verify results without re-executing.

W​

Wallet​

Software or hardware that stores private keys and enables interaction with blockchain networks.

Web3​

The vision of a decentralized internet built on blockchain technology, enabling user ownership of data and digital assets.

Z​

Zero-Knowledge Proof (ZKP)​

A cryptographic method to prove a statement is true without revealing underlying data. Used throughout Locale for privacy-preserving verification.

zkTLS​

Technology that proves data came from a specific HTTPS source without revealing the actual data. Foundation of L{CORE}'s privacy-preserving attestations.