A smart contract is a computer program or a transaction protocol respectively, which is intended to automatically execute, control or document respectively legally relevant events and actions according to the terms of a contract, of an agreement or of a negotiation.
A block explorer is an online service to track blockchain transactions. It usually is a website where you can see all the new blocks that are being created. You can also search for transactions and wallet addresses. The best-known block explorers are blockchain.info for Bitcoin and etherscan.io for Ethereum.
AML is the abbreviation for ‘anti-money laundering’. AML stands for policy and legislation on money laundering. This prevents illegally acquired funds from being converted into a legal variant. Within the crypto world, it is no longer unusual for AML techniques to be used by exchanges and wallets. This term is often used as AML/KYC, where KYC stands for ‘Know your customer’.
2 Factor Authentication is a double layer security measure. Most crypto exchanges use it. In order to log in, you not only need to enter a password, but also a code that you receive from the Google authenticator for example.
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