A decentralized application (dApp) is an application built on a decentralized network, such as a blockchain. A dApp is a service that provides direct interaction between providers and end-users through a blockchain or distributed ledger.

A smart contract is a code that automatically executes predetermined actions when the required conditions are met. It brings certainty to the contract's participants while saving time and eliminating the need for third parties.

Blockchain is a database technology that records transactions. It tracks assets in a fully decentralized way, often referred to as peer-2-peer (P2P), meaning that no intermediary is required for adding a new “block” of information to the “chain”.