ACTUARUS glossary — technical terms explained

B

Blockchain: A public, shared digital ledger in which every operation is recorded with its date and can no longer be altered afterwards. ACTUARUS uses the Solana blockchain.

C

CASP: A company authorised under MiCA to offer services on crypto-assets, for example buying EURC or USDC with euros. Its authorisation can be checked on ESMA's public register.
Counterparty risk: The risk that the other party does not meet its commitments: the seller fears non-payment, the buyer fears never receiving the goods. Locking the funds in a smart contract reduces it.
Custodian: A party that holds its customers' funds or assets on their behalf. ACTUARUS is not a custodian: the funds stay in the smart contract.

D

Dispute and AI jury: In case of disagreement, the funds stay locked. A jury of 5 AI agents, drawn at random from a panel of 100 and matched to the deal, analyses the signed contract and the evidence. A human on the ACTUARUS team checks the file and decides, within 5 days, on a refund to the buyer or a release to the seller.

E

eIDAS: European Regulation (EU) 910/2014, revised by Regulation (EU) 2024/1183, which sets the legal framework for electronic signatures. It distinguishes simple, advanced and qualified signatures.
Electronic contract: The document that sets the terms of the transaction (price, condition, compliance criteria, deadlines). Both parties sign it via Firma before any funds are locked.
EMT: A category of crypto-asset defined by MiCA: a stablecoin backed by an official currency. Only an institution authorised in the European Union may issue it.
EURC: A euro-backed stablecoin issued by Circle Internet Financial Europe SAS (supervised by the ACPR, France). It is the default settlement token on ACTUARUS.

F

Firma: The electronic signature service through which both parties sign each ACTUARUS contract. Each signatory confirms their identity with a code received by email.

G

Gas fees: Fees paid to the blockchain network to execute an operation. ACTUARUS covers those of the smart contract operations (locking, confirmation, release, return): they are included in the cost. Your other blockchain operations remain at your expense.

H

Hardware key: A physical device (for example a Ledger) that keeps your private keys offline and requires confirmation on the device for each operation. It pairs with a wallet such as Phantom or Solflare.
Hash (digital fingerprint): A string of characters computed from a document or a transaction. If a single character of the content changes, the fingerprint changes: it lets you check that a document has not been altered.

L

Locking of funds: The step where the buyer locks the price in the smart contract. The funds are held by the code, beyond any discretionary control by ACTUARUS.

M

MiCA: The European Regulation (EU) 2023/1114 governing the issuance of crypto-assets and the providers that offer them. It defines, among others, e-money tokens (EMT).
Minimum commission: The floor of ACTUARUS's commission: €5 per transaction, in the deal's currency.
Multi-signature wallet: A shared wallet that requires the approval of several signatories, according to a threshold set in advance (for example two signatures out of three). It suits companies; Squads is the tool presented in the professionals documentation.

N

Non-custodial: ACTUARUS never holds your funds: they stay locked in the smart contract, not in an ACTUARUS account.
Non-custodial on-chain settlement: A mechanism in which the buyer locks the price in a smart contract until the agreed conditions are met, then the code releases it to the seller. The price never passes through an ACTUARUS account.

O

On-chain: Recorded on the blockchain, a public ledger: each step of the transaction leaves a timestamped, verifiable trace.

P

Payment institution: A company licensed to receive and transmit its customers' money. ACTUARUS is not one: the platform never holds the funds.

Q

Qualified signature: The highest eIDAS level: the only one that benefits from a legal presumption of reliability equivalent to a handwritten signature, it requires a certificate issued by a qualified provider. ACTUARUS contracts are signed with a simple signature.

R

Referral: The seller's referrer earns 20% of ACTUARUS's commission on every sale made by the people they referred, for life. A referral never changes the price paid: the referrer's share comes out of ACTUARUS's commission.
Release of funds: The final step: once compliance is confirmed, the smart contract automatically releases the funds to the seller. The transaction is then closed, archived and timestamped.

S

Simple electronic signature: The basic eIDAS level: an electronic signature cannot be denied effect solely because it is electronic, but the burden of proving the integrity and the signatory's identity lies with the party relying on it. This is the level ACTUARUS uses via Firma.
Smart contract: A program stored on a blockchain that automatically executes rules set in advance. Here, it locks the funds and releases them according to the conditions signed by both parties.
SOL: The native token of the Solana blockchain, accepted for settlement. It is not a stablecoin: its price fluctuates.
Solana: The public blockchain ACTUARUS runs on. It is the only network used: EURC, USDC and SOL circulate on it, and the wallet must be created on it.
Stablecoin: A digital token backed by an official currency and redeemable at face value. EURC (euro) and USDC (dollar) are stablecoins, at equal value: 1 EURC = €1, 1 USDC = $1. SOL is not one.

T

Tiered cost (marginal grid): The price is split into tranches and each rate applies only to the part of the price inside its tranche, from the highest rate (5.5%) to the lowest (1%). The effective rate drops as the amount grows. Details and calculator on the Cost page.
Timestamp: The exact date and time recorded with each step of the transaction. On the blockchain it provides a verifiable trace; it is not a qualified timestamp within the meaning of eIDAS.
Two-factor authentication: A two-step identity check: in addition to their usual access, each signatory enters a code received by email before signing.

U

USDC: A dollar-backed stablecoin issued by the same entity as EURC. Accepted on ACTUARUS for transactions priced in dollars.

W

Wallet: A digital wallet: an app or device that holds your access keys and lets you receive, hold and send tokens. On ACTUARUS it must be created on Solana (for example Phantom or Solflare).

Glossary

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