What Does Color Palette Mean?
A color palette, in the digital world, refers to the full range of colors that can be displayed on a device screen or other interface, or in some cases, a collection of colors and tools for use in paint and illustration programs. The color palette reveals a lot about the electronic design of the device or technology, and its visual capabilities for human users.
Techopedia Explains Color Palette
The digital color palette emerged from the earliest computers, which only had monochrome displays. Early examples include the Teletext format with a three-bit RGB eight-color palette and the Apple II personal computer with a 16-color palette. Devices like early Atari, Commodore and Apple computers and consoles used their own evolving color palettes built on new color technology.