Lingo topic · 61 terms
Blockchain technology
Blocks, nodes, consensus and how the ledger stays honest.
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A
- AlgorithmA fixed set of step-by-step instructions a computer follows to solve a problem or reach a result.
- ANDOSA cryptographic protocol that lets a buyer get exactly one secret out of a set, without the seller learning which one.
- Asymmetric EncryptionCryptography that uses a matched pair of keys: a public one anyone can see and a private one only the owner holds.
- Atomic SwapA direct trade of coins on two different blockchains that either completes fully for both sides or doesn't happen at all.
B
- Bitcoin Improvement ProposalA formal written design document proposing a change or standard for Bitcoin, numbered and debated in public.
- BlockA bundle of confirmed transactions added to a blockchain, sealed with a link to the block before it.
- Block TimeThe average time it takes a blockchain to produce a new block.
- BlockchainA shared digital ledger, copied across many computers, where records are grouped into blocks and chained so they can't be quietly changed.
- Blockchain ExplorerA website that lets anyone search a blockchain and look up any transaction, address or block.
C
D
- DecentralizationSpreading control across many independent participants so no single person, company or government is in charge.
- Digital signatureMaths that proves a message came from the holder of a private key, without revealing the key.
- Distributed Ledger TechnologyA record-keeping system where many computers each hold and update a shared copy of the same ledger.
- Double SpendSpending the same digital coin twice, the core cheat that every cryptocurrency has to prevent.
E
- EncryptionScrambling information with a key so that only someone with the right key can turn it back into readable form.
- EthereumA programmable blockchain that runs smart contracts and apps, with ether (ETH) as its coin.
- Ethereum Virtual MachineThe shared computing engine that runs smart contracts on Ethereum, copied by many other blockchains.
F
G
H
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M
N
- NEMA blockchain platform launched in 2015, known for an unusual "proof of importance" way of choosing who adds blocks.
- NEOA smart-contract blockchain from China, once nicknamed the "Chinese Ethereum".
- NetworkAll the computers running a blockchain's software and talking to each other to keep its shared ledger up to date.
- NodeA computer that runs a blockchain's software, keeps a copy of its data and passes transactions along to others.
- NonceThe number miners keep changing, trillions of times, hunting for a block hash that meets the network's target.
O
- Off-ChainActivity that happens outside a blockchain and isn't recorded on it directly.
- On-ChainAnything recorded directly on a blockchain, visible to all and settled by the network itself.
- On-Chain AnalysisStudying public blockchain data, like wallet balances and coin flows, to understand what holders and markets are doing.
- Open SourceSoftware whose code is public, so anyone can read it, check it, copy it and suggest changes.
P
- Peer-to-PeerDirect dealings between two parties, with no central company or server in the middle.
- PolkadotA blockchain network designed to link many specialised blockchains so they can share security and pass messages.
- Private BlockchainA blockchain run by one organisation or a closed group, where only approved participants can join or write to it.
- Proof of StakeA way for a blockchain to agree on new blocks where validators lock up coins as a deposit instead of burning electricity.
- Proof of Staked AuthorityA consensus method mixing proof of stake with a small set of approved validators, used by BNB Smart Chain.
- Proof of WorkThe system where miners race to solve a costly computing puzzle, and the winner adds the next block.
- ProtocolThe rulebook software follows so that computers on a network can talk to each other and agree.
- Public BlockchainA blockchain anyone can read, use and help run, with no gatekeeper deciding who gets in.
S
- ScryptA hashing algorithm used by coins like Litecoin and Dogecoin, designed to need lots of memory as well as computing power.
- SegWitA 2017 Bitcoin upgrade that moved signature data out of the main part of each transaction, freeing up block space.
- SHAA family of cryptographic hash functions; SHA-256 is the one that powers Bitcoin's mining and security.
- SidechainA separate blockchain linked to a main chain, letting assets move between them so experiments or extra capacity don't clog the main chain.
- Smart ContractA program stored on a blockchain that runs automatically, exactly as written, whenever its conditions are met.
- Soft ForkA backward-compatible upgrade to a blockchain that tightens the rules, so older software still accepts the new blocks.
- SolanaA high-speed, low-fee blockchain for apps and tokens, with SOL as its coin.
- SolidityThe main programming language for writing smart contracts on Ethereum and EVM-compatible chains.
T
- TestnetA practice copy of a blockchain where coins are free and worthless, used to test software safely.
- The MergeEthereum's September 2022 switch from proof of work to proof of stake, which ended mining on the network.
- TimestampA record of when something happened; every blockchain block carries one.
- Transaction FeeThe fee you pay a blockchain network to process your transaction, which goes to the miners or validators who include it.
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