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Cryptosphere

Table of Contents
STORE OF VALUE – PROMISE OF WORK – FIAT CURRENCY – PRECIOUS COMMODITIES – BLOCKCHAIN – CRYPTOCURRENCY – BITCOIN – NON-FUNGIBLE TOKENS – DATA STORYTELLING & STATS – GEOSPATIAL REAL ESTATE – VIRTUAL AUTHORITY – DECENTRALIZATION – PROPAGATION – NETWORK AUTHORITY – NETWORK AUTONOMY – PEER2PEER – SMART CONTRACTS – TRANSPARENCY CHAIN – ANONYMOUS EXCHANGE – GOVERNANCE – PLUTONOMY INVASION

CONSENSUS NETWORK GLOSSARY

All | M N O P R S W
There are currently 17 consensus network entries in this directory
M


N

Network: Defining Terms
  • Multiplexing
  • "In telecommunications and computer networks, multiplexing (sometimes contracted to muxing) is a method by which multiple analog or digital signals are combined into one signal over a shared medium. The aim is to share a scarce resource."
  • Plaintext | Cleartext
  • "In cryptography, plaintext usually means unencrypted information pending input into cryptographic algorithms, usually encryption algorithms. This usually refers to data that is transmitted or stored unencrypted ('in clear')."
  • Distributed hash table
  • "A distributed hash table (DHT) is a distributed system that provides a lookup service similar to a hash table: key-value pairs are stored in a DHT, and any participating node can efficiently retrieve the value associated with a given key. The main advantage of a DHT is that nodes can be added or removed with minimum work around re-distributing keys. Keys are unique identifiers which map to particular values, which in turn can be anything from addresses, to documents, to arbitrary data. Responsibility for maintaining the mapping from keys to values is distributed among the nodes, in such a way that a change in the set of participants causes a minimal amount of disruption."
  • Firewalls
  • "In computing, a firewall is a network security system that monitors and controls incoming and outgoing network traffic based on predetermined security rules. A firewall typically establishes a barrier between a trusted network and an untrusted network, such as the Internet."
  • Network address translation
  • "Network address translation (NAT) is a method of mapping an IP address space into another by modifying network address information in the IP header of packets while they are in transit across a traffic routing device. The technique was originally used to avoid the need to assign a new address to every host when a network was moved, or when the upstream Internet service provider was replaced, but could not route the network's address space and now is used to conserve global address spaces on IPv4."
  • Public-key cryptography
  • "Public-key cryptography, or asymmetric cryptography, is a cryptographic system that uses pairs of keys. Each pair consists of a public key (which may be known to others) and a private key (which may not be known by anyone except the owner). The generation of such key pairs depends on cryptographic algorithms which are based on mathematical problems termed one-way functions."
  • Secure Sockets Layer
  • Transport Layer Security
  • "Transport Layer Security (TLS), the successor of the now-deprecated Secure Sockets Layer (SSL), is a cryptographic protocol designed to provide communications security over a computer network."
  • "The TLS protocol aims primarily to provide privacy and data integrity between two or more communicating computer applications. It runs in the application layer and is itself composed of two layers: the TLS record and the TLS handshake protocols."
  • End-to-end encryption
  • "End-to-end encryption (E2EE) is a system of communication where only the communicating users can read the messages. End-to-end encryption is intended to prevent  data being read or secretly modified, other than by the true sender and recipient(s). Messages are encrypted by the sender but the third party does not have a means to decrypt them, and stores them encrypted. Recipients retrieve the encrypted data and decrypt it themselves."
  • Wireless mesh network
  • "A wireless mesh network (WMN) is a communications network made up of radio nodes organized in a mesh topology. It can also be a form of wireless ad hoc network.A mesh refers to rich interconnection among devices or nodes. Wireless mesh networks often consist of mesh clients, mesh routers and gateways. Mobility of nodes is less frequent. If nodes constantly or frequently move, the mesh spends more time updating routes than delivering data. In a wireless mesh network, topology tends to be more static, so that routes computation can converge and delivery of data to their destinations can occur. Hence, this is a low-mobility centralized form of wireless ad hoc network."
  • Optimized Link State Routing Protocol
  • "The Optimized Link State Routing Protocol (OLSR) is an IP routing protocol optimized for mobile ad hoc networks, which can also be used on other wireless ad hoc networks.  OLSR is a proactive link-state routing protocol, which uses hello and topology control (TC) messages to discover and then disseminate link state information throughout the mobile ad hoc network.  Individual nodes use this topology information to compute next hop destinations for all nodes in the network using shortest hop forwarding paths."
  • Transmission Control Protocol
  • "The Transmission Control Protocol (TCP) is one of the main protocols of the Internet protocol suite. It originated in the initial network implementation in which it complemented the Internet Protocol (IP). Therefore, the entire suite is commonly referred to as TCP/IP. TCP provides reliable, ordered, and error-checked delivery of a stream of octets (bytes) between applications running on hosts communicating via an IP network. Major internet applications such as the World Wide Web, email, remote administration, and file transfer rely on TCP, which is part of the Transport Layer of the TCP/IP suite. SSL/TLS often runs on top of TCP."
  • Datagram
  • "A datagram is a basic transfer unit associated with a packet-switched network. Datagrams are typically structured in header and payload sections. Datagrams provide a connectionless communication service across a packet-switched network. The delivery, arrival time, and order of arrival of datagrams need not be guaranteed by the network."
  • “A self-contained, independent entity of data carrying sufficient information to be routed from the source to the destination computer without reliance on earlier exchanges between this source and destination computer and the transporting network.” — RFC 1594
  • User Datagram Protocol
  • "In computer networking, the User Datagram Protocol (UDP) is one of the core members of the Internet protocol suite. With UDP, computer applications can send messages, in this case referred to as datagrams, to other hosts on an Internet Protocol (IP) network. Prior communications are not required in order to set up communication channels or data paths."
  • "UDP uses a simple connectionless communication model with a minimum of protocol mechanisms. UDP provides checksums for data integrity, and port numbers for addressing different functions at the source and destination of the datagram. It has no handshaking dialogues, and thus exposes the user's program to any unreliability of the underlying network."
  •  


    Network: Distributions and Syndication
  • I2P
  • Syndie
  • CryptoNote
  • muwire.com
  • Freenet
  • ZeroNet
  • Filetopia
  • "Filetopia is a free, multi-platform peer-to-peer file sharing client, and networking tool that allows users to share files, use chat, and send instant messages. Filetopia also features a buddy list. Users can share files in public chat rooms or privately with contacts (by searching or using shared files list). As it is not a centralized system, users must connect to a network made of multiple servers in order to find each other. However all the file transfers, secure chat, etc. are conducted on a peer-to-peer basis.  Users can also host their own rooms and share the room's encrypted data with their friends by any means, without the need to connect to the Filetopia network."
  • Retroshare
  • "Retroshare is a free and open-source peer-to-peer communication and file sharing app based on a friend-to-friend network built on GNU Privacy Guard (GPG). Optionally, peers may communicate certificates and IP addresses to and from their friends."
  • P2PRIV
  • "Peer-to-peer direct and anonymous distribution overlay (P2PRIV) was a conceptual anonymous peer-to-peer overlay network introduced at Warsaw University of Technology in 2007. P2PRIV hides an initiator of communications by a parallelization of network nodes receiving or sending user data independently. This concept is contrary to other anonymity networks topologies. The anonymity networks employ a serial communication as a common basis and hide the initiator in a cascade of network nodes forwarding user data consecutively. The main advantage of P2PRIV is viewed as a possibility of providing high-speed anonymous data transfer while anonymous data can be sent directly and independently."
  • B.A.T.M.A.N.
  • "The Better Approach to Mobile Ad-hoc Networking (B.A.T.M.A.N.) is a routing protocol for multi-hop mobile ad hoc networks which is under development by the German "Freifunk" community and intended to replace the Optimized Link State Routing Protocol (OLSR). B.A.T.M.A.N.'s crucial point is the decentralization of knowledge about the best route through the network — no single node has all the data. This technique eliminates the need to spread information about network changes to every node in the network. The individual node only saves information about the "direction" it received data from and sends its data accordingly. The data gets passed from node to node, and packets get individual, dynamic routing headers."
  •  


    Network: Tor

    "Tor works by bouncing connections from your computer to destinations (such as google.com) through a series of intermediate computers, or relays; and back to you in the same way."

    Tor network understands these addresses by looking up their corresponding public keys and introduction points from a distributed hash table within the network. It can route data to and from onion services, even those hosted behind firewalls or network address translators (NAT), while preserving the anonymity of both parties. Tor is necessary to access these onion services.

    1. The Tor Project | Privacy & Freedom Online
    2. How Do Tor Users Interact With Onion Services? (Dec-2018)
    3. Tor2web: software project to allow Tor hidden services to be accessed from a standard browser without being connected to the Tor network (Aaron Swartz and Virgil Griffith)
    4. Nyx: Command Line Monitor for Tor
    5. Tor Relays List (Nov-2021)
    6. Freehaven
    7. NSA GCHQ Attack Tor Network Encryption (4-Oct-2013)
    8. Tor Cops (Jul-2014)
    9. U.K. Parliament: Banning Tor is unacceptable and impossible (9-Mar-2015)
    10. A Tool to Check If Your Dark Web Site Really Is Anonymous (OnionScan)

     


    Networks: Federated Alt-Space
    1. YouTube ➝ Invidious
    2. Google ➝ Searx
    3. Reddit ➝ Libreddit
    4. Office ➝ HedgeDoc
    5. Twitter ➝ Nitter
    6. Instagram ➝ Bibliogram
    7. Facebook ➝ Mastodon
    8. Live ➝ Proton Mail
    9. Mail ➝ Tutanota
    10. Wikipedia ➝ Wikiless
    11. PasteBin ➝ PrivateBin
    12. MediaFire ➝ FileBin
    13. Google Translate ➝ Lingva Translate
    14. DeepL Translate ➝ Libre Translate
    15. SpeedTest ➝ LibreSpeed
    16. Mega ➝ Crypt
    17. Play Market ➝ F-Droid
    18. Zoom ➝ Jisti
    19. Microsoft ➝ FSF
    20. RedHat ➝ NOsystemd
    21. Debian ➝ Devuan
    22. Arch Linux ➝ Artix Linux
      1.  


    O


    P

    Protocols: WebRTC | BitTorrent | WebTorrent |

    Protocols: ICMP - Internet Control Message Protocol
  • Internet Control Message Protocol
  • "The Internet Control Message Protocol (ICMP) is a supporting protocol in the Internet protocol suite. It is used by network devices, including routers, to send error messages and operational information indicating success or failure when communicating with another IP address, for example, when an error is indicated when a requested service is not available or that a host or router could not be reached. ICMP differs from transport protocols such as TCP and UDP in that it is not typically used to exchange data between systems, nor is it regularly employed by end-user network applications (with the exception of some diagnostic tools like ping and traceroute)."
  • What is ICMP and Port ICMP in relation to IP?
  • PC & Network Downloads
  • What is ICMP? The Protocol, Port Number and PING! (17-Jan-2016)
  • "ICMP (Internet Control Message Protocol), which runs on Port Number 1, is the protocol that is best known for the PING command in Windows and Linux/Unix OS."
  •  


    Protocols: TCP/IP Model - F2F
  • The OSI and TCP/IP Model - Networking Basics - Part 5 (14-Jun-2021)
  • Endpoint Protection - Symantec Enterprise (6-Jul-2006)
  • Friend-to-friend
  • "A friend-to-friend (or F2F) computer network is a type of peer-to-peer network in which users only make direct connections with people they know. Passwords or digital signatures can be used for authentication. Unlike other kinds of private P2P, users in a friend-to-friend network cannot find out who else is participating beyond their own circle of friends, so F2F networks can grow in size without compromising their users' anonymity. Retroshare, WASTE, GNUnet, Freenet and OneSwarm are examples of software that can be used to build F2F networks, though RetroShare is the only one of these configured for friend-to-friend operation by default."
  •  


    R

    Relays
    1. Entry/Guard Relay - This is the entry point to the Tor network. Relays are selected to serve as guard relays after being around for a while, as well as having shown to be stable and having high bandwidth.
    2. Middle Relay - Middle relays are exactly that - middle nodes used to transport traffic from the guard relay to the exit relay. This prevents the guard and exit relay from knowing each other.
    3. Exit Relay - These relays are the exit point at the edge of the Tor network. These relays send traffic to the final destination intended by the client.

     


    Relays: Bridges

    Two vulnerabilities in the Tor Network are at entry and exit. Entry by user into Tor and exit from Tor at exit node to destination site/peer. Bad guy could download the list of Tor exit nodes then force a destination site to block all traffic from those nodes. Worse, the bad guy could download the list of entry nodes and force them to block a user, thereby blocking all sites by blocking entry into Tor Network at source. The current solution to these issues is BRIDGES.

  • BRIDGES are simply unpublished frequently changing ENTRY RELAYS
  • Users on censored networks use BRIDGES to access the Tor network bypassing targeted restrictions
  • All users accessing Tor receive a small list of bridges (via BridgeDB) to connect to the rest of Tor Network unrestricted

  • Relays: DA Consensus

    NINE of the DA nodes maintain the master list of active relays, while ONE DA (Tonga) maintains the list of bridges

  • Status of all the Tor relays is maintained in a living document called the CONSENSUS
  • Tor DA Relay Distribution Map

    Relays: DA CONSENSUS

    DA update CONSENSUS every hour by a vote:

    1. Each DA compiles a list of all known relays
    2. Each DA then computes the other needed data, such as relay flags, bandwidth weights, and more
    3. DA then submits this data as a “status-vote” to all the other authorities
    4. DA next will go get any other votes it is missing from the other authorities
    5. All the parameters, relay information, etc. from each vote are combined or computed and then signed by each DA
    6. Signature is then posted to the other DA’s
    7. There should be a majority of the DA’s that agree on the data, validating the new consensus
    8. The consensus is then published by each DA
  • How Tor Works: Consensus

  •  


    Relays: Directory Authorities (DA)
    TEN authoritative nodes on Tor are run by long-time trusted volunteers distributed around the world. These nodes are Directory Authorities (DA) and they maintain the status of the entire Tor network. DA nodes distribute an ever-updated master list of all known active relays.
  • What Happens If Tor Directory Authorities Are Seized? (19-Dec-2014)
  •  


    Relays: Trust by Onion Routing
    How do we know we can actually trust relays? We don’t have to! Tor is designed to put as little trust in relays as possible. Onion Routing is used as a secure (encrypted) way of routing what you send and receive - and what a destination peer/site receives and sends - using layers of encryption that protect both of you AND the relays in between:
    1. You encrypt the original sent data so only exit relay can decrypt
    2. Your "1" encrypted data is then encrypted again so only middle relay(s) can decrypt
    3. The "2" encrypted data of "1" is encrypted again so only guard relay can decrypt"

     


    S

    Secrecy Surveillance Intel Tools
  • Cory Doctorow: How To Destroy Surveillance Capitalism
  • How does Tor maintain anonymity when a source and destination are required at the end? (StackExchange, 13-Mar-2020)
  • Smashing Windows with Windows: Transparency Design, Wikileaks, Openleaks, Metahaven (Jeff Khonsary, 2011)
  • GCHQ JTRIG Intel Primer: Document from an internal GCHQ wiki lists tools and techniques developed by the Joint Threat Research Intelligence Group [JTRIG] (British Intelligence)
  • JTRIG Tools and Techniques (14-Jul-2014)
  • The Safe Network Primer: world's first fully autonomous data and communications network (safenetwork.org, last update Aug-2020)
  • SecureDrop: free software platform for secure communication between journalists and sources (whistleblowers) (Aaron Swartz, Kevin Poulsen, James Dolan)
  • Forward Secrecy
  • "In cryptography, perfect forward secrecy (PFS) is a feature of specific key agreement protocols that gives assurances that session keys will not be compromised even if long-term secrets used in the session key exchange are compromised. For HTTPS, the long-term secret is typically the private key of the server. Forward secrecy protects past sessions against future compromises of keys or passwords. By generating a unique session key for every session a user initiates, the compromise of a single session key will not affect any data other than that exchanged in the specific session protected by that particular key."
  • Consensus
  • "A fundamental problem in distributed computing and multi-agent systems is to achieve overall system reliability in the presence of a number of faulty processes. This often requires coordinating processes to reach consensus, or agree on some data value that is needed during computation. Example applications of consensus include agreeing on what transactions to commit to a database in which order, state machine replication, and atomic broadcasts. Real-world applications often requiring consensus include cloud computing, clock synchronization, PageRank, opinion formation, smart power grids, state estimation, control of UAVs (and multiple robots/agents in general), load balancing, blockchain, etc."
  •  


    W

    BLOCKCHAIN CRYPTOSPHERE GLOSSARY

    (blockchain jargon, terms and definitions)

    All | # A B C D E F G H I J K L M N O P R S T U V W Z
    There are currently 150 cryptosphere glossary entries in this directory
    #

    51% Attack
    51% Attack refers to a situation where a majority of blockchain miners make an attack on the rest of nodes, by changing/ stopping transactions, taking over mining operations, or double spending coins.

    A

    Actor

    An actor in the blockchain industry basically refers to any entity with the capabilities for participating in a specific network or an action.


    Address

    The address in terms of blockchain generally refers to the public address related to a private key. The addresses work as the identity of an actor or an account. In most cases, the addresses are available in hexadecimal notations.


    Airdrop

    Airdrop is a method for token distribution that helps in sending tokens or cryptocurrency to wallet addresses. Airdrops are also utilized in the case of marketing purposes for simple tasks such as app downloads and reshares, and referrals.

    READ MORE


    Altcoin

    The digital currency alternatives for Bitcoin are called altcoin, with the majority of altcoins being forks of Bitcoin, with few changes.READ MORE


    Anti-Money Laundering (AML)
    Anti-money laundering refers to the collection of international laws implemented for reducing the possibilities of money laundering through cryptocurrencies.

    Application Specific Integrated Circuit (ASIC)
    Application-Specific Integrated Circuit or ASIC is basically a certain type of computer processing chip with the capabilities to perform a specific function. ASIC relies on specialisation for offering better efficiency and cost-effectiveness in comparison to general computer processors. ASIC boards are suitable additions in the blockchain industry for performing SHA256 hashing that is needed for Proof-of-Work mechanisms.

    B

    Block
    Block is the most fundamental component in the structure of a blockchain and serves as the single section comprising discrete data. The blocks generally include a list of actions or transactions that should be performed during data processing in the block.

    Bitcoin

    Bitcoin also referred to as BTC, is a decentralized blockchain tailored particularly for transaction of tokens between accounts. The most important highlight of Bitcoin is that it is the first blockchain-based cryptocurrency. Bitcoin features a Proof-of-Work or PoW consensus algorithm and leverages Unspent Transaction Outputs (UTXOs) for storing data.  READ MORE


    Banking Secrecy Act (BSA)
    Banking Secrecy Act is a US legislation passed in 1970, which implies that financial institutions must support government agencies in detection and prevention of money laundering activities. BSA requirements focus on record-keeping for all customers, decision on the type of monetary instruments eligible for purchase or exchange, and mandatory reporting of specific types of activities.

    Block (Canonical)
    A canonical block is one that has been incorporated in the primary blockchain. The canonical block is referenced either directly or indirectly by future blocks. Non-canonical blocks which might have validity could be rejected in favour of canonical blocks.

    Block (Genesis)
    The first block in a blockchain structure is known as the genesis block. The block height for the genesis block is zero. Most important of all, all the other blocks in the blockchain are linked intrinsically to the genesis block. It is possible to configure genesis blocks for creating a fork of a chain of purposes, including specification of different block parameters or pre-loading accounts with tokens for test networks.

    Block Depth
    Block depth refers to the position index of a block in the blockchain with respect to the most recently added block. For example, a block that is 2 blocks before the last added block will have a block depth of 2.

    Block Explorer
    Block explorer is the software or GUI graphical user interface, which helps users in reading and analysing data on a blockchain.

    Block Height
    Block height is the position index of a block with respect to the genesis block. For example, the second block added to a chain will have a block height of 2.

    Block Reward
    Blockchains with native cryptocurrency allow miners to allocate a specific number of tokens for generating spontaneously and sending to desired address. The reward compensates for the miner’s support in building a block and the network alongside incentivising other miners for joining the network.

    Blockchain

    Blockchain is an innovative method for data storage in discrete sections in the form of blocks, which are linked to each other. It is basically a consensus digital ledger including digitally recorded data in different sections such as blocks. Every block is related to the next block through a cryptographic signature. Blockchains could provide criteria for the type of data eligible for storage on the block and invalid data, which should be rejected. READ MORE


    Blockchain 1.0
    The first generation of blockchain technology, known as Blockchain 1.0, emphasised particularly executing simple token transactions. The chains in Blockchain 1.0 are restricted in terms of scope and ability.

    Blockchain 2.0
    The second generation of blockchain technology, i.e., Blockchain 2.0, focused on enabling the functionalities of smart contracts and generalised processing. The chains in Blockchain 2.0 are developed with Turing-complete programming languages with a broad range of capabilities, other than the basic peer-to-peer (P2P) value exchange.

    Blockchain 3.0
    The new generation of blockchain technology presently emphasises achieving better interoperability and scalability with blockchain applications. Although Blockchain 3.0 does not have any frontrunners now, the chains under development have the potential for improving the use of smart contracts.

    Bug Bounty
    Bug Bounty basically refers to a reward paid for completing specific tasks such as identification of code vulnerabilities, design work, social impact, content creation, research, and more.

    Byzantine Fault Tolerance
    Byzantine Fault Tolerance basically refers to the ability of the network to reach consensus properly at any given time while also assuming that no more than one-third of the network actors are malicious.

    C

    CeFi

    CeFi or centralized finance refers to a structured service for controlling all orders through one central exchange without any competing parties. CeFi basically aims at ensuring fair trades, improving buying and selling processes alongside boosting additional transactions. READ MORE


    Coin
    Coin in terms of blockchain is basically a representation of digital asset value generated through personal, independent blockchain.

    Corda

    Corda is basically an open-source blockchain project tailored for business functions. It helps in developing interoperable blockchain networks with formidable indications for conducting transactions in complete privacy. Corda features smart contract technology for enabling businesses to complete direct transactions with better value. READ MORE


    CeDeFi

    Interpreted as the combination of CeFi and DeFi, CeDeFi is a hybrid centralized decentralized system. It is basically a new approach that aims to use the best of DeFi and CeFi for modernizing conventional financial management. The world’s leading crypto exchange platform, Binance, has started the DeCeFi movement with their Binance Smart Chain. READ MORE


    Client
    Client in the world of blockchain refers to software with the capabilities for accessing a blockchain through a local computer. A client would generally feature a cryptocurrency software wallet and support in processing transactions.

    Currency
    In most specific terms, money in any form, when used in circulation as a medium of exchange is known as currency. Every country has its own currency, like the US dollar is the currency of the USA.

    Consensus

    Consensus is an important process in the blockchain industry that is essential for helping different sections of a network in determining a single source of truth. Blockchain networks depend on consensus algorithms for reaching an agreement in terms of the blogs eligible for addition to the chain and the validity of nodes. READ MORE


    Central Bank Digital Currency (CBDC)

    CBDC refers to the proposals that involve digital currency, issued by a central bank. Although the term is not well-defined, it represents a new form of central bank money. READ MORE


    Certificate Authority (CA)
    Certificate Authority or CA refers to a centralised authority that helps in correlating identities with a public-private key pair in private key infrastructures.

    Closed Source
    The closed source software points out proprietary software featuring source code that is not accessible to the public. Users can access the compiled binaries in the form of an executable program. However, the binaries are not human-readable, and users other than the original software developer cannot access them for modifications.

    Coinbase (Company)
    Coinbase is a US-based cryptocurrency brokerage platform, which is the largest exchange in terms of transaction volume and customer base. In comparison to other exchanges, Coinbase features a small count of cryptocurrency offerings. It provides only a specific few dozen tradable cryptocurrencies out of all the available options in the ecosystem.

    Coinbase (Mining)
    Coinbase, in the context of mining, is associated directly with a block. The coinbase of a block points out to the address where block rewards are delivered.

    Cold Wallet
    The cold wallet or cold storage in blockchain points out to an offline wallet that is not connected to the internet ever. The cold wallets are helpful in safeguarding cryptocurrencies from online hacking attacks.

    Command-Line Interface (CLI)
    CLI or Command-Line Interface is a text-based user interface that can offer the core functionalities alongside access to system resources in a better way than GUIs. However, CLI generally lacks the benefits of usability. Therefore, CLI is more suitable for developers in comparison to the average users.

    Confirmation
    Confirmation in the world of blockchain refers to the process of determining the extent of the immutability of the information in a blockchain. In some cases, confirmations refer to the number of nodes accepted in a transaction, the number of transactions referencing the confirmation, or the number of blocks prior to it. A general transaction in Bitcoin features five confirmations upon producing five blocks after the block containing a specific transaction.

    Consortium

    Consortium refers to the private blockchain network operated by a company or a group of agencies. Consortium chains generally management information that is not fit for public release albeit needs to be communicated immutably between two concerned parties. READ MORE



    Cryptocurrency

    Cryptocurrency refers to currencies that are digitally distributed and traded with establishing proof of ownership through cryptographic methods. For instance, it is not possible to transfer Ether from an account without any control over the private key related to the concerned account. READ MORE


    Cryptography
    Cryptography is the technique of combining mathematical and logical problem-solving skills for encryption or decryption of encoded messages. Computer cryptography depends considerably on mathematical proofs alongside the difficulty of computation for certain mathematical problems.

    D

    DApp

    DApp or decentralized apps are similar in terms of operations with regular web applications. On the other hand, they can retrieve information about their state and data from specific or multiple blockchain networks. You wouldn’t need a central web server for the functioning of DApps. In addition, DApps communicate with each other through the messaging protocol used by blockchain networks connected to them. READ MORE


    DeCeFi

    DeCeFi or decentralized CeFi is basically a new approach that aims to use the best of DeFi and CeFi for modernizing conventional financial management. The world’s leading crypto exchange platform, Binance, has started the DeCeFi movement with their Binance Smart Chain.


    Decentralization

    Decentralized points out the shift of data, actions, and other associated interests from a single actor towards distribution throughout all actors.


    Decentralized Autonomous Organization (DAO)

    A decentralized Autonomous Organization or DAO points out a company or group of like-minded people operating on the basis of rules established in a smart contract. DAOs are generally helpful for transforming business logic to software logic documented on a blockchain. READ MORE


    DeFi or Decentralized Finance

    Decentralized finance or DeFi is a paradigm shift in the economy powered by decentralization, especially in blockchain networks. DeFi points out the radical transition from centralized and closed financial systems to universally accessible economies. DeFi relies on open protocols with the assurance of programmability, ease of composition, and interoperability. READ MORE


    Digital Identity

    Digital identity is basically an online identity or identity on a network adopted by an organization, individual, or electronic device. READ MORE


    Digital Signature

    Digital signature is a code created through public-key encryption followed by being attached to electronically transmitted documents for verifying the contents of the document.


    Directed Acyclic Graph

    Directed Acyclic Graph or DAG is a directed graph structure, such as a flow chart, without any recursive routes. DAGs are applicable in the blockchain industry primarily for creating links between blocks, data storage structures, and transactions. READ MORE


    Distributed Ledger

    Distributed ledger is the database spread throughout various sites, institutions, and countries with sequential storage of records in a continuous manner. The data in distributed ledger could be permissioned or unpermissioned, depending on the control privileges for viewership of the data. READ MORE


    Double Spend Attack

    Double-spend attacks basically refer to malicious attempts for convincing two different parties about the validity of one of two conflicting transactions. In such cases, both transactions can appear valid, although with setbacks when combined together. Blockchain reorganizations such as natural forks imply that verification of the addition of a transaction in a block does not refer to its immutability. Transactions will be immutable only after reaching a certain chain depth where chain reorganization cannot affect them. It is possible to reduce double-spend attacks by waiting to confirm a transaction by the network.


    E

    Ether

    Ether, also known as ETH, is the base cryptocurrency tailored for the Ethereum blockchain network. Ether basically serves as the currency for paying transaction fees to miners. Most important of all, it is stored in terms of individual accounts rather than in the form of Unspent Transaction Outputs or UTXOs. READ MORE


    EWASM

    EWASM refers to the web assembly or WASM version implemented by the Ethereum Virtual Machine for ensuring improved functionalities in blockchains.


    EOS.IO

    EOS basically points out the Blockchain 3.0 chain, tailored specifically for emphasizing transaction throughput. It leverages the web assembly or WASM for smart contracts and the delegated proof-of-stake or DPoS consensus mechanism. READ MORE


    Ethereum

    Ethereum is one of the prominent examples of the decentralized chain in Blockchain 2.0. As a matter of fact, it will be the first major smart contract platform that enjoys considerable support of Fortune 500 companies through the Ethereum Enterprise Alliance or EEA. Ethereum presently depends on a Proof-of-Work or PoW consensus algorithm. However, future modifications in the protocol can imply the need for updating to a Proof-of-Stake or PoS algorithm for better scalability. READ MORE


    Exchange

    A cryptocurrency exchange is commonly evident in the world of blockchain, especially as a service for trading cryptocurrency tokens for fiat or other tokens. Exchanges are subject to intensive regulations in the US, the European Union, and eastern Asia.


    ERC20 Token Standard

    ERC refers to Ethereum Request for Comment and is associated with an assignment number related to the standard. ERC20 is a technical standard for smart contracts implemented by the majority of Ethereum tokens. The ERC20 standard lists certain rules which specify requirements that a token should fulfill for maintaining compliance and functioning in the Ethereum network. READ MORE


    Ethereum Enterprise Alliance

    The Ethereum Enterprise Alliance or EEA refers to a group of medium to large businesses with a public commitment to support Ethereum development and creating applications tailored for the protocol. READ MORE


    Ethereum Improvement Proposals (EIP)

    Ethereum Improvement Proposals or EIPs provide a description of standards for the Ethereum platform, such as contract standards, core protocol specifications, and client APIs.


    Ethereum Virtual Machine

    Ethereum Virtual Machine is a simulated state machine that depends on eWASM bytecode for processing transactions. In addition, it can also facilitate opportunities for performing state transitions for the Ethereum blockchain. The state of the EVM will be similar on all nodes in the network, with the impossibility of generating different states by using the same inputs.


    Exchange (Decentralized)

    Decentralized exchange basically refers to a cryptocurrency exchange hosted completely through a decentralized app on a specific blockchain. Decentralized exchanges generally don’t allow the conversion of cryptocurrency to fiat. Furthermore, decentralized exchanges also present more difficulties in comparison to standard exchanges for regulations and sanctions.


    F

    Fiat

    Fiat refers to a nationally adopted currency that has the backing of the government. For example, the US Dollar and Euro are examples of fiat currencies. Fiat currencies are generally favorable due to their traditional applications and legal status.


    Fork

    Fork in the world of blockchain refers to the process of creating a unique network by using the same consensus mechanism or protocols as the previously existing network. Forks could contain the state of the original network or instantiate their own state. You can find two categories of forks such as hard fork and soft fork. The hard fork features permanent incompatibility with the existing network. The soft fork features compatibility with the data on the original chain. READ MORE


    Fintech

    Fintech word is a combination of two terms finance and technology. The combined term Fintech refers to a business that involves the use of technology for the automation or enhancement of financial services and processes.


    Financial Crimes Enforcement Network (FinCEN)

    FINCEN is the U.S. federal agency that investigates and prosecutes finance-related crimes, like money laundering. The rules and regulations of FinCEN cover many points related to the use of cryptocurrency.


    G

    Gas

    Gas in the blockchain terminology refers to a measure of the computational difficulty needed for processing a smart contract function. Functions with additional complexity would require additional gas. Users could find gas as hardcoded values for each operational code, such as in the case of Ethereum. On the other hand, gas could also refer to subjective values that depend on miner’s preferences. READ MORE


    Gwei

    Gwei is the basic and specific denomination for ETH; it is also a unit for gas price.


    Gas Price

    Gas price refers to the number of tokens charged as fee for every unit of gas consumed by function of smart contract. Gas prices can help a network in responding dynamically to fluctuations in bandwidth demand on the grounds of market forces.


    Genesis Block

    It is the initial data block that was computed first in the history of blockchain network.


    Gossip Protocol

    Gossip protocol refers to a process through which actors in a network can exchange information with other members easily. Upon receiving new information, an actor relays the information to all other actors. The cumulative connection of all actors in a network ensures that all of them receive the information eventually.


    Graphical User Interface

    The Graphical User Interface or GUI is basically an instrument for displaying information to users through personalized design of on-screen elements such as taskbars and windows.


    H

    Hash

    Hash is an important element in the description of blockchain infrastructures. It refers to the output of a cryptographic function for mapping inputs to particular outputs that seem arbitrary. Hashes are primarily useful for efficient data identification. READ MORE


    Halving

    Cryptocurrencies such as Bitcoin run on a finite supply, thereby implying their characterization as a scarce digital commodity. The total amount of Bitcoin issued could never cross 21 million. So, the number of Bitcoins generated for every block is reduced by half every four years in a process known as halving.


    Hashrate

    Hashrate refers to the rate at which a specific machine is capable of addressing a particular hashing function. The Hashrate is generally similar to common CPU speed. Hashrate is calculated on the basis of number of times that a machine could perform specific functions per second. As a result, ASICs are capable of showcasing higher hashrate in comparison to processors with similar clock speed.


    Hashgraph

    Hashgraph is a decentralized ledger that depends on a gossip protocol for communicating transactions alongside a tangle-style consensus approach. READ MORE


    Hardware Wallet

    Hardware wallet refers to any physical device such as the popular Ledger Wallet, which can be connected to the web with a facility for interaction with online exchanges.


    Hash Collision

    Hash collision happens in the circumstances when two inputs are mapping to the same output hash. However, it is impossible to offer two sets of meaningful data with colliding hashes. Although users can construct hashes from data, they cannot reconstruct data from hashes.


    Hash Function

    Hash function refers to a cryptographic function that enables mapping of inputs to particular yet visibly random outputs.


    Hexadecimal Notation

    Hexadecimal notation is basically the representation of raw data in base of 16 rather than base of two or base of 10.


    Hot Wallet

    The hot wallet in blockchain points out to wallets that are connected directly to the internet at all times, such as the ones held on centralized exchanges.


    Hybrid Consensus Model

    The hybrid consensus model focuses on combining the best functionalities from Proof of Stake (PoS) and Proof of Work (PoW) consensus mechanisms. Hybrid consensus model enables validation of blocks by miners as well as voters, thereby leading to balance in network governance.


    Hyperledger

    Hyperledger is one of the top enterprise favorites for leveraging the power of blockchain. Hyperledger features an assortment of tools offered by IBM and helps in creating enterprise-level consortium chains with hosting by The Linux Foundation. READ MORE


    I

    Immutability

    Immutability is the property of data for showcasing additional resistance to modifications. It is a key aspect of blockchain networks and ensures that data written on a blockchain ledger cannot be modified.


    Initial Coin Offering

    ICO or Initial Coin Offering, also known as Initial Token Offering, is similar to the public offering of stocks in the financial markets. It offers a way for tokenized businesses to obtain investment from the public. ICOs come under the regulation of the Securities and Exchange Commission or SEC. READ MORE


    InterPlanetary File System (IPFS)

    IPFS basically refers to a system for decentralized file storage and referencing for the Ethereum blockchain. It is an open-source protocol for enabling the storage and sharing of hypermedia in a distributed manner. Most important of all, IPFS does not depend on a single point of failure.


    J

    Java

    Java is the most popular programming language tailored for server-side applications.


    JavaScript

    JavaScript is the ideal programming language tailored for browsers and web pages on the grounds of its flexibility. It follows the ECMAScript and is also an interpreted language for developing back-end and front-end solutions.


    K

    KYC (Know Your Customer)

    KYC is a procedure in which a business verifies the genuineness of the customers by verifying their background and identity.


    L

    Liquidity

    Liquidity refers to the availability of liquid assets to a market or company. An asset is associated with higher liquidity for easier conversion to cash. Difficulties in converting an asset into cash make the asset illiquid. The liquidity of an asset influences its market price and risk potential.


    Liquid Democracy

    Liquid Democracy, also known as Delegative Democracy, is a system, generated by government in which votes can be proxied (delegated) to any other individual. This term was founded as a mechanism for Decentralized Autonomous Organizations where every participant can delegate their vote to another individual.


    M

    Miner

    Miner in the world of blockchain points out to an actor with the ability to create and submit new blocks to the chain. CPU miners generally use central processors for block production and validation. GPU miners are known for using their graphics processor to address block validation and production. Miners using ASIC for block validation and production are known as ASIC miners.


    Mining

    The process of developing a new block and submitting it to the blockchain is known as mining


    Mainnet

    Mainnet is the largest blockchain network run by a specific protocol or the most valuable chain of a community. They exist in places of deriving real value and representation of truest intents of the core developers. READ MORE


    Market Capitalization

    Market Caplitalization, also known as Market Cap, is the total value of a particular market, industry, company, or asset. For a company that is publicly traded, the market capitalization is the total market value (in dollar) of the outstanding shares of a company.


    Merkle Proof

    Merkle Proof basically refers to the process of passing through a Merkle tree from leaf to root. Along the way, you have to hash every level with the previous level for producing a unique hash for the tree’s structure.


    Merkle Root

    Merkle Root refers to the cryptographic has of all other hashes in the Merkle Tree. In the case of a blockchain, the Merkle Root refers to a hash of all the transaction hashes in the chain.


    Merkle Tree

    Merkle Tree is a data tree with leaves at the end of every branch labeled with an identifier or a cryptographic hash. All branches on a Merkle Tree are labeled with all leaves and sub-branches. The redundancy on a Merkle Tree ensures that any individual with the tree could provide reliable proof of completeness of the data. READ MORE


    Mining Pool

    The mining pool refers to a group of miners working together for generating the next block on a blockchain before the others in the network.


    Multi Signature (MultiSig)

    Multi Signature is a crypto-asset wallet for which there is a requirement of multiple keys to access it. More than one (specified) individuals have to sign a transaction for approval, only then they would be able to access the wallet.


    N

    Node

    Any participant in the blockchain network connected to peers with the capability of validation and propagation of new blocks is referred to as a node. A full node generally features the complete state of the blockchain. On the other hand, a light node features adequate block data for validation of the chain, albeit without the complete state data related to every block.


    Network

    The set of actors interconnected collectively for achieving a single purpose is referred to as a network.


    Non-Fungible Token (NFT)

    NFT is a token that doesn’t have any equal token i.e. considered to be a unique digital asset. READ MORE


    O

    Opcode

    Opcode is basically a machine-level instruction for processors, and they are generally very basic commands such as bit shifting, addition, and multiplication.


    Oracle

    The company Oracle creates enterprise-level software systems. On the other hand, as a service, oracles are services for connecting real-world data and blockchain applications.


    P

    Protocol

    Protocol refers to a set of rules defined for the exchange and transmission of data. In blockchain, protocol refers to the rules that define how the actions should be performed across a network. READ MORE


    Peer-to-Peer (P2P)

    Peer to Peer or P2P refers to a model of interaction between actors involved in a transaction without any external intermediary. READ MORE


    Private Blockchain

    A private blockchain is a closed network where authorized participants are controlled by a single entity. It limits the individuals who can participate in the consensus of the blockchain network. There is a verification process for the new participants to authorize them for participation. READ MORE


    Private Currency

    A token or currency that is issued by a private firm or individual. Private currency has limitations to use within a network of that firm or individual who issued it.


    Private Key

    Private key is one of the significant components in the public/private key pair and is suitable for asymmetric encryption and decryption.


    Private Key Infrastructure

    PKI or Private Key Infrastructure refers to a collection of rules and policies for managing identification through public-key encryption associated with a network.


    Proof-of-Liquidity

    Proof of Liquidity is a cryptographic assertion method by third-party auditor for verifying that an actor holds a specific number of resources.


    Proof-of-Stake

    PoS refers to a consensus mechanism that ensures that the ability to produce a block must be proportional to the amount of native cryptocurrency held by the actor.


    Proof-of-Work

    PoW refers to a consensus mechanism that encourages actors to solve computationally difficult problems for developing the ability to produce the next block in a blockchain. READ MORE


    Public Blockchain

    A public blockchain is a globally open network, such that, anyone can participate in the transactions, in the execution of consensus protocol, and in the maintenance of shared ledger. READ MORE


    Public Key

    A specific type of cryptographic equation or collection of parameters corresponding to a related private key is known as public key. Public key is helpful for decrypting a message encrypted symmetrically by leveraging the related private key.


    R

    Relayer

    Relayer refers to a party that hosts an off-chain orderbook. Relayer assists traders to find out counter-parties and then exchange order between them in a cryptographic manner.


    Ring Signature

    Ring signature is a private-key focused cryptographic signature with an option for decryption or verification through multiple valid keys.


    S

    Shard

    A small portion of the entire network is known as Shard, whereas Sharding is the process of splitting the complete network into many small portions, shards. Each shard has an independent state i.e. unique smart contract and account balance. READ MORE


    Solidity

    Solidity is a popular smart contract programming language specifically tailored for the Ethereum Virtual Machine.


    Santoshi Nakamoto

    It’s the name that was used by the assumed individual/ individuals who developed bitcoin. Nakamoto published the white paper in 2008, describing about the project. He also invented the first blockchain database. READ MORE


    Scalability

    Scalability refers to the ability of a blockchain project to handle the network traffic, capacity of application, and future growth.


    Secure Hash Algorithm

    Secure Hash Algorithm or SHA is a cryptographic hashing function tailored by the United States National Security Agency. You can find the specific implementation of the algorithm by its numeric suffix.


    Serialization

    It is process of converting a data structure into an encoding format that consists of the series/sequence of bytes.


    Slashing Condition

    A condition that results in the smashing of the validator’s deposit on trigger.


    Smart Contract

    Smart contract in blockchain refers to the code that you can execute in the environment of a virtual machine. READ MORE


    Stablecoin

    Stablecoin is the cryptocurrency that minimizes the volatility of the stablecoin price, with respect to an asset or assets. Stablecoin is measured with respect to a known amount of an asset, so it remains stable. READ MORE


    State Machine

    State machine basically points out to a model of computation, and at any specific instance, a state machine could feature one out of a finite set of states.


    T

    Token

    A token is the digital representation of an asset built over existing blockchain. They are designed for uniqueness, instant transferability, liquidity, digital scarcity, and security.


    Testnet

    An alternative to blockchain developer who tests the applications in a somewhat real (near-live) environment.


    Testnet Koven

    It refers to an Ethereum Testnet that supports parity clients and uses Proof of Authority consensus.


    Testnet Rinkeby

    It refers to an Ethereum Testnet that supports geth clients and uses Proof of Authority consensus.


    Testnet Ropsten

    It refers to an Ethereum Testnet that supports both the geth and parity clients and uses Proof of Authority consensus.It is mostly similar to mainnet.


    Tokenization

    Tokenization is a process that allows the translation of business goods, strategies, or services into discrete units that are tradable and can be recorded on a blockchain. READ MORE


    Total Complete

    It is a functional, less universal programming language that lacks non-deterministic functions, but have more characteristics.


    Transaction

    An input/ addition into a blockchain that can make some changes in the existing blockchain data is known as a transaction. READ MORE


    Transaction Block

    Transaction block refers to a collection of transactions on the blockchain that can be hashed and submitted to the blockchain.


    Transaction Fee

    The minimal fee imposed on certain transactions delivered through a blockchain network is known as the transaction fee.


    Transaction Pool

    Transaction pool is a pool or list of transactions, propagating through a common network, but haven’t added in a block.


    Turing Complete

    It refers to the capability of a programming language to simulate a Turing machine.


    Turing Machine

    A machine that can perform any task or algorithm, that can be performed by a computer.


    U

    Unspent Transaction Output

    UTXOs enabled blockchains to have each transaction referencing the output of previous transactions and consuming all the tokens of the output. UTXO is important for reinforcing the immutability of blockchain.


    V

    Vyper

    Vyper is a programming language, that is used for building smart contracts. It can also be complied for Ethereum.


    Validator

    The validator in a blockchain ecosystem basically refers to a participant in Proof of Stake consensus algorithm. Validators have to submit security deposits for inclusion in the validator set.


    Virtual Machine

    Virtual Machine refers to an operating system that runs on another operating system. Virtual Machines are important for allocating the processing strength of large servers to the simpler / smaller applications.


    W

    Wallet

    Wallet is a software, containing private keys, that interact with the PKI (Private Key Infrastructure).


    Wallet (Multi signature)

    A multi signature wallet needs more than one private key signature for generating a valid transaction. Multi signature wallet can be shared by multiple actors while it’s not necessary that they all will participate in every transaction.


    Web Assembly (WASM)

    WASM is a binary instruction format that is generated for a virtual machine, created to be implemented by all web browsers. Web Assembly enables developers to add all the functionalities that can not be added by the JavaScript or HTML code.


    Z

    Zeppelin

    Zeppelin is a reference to a community of smart contract developers. It is also sometimes known as "Open Zeppelin".


    zk-SNARK

    zk-SNARK (zero-knowledge succinct non-interactive argument of knowledge) is a cryptographic proof system that is used to verify a transaction without disclosing the transaction data, and without connecting with the user who initiated that transaction.


    Zero-Knowledge Proof

    Zero-Knowledge Proof is a cryptographic mechanism meant for helping users in representing assertions where output value can be determined easily without any input information.
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