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Essential Blockchain Glossary for Beginners: Understanding Key Terms

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z





A

Asset

Any item of value, such as cash, land, intellectual property, or goods, that can be tracked or traded using blockchain technology.

Audit Trail

Algorithm

Arbitrage

 

B

Bitcoin - â‚¿

A digital currency created in 2009, based on blockchain technology, allowing peer-to-peer transactions without a central authority.

Block

Blockchain

Byzantine Fault Tolerance (BFT)

Burning

 

C

Consensus

The agreement among participants in the blockchain network that a transaction is valid. Achieved through consensus algorithms.

Cryptography

Cross-Border Transactions

Cryptographic Hash Function

Collateral

 

D

Decentralization

The distribution of blockchain data across multiple nodes, ensuring there is no single point of control or failure.

Digital Identity

Distributed Ledger

Double Spending

dApp (Decentralized Application)

 

F

Finality

The guarantee that once a transaction is recorded on the blockchain, it becomes immutable and permanent.

Fork

Fiat Currency

Fungibility

 

G

Gas

A fee required to execute a transaction or smart contract on the Ethereum blockchain, used to allocate resources on the network.Genesis Block:

Genesis Block

Governance

The framework of rules and practices that determine how a blockchain network is managed and updated.

 

H

Hyperledger

An open-source collaborative effort hosted by The Linux Foundation to develop blockchain frameworks and platforms for enterprise use.

Hash

Hash Rate

Hard Fork

 

I

Immutability

The feature of blockchain that ensures once a transaction is added, it cannot be altered or deleted, providing security and trust.

Intermediaries

Initial Coin Offering (ICO)

Interoperability

 

L

Ledger

A record of transactions that is shared and distributed across the blockchain network, ensuring a single source of truth.

Liquidity

Lightning Network

 

M

Mining

The process of validating transactions and adding them to the blockchain, often involving solving complex cryptographic puzzles.

Merkle Tree

Mainnet

Multisig (Multi-signature)

 

N

Node

A participant or device in a blockchain network that helps verify transactions and maintain the integrity of the blockchain.

Nostro/Vostro Accounts

Nonce

NFT (Non-Fungible Token)


 

P

Permissioned Blockchain

A blockchain where network participants are known and granted access, providing a controlled environment for business use.

Provenance

Public Blockchain

Private Key

Public Key

Proof of Stake (PoS)


 

S

Shared Ledger

A database shared across all participants in a blockchain network, allowing everyone to access and verify transactions.

Smart Contract

Supply Chain

Scalability

Sharding

Stablecoin

 

T

Token

A digital representation of an asset or utility, which can be traded or used within a blockchain network.

Transaction

Trustless

Timestamp

Testnet

 

V

Validation

The process of confirming that a transaction meets the rules of the blockchain and should be added to the ledger.

Visibility

Validator

Volatility

 

W

Wallet

A tool used to store, send, and receive cryptocurrency or tokens, often represented by a combination of a private and a public key.

Whitepaper

Wrapped Token

Witness


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