Blockchain is a kind of underlying application technology. It was the first to try to apply it to digital currency scenarios. Bitcoin is the best example. Its many advantages are reflected in encrypted currency, and it is gradually known and accepted by people around the world. When entering the chain circle, many people may be confused by various professional terms. Therefore, today we have compiled the 48 most common blockchain terms for your reference.
1. Blockchain-Blockchain
Blockchain is a new application mode of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithm. It is a shared distributed ledger in which transactions are permanently recorded through additional blocks.
2.Block——Block
In the Bitcoin network, data is permanently recorded in the form of files, which we call blocks. A block is a record set of some or all of the latest Bitcoin transactions, and has not been recorded by other previous blocks.
3. Block header
The block header stores the block header information, including the hash value of the previous block (PreHash), the hash value of the block body (Hash), and the timestamp (TimeStamp), etc.
4. Satoshi Nakamoto
Claiming to be Japanese American, Japanese media often translates as Nakamoto Tetsushi. This person is the creator of the Bitcoin protocol and its related software Bitcoin-Qt, but his true identity is unknown.
5. Cryptocurrency
Encrypted currency is a type of digital currency (or virtual currency). It is a transaction medium that uses cryptographic principles to ensure transaction security and control the creation of transaction units.
6. Node-Node
A copy of the ledger operated by the participants of the blockchain network.
7、Oracles
Oracle provides a bridge between the real world and the blockchain by providing data to smart contracts.
8. Decentralization
Decentralization is a phenomenon or structure that can only appear or exist in a system with many nodes or in a group with many individuals. The influence between nodes will form a non-linear causal relationship through the network.
9. Consensus mechanism
The consensus mechanism is to complete the verification and confirmation of the transaction in a short time through voting by special nodes; for a transaction, if several nodes with irrelevant interests can reach a consensus, we can think that the whole network can also do this Reach a consensus.
10. Pow-proof of work
Proofof Work refers to how much currency you get, which depends on the amount of work you contribute to mining. The better the computer performance, the more mines will be allocated to you.
11. PoS-proof of equity
Proof of Stake is a system of interest distribution based on the amount and time of currency you hold. In the POS mode, your "mining" income is proportional to your currency age, and has nothing to do with the computer's computing performance.
12. Smart contracts
A smart contract is a computer protocol designed to spread, verify or execute a contract in an information-based way. Smart contracts allow for trusted transactions without a third party, which are traceable and irreversible.
13. Timestamp
Timestamp refers to the character string or coded information used to identify the recorded time and date. The international standard is ISO 8601.
14, Turing complete
Turing completion refers to the ability of a machine to perform calculations that can be performed by any other programmable computer. An example is the Ethereum Virtual Machine (EVM).
15.51% attack
When a single individual or a group has more than half of the computing power, this individual or group can control the entire cryptocurrency network. If they have some malicious ideas, they may issue some conflicting transactions to damage the entire network.
16. Dapp-decentralized application
It is an open source application that runs automatically, stores its data on the blockchain, incentivizes it in the form of cryptographic tokens, and operates with a protocol that shows proof of value.
17. DAO-Decentralized Autonomous Organization
It can be considered as a company that operates without any human intervention and delegates all forms of control to a set of indestructible business rules.
18. Distributed Ledger-distributed ledger
Data is stored through a distributed node network. The distributed ledger does not have to have its own currency, it may be licensed and private.
19. DistributedNetwork-distributed network
Processing power and data are distributed on nodes instead of a network with centralized data centers.
20, oracle
An oracle is a trusted entity that introduces information about the state of the external world through signatures, thereby allowing a certain smart contract to react to the uncertain external world. The oracle has the characteristics of non-tampering, stable service, auditable, etc., and has an economic incentive mechanism to ensure the power of operation.
21. Zero knowledge proof
Zero-knowledge proof was proposed by S.Goldwasser, S.Micali, and C.Rackoff in the early 1980s. It means that the prover can convince the verifier that a certain assertion is correct without providing any useful information to the verifier.
22, PrivateKey-private key
A private key is a string of data, which is a token that allows you to access a specific wallet. They are used as passwords and are hidden except for the owner of the address.
23, PublicKey-public key
It appears as a pair with the private key. The public key can calculate the address of the coin, so it can be used as a proof of possession of the coin address.
24, AES-advanced encryption standard
The Advanced Encryption Standard (AES) in cryptography, also known as Rijndael encryption, is a block encryption standard adopted by the US Federal Government.
25.Wallet——Wallet
A file containing the private key. It usually contains a software client that allows access to view and create transactions on a specific blockchain designed by the wallet.
26, cold wallet
Generally speaking, a cold wallet is a wallet that stores digital currency offline. Players generate digital currency addresses and private keys on an offline wallet, and then save them. The cold wallet stores digital currency without any network, so hackers cannot enter the wallet to obtain the private key.
27, SPV-light wallet
Light wallets rely on other full nodes on the Bitcoin network and only synchronize data related to themselves, which can basically achieve decentralization.
28, full node
A full node is a node with a complete blockchain ledger. The full node needs to occupy memory to synchronize all blockchain data, can independently verify all transactions on the blockchain and update data in real time, and is mainly responsible for the broadcast of blockchain transactions And verification.
29. Byzantinefailures-Byzantine generals problem
The Byzantine Generals problem is a basic problem in peer-to-peer communication proposed by Leslie Lambert. The implication is that it is impossible to try to achieve consistency through message delivery on an unreliable channel with message loss. Therefore, the research on consistency generally assumes that the channel is reliable, or there is no such problem.
30. Hyperledger
Hyperledger is an open source project initiated by the Linux Foundation in 2015 to promote blockchain digital technology and transaction verification. By creating a common distributed ledger technology, assisting organizations to expand and establish industry-specific applications, platforms and hardware systems to support members' respective trading businesses.
31. Lightning Network
The purpose of the Lightning Network is to securely conduct off-chain transactions. In essence, it uses a hash time-locked smart contract to securely conduct zero-confirmation transactions. By setting up clever “smart contracts”, users can be Unconfirmed transactions on the Internet are as safe as gold.
32. P2P-peer-to-peer network
That is, a peer-to-peer computer network is a distributed application architecture that distributes tasks and workloads among peers. It is a networking or network form formed by the peer-to-peer computing model at the application layer.
33. Mining-mining
Mining is the nickname for the exploration method for obtaining Bitcoin. The process of using computer hardware to calculate the location of the currency and obtain it is called mining.
34. Miners
Try to create blocks and add them to computing devices or software on the blockchain. In a blockchain network, when a new valid block is created, the system generally automatically gives the block creator (miner) a certain amount of tokens as a reward.
35. Mining Pool
It is a fully automatic mining platform that allows miners to contribute their own computing power to mine together to create blocks, obtain block rewards, and distribute profits according to the percentage of computing power contribution (that is, the mining machine is connected to the mining pool-providing computing Strength-gain income).
36. Public chain
A completely open blockchain refers to a blockchain that can be read by anyone, anyone can send transactions, and transactions can be effectively confirmed, people all over the world can participate in system maintenance, and anyone can trade or mine Mine reads and writes data.
37. Private chain
Write permission is only for the blockchain of a certain organization or a specific minority of objects. Reading permissions can be open to the outside world, or restricted to any degree.
38. Alliance Chain
The consensus mechanism is a blockchain that is jointly controlled by a number of designated institutions.
39. Main chain
The term main chain comes from mainnet (as opposed to testnet), which is an independent blockchain network officially launched.
40, side chain
Pegged sidechains (pegged sidechains), it will realize the transfer of Bitcoin and other digital assets between multiple blockchains, which means that users can access new assets while using their existing assets. Cryptocurrency system.
41. Cross-chain technology
Cross-chain technology can be understood as a bridge connecting various blockchains. Its main application is to achieve atomic transactions between various blockchains, asset conversion, internal information exchange between blockchains, or to solve Oracle problems.
42. Hard fork
The block chain has permanent divergence. After the new consensus rules are released, some nodes that have not been upgraded cannot verify the blocks produced by the upgraded nodes. Usually, a hard fork will occur.
43, soft fork
When the new consensus rules are released, the nodes that have not upgraded will produce illegal blocks because they do not know the new consensus rules, and temporary forks will occur.
44, Hash-hash value
The general translation is "hash", but there are also direct transliterations as "hash". Simply put, it is a function that compresses messages of any length to a fixed-length message digest.
45. Hash rate
Assuming that mining is to solve an equation problem, and it can only be calculated by substituting each integer, then the hash rate is the speed of processing data per second.
46, hashtree-hash tree
Hash tree is a tree-shaped data structure. Each leaf node uses the hash of the data block as a label, while non-leaf nodes use the encrypted hash of its child node label as the label.
47、SHA256
SHA-256 is an encryption algorithm used by a series of digital currencies of Bitcoin. However, it uses a lot of computing power and processing time, forcing miners to form mining pools to obtain revenue.
48 、 Kyc
KYC is the abbreviation of Know Your Customer, which means to know your customers. In the international "Anti-Money Laundering Law" regulations, organizations are required to have a comprehensive understanding of their customers in order to predict and discover unreasonable aspects of business behavior And potential violations.
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