# Glossary

Last updated

Last updated

Term | Definition | Notes |
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Distributed Ledger

A distributed ledger (also called a shared ledger or distributed ledger technology or DLT) is the consensus of replicated, shared, and synchronized digital data that is geographically spread (distributed) across many sites, countries, or institutions.

Hash

Merkle Tree

In cryptography and computer science, a hash tree or Merkle tree is a tree in which every "leaf" node is labelled with the cryptographic hash of a data block, and every node that is not a leaf (called a *branch*, *inner node*, or *inode*) is labelled with the cryptographic hash of the labels of its child nodes. A hash tree allows efficient and secure verification of the contents of a large data structure. A hash tree is a generalization of a hash list and a hash chain.

Blocks

**Blocks **are data containers where data is permanently recorded on a blockchain.

Finite-state machine

A behavior model that consists of finite number of states

Public Key

The key available for anyone to use when utilizing Public Key Cryptography

Private Key

The key designed to decrypt data encrypted with the public key

Cryptography

the practice and study of techniques for secure communication in the presence of adversarial behavior.[

Authentication

Node

A single processing server in a communications network

Peer-to-peer (p2p)

A distributed application design that partitions taks or workloads between peers.

Game Theory

Game theory is the study of mathematical models of strategic interactions among rational agents.

Mining

On a blockchain, *mining* is the validation of transactions. For this effort, successful miners obtain new cryptocurrency as a reward. The reward decreases transaction fees by creating a complementary incentive to contribute to the processing power of the network.

Wallet

Key manager used to manage your cryptocurrencies or tokens

mnemonic phrase

Equivalent to a private key and is not encrypted.

Testnet

An equivalent technology blockchain but intended to be used of experimentation

Faucets

A provider that produces and distributes tokens for testing

Smart Contract

Collections of logic that exist on the block chain that automate transactions between two parties.

Integrated Development Environment (IDE)

A piece of software or service that facilitates the development of software.

Block Explorer

A service that facilitates the examination of the blockchain in an easy manner.

Application Binary Interface (ABI)

A JSON object that describes the input, outputs, and structure of smart contracts.

Solidity

A programming language optimized to develop smart contracts and compile them for blockchain deployment.

Compile

Transforming Human Readable code into machine code

Validators

Are authoritative mechanisms that check whether new transactions align with the network’s rules and ensure that the sender has adequate funds to complete the transaction

finite-state machine (FSM)

A finite-state machine (FSM) or finite-state automaton (FSA, plural: automata), finite automaton, or simply a state machine, is a mathematical model of computation. It is an abstract machine that can be in exactly one of a finite number of states at any given time.

A cryptographic hash function (CHF) is a hash algorithm (a map of an arbitrary binary string to a binary string with a fixed size of � bits) that has special properties desirable for a cryptographic application: