Glossary

Used to send and receive transactions on a blockchain network. An address is an alphanumeric character string, which can also be represented as a scannable QR code. In Ethereum, the address begins with 0x. For example: 0x06A85356DCb5b307096726FB86A78c59D38e08ee.

AI development involves creating intelligent systems that perform tasks using data-driven learning.

A method for securing computers in which the device does not connect to the internet or any other open networks.

A token distribution method used to send cryptocurrency or tokens to wallet addresses. Sometimes airdrops are used for marketing purposes in exchange for simple tasks like reshares, referrals, or app downloads.

Alpha is valuable information shared before it hits the general public on upcoming drops, news, updates, and more.

Any digital currency alternative to Bitcoin. Many altcoins are forks of Bitcoin with minor changes (e.g., Litecoin).

An interface between two binary program modules, often one program is a library and the other is being run by a user.

Augmented Reality is the tech used to create an overlay of digital information of visuals, sounds and haptics.

Asset tokenization is the process of converting physical or digital assets into blockchain-based tokens.

A cross-chain trading mechanism that enables users to exchange one cryptocurrency for another without the need for a centralized exchange.

Under the Proof of Stake mechanism (on the Beacon Chain), every validator other than the one proposing a new block will provide an attestation, or vote, in favor of a block with which it agrees, hereby forming consensus and confirming the block and the transactions it contains. See also ‘Proof of Stake’.

A profile pictures style NFT that can also represent a 3D version that can be used in blockchain gaming and the metaverse.

The Beacon Chain (always capitalized) is one element in the infrastructure being built to scale Ethereum, and is the foundation for a transition from a Proof of Work (PoW) consensus mechanism to Proof of Stake (PoS). For more information, see this guide.

BFSI blockchain refers to using blockchain solutions in banking, financial services, and insurance.

Think of a blockchain as consisting of a ledger that is being constantly updated, and those changes synced between any number of different nodes (indeed, “distributed ledger technology” is another phrase used to describe it). After a certain number of transactions have been added to the ledger and consensus has been reached among the nodes that the transactions are valid, then they are cryptographically locked into a “block” and officially recorded. This “block” forms the basis for the next one; in this way, they are all linked together in a chain, hence–blockchain.

A tool that allows users to view and search the contents of the blockchain.

The number of blocks connected together in the blockchain. For example, Height 0 would be the very first block, which is also called the Genesis Block.

The reward given to a miner after it has successfully hashed a transaction block. Block rewards can be a mixture of coins and transaction fees. The composition depends on the policy used by the cryptocurrency in question, and whether all of the coins have already been successfully mined. The current block reward for the Bitcoin network is 12.5 bitcoins per block.

When we talk about ‘block time’, we’re referring to how long it takes for a block of transactions (see ‘block’) to be confirmed by the network, either by miners under PoW or by validators under PoS. See also ‘Proof of Work’, ‘Proof of Stake’.

A method of storing data in discrete sections (blocks) that are linked together. Blockchains specify criteria for what data can be stored in a block and reject invalid data. The submission of blocks to a decentralized blockchain is governed by its consensus mechanism.

Blockchain development is the creation of decentralized systems that securely record and verify transactions.

A reward offered for exposing vulnerabilities and issues in computer code.

Bytecode is a “low-level” computer language, that is, meant to be processed by a computer, rather than a “high-level”, more human-readable, language. In Ethereum, higher-level Solidity is compiled into Ethereum bytecode, which is read by the Ethereum Virtual Machine (EVM).

The ability of a network to properly reach consensus at any time, assuming that no more than 1/3 of its actors are malicious.

A “hard fork” in the Ethereum network that occurred in October of 2017. For detailled information, see here; see also “hard fork”.

Carbon credit tokenization turns carbon offset credits into verifiable blockchain-based digital tokens.

A centralized authority that correlates identities with a public/private key pair in a private key infrastructure.

Derived from “Commerce & Decentralized Finance”, Codefi, part of ConsenSys, is building a suite of commerce and financial applications.

A coin, in cryptocurrency, is a representation of digital asset value that is generated via its own independent blockchain.

A method of storing cryptocurrencies offline to protect them from hackers.

An offline wallet that is never connected to the internet. These wallets protect cryptocurrencies from getting hacked online.

A confirmation happens when the network has verified the blockchain transaction. Under a Proof of Work (PoW) consensus mechanism, this happens through a process known as mining; under Proof of Stake (PoS), the process is known as validation. Once a transaction is successfully confirmed it theoretically cannot be reversed or double spent. The more confirmations a transaction has, the harder it becomes to perform a double spend attack.

A cross-chain bridge enables assets and data to transfer between two different blockchain networks.

A cryptocurrency wallet is a digital tool that stores, sends, and receives crypto assets securely.

A system of abstract representations of the ability to reconcile debts that is generally accepted or in use. Money is a currency. In the United States of America, the U.S. Dollar is the national currency.

An open source, software application with backend code running on a decentralized peer-to-peer network rather than a centralized server. You may see alternate spellings: dApps, DApps, Dapps, and Đapps.

DApp development focuses on building decentralized applications that run on blockchain networks.

The transfer of authority and responsibility from a centralized organization, government, or party to a distributed network.

A decentralized exchange is a platform for exchanging cryptocurrencies based on functionality programmed on the blockchain (i.e., in smart contracts). The trading is peer-to-peer, or between pools of liquidity. This is in contrast with a centralized exchange, which is more akin to a bank or investment firm that specializes in cryptocurrencies. There are important technical and regulatory differences between the two which are constantly evolving.

A directed graph structure (e.g., flow chart) that has no recursive routes (i.e., traversing the graph will never go twice through the same route or branch).

A type of cyber-attack in which the perpetrator continuously overwhelms the system with requests in order to prevent service of legitimate requests.

A type of database which spreads across multiple sites, countries, or institutions. Records are stored sequentially in a continuous ledger. Distributed ledger data can be either “permissioned” or “unpermissioned” to control who can view it.

The Ethereum Name Service is a protocol to assign human-readable and easy-to-remember addresses to Ethereum addresses and assets, homologous to the traditional internet’s DNS.

A group of Ethereum core developers, startups, and large companies working together to commercialize and use Ethereum for different business applications.

In the context of cryptography, ‘entropy’ refers to ‘randomness’; generally, the more random something is (the more entropy it has), the more secure it is.

EOS is a Blockchain 3.0 chain that focuses on transaction throughput. It uses a Delegated Proof-of-Stake (DPoS) consensus mechanism and web assembly (WASM) for smart contracts.

As stated above, this is another standard for Ethereum smart contracts, which allows for the issuance of a non-fungible token, also known as an NFT. This token standard is used to represent a unique digital asset that is not interchangeable.

Ether is the native currency of the Ethereum blockchain network. Ether—also referred to as ETH (pronounced with a long “e”, like “teeth” without the “t”)—functions as a fuel of the Ethereum ecosystem by acting as a medium of incentive and form of payment for network participants to execute essential operations. The cryptocurrency of Ethereum has a lowercase e. The plural of ether is just ether; its abbreviation is ETH, with a space: I have 10 ETH.

EIPs describe standards for the Ethereum platform, including core protocol specifications, client APIs, and contract standards. They are, precisely, proposals for modifications to the network and the way it functions.

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A fiat on-ramp allows users to buy cryptocurrency using traditional money like USD or INR.

Genesis blocks can be configurable to create a fork of a chain for purposes such as pre-loading accounts with tokens for a test network or specifying different block parameters.

Gold tokenization converts physical gold into secure and tradable blockchain tokens.

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A protocol that enables payments between different ledgers and networks.

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Metaverse development creates interconnected virtual worlds powered by 3D environments and blockchain.

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An oracle network provides real-world data to blockchain smart contracts.

A crypto payment gateway enables businesses to accept cryptocurrency payments securely.

Zero-Knowledge Succinct Non-interactive Arguments of Knowledge represent an incredible leap forward in modern cryptography—necessary not just for scaling blockchain tech and decentralized web but also for building real digital trust. The mathematics behind them can be daunting; in fact, it is their very complexity that imbues them with such strength. If you want something clear and self-assured as a starting place, this explanation from the Ethereum Foundation will serve you perfectly well—and faithfully.