Category: 3. Blockchain Terminologies

A cryptocurrency which is underwritten by an asset or assets (e.g., fiat currency, commodities, etc.) designed to minimise the volatility of the price of the coin/token. 62. State Channel A process by which blockchain transactions are executed off-chain, collected and then written to the main chain as a single transaction in order to improve performance…

The legal process of a business identifying and verifying the identity of its clients. KYC requirements vary from jurisdiction to jurisdiction. 42. Liquidity The ease of converting an asset (or, in this case, cryptocurrency) to cash (fiat). 43. Mainnet The production version of a blockchain. 44. Merkle Tree/Hash Tree In cryptography, a Merkle or hash…

A mathematical scheme for verifying digital messages or documents satisfy two requirements – they have authenticity (from a known sender) and integrity (were not altered in transit. 22. Decryption This is the method of turning cypher-text into plaintext. 23. Encryption It is the method of turning a clear-text message (plaintext) into an information stream (cypher-text)…

Blockchain is a novice concept for almost everyone inside and outside the world of technology, hence while learning more about it one realizes that there are a lot of unfamiliar terms and the best way to learn them is by understanding what each one entails. Hence, here is a list of some of the most…