Blockchain Terms
You should Know

Glossary of Blockchain Terms

Blockchain Terms

You should Know

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ABI (Application Binary Interface)

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

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51% Attack

A situation in which a majority of miners in the blockchain launch an attack on the rest of the nodes (or users). This kind of attack allows for double spending

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Alt-Coin

Some quick example

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API

Application programming interface (part of remote server that sends requests and receives responses)

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Bitcoin

The First and the most Popular, cryptocurrency based off the decentralised ledger of a blockchain

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Blockchain Public

A mathematical structure for storing digital transaction (or data) in an immutable ledger that is incredibly difficult to fake and yet remains accessible to anyone.

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Business Logic layer

A part of code that determines the rules to be followed when doing business

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Business network Card

Provides necessary information for a user, entity or node to connect a blockchain business network.

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Casper

Consensus algorithm that combines proof of work and proof of stake. Ethereum is going to use casper as a transition to proof of stake.

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CDN (Content Delivery Network)

Allows for a quick transition of assets needed to load internet content (html, js, css, etc.)

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Centralised

Maintained by a central authoritative location or group

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Chaincode

A program that initializes and manages a ledger’s state through submitting applications. It is the hyperledger fabric equal to smart contracts

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Coin

Representation of a digital asset built on a new blockchain

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Composer CLI

Hyperledger Fabric Command line allows for administrative tasks

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Composer Rest Server

Generates a rest server and associated api from a deployed blockchain.

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Consensus

Some quick When a majority of participants of a network agree on the validity of a transaction

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CRUD

Create, Retrieve, Update Delete

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Cryptographic Hash Function

A function that returns a unique fixed length string. The returned string is unique input. Used to create a “digital ID” or “digital thumb print” of an input string.

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Dapps

Decentralised Applications

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DDos Attacks

A denial of service attack is a cyber - attack in which the perpetrator seeks to make a machine or network resource unavailable to its intended users by temporarily or indefinitely disrupting services of a host connected to the internet.

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Decentralised

The concept of a shared network of dispersed computers (or nodes) that can process transactions without a centrally located, third party intermediary.

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Digital Asset

Any text or media that is formatted into binary source

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Digital Signature

A mathematical scheme used for presenting the authenticity of digital assets

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Enum

Short for ‘enumeration’ - a fixed list of possible values. The list of US states could be considered an enum

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EOA

Externally Owned Account

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ERC

Ethereum request for comments standard

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Ethereum

Blockchain application that uses a built-in programming language that allows users to build decentralised ledgers modified to their needs. Smart contracts are used to validate transactions in the ledger.

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Fork

Alters the blockchain data in the public blockchain

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Gas (Ethereum)

Measures how much work an action takes to perform in ethereum

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Genesis block

The initial block within a blockchain

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Governance

The Administration in a blockchain company that decides the direction of the company

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Github

A web based hosting service for version control using git

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Golang (Google language)

Created by google in 2009 golang is a programming language based on C

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Gossip Protocol

Gossip Protocol is a procedure or process of computer -computer communication that is based on the way social networks disseminate information or how epidemics spread. It is a communication protocol.

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Hard Fork

Alters the blockchain data in a public blockchain. Requires all nodes in a network to upgrade and agree on the new version.

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Hash Function

A function that maps the data of an arbitrary size.

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Hyperledger

Stated by the Linux Foundation, hyperledger is an umbrella project of open source blockchain.

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Hyperledger Composer

It is a blockchain application development framework which simplifies the blockchain application development on hyperledger fabric.

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Hyperledger Fabric

Hyperledger project hosted by Linux which hosts smart contracts called chaincode.

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IDE (Integrated Development Environment)

Application for software developers that primarily consists of a source code editor, build automation tool, & debugger.

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Immutable

Unable to be changed”. Data stored on blockchain is unable to be changed (not even by administrators).

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Initial Coin Offering (ICO)

The form in which capital is raised to fund new cryptocurrency ventures. Modeled after an initial public offering (IPO), investors of ICO receive tokens.

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Instantiate(d)

To provide an instance of or concrete evidence in support of a theory, concept, claim, or the like.

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Invariant

A function, quantity, or property that remains unchanged when a specified transformation is applied.

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