Blockchain

Distributed Ledger Technology

A digital system for recording, sharing, and synchronising data across multiple sites without a central administrator.

Consensus Mechanism

The method by which a distributed network agrees on the current state of the ledger and validates transactions.

Proof of Work

A consensus mechanism requiring computational effort to validate transactions and create new blocks, used by Bitcoin.

Proof of Stake

A consensus mechanism where validators are selected based on the amount of cryptocurrency they hold and stake.

Delegated Proof of Stake

A consensus mechanism where token holders vote for delegates who validate transactions on their behalf.

Byzantine Fault Tolerance

The ability of a distributed system to reach consensus despite some nodes acting maliciously or failing.

Merkle Tree

A hash-based data structure that efficiently verifies the integrity and consistency of large sets of data.

Hash Function

A mathematical function that converts input data of any size into a fixed-size output, used extensively in blockchain security.

Cryptographic Hash

A one-way function producing a fixed-length output that is computationally infeasible to reverse or find collisions for.

Public Key Cryptography

An encryption system using mathematically linked key pairs — a public key for encryption and a private key for decryption.

Digital Signature

A cryptographic mechanism that verifies the authenticity and integrity of digital messages or documents.

Decentralised Application

An application that runs on a decentralised peer-to-peer network rather than a single centralised server.

The practice of using already-staked cryptocurrency to simultaneously secure additional protocols or services, extending the economic security of one network to others.

A blockchain token where each unit is identical and interchangeable with any other unit of the same token.

A unique digital asset on a blockchain that represents ownership of a specific item, artwork, or piece of content.

An organisation governed by smart contracts and token holder votes rather than centralised management.

A computer connected to a blockchain network that maintains a copy of the ledger and participates in consensus.

The vision of a decentralised internet built on blockchain technology, giving users ownership and control of their data.

Software or hardware that stores cryptographic keys and enables users to manage their blockchain assets.

Financial services built on blockchain technology that operate without traditional intermediaries like banks or brokerages.