Gas Fee

Blockchain

A distributed, immutable digital ledger that records transactions across a network of computers without a central authority.

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.

The maximum profit that can be extracted from block production by reordering, inserting, or censoring transactions, a fundamental economic phenomenon in blockchain networks.

A blockchain-based token that provides access to a specific product, service, or platform functionality, rather than representing ownership or investment rights.

A cryptocurrency token that grants holders voting rights on protocol decisions and changes.

A self-sovereign identity framework where individuals control their own digital identity credentials without centralised authorities.

Distributed file storage systems where data is spread across multiple nodes rather than centralised servers.

InterPlanetary File System — a peer-to-peer distributed file system for storing and sharing data in a decentralised manner.

A blockchain architecture improvement that allows smart contracts to act as user accounts, enabling features like social recovery, gas sponsorship, and batched transactions.

A service that provides external real-world data to blockchain smart contracts that cannot access off-chain information directly.