Intent-Based Transactions

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.

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

Self-executing programs stored on a blockchain that automatically enforce the terms of an agreement when conditions are met.

A node in a proof-of-stake blockchain responsible for verifying transactions and proposing new blocks.

A digital asset created and managed on a blockchain, representing value, utility, or ownership rights.

A radical change to a blockchain's protocol that makes previously invalid blocks or transactions valid, requiring all nodes to upgrade.

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

A Layer 2 scaling solution that executes transactions off-chain and posts compressed transaction data to the main chain.

A technical standard for non-fungible tokens on the Ethereum blockchain, ensuring each token is unique.