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Tag: Glossary

Glossary of commonly found crypto terms, acronyms, profiles, and useful resources.

Parachains

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What are Parachains? A parachain is a data structure that is application-specific yet is globally coherent and validatable by the Relay Chain’s validators. They are named after the parallelized chains that run parallel to the Relay Chain. Parachains connects different DApps in the ecosystem and enables signature chains for any service for use with the Relay chain’s consensus. The Relay Chain is a data structure that acts...

Glossary, Staking

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Mining

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Mining is the process of adding blocks to a blockchain and validating transactions. It’s also the method by which new bitcoins or altcoins are generated. When a miner successfully validates a block, they receive a reward for successfully validating it. This is usually the equivalent of a few dollars or the process is keyed to how long it took to validate the block. It can also vary depending on the number of miners working on the...

Blockchain, Crypto Mining, Glossary

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Governance

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What is on-chain Governance? Off-chain governance is a decentralized system for managing governance conflicts by allowing token stakeholders to vote on decisions that affect the network. This voting process is executed via appointed delegates instead of each node. On-chain governance is a system for managing and implementing changes to cryptocurrency blockchains. In this type of governance, rules for instituting changes are...

Glossary

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Hard Fork

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A hard fork occurs when a blockchain “splits” into two independent blockchains that run in parallel, each having its own set of settings from the previous chain. The hard forking destroys crypto-asset forward compatibility. As a result, even if the transaction history and parameters are identical before the hard fork, the history of both networks separates after the event, and any subsequent activity beyond the fork will not...

Blockchain, Glossary

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Masternodes

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What Are Masternodes? Masternodes are an owner-maintained servers, somewhat like full nodes, but with additional functionality such as anonymizing transactions, deleting transactions, and participating in governance and voting. A node is a computing device that aims to validate blocks and transactions. Masternodes were initially popularized by Dash in 2014 to reward the owners of these servers for maintaining a service for the...

Blockchain, Glossary

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