Web3, Blockchain and Digital Assets Dictionary - Kanoe Pelfrey

Web3, Blockchain and Digital Assets Dictionary (eBook)

Next Wave of Tech 1000+ Terms

Kanoe Pelfrey (Autor)

eBook Download: EPUB

2023 | 1. Auflage
194 Seiten
Bookbaby (Verlag)
979-8-3509-0054-5 (ISBN)

This book was designed as a method to improve mainstream adoption with Web3, Blockchain & Digital Assets. It is a resource for people wanting to become more familiar with this type of technology and how it will play a large role in the future. There are over 1000 terms in this dictionary which is intended to increase people's connection with the implementations of this technology. In the past, people would read the dictionary to become more familiar with what was happening in the world, and it became a source of information. Many people in historical times were educated with using a dictionary and it became a desired item in most people's households because of the information it provided. With the advancement of technology increasing each day, it only seems appropriate to help people understand what these technologies are, the roles of these technologies and know other terms that express certain situations in the marketplace. Included in this dictionary is informal slang and terminology to understand the context of situations with symbolism of what it means in the tech world. This dictionary is meant to help beginners to professionals in the Web3, Blockchain & Digital Assets field. As these types of technologies keep developing, we want the readers to develop their knowledge with it. We strive to provide universities and schools our dictionary of terms and the language in Web3, Blockchain & Digital Assets. Actively, we are working to improve students' educational experiences in technology.

Absolute Advantage. It is an economic concept to refer to when one party will have a direct advantage in efficiency when it comes to producing and providing a certain good or service over another party.

Accidental Fork. This usually occurs when there are two or more miners that discover a block at almost the same. What happens next is forking the chain. With Consensus, Accidental Forks are generally quickly to identify and be resolved. One chain will become longer than the other and the network will then abandon the Blocks which are not in the longer chain.

Account. It is an object that consists of an address, balance, nonce, code and optional storage. It is an account that can be an externally owned account (EOA) or a contract account.

Account Abstraction Layer (AAL). It is the technical infrastructure which helps smart contract development be possible on the Qtum blockchain and the foundational layer of Qtum continues to follow the UTXP model that is used on blockchains like Bitcoin. The AAL on Qtum lets the account model to be used on Ethereum to be transferred or abstracted to work on top of the UTXO model. Qtum LL allows the UTXO and account models to interact because it becomes a computing go between.

Account Checker Tool. It is a program or script that will take a list of passwords and usernames that are known as combolist that tests against a set of target websites where the account checker tools will increase the speed along with efficiency where an attacker is able to test a large volume of credentials on a broad range of service providers and websites. The tools are mostly used by malicious actors that will look to commit fraud or identity theft against the account holders that they have stolen access from.

Account Model. It is a blockchain architecture that shows value transfer and direct information. Platforms for smart contracts like Ethereum will use the account model compared to the UTXO model that the Bitcoin network uses that limits the capabilities of smart contracts. One negative effect would be the account model architecture has difficulty in scaling transactions per second (TPS).

Account Tree. J.D. Bruce proposed a core component of the “Mini Blockchain scheme that is used to solve the Blockchain Scalability problem. It is a self-contained balance sheet that is able to act as a database for all the non-empty addresses. The component of this term’s name comes from Hash tree structure of a database. Accounts can be organized into a tree.

Accredited Investor. This is someone that has a network that is greater than $1,000,000 and will meet certain additional income requirements. People who are qualifying individuals may file with the SEC to be able to obtain this status. When it comes to the U.S., only accredited investors are able to invest in venture capital funds, hedge funds and other advanced forms of investing.

Active Management. It is an investing strategy that is employed by fund manager to work to outperform a market or index in hope to generate profits.

Actor. It is an entity that is capable of participating in a network or in an action.

Adaptive Information Dispersal Algorithm (Harmony). It is used for separating parts of data on Harmony’s blockchain that introduce faster propagation of blocks together with RaptorQ erasure encoding along with other technology. This is a huge component of Harmony’s adaptive state sharding solution.

Adaptive State Sharding (Elrond Network). It makes use of parallel processing by combining the three standardized sharding types which are state, network and transaction sharding all into once balanced high performance system. This result will then secure blockchain with fast transaction times and scalability. This will allow shard merging and shard splitting that makes the network to be able to operate more efficiently which will improve the overall network performance.

Address. This is a special identifier of alphanumeric characters that represents a virtual destination for accepting and sending a transaction that is blockchain.

Address Delegation. It is the delegation of a wallet’s stake to a super staker.

Administrator. This is a person who is involved or engaged as a business in issuing or putting into circulation a virtual currency. This person has the authority to withdraw from circulation such virtual currency.

Ad Hoc. It is a Latin Phrase in modern English to mean specifically for this or for this purpose.

Admin Key. It will hold special access that allows changes to a project’s protocol or smart contract. It is usually held by the founders of a project or cire team where the proponents of decentralization will argue that holding admin keys will go against decentralized governance practices and create security risks where many projects have made clear their intentions to eliminate them from practice.

Advanced Research Projects Agency Network (ARPANET). It is an early version of the internet where ARPANET was created by the U.S. Department of Defense and used two technical foundations of the modern internet such as a packet switching network with distributed control and TCP/IP.

Aeternity Blockchain. It is known as a platform specific Sofia smart contract, Fate Virtual Machine (VM) framework, state channel scaling technology and also known as its own decentralized oracle along with governance structure. It is designed for DeFi, contract, document, invoice, payments, loans, receipt management, blockchain based identity, Internet of Things blockchain identities, blockchain hardware, gaming, fungible along with non-fungible tokens (NFTs) and other uses. They launched their mainnet in 2018.

AFK. Slang for Away from Keyboard and used on social media platforms such as Twitter where users will share their trading activity though only want to receive messages while they are logged into their account. Most of the time AFKs will trade for longer periods of time compared to those who are active on their feeds.

Agreement Ledger. A distributed ledger which is used by two or more parties to negotiate and arrive at an agreement.

Airdrop. This is a giveaway of Tokens to the Wallets (software) of users. This is generally used for marketing purposes to increase popularity and awareness of a particular cryptocurrency. Airdrops are mostly free or happen in return for the user’s efforts to generate publicity such as posting subscribing or sharing information related to the cryptocurrency on social media.

Airnode (API3). It is an airnode and an oracle node signed to be easily deployable by application programming interface providers that want to be a part of the API3 blockchain protocol to bring their data feed on chain. Airnode allows API providers to run their own node with not a lot of maintenance which will allow them to interface their API data feed with smart contract platforms. Then an API provider uses an airnode when they become a first party oracle that provides data directly to the blockchain though without the involvement of intermediary nodes.

Air-Gapping. It is a way for securing computers where the device does not connect to the internet or any other open networks. Many hardware wallets will use air-gapping to keep users’ private keys or secret recovery phrase offline as a security mechanism that will help make it be safer from any kind of attack.

Algorithm. Is a system for solving a specific class of problems. Algorithms are step by step instructions that are given to a computer to produce a wanted outcome. When it comes to cryptocurrency, each Consensus model follows a certain algorithm.

Algorithmic Trading (Algo Trading). It is a strategy of using software to buy and sell certain assets strategically. Sometimes this software is known as a trading bot or an algorithmic trading bot.

Allocation. It is a certain amount of tokens or equity that can be purchased, earned, or set aside for a certain team, group, investor, or organization related entity.

Alpha. Slang for valuable insider information.

Alt. Slang for altcoin, any new or not established coin in the ecosystem.

Ape. Someone who is considered bullish on Web3.

Algorand Smart Contract (ASC1). It is a smart contract that will operate on the Layer 1 of the Algorand protocol. ASC1 will represent a small smart contract with larger smart contract being reserved for Layer 2. It is written in an assembly like programming language called Transaction Execution Approval Language (TEAL) that is then interpreted by Algorand nodes.

Algorand Standard Asset (ASA). It is an on-chain asset that is native to the Algorand blockchain protocol. ASAs have the same speed along with security as Algorand’s consensus protocol and ASAs can be fungible or non-fungible that represent items as varied as stablecoins, in game point or a deed to a house. ASAs will adhere to several parameter that are determined by Algorand and allow developers more...

Erscheint lt. Verlag	25.7.2023
Sprache	englisch
Themenwelt	Technik
ISBN-13	979-8-3509-0054-5 / 9798350900545

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