Blockchain Terms

Below is a list of blockchain terms added by us and by our readers. If you have a question about one of these terms and would like to know more, drop us a line. If you would like to add a term or think there is an error, we want to hear from you.



Blockchain Term Glossary

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Blockchain Terms

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
There are 6 names in this directory beginning with the letter B.
The first and by far most popular cryptocurrency based off SHA-256 encryption, this decentralized ledger is considered the original blockchain. Bitcoin cryptocurrency is open source and operates on a global P2P (peer-to-peer) network without the need for intermediaries or a centralized issuer.
Block Explorer
A block explorer is a web based tool any authorized user can view all transactions, past and current, on a particular blockchain. Most block explorers are open to the public. They provide useful data including network hash rate, transactions, historical growth data and address information.
Block Height
Refers to the number of connected blocks on any given blockchain. The Genesis block, or Height 0, is the very first block on a blockchain.
Block Reward
Verification of a transaction on the blockchain generates new cryptocurrency. For expending the energy to perform this work a miner is rewarded an entire coin, or fraction of a coin. Typically, the miner who successfully "hashes" or discovers a block receives the reward. Block rewards can be either a transaction fee or a portion of the coin itself depending on the mining algorithm. It can also be a hybrid of both.
The blockchain is a historical record of all transactions that ever occurred, from the genesis block to current block. The blockchain provides a mathematical structure for storing digital "sets of encrypted data" in a location that is immutable because it is stored on a distributed ledger (peer to peer network) where the information cannot be manipulated (short of a 51% attack) because it is stored and validated in multiple locations that confirm each other.
These are packages of data distributed across the network that hold permanently recorded information in specified and immutable buckets of data.
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