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 11 names in this directory beginning with the letter D.
Acronym for "Decentralized Autonomous Learning Organization", the DALO is similar to the DAO, but also encompasses the delivery of educational content and the management of the learning process independently of human leadership. It is, at its core, an entirely free-market driven set of educational courses whose course work is set by the market and not by committee.
A "Decentralized Autonomous Organization" is an entity that is run through rules encoded as computer programs called smart contracts. Decentralised Autonomous Organizations can be thought of as businesses whose bylaws are predetermined by a set of computer rules and not by a centralized seat of power. The leadership of a true DAO is the set of bylaws and not human interference.
This is an abbreviation for the term "Decentralised Application". A dApp is an open-source, autonomous application that interacts with and stores data on a blockchain. This decentralized application derives value in the form of digital assets. The only difference between a regular app and a dApp is that the dApp is decentralized and runs on the chain versus operating in a centralized environment.
Without central control or influence. A government or most typical organizations are run from a central point. Decentralized, especially in the blockchain and cryptocurrency world, refers to a completely free market system run with zero input, influence or control by anyone other than the actual participants. The implications are that, from a currency perspective, a government or central bank would not be able to control, influence or manipulate a currency. Only the free market would have any impact. 
For Proof of Work, or PoW mining, "Difficulty" is how much competition there is for mining. Many think diffieculty can only increase as more mining participants get involved, but it is actually possible for difficulty to decrease as miners exit a coin. Difficulty is reverse engineered to control the pace of mining. It keeps block production at one every ten minutes and adjusts every 2016 blocks.
Digital Commodity
Also known as a coin, altcoin or digital asset, this term refers to any electronically transferrable, intangible asset with value in the marketplace due to finite supply and scarcity.
Digital Identity
Similar to a thumbprint, a digital identity is a unique identifier for any online or network resource that clearly identifies an individual, organization or electronic device. For cybersecurity, the primary objective is to prevent theft, electronically or physically, of a digital identity.
Digital signature    
As part of a digital identity, a digital signature presents proof of authenticity, delivery, interaction or acceptance between two or more parties.  It is a mathematical function used to prove the identity and validity of digital assets. A digital signature is a public key / private key encrypted relationship associated with an electronically transmitted document or program.
Distributed Ledger
This ia a database or record set that is kept and maintained across a network rather than stored in a central location. It is independently held in individual nodes (participants) in a large network. Records are not stored or maintained by a central authority and this redundancy is what makes the blockchain immutable. Once a record is in the public domain, it is there permanently. Aside from cryptocurrency, there are many business and personal applications for distributed data.
Distributed Network
Similar to a distributed ledger, a distributed network uses the concept of spreading functionality and computing power across a large network rather than keeping it contained in a single location. Using smaller pieces of individual computing power, distributed networks can apply massive computing power by taking the small pieces and aggregating them as a collective computing unit.
Double Spend
When someone attemps to send the same bitcoin to two different recipients, you get something called Double Spending. A double spend attack is synonymous with a 51% attack where a group of miners on a blockchain who hold a majority elect to collude in an effor to spend their cryptocurrency twice. Once a transaction is confirmed however, it makes it almost impossible to double spend. The more confirmations, the harder it is to perform this type of attack.
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