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

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There are currently 6 names in this directory beginning with the letter T.
Testnet
In Bitcoin and most other coins / tokens, developers create a chain on which to test development and changes in code. This chain remains active and can be connected to in the same way you would connect to a "live" chain but is solely for the purpose of testing and development. 
Token     
Representation of a digital asset built on an existing blockchain.
Tokenless Ledger
This refers to a distributed ledger where a currency or coin is not needed in order for the ledger to operate. 
Transaction Block
A block is a section of data. Within that block are subsets of data including transactions. Transactions are encrypted, collected into a block and added to the blockchain.
Transaction Fee
When a transaction is processed, either by PoS, PoW or some other relevant consensus algorithm, a fee is charged for the processing effort. This "transaction fee" is paid out as a reward to the entity who processed the transaction. The rules of the chain dictate who pays the transaction fee. 
Turing Complete
If a machine can perform mathematical calculations, then it is Turing Complete. It is the capability of a machine to perform calculations that any other programmable computer is capable of performing.