Don’t Get Lost in Translation!

As we build our community, exchanging information and ideas, it is important that we are all on the same page so to speak.  On this page you will find a glossary of terms that you may find in posts, or on Fred’s POPCASTs.  This is a fluid listing, so if you don’t find what you are looking for, shoot us a message and let us know. 

Address - A string of characters representing the destination of a cryptocurrency transaction.
Altcoin - Any cryptocurrency other than Bitcoin.
Bitcoin - The first and most well-known cryptocurrency, introduced in 2009 by an anonymous person or group called Satoshi Nakamoto.
block - Imagine a blockchain as a constantly updated ledger that is shared among various nodes. These nodes synchronize and agree on valid transactions, which are then cryptographically locked into a "block" and officially recorded. Each block serves as the foundation for the next one, forming a chain of interconnected blocks.
block height - Block height refers to the number of blocks that are linked together in a blockchain. The very first block in a blockchain, also known as the Genesis Block, has a height of 0. Subsequent blocks increase the block height.
block time - Block time refers to the duration it takes for a block of transactions to be confirmed by the network. Miners in Proof of Work (PoW) or validators in Proof of Stake (PoS) systems work to confirm and add transactions to blocks. Block time measures the time it takes for this confirmation process to occur. See also "Proof of Work" and "Proof of Stake".
Blockchain - A decentralized and distributed digital ledger that records all cryptocurrency transactions.
blockchain - A blockchain is a digital ledger composed of unalterable data recorded in blocks. Each block is cryptographically linked to the next block, forming a chain. In public blockchains like Ethereum, the ledger is distributed across multiple nodes, which reach a consensus on the validity of transactions before encrypting them into blocks. For more information on blockchain technology, refer to this source.
blockchain explorer - A blockchain explorer is an application, often a website with an accompanying API, that presents blockchain data in a user-friendly manner. While a blockchain stores information indefinitely and is readable by anyone, finding specific information may require indexing data off the blockchain and sorting it into a separate database. Blockchain explorers fulfill this essential function by providing convenient access to indexed blockchain information. Etherscan is a prominent example, offering explorers for various networks.
blockchain trilemma - The "blockchain trilemma" refers to a challenging decision involving three elements: decentralization, security, and scalability (or speed). These elements are crucial or desirable in public distributed networks. However, optimizing one aspect often compromises another. Designing a system that balances these three elements poses a significant challenge.
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