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. 

P2P (Peer-to-Peer) - P2P refers to direct interactions between two parties, often individuals, without the need for an intermediary. These interactions are facilitated through apps or networks involving multiple individuals. Public blockchains exhibit significant P2P functionality, enabling individuals to transact and interact with each other without relying on a central authority or single point of failure.
parity - In the realm of software development and computer science, "parity" signifies equality in features or other essential qualities. This term is commonly used in these fields.
Parity Technologies - Parity Technologies is a blockchain technology company engaged in developing several significant projects in the blockchain space. One of its initial projects was an Ethereum client called Parity, which later became Parity Ethereum. It was subsequently spun out as an open-source project named Open Ethereum, operated and owned by a DAO (Decentralized Autonomous Organization). See also "client."
Peer-to-Peer (P2P) - A decentralized network where participants interact directly with each other without intermediaries.
permissioned ledger - A permissioned ledger is a blockchain network where access to the ledger or network requires permission from specific individuals or a group. It differs from a public blockchain as it may have one or multiple owners. Consensus on a permissioned ledger is reached by trusted entities such as government departments, banks, or known entities. Permissioned ledgers maintain highly verifiable data sets due to the consensus process generating a digital signature visible to all parties involved. They are easier to maintain and faster than public blockchains. Examples of permissioned ledgers include Quorum and Hyperledger Besu, which are well-suited for large enterprises. In contrast, the public Ethereum blockchain is a permissionless ledger accessible to anyone.
Plasma - Plasma refers to a scaling solution being developed and deployed to enhance the security and scalability of the Ethereum network. Plasma networks function similarly to optimistic rollups, relying on Ethereum Mainnet for transaction records and arbitration or fraud resolution. However, Plasma networks differ from rollups in technical aspects and currently support basic operations like token transfers and swaps. Further technical details are available for reference.
PoA, PoS, PoW - These acronyms stand for Proof of Authority, Proof of Stake, and Proof of Work, respectively. The "o" is lowercase since it represents the word "of." These are different consensus mechanisms utilized in blockchain networks. See also "consensus," "Proof of Authority," "Proof of Stake," "Proof of Work."
PoS/PoW Hybrid - A hybrid consensus model that combines Proof of Stake (PoS) and Proof of Work (PoW) mechanisms. This hybrid approach involves validators (stakeholders) and miners validating blocks, ensuring a balanced network governance.
private blockchain - A private blockchain or distributed ledger operates within a closed network where participants are controlled by a single entity. Joining the network requires a verification process for new participants, and consensus on the blockchain network may be limited to specific individuals. See also "permissioned ledger."
private currency - A private currency refers to a currency or token issued by an individual or private entity. Typically, such tokens or currencies are restricted for use within the network or ecosystem of that specific entity. It should not be confused with "privacy cryptocurrencies," which are cryptocurrencies incorporating privacy features like concealed user identities.
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