100 Blockchain Terms and Full Forms by Sandeep Kumar Singh
Term | Full Form | Explanation |
1. Blockchain | - | A distributed ledger technology that records transactions in a secure, transparent, and decentralized manner across multiple computers. |
2. DLT | Distributed Ledger Technology | A decentralized system for recording transactions where the information is stored across a distributed network. |
3. Cryptocurrency | - | A digital or virtual currency that uses cryptography for security and operates on blockchain technology. |
4. Bitcoin (BTC) | - | The first and most widely recognized cryptocurrency, created by Satoshi Nakamoto in 2008. |
5. Ethereum (ETH) | - | A decentralized platform enabling the creation of smart contracts and decentralized applications (DApps). |
6. Smart Contract | - | Self-executing contracts with the terms of the agreement written in code, automatically enforced on the blockchain. |
7. Altcoin | - | Any cryptocurrency other than Bitcoin, such as Ethereum, Litecoin, or Ripple. |
8. Mining | - | The process of validating transactions and adding them to the blockchain by solving complex computational puzzles. |
9. PoW | Proof of Work | A consensus mechanism where miners solve complex puzzles to validate transactions and create new blocks. |
10. PoS | Proof of Stake | A consensus mechanism where validators are chosen based on the number of coins they hold and are willing to "stake" as collateral. |
11. Node | - | Any device connected to a blockchain network that helps to validate and relay transactions. |
12. Ledger | - | A record of all transactions made on a blockchain, maintained by every node in the network. |
13. Decentralization | - | A system where control and decision-making are distributed across a network, rather than being centralized in one location or entity. |
14. Consensus | - | Agreement among the majority of participants in a blockchain network on the validity of transactions. |
15. Hash | - | A cryptographic function that converts input data into a fixed-length string of characters, used to secure blockchain data. |
16. Block | - | A group of transactions bundled together and added to the blockchain, each block containing a hash of the previous block. |
17. Public Key | - | A cryptographic key that is publicly available and used to encrypt data or verify signatures. |
18. Private Key | - | A cryptographic key known only to the owner, used to decrypt data or create digital signatures. |
19. Wallet | - | A software application or hardware device that stores public and private keys and interacts with blockchain networks to send or receive crypto. |
20. ICO | Initial Coin Offering | A fundraising method where new projects sell their underlying cryptocurrency tokens in exchange for capital. |
21. Token | - | A digital asset that can represent ownership of assets or access to services within a blockchain ecosystem. |
22. Stablecoin | - | A type of cryptocurrency that is pegged to a stable asset like the U.S. dollar to reduce volatility. |
23. Fork | - | A change to the protocol of a blockchain, resulting in a split into two separate versions. |
24. Hard Fork | - | A permanent divergence in the blockchain that results in two separate chains, often creating a new cryptocurrency. |
25. Soft Fork | - | A backward-compatible update to the blockchain that doesn’t result in a split, but enforces new rules going forward. |
26. Atomic Swap | - | A smart contract technology enabling the exchange of one cryptocurrency for another without the need for a trusted third party. |
27. DAO | Decentralized Autonomous Organization | An organization represented by rules encoded as a computer program, transparent and controlled by organization members rather than a central body. |
28. dApp | Decentralized Application | An application that runs on a decentralized network, typically using smart contracts on a blockchain. |
29. Gas | - | A unit used in Ethereum to measure the amount of computational effort required to perform transactions or execute smart contracts. |
30. TPS | Transactions Per Second | A metric that measures how many transactions a blockchain network can process per second. |
31. 51% Attack | - | An attack on a blockchain where a single entity gains control of more than 50% of the network’s mining power, potentially leading to double-spending. |
32. Halving | - | A programmed event in Bitcoin where the reward for mining a block is halved, which occurs roughly every four years. |
33. Merkle Tree | - | A data structure used in blockchain that allows for efficient and secure verification of transactions. |
34. Lightning Network | - | A second-layer technology for Bitcoin that enables faster and cheaper transactions by creating off-chain transaction channels. |
35. Shard | - | A horizontal partition of a database or blockchain that helps scale the network by splitting data across multiple chains. |
36. Validator | - | A participant in a proof-of-stake blockchain responsible for verifying transactions and securing the network. |
37. ERC-20 | - | A technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. |
38. ERC-721 | - | A technical standard for non-fungible tokens (NFTs) on Ethereum, representing unique assets. |
39. NFT | Non-Fungible Token | A type of digital asset that represents ownership or proof of authenticity of a unique item, often used in art and collectibles. |
40. Fiat Currency | - | Traditional currency that is issued by a government and is not backed by a physical commodity like gold. |
41. DEX | Decentralized Exchange | A peer-to-peer marketplace where transactions occur directly between crypto traders without intermediaries. |
42. KYC | Know Your Customer | A process by which exchanges and other platforms verify the identity of their users to prevent fraud and ensure compliance with regulations. |
43. AML | Anti-Money Laundering | A set of laws, regulations, and procedures aimed at preventing criminals from disguising illegally obtained funds as legitimate income. |
44. Cold Wallet | - | A type of cryptocurrency wallet that is kept offline to provide enhanced security against hacking. |
45. Hot Wallet | - | A cryptocurrency wallet that is connected to the internet, providing quick access but with more vulnerability to hacking. |
46. AirDrop | - | A marketing tactic used by blockchain projects to distribute free tokens or coins to community members. |
47. Oracles | - | Third-party services that provide smart contracts with external data, enabling the contracts to respond to real-world events. |
48. Whale | - | A term used to describe an individual or organization that holds a large amount of cryptocurrency, which can influence market prices. |
49. HODL | Hold On for Dear Life | A slang term for holding onto cryptocurrency rather than selling, typically during times of market volatility. |
50. Fiat-to-Crypto | - | The process of exchanging traditional fiat currency for cryptocurrency. |
51. Crypto-to-Crypto | - | The process of exchanging one cryptocurrency for another. |
52. Liquidity | - | The ability to buy or sell an asset quickly without affecting its price, important in trading. |
53. Stablecoin | - | Cryptocurrencies that are pegged to the value of traditional assets like fiat currencies to reduce volatility. |
54. Block Height | - | The number of blocks in the blockchain preceding a specific block. |
55. Public Ledger | - | A record of all transactions on a blockchain, accessible to all participants in the network. |
56. Genesis Block | - | The first block in a blockchain. |
57. Block Reward | - | The reward given to a miner for successfully mining a block, typically consisting of cryptocurrency. |
58. Burning | - | The process of permanently removing a cryptocurrency token from circulation, usually to reduce supply. |
60. Satoshi | - | The smallest unit of Bitcoin, equal to 0.00000001 BTC, named after Bitcoin’s creator, Satoshi Nakamoto. |
61. SHA-256 | Secure Hash Algorithm 256-bit | A cryptographic hash function used in Bitcoin mining to secure transactions. |
62. Difficulty | - | A measure of how hard it is to mine a new block on a blockchain, adjusting based on the network's computational power. |
63. TPS | Transactions Per Second | A metric indicating how many transactions a blockchain can process in one second. |
64. Gas Limit | - | The maximum amount of gas that a user is willing to spend on a transaction or contract execution on Ethereum. |
65. Gas Price | - | The price per unit of gas a user is willing to pay to execute a transaction on Ethereum. |
66. Gwei | - | A denomination of Ethereum, equivalent to one billionth of an Ether (ETH). |
67. Wrapped Bitcoin (WBTC) | - | A tokenized version of Bitcoin that exists on the Ethereum blockchain, allowing Bitcoin to be used within Ethereum's DeFi ecosystem. |
68. DeFi | Decentralized Finance | A movement that uses blockchain technology to recreate traditional financial systems without intermediaries, such as lending, borrowing, and trading. |
69. Yield Farming | - | A DeFi practice where users lend or stake their crypto assets to earn returns in the form of additional cryptocurrency. |
70. Liquidity Pool | - | A pool of tokens locked in a smart contract to provide liquidity for decentralized exchanges (DEXs) and DeFi protocols. |
71. Staking | - | The process of participating in a proof-of-stake (PoS) blockchain by locking up tokens to help secure the network and earn rewards. |
72. Cross-Chain | - | A technology that enables the transfer of assets and information between different blockchain networks. |
73. Metamask | - | A popular cryptocurrency wallet and gateway to blockchain applications, particularly for Ethereum and DeFi. |
74. Privacy Coin | - | A type of cryptocurrency that focuses on privacy and anonymity for users, such as Monero (XMR) and Zcash (ZEC). |
75. Sharding | - | A method of splitting a blockchain into smaller pieces called shards to improve scalability by processing transactions in parallel. |
76. Sidechain | - | A separate blockchain that runs in parallel to the main chain, allowing for more flexibility and experimentation without disrupting the main network. |
77. Immutable | - | A characteristic of blockchain where data, once recorded, cannot be altered or deleted. |
78. DAG | Directed Acyclic Graph | An alternative to blockchain that structures data as a graph, improving scalability for certain applications like IOTA. |
79. Atomic Swap | - | A technology that allows the direct exchange of cryptocurrencies between two parties without the need for intermediaries. |
80. Cold Storage | - | A method of storing cryptocurrency offline to protect it from hacking or unauthorized access. |
81. Mainnet | - | The main blockchain network where actual transactions are processed, as opposed to a testnet. |
82. Testnet | - | A version of the blockchain used by developers to test new features without affecting the mainnet. |
83. Merkle Root | - | The root of a Merkle Tree, a structure that summarizes all transactions in a block, ensuring data integrity. |
84. Consensus Algorithm | - | The method used by blockchain networks to agree on the validity of transactions, such as PoW or PoS. |
85. Hashrate | - | A measure of the computational power being used to mine and secure a blockchain network. |
86. Node | - | A participant in a blockchain network that stores and validates a copy of the distributed ledger. |
87. Public Blockchain | - | A blockchain that anyone can join, read, and participate in, like Bitcoin and Ethereum. |
88. Private Blockchain | - | A blockchain with restricted access, typically used by enterprises for specific use cases where permission is required to participate. |
89. Hybrid Blockchain | - | A combination of public and private blockchain features, allowing some data to be public and other parts to be private. |
90. Off-Chain | - | Transactions that occur outside of the blockchain network, often used to reduce congestion and fees on the main chain. |
91. On-Chain | - | Transactions that are recorded directly on the blockchain, visible and immutable. |
92. Cryptographic Hash | - | A function that takes an input and returns a fixed-size string of characters, which appears random. It ensures the integrity of data on a blockchain. |
93. Sybil Attack | - | A type of attack where a single entity creates multiple identities to gain influence over the network. |
94. Turing Complete | - | A system that can run any computation, given enough resources, a feature of Ethereum smart contracts. |
95. Dusting Attack | - | A type of attack where attackers send tiny amounts of cryptocurrency to wallets to break the user's anonymity. |
96. Multi-Sig Wallet | Multi-Signature Wallet | A wallet that requires multiple private keys to authorize a transaction, increasing security. |
97. Fungibility | - | The property of an asset where individual units are interchangeable, like Bitcoin, unlike NFTs which are non-fungible. |
98. Double Spend | - | A scenario where the same cryptocurrency token is spent more than once, prevented by blockchain's consensus mechanisms. |
99. Rollups | - | A Layer 2 scaling solution that batches multiple transactions into a single transaction, reducing the load on the main blockchain. |
100. Hyperledger | - | An open-source blockchain project by the Linux Foundation, primarily for developing private and permissioned blockchain networks. |
100 Blockchain Terms and Full Forms by Sandeep Kumar Singh
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