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Cryptocurrencies
internet money
Bitcoin
a form of cryptocurrency
Ethereum
a public blockchain that supports smart contracts
POW
Proof of Work
POS
Proof of stake
Smart contract
an agreement or set of rules that govern a business transaction; stored on the blockchain and executed automatically as part of transaction
P2P
peer to peer; direct connection between two participants in a system
Non-Fungible
the property of an item not being exchangeable with other like items (USD and Euros are fungible)
Tokens
Crytographic tokens represent programmable assets or access rights, managed by a smart contract and un underlying distributed ledger
NFT
Non Fungible tokens
Mining
process of verifying a transaction and writing it to the blockchain for which the successful miner is rewarded in the cryptocurrency
Block
group of transactions entered into a blockchain (analogous to a page of a ledger or record book)
Byzantine Fault Tolerance (BFT)
property of a distributed, decentralized system to resist complete failure even when some of the nodes fail or act maliciously
Provenance
the entire history of a product during its lifecycle including its chain of custody and all documentation of value added services and activities which were used to product that product/service
Trustless
elimination of trust from a transaction
Distributed Ledger Technology
digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple identical copies at the same time with no central data store or administration
Hash Function
A function that receives an input of any size and returns a unique string of a uniform length
Hyperledger
IBM’s private (permissioned) blockchain toolset
Genesis block
first block in the blockchain
Dapp
decentralized apps are apps made for blockchain system and are open source
