Crypto Glossary

I’m going to keep a glossary here with crypto terms that I come across so that I can come back to it and make sure that I understand what I’m learning. I will add to it frequently.

Bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer.

Blocks are packages of data that carry permanently recorded data on the blockchain network.

A blockchain is a shared ledger where transactions are permanently recorded by appending blocks. The blockchain serves as a historical record of all transactions that ever occurred, from the genesis block to the latest block, hence the name blockchain.

Also known as tokens, cryptocurrencies are representations of digital assets.

A decentralized application (Dapp) is an application that is open source, operates autonomously, has its data stored on a blockchain, incentivised in the form of cryptographic tokens and operates on a protocol that shows proof of value.

Distributed Ledger
Distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. A distributed ledger does not have to have its own currency and may be permissioned and private.

Distributed Network
A type of network where processing power and data are spread over the nodes rather than having a centralised data centre.

Mining is the act of validating blockchain transactions. The necessity of validation warrants an incentive for the miners, usually in the form of coins. In this cryptocurrency boom, mining can be a lucrative business when done properly. By choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income.

Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract (scripting) functionality. It supports a modified version of Nakamoto consensus via transaction-based state transitions. Ether is a cryptocurrency whose blockchain is generated by the Ethereum platform. Ether can be transferred between accounts and used to compensate participant mining nodes for computations performed.

Ganache is a personal Ethereum blockchain used to run tests, inspect state and execute commands.

Truffle is a development environment and testing framework.

Geth is a command-line interface running a full Ethereum node in GO.

Web.js is a collection of libraries which allows you to work with a local or remote Ethereum node using a HTTP or IPC connection.

Node.js is a free open source cross-platform run-time environment for command-line tools and server-side scripts outside of the browser.

Metamask is an Etheruem Based web browser that acts as a Ethereum wallet and can run as an interface for Ethereum-based Dapps.

Tron is a blockchain-based decentralized platform that aims to build a free, global digital content entertainment system with distributed storage technology, and allows easy and cost-effective sharing of digital content. TRONs cryptocurrency token is Tronix (TRX).