Category: Cryptopedia

Token standards are technical specifications that define the rules and behaviors for creating and managing tokens on a blockchain. These standards ensure compatibility and interoperability between tokens and other smart contracts or systems. In blockchain ecosystems, especially in Ethereum, various token standards have been developed to address different use...

In the context of blockchain and accounting, the term “ledger” refers to a record-keeping system used to track transactions and account balances. While the concept of a ledger historically resembles a physical book used in traditional accounting, in modern contexts, it usually refers to a digital or electronic system....

Decentralized Applications (DApps) are applications that run on a decentralized network, typically a blockchain, rather than on centralized servers. They leverage blockchain technology to offer various benefits, including enhanced security, transparency, and resistance to censorship. Here’s a comprehensive overview of DApps: Key Characteristics of DApps Examples of DApps How...

Network protocols are fundamental in the operation of blockchain networks, ensuring that data is transmitted, received, and processed correctly among nodes. These protocols define the rules and standards for communication between nodes, data formatting, and network interactions. Here’s a detailed overview of network protocols and their role in blockchain...

Consensus rules are a set of protocols and guidelines that determine how nodes in a blockchain network agree on the state of the ledger and validate transactions. These rules are crucial for maintaining the integrity, security, and consistency of the blockchain. Here’s a detailed look at consensus rules: Overview...

In a blockchain system, public keys are used to receive assets, while private keys are used to sign transactions and prove ownership. They work together in asymmetric cryptography to secure transactions and access blockchain data. Example of a Public Key A public key is a cryptographic key that is...

These are mathematical algorithms that take input data (such as a block’s contents) and produce a fixed-size string of characters, which appears random. Hash functions ensure data integrity and security by making it virtually impossible to alter the data without changing the hash. Key Properties of Cryptographic Hash Functions...

Smart Contracts: These are self-executing contracts with the terms of the agreement directly written into code. They automatically enforce and execute the terms of the contract when predefined conditions are met. Key Characteristics How They Work Use Cases Benefits Challenges In summary, smart contracts are a powerful tool for...

Transactions: Transactions are the data entries recorded in the blockchain. They typically represent the transfer of assets or information between participants and are the fundamental units of value or action in the blockchain. Consensus Mechanism: This is a protocol used to achieve agreement among nodes on the state of...

Definition: Function: Structure: Role in Blockchain:...