Plain-English definitions for the terms you'll encounter on your financial journey.
A digital, distributed ledger that records transactions across many computers so that the record cannot be altered retroactively.
A service that provides external data to smart contracts, allowing them to interact with events and information outside the blockchain.
The process used by blockchain networks to agree on the validity of transactions and maintain the current state of the ledger.
An umbrella term for financial services like lending and borrowing that operate on a blockchain without a central authority.
A financial system built on blockchain technology that eliminates the need for traditional intermediaries like banks by using automated smart contracts.
An umbrella term for financial services like lending and trading that operate on blockchain technology without traditional intermediaries like banks.
A decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications.
A change in a blockchain's protocol that results in a split, creating two separate versions of the network with different rules.
The transaction fee paid to network validators to process and validate a transaction on a blockchain network.
The transaction costs paid to network validators or miners to process and confirm transactions on a blockchain network.
The very first block of a blockchain network, serving as the foundation for every block that follows.
A cryptocurrency that grants its holders the right to vote on decisions that affect the future development of a blockchain project.
A permanent split in a blockchain that occurs when a network undergoes a major protocol change, resulting in two separate paths.
The total computational power being used by a network to process transactions and secure the blockchain.
The process of converting input data into a unique string of characters to ensure data integrity and security within a blockchain.
A secondary protocol built on top of a main blockchain to increase transaction speed and reduce costs.
A unique digital identifier that is recorded on a blockchain and is used to certify ownership and authenticity of a specific digital or physical asset.
A service that provides external, real-world data to a blockchain's smart contracts so they can execute based on events happening outside the network.
The act of locking up cryptocurrency tokens to help support the security and operation of a blockchain network in exchange for rewards.
A digital tool that allows users to store, manage, and interact with their cryptocurrency assets and blockchain addresses.