One among the top booming technology emerging all over the world. Here are few abbreviations of BLOCKCHAIN, that everyone must know.

Block

Blockchain is used to strore the transaction along with their hash value & data.

Transaction

Any state change occured in a blockchain.

Smart Conntract

Self executing contract with terms & conditions written in lines of codes.

Ledger

Blockchain Ledger used to record the transaction in a blockchain.

Token

Digital Asset

Crypto Currency

Digital Asset

Bitcoin

Most popular Cryptocurrency

Hash

The encrypted value of the data in the block.

SHA256

Hashing Algorithm

Node

Each computer connected to the blockchain network.

Solidity

Programming language for writing smart contracts in ethereum.

Hyperledger

Blockchain platform.

Ethereum

Blockchain platform.

Baas

Blockchain as a service.

ERC20

Ethereum token standard.

ICO

Initial coin offering.

DApp

Decentralized applications

IoT

Internet of things

PoW

Proof of work

PoS

Proof of stake

Mining

The validation process in the blockchain (in bitcoin & ethereum)

Miner

The nodes which perform mining.

Wallets

Digital wallet to store, send and receive cryptocurrencies and other digital assets.

Testnet

Test blockchain networks for development and testing purpose.

BFT

Byzantine fault tolerance principle.

BIP

Bitcoin improvement proposal

Genesis block

First block in the blockchain.

Composer

blockchain development framework in hyperledger fabric.

Participants

Those who have an account in the blockchain and performing any transactions.

Peer2Peer(P2P)

Decentralized network architecture. There is no dedicated server in this case.

Consensus

General agreement between the participants in the blockchain.

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