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Blockchain Terminology Overview

Term / ConceptDefinition
BlockchainA type of database technology that stores data across multiple systems in a way that ensures the data is not changeable or hackable. It's decentralized and distributed, making it highly secure and reliable.
EthereumA decentralized, open-source blockchain with smart contract functionality. It serves as a platform for numerous other cryptocurrencies and for the execution of decentralized smart contracts.
Ethereum-Compatible BlockchainA blockchain that is compatible with Ethereum and can run Ethereum smart contracts and use Ethereum tools without any modifications.
MainnetThe primary network for a blockchain project where actual transactions take place on a distributed ledger.
TestnetA test blockchain used by developers for testing purposes. It works just like the main blockchain but its currency has no value.
Chain IDA unique identifier for a blockchain network. It's used in transactions to prevent replay attacks across different networks.
Block ExplorerAn online tool to view all transactions, past and current, on the blockchain.
Decentralized Application (DApp)An application that is run by many users on a decentralized network with trustless protocols.
Ethereum WalletA user's account address on the Ethereum network, which can hold Ethereum or any number of tokens issued on the Ethereum network.
Ethereum-compatible walletA digital wallet that can store, send and receive cryptocurrency tokens on the Ethereum blockchain.
NodeA computer that participates in the blockchain network. Nodes store, spread, and preserve the blockchain data, and they also process transactions.
Node ProvidersEntities or individuals who operate nodes on a blockchain network. Nodes are vital parts of blockchain infrastructure as they store, spread, and preserve the blockchain data.
EndpointThe URL or IP address of an end node or server to access blockchain. It can be public, permissioned, or private.
Endpoint ServicesServices that provide access points into blockchain networks.
RPC EndpointsAccess points to the blockchain network where commands can be sent and data can be read.
RPC Endpoint ProvidersProviders who offer access to blockchain networks via Remote Procedure Call (RPC) interfaces, which allow applications to communicate with the blockchain.
Public Endpoint MethodA blockchain network whose endpoint is open to the public online around the world.
Permissioned Endpoint MethodA blockchain network that requires approval by members to access the network.
Private Endpoint MethodA blockchain network whose endpoint is not open to the public.
ValidatorsParticipants/entities responsible for the actual operation of the blockchain. They verify new transactions and add them to the blockchain. In the context of JOC, validators are composed of well-known Japanese companies, universities, etc.
Validator NodesNodes in a blockchain that are responsible for verifying transactions and adding new blocks to the blockchain.
Owned Node MethodA blockchain type where a single entity or individual owns all validator nodes.
Open Node MethodA blockchain network where anyone can participate in blockchain operation by connecting through their own node server.
Consortium Node MethodA blockchain network that requires approval from existing validators to become a validator.
Proof of Work (PoW)A consensus algorithm used in blockchain networks where miners solve complex mathematical problems to add new blocks into the blockchain.
Proof of Stake (PoS)Consensus algorithm where the creator of a new block is chosen through a combination of random selection and wealth (i.e., stake).
Proof of Authority Consensus Algorithm (PoA)A consensus algorithm for a blockchain network where transactions and blocks are verified by approved accounts, known as validators. While PoA (Proof of Authority) has less decentralization among validators, it offers superior scalability and speed.
ShardingA method for spreading the computational and storage load of a blockchain network over a large number of nodes.
Absolute FinalityA property of a consensus protocol where once a transaction is confirmed, it's impossible for it to be reversed.
Probabilistic FinalityA property of some consensus protocols where a transaction's finality is probabilistic, meaning it could still be reversed, but the probability of such an event decreases over time.
Side ChainA blockchain ledger that runs parallel to the main blockchain. There is a bidirectional link between the main chain and the sidechain. While the sidechain can operate independently using its own ledger, it remains connected to the main chain.
Layer 2A secondary framework or protocol built on top of an existing blockchain network.
Rollup TechnologyA Layer 2 solution that performs transaction execution off-chain and only posts transaction data on-chain, increasing the throughput of the Ethereum network. Types include Optimistic Rollup and ZkRollup.
QuorumAn Ethereum-based distributed ledger protocol that has been designed to provide industries such as finance with a permissioned implementation of Ethereum supporting transaction and contract privacy.
Cross-chain ProtocolsProtocols that enable different blockchain networks to interact and communicate with each other, enhancing interoperability.
Blockchain InteroperabilityThe ability of different blockchain networks to share information and interact with each other.
GasA measure of computational effort in Ethereum and other blockchains. It is the internal pricing for running a transaction or contract in Ethereum.
Native TokenA type of token that is native to a specific blockchain. It's often used to pay for transaction fees within the network, incentivize the validation of new blocks, or participate in the network's governance.
Governance TokensTokens that allow holders to vote on changes to a blockchain protocol's parameters.
StablecoinsA type of cryptocurrency that is designed to have a stable value as opposed to the high volatility associated with most cryptocurrencies. The value is often pegged to a specific value or reserve, such as a currency like the Japanese yen or a commodity like gold.
NFTStands for "Non-Fungible Token". It's a type of cryptocurrency which represents a unique item or piece of content, contrasting with cryptocurrencies like bitcoin where each token is the same as every other token.
Initial Exchange Offering (IEO)A type of public offering where tokens are sold directly on an exchange, rather than through the project team itself.
Cryptocurrency ExchangeA platform where users can exchange one type of digital asset for another based on the market value of the given assets.
DeFiShort for "decentralized finance". Refers to the use of blockchain, cryptocurrency, smart contracts, and other technologies to provide traditional financial services such as borrowing, lending, and trading in a decentralized manner.
Japan Open ChainAn Ethereum-compatible blockchain infrastructure designed to promote secure and safe Web3 businesses globally. It operates as an open-endpoint type of consortium blockchain with permissioned nodes.
Japan Blockchain Foundation Co., Ltd.A company established for auditing and disclosing the project's status, promoting the development of a robust ecosystem for Japan Open Chain, and serving as the project's administrator.
JOC DashboardWeb application that every user of Japan Open Chain can use. It's a portal site in which users can check balances, develop DApps, manage NFTs, and more.
G.U. WalletThe name of the Ethereum wallet provided by G.U.Technologies.