A
Account
An account represents an entry in the blockchain ledger, indexed by its unique address, which contains complete data about the account's state. In monetary systems, an account typically holds balances and pending transactions. Other systems may store more complex relationships.
Key Features:
- Serves as the gateway to blockchain records.
- Address-derived (e.g.,
cd2a3d9f938e13cd…). - Balances and transaction histories are publicly visible, but identities remain pseudonymous.
Account Nonce
A cryptographic number used once per transaction to prevent replay attacks. For example, if User A sends ETH to User B, the nonce ensures B cannot repeatedly resubmit the same transaction to drain A’s funds.
Address
A hashed version of a user’s public key, serving as their blockchain identifier. Example format: 0xcd2a3d9f938e13cd947ec05abc7fe734df8dd826.
Assert
In Solidity, assert(false) compiles to an invalid opcode (0xfe), halting execution and reverting changes. Used to catch critical errors during development.
👉 Master Solidity debugging techniques
Application Programming Interface (API)
A set of protocols and tools for building software applications, enabling seamless integration with blockchain data.
Altcoin
Alternative cryptocurrencies (e.g., Litecoin, Dogecoin) built on blockchain technology but with distinct algorithms or features.
Did You Know? The term combines "alternative" and "coin."
Airdrop
Distribution of free tokens to a wide audience to boost adoption. Often used for marketing or decentralized governance.
ASIC (Application-Specific Integrated Circuit)
Hardware optimized for mining specific cryptocurrencies. Ethereum’s shift to Proof-of-Stake (PoS) reduced ASIC reliance.
FAQ
Q: What’s the difference between an account and a wallet?
A: An account is your blockchain identity (address + keys), while a wallet is software managing multiple accounts.
Q: Why are nonces important?
A: They prevent transaction duplication and ensure sequential processing.
B
Bytecode
Low-level, machine-readable code executed by the Ethereum Virtual Machine (EVM). Contrasted with human-readable Solidity.
Byzantium Fork
Ethereum’s first Metropolis hard fork (2017), implementing:
- EIP-649: Reduced block rewards from 5 ETH to 3.
- Delayed the "Difficulty Bomb" by 1 year.
Blockchain
A tamper-proof, decentralized ledger recording all transactions. Key traits:
- Transparency: Publicly verifiable data.
- Immutability: Historical blocks cannot be altered.
👉 Explore blockchain use cases
C
Cryptocurrency
Digital assets (e.g., ETH, BTC) secured by cryptography, enabling peer-to-peer transactions without central authorities.
Smart Contract
Self-executing code stored on-chain. Once deployed, contracts operate autonomously unless programmed with upgradeability.
Example: DAOs (Decentralized Autonomous Organizations).
Consensus
Agreement among network nodes on blockchain validity. Ethereum uses PoS (via Casper) for energy efficiency.
D
DAO (Decentralized Autonomous Organization)
Member-governed entities operating via smart contracts. Notable example: "The DAO" 2016 hack leading to Ethereum’s split.
Double Spend
Attempting to spend the same ETH twice. Prevented by blockchain’s chronological ordering and consensus rules.
E
Ethereum
A decentralized platform for building dApps and executing smart contracts using ETH.
Ether (ETH)
Ethereum’s native currency, used for:
- Paying transaction fees (
gas). - Staking in PoS.
ERC (Ethereum Request for Comments)
Standards like ERC-20 (fungible tokens) and ERC-721 (NFTs) ensure interoperability across projects.
F
Fork
Blockchain splits (e.g., Ethereum → Ethereum Classic) due to protocol upgrades or disagreements.
Gas
Measurement of computational effort. Users set:
- Gas Limit: Max units allocated.
- Gas Price: Fee per unit (denominated in GWei).
G
Genesis Block
The first block in a blockchain, foundational to all subsequent data.
Gas Limit
Maximum gas a user pays per transaction. Exceeding this limit cancels execution but still consumes fees.
FAQ
Q: How do I secure my ETH?
A: Use hardware wallets for cold storage and enable 2FA on exchanges.
Q: What’s ETH’s inflation rate post-Merge?
A: Near zero, as PoS replaced miner rewards with staking yields.
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