Explaining blockchain terms, which are technical terms that sometimes make understanding the blockchain, what it is, and its vision complex and difficult, and puts the reader in a long way to understand the blockchain, what the blockchain is, and how the blockchain works. This is why on the Crypto Arab site, the first Arab site that provides educational, informational, and news content about cryptoeconomy, blockchain, encrypted digital currency, alternative cryptocurrencies and bitcoin. We offer you the definitions that you will encounter in all the articles while reading or hearing about blockchain. We collected almost all the terms and definitions for you and explained them to you in Arabic, it will facilitate your readings and help you to have a good understanding of blockchain technology.
Explanation of blockchain terminology :
Bitcoin :
Centralized (digital money), or the first digital currency in the cryptocurrency and blockchain system, was released in 2009 by an anonymous developer using the pseudonym Satoshi Nakamoto, the value of Bitcoin as of writing this article is $ 4000.
Blockchain :
Blockchain is a technology for storing and transmitting information at the lowest possible cost, safe and transparent, and operates without central oversight. The blockchain literally means (“a chain of blocks”) all the data bases in any blockchain are distributed, and in each distribution a base is similar to the other, and every valid change that is documented by peers in the network applies automatically to all other banned rules. This data (shared decentralized between different users) ) It contains a set of transactions, each of which can be verified through mathematical equations that the blockchain has been programmed for that purpose, and its programming cannot be changed after the data is published in the network of documenters or miners in the network.
Private key :
The private key means allowing the blockchain user to initiate the transaction by encrypting the message.
Public Key :
The user key that we can transfer is the address of your blockchain wallet. Everyone can know, it allows the sender to set the receiver.
COLORED COINS :
Colorful Coins is an advanced application of the Bitcoin blockchain. It is considered the Bitcoin 2.0 protocol, and it also expands the use of the Bitcoin blockchain. Colorful coins are symbols that have been placed as a sign to represent assets in the real world. They can be used to prove ownership of cars, real estate, precious metals, etc., and are very easy to issue.
Cryptocurrencies :
Electronic money is money, now we evaluate its value in dollars or euros ... However, it is a physically intangible currency, it is a value that we see only numbers, based on the principles of encryption, which is in order to pay to verify the correctness of transactions and generate the value of the currency itself.
DAO or Decentralized Autonomous Organization :
The program that includes the blockchain organization. It contains many smart contracts that interact with each other. We could say an enlarged blockchain inside a mini blockchain, and so on
Ethereum :
The decentralized platform, based on the blockchain, allows a network of users to create smart contracts. The Ethereum blockchain, whose currency is ETH, is the currency that fulfills all conditions and executes them in the smart contract on the Ethereum blockchain. Unlike the Bitcoin blockchain, which is focused on the monetary side, the Ethereum blockchain is destined to host very diverse programs, which go far beyond the monetary framework.
FIAT MONEY :
“The classic currency, which is the central currency managed by governments and banks, which is given the value of law or government regulation (such as the euro and the dollar…)
Microtransaction :
A few cents. In the “traditional” circuit, via the bank, for example, small transfers are too expensive to perform (costs are actually higher than the amount of transactions). Blockchain brings a solution to this problem. And it allows the transfer of the least amount of money. For example, in the cross-bank, you are sometimes not allowed to transfer less than 10 dollars, while on the blockchain you can transfer up to 0.0001 dollars ....
Mining :
It is the use of computer power to process transactions, secure the network and allow all system users to remain in sync. And it has efficiency, for example Bitcoin, for its fame, has become required to mine huge computers and gigantic, to participate in the mining process, and the mining process in the more accurate sense is the process of engaging in the blockchain network to contribute to documenting transactions on your computer, so that you are rewarded for using your computer's power in the currency listed in the participating blockchain. .
Miner or binder :
People (individuals or companies) who connect their devices to a blockchain network even if one or more computers are being prepared for mining. Each metal is paid in proportion to the computing power it provides to the network.
Multisignature signature :
It is a method of securing a wallet that requires multiple key signatures to open funds.
The Noeud node :
A computer connected to the network using a transaction transfer program.
ORACLE :
The service of taking data from one or more sources (private or public database, social networks ...) and "injecting" it into smart contracts to trigger payment. Example: oracleys.
Proof of stake :
A method used for achieving consensus distributed in a blockchain network. Unlike Proof of Action, Proof of Share does not require users to use computing power, instead proving ownership of a certain value of the cryptocurrency.
Proof of work :
"Proof of Work" or "Proof of Account." It is for processing cryptocurrency transfers that allows verification of transaction blocks. Calculation time required to perform this processing, in general, only one computer in the network can access it in about ten minutes. Difficulty is regularly adapted to maintain this period.
