NFT Domains

A Testnet is a trial blockchain network used for testing new applications and features, offering a risk-free environment for development.

Mining difficulty reflects the complexity of the cryptographic problems that must be solved to mine a block in networks like Bitcoin.

Layer 2 protocols operate on top of an existing blockchain to enhance network scalability and efficiency, improving transaction speeds.

A UTXO is the residual, spendable amount of crypto-assets resulting from a transaction, used by blockchains such as Bitcoin.

In the Ethereum blockchain, the Account Model represents user accounts with associated wallet addresses, forming the decentralised ledger.

Royalties are payments made to the creators of NFTs for each subsequent sale, providing ongoing compensation.

A Multisig (Multi-signature) wallet requires multiple private keys to authorize cryptocurrency transactions, enhancing security.

A Custodial wallet is a cryptocurrency wallet where third parties maintain custody of the owner's private keys.

A Seed Phrase is a series of 12 or 24 words used to recover access to a cryptocurrency wallet, acting as a backup tool.

A non-custodial wallet is a cryptocurrency wallet where the owner maintains complete control over their private keys.

Fan Tokens are specialised utility tokens that enable sports teams to engage and interact with their fan base.

Minting is the process of creating new tokens or NFTs and permanently recording them on a blockchain through smart contracts.

The metaverse is a set of shared, three-dimensional virtual environments in which users interact through avatars and digital objects.

Delegated Proof-of-Stake is a system where stakeholders transfer their staking power to trusted validators who maintain the network.

Pure Proof-of-Stake is a consensus model where validators are selected randomly and anonymously, using Verifiable Random Functions (VRF).

Liquid Proof-of-Stake is a variant of Proof-of-Stake where staked tokens remain liquid and readily accessible for transactions.

The Stake represents the total cryptocurrency users are currently staking within a blockchain network to gain rewards.

A staking pool is a set of crypto-assets staked by several participants in order to validate blocks and share the resulting rewards.

Cold staking allows you to participate in staking while keeping crypto-assets offline rather than connected online.

Blockchain technology, based on cryptography, enables the decentralized and uncensored execution of transactions across various sectors.

Proof-of-Stake is a consensus mechanism in which the validation of blocks is based on the crypto-assets put into staking.

The Genesis Block, often called Block 0, is the inaugural block of a blockchain, serving as the foundation of the entire chain.

Block Height refers to the total number of blocks in a blockchain, counted from the genesis block to the most recent block.

The Network in blockchain refers to the interconnected system of computers, or nodes, supporting the operations of a cryptocurrency.

Transactions per second (TPS) measures the processing speed of a blockchain network, indicating its efficiency and scalability.

A Transaction is a formal agreement involving the exchange of assets, value, or data between digital or physical entities.

In blockchain, Shard refers to a network subdivision that enhances transaction processing efficiency and overall network scalability.

Proof-of-work is a blockchain consensus mechanism relying on miners' computational power to validate transactions and create blocks.

A Node refers to a computer connected to a blockchain network, playing a crucial role in processing and validating transactions.

Off-chain transactions refer to activities conducted outside the blockchain, enhancing speed and reducing congestion.

On-chain activities are those executed and recorded on the blockchain, ensuring transparency and permanence of the data.

A Mining Pool is a collective that combines multiple miners' computational power to enhance cryptocurrency mining efficiency.

Mining involves solving complex cryptographic challenges to create new blocks on a blockchain, earning cryptocurrency rewards.

A Consensus Mechanism is a decentralised method for validating transactions on a blockchain, crucial for maintaining network integrity.

A Hash is a cryptographic function uniquely identifying each blockchain block, ensuring data integrity and security.

Governance is the set of rules and processes by which decisions are taken within a project or a protocol and its community.

A Fee is a charge incurred for executing financial transactions, often seen in trading, banking, and service provisions.

Double Spending is a risk in digital payment systems, where the same amount might be fraudulently spent twice without proper safeguards.

A Denial of Service (DoS) is a cyber attack aimed at making a network or service unavailable, disrupting normal operations.

Distributed Ledger Technologies (DLT) are based on a decentralised and immutable ledger of transactions, shared across a network.

Decentralised describes a system that operates without a central authority, distributing control among multiple participants.

A cold wallet is a wallet for crypto-assets that keeps the keys offline, without an internet connection, reducing online exposure.

A Bridge in blockchain technology enables the transfer and interaction of assets across diverse blockchain platforms.

A Financial Bubble is an economic cycle characterised by the rapid escalation of asset prices beyond their intrinsic values.

Blockchain Explorer is a software tool that enables users to view all transactions and exchanged data on a specific blockchain.

A Block is a collection of encrypted transactions, which, linked with other blocks, forms the entire structure of a blockchain.

An ASIC is an integrated circuit designed to perform a single, specific function, such as mining certain crypto-assets.

Interoperability in blockchain refers to exchanging data with other platforms, including different blockchain types and off-chain systems.

A 51% Attack occurs when a node or group of nodes tries to gain majority control over a blockchain network, threatening its integrity.