This is a brief study about the most used term in Blockchain.

1. Blockchain Glossary:
Most Used Terms in Blockchain

2. INTRODUCTION:
• Having a blockchain glossary will help you understand the terminology which is used
in the blockchain environment.
• As with any developi9ng sector or sub-sector, an understanding of the keywords and
key phrases is essential.
• This helps the new individuals of the sector to understand articles or white papers
with ease and gain knowledge.
• This technology is said to be causing a revolution around the world.
• Visionary thinkers, investors, and technologists are all talking about its immense
potential and how it might trigger a real change in all kinds of ways.
• Blockchain is what structures the digital currency Bitcoin and various other
cryptocurrencies that came afterward.
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3. • Bitcoin is a digital asset and a payment system invented by an unknown person
entitled Satoshi Nakamoto, who published the invention of Bitcoin in a white paper in
2008.
• The following year, in 2009, Bitcoin was released as open-source software.
• Since then, bitcoin (and other alternative cryptocurrencies) kept flourishing and
developed further.
• One of such promising alternatives is Ethereum, a decentralized platform for
applications.
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4. • Even though it is making headlines every day, the technology in itself and how it
works is still obscure.
• In this article, we have assembled a glossary of key concepts that can help us
understand blockchain in a better way.
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5. The Most Used terms are:
• Blocks and blockchain networks: A blockchain is a type of distributed ledger that is
shared across a business network. Business transactions are permanently recorded
in sequential, append-only, tamper-evident blocks to the ledger. All the confirmed and
validated transaction blocks are hash-linked from the genesis block to the most
current block, hence the name blockchain.
• Distributed ledgers: A distributed ledger is a type of database, or system of record,
that is shared, replicated, and synchronized among the members of a network.
• Participants: A blockchain network for business is a collectively owned peer-to-peer
network that is operated by a group of identifiable and verifiable participants.
• Assets, transactions, and channels: Anything that can be owned or controlled to
produce value is an asset. Assets can be tangible (such as a car or farm-fresh
peaches) or intangible (such as a mortgage or patent). A transaction is an asset
transfer onto or off of the ledger.
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