Blockchain Terms

  1. Blockchain: The structure and technology of information storage and processing that can be trusted based on cryptography.

  1. Byzantine Failure: Refers to errors in the system other than message delays or non-delivery failures, including messages that have been tampered, and nodes operatednot followingthe protocol, potentially causing targeted damage to the system.


  1. Consensus: In a distributed system, multiple parties agree on a piece of information. In most cases, agreement is reached on the sequence of events.


  1. Decentralization: There is no need for an independent third-party central organization to exist, sometimes it’s also called multi-centered.


  1. Distributed (Distributed): The implementation of a non-monolithic central nodeisusually combined by multiple individuals through some form of organization, to present a unified form of service to the external world.


  1. Distributed Ledger Technology: A technology that implements distributed ledgers, including blockchain and rights management.


  1. Mean Time Between Failures: The expected time that the system can operate without failure.


  1. Multi-Version Concurrency Control: The technology in the database field, which implements optimistic processing of concurrent update requests by introducing versions, and rejects updates when the database version is inconsistent with the version indicated in the request when the update is processed. If the update is successful, the version of the data is incremented.


  1. Peer-to-peer communication network (P2P): All nodes in the network are in equal status. There is no centralized control mechanism.


  1. Validating Peer: the core peer that maintains the ledger and participates in consistency maintenance, verification and execution of transactions. It can be further divided into various roles such as Endorser and Committer.

  1. Proof of Stake: The greater the number of users with credit records or equity, the greater the probability of obtaining the right to record credit records.


  1. Mining: Attempts to find a string through brute calculation, so that after adding a group of credit information, the hash value meets certain rules (for example, the prefix includes several 0s). Theperson who finds it can choose to discover a new blockand get relevant credit rewards from system rewards.


  1. Anchor: Generally refers to as the initial contact element or communication element with other structures. For example, a node that has just joined a channelneedsto quickly obtain the information within the channel (such as the existence information of other nodes) through an anchor node.


  1. Smart Contract: A computerized trading agreement that can enforce contract terms.

  1. Committer: A peer node role that checks Orderer’s sorted credit information, selects legitimate credit exchange information and writes it to memory.


  1. Commitment: The process of submitting node to complete the verification of the sorted credit informationandwriting the credit content to the block, and updating the World State.


  1. Confidentiality: Only transaction-related parties can see the content of the transaction, and others cannot see it without authorization.


  1. Decentralized Autonomous Organization: A loosely-owned autonomous group linked by smart contractsbased on blockchains.

  1. Proof of Work: Solve a SHA256 Hash problem with certain calculation difficulty.


  1. Chaincode: The application code on the blockchain, extended from the concept of “smart contract”, supportingmultiple languages, and is mostly Turing complete.


  1. Blockchain as a Service: An encapsulated solution for providing blockchain services to enterprises.


  1. Genesis block: The first block on the Bitcoin blockchain system was called the Genesis block, which was created by SatoshiNakamoto.


  1. Decentralized Autonomous Architecture (DAO): The concept that has become popular with the popularity of digital cryptocurrency and blockchain technology. DAO first appeared in the United States: Ori Brafman published “Starfish and Spiders” in 2007. Ori’s concept of decentralized organization refers more to how human organizations collaborate with each other.


  1. Merkle Tree: The Merkle Tree is a binary tree consisting of a set of leaf nodes, a set of intermediate nodes, and a root node.


  1. Computing Power: wecan onlyuse computer random Hash collision to find out a certain new credit value that matches Hash. The times of Hash collisions a miner can make per second is called Computing Power.


  1. KYC (Know Your Customer): User authentication.


  1. Distributed Database: Usingcomputernetworks to connect physically dispersed multiple database units to form a logical unified database.
  2. Hash/s: Abbreviation H/s, computing performance parameter, that is, the number of hash that can be processed per second, 100MH/s means handling 100 million times of Hash in one second.



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