Glossary Terms

Think of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It’s a chain of transaction blocks linked chronologically.

The blockchain ledgerThe blockchain ledger represents the beating heart of these groundbreaking networks. It constitutes an ever-expanding database registering all transactions transparently across the system. represents the beating heart of these groundbreaking networks. It constitutes an ever-expanding database registering all transactions transparently across the system.

The “dark web” refers to parts of the internet only accessible through encryption software like Tor. The dark webThe "dark web" refers to parts of the internet only accessible through encryption software like Tor. The dark web provides high anonymity for users since... provides high anonymity for users since it operates on encrypted networks.

With normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the shots, a decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... cryptocurrency network spread out control across many participants around the world. This is called a decentralizedWith normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the... system.

EtherEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH. (ETHEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.) is used to pay for computation and token swaps on EthereumEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH.. Users “fuel” smart contractsA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... and DApps with ETHEther (ETH) is used to pay for computation and token swaps on Ethereum. Users "fuel" smart contracts and DApps with ETH..

Peer-to-Peer NetworksPeer-to-Peer Networks (P2P) networks allow people to connect with each other directly for sharing things - without going through a middleman. (P2PPeer-to-Peer Networks (P2P) networks allow people to connect with each other directly for sharing things - without going through a middleman.) networks allow people to connect with each other directly for sharing things – without going through a middleman.

A smart contractA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... is code that runs automatically when certain conditions are met. Kind of like “if-then” programming. If X happens, then the smart contractA smart contract is code that runs automatically when certain conditions are met. Kind of like "if-then" programming. If X happens, then the smart contract... executes Y.

Virtual currencyVirtual currency is basically any digital money that people can use for transactions, usually just within a specific app or community online. Some common examples... is basically any digital money that people can use for transactions, usually just within a specific app or community online. Some common examples are in-game currencies, like V-Bucks in Fortnite or gems in Clash of Clans. These are controlled by the game developers.