The genesis block is the first block created on a blockchain. For Bitcoin, the genesis block was mined on January 3, 2009 by its creator, Satoshi Nakamoto and contains the phrase „The times 03/Jan/2009 Chancellor on brink of second bailout for banks“, suggesting that Nakamoto was motivated by the global financial crisis.
Atomic Swap is a smart contract technology that enables the exchange of one cryptocurrency for another without using centralized intermediaries, such as exchanges.
A testnet is the Minimum Viable Product (MVP) of a blockchain project. It is built for developers to experiment with new ideas without disturbing or breaking the core features of the product. It exists primarily to gather feedback from developers and community members for the purpose of getting the community´s pulse on what the mainnet …
A mainnet is the end product of a blockchain project which is accessible by the public to use. The term is used to describe when a blockchain protocol is fully developed and deployed, meaning that cryptocurrency transactions are being broadcasted, verified, and recorded on a distributed ledger technology (blockchain).
A representative store of digital value that lives on a given blockchain or cryptocurrency network. Some blockchains have the same name for both the network and the coin, like Bitcoin. Others can have different names for each, like the Cardano blockchain, which has a native coin called ADA.
A distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. Each block contains information about transactions conducted within a given time period. They also contain a unique identifier to differentiate them from every other block in the chain. The basis for cryptocurrencies.
A block is a component of a wider blockchain. It contains a series of transactions grouped together during a specific period of time. Blocks contain permanently recorded transaction data and, once deeply embedded in the wider blockchain, cannot be removed. Blockchains are comprised of hundreds of thousands of blocks.
Ethereum is a blockchain platform with its own cryptocurrency, called Ether (ETH), and its own programming language Solidity. As a blockchain network, Ethereum is a decentralized public ledger for verifying and recording transactions. The network's users can create, publish, monetize, and use applications on the platform, and use its Ether cryptocurrency as payment. Insiders call …