Blockchain Glossary.

Non-techie-friendly definitions of popular blockchain phrases and words to help you speak the speak, or at least know what the kids are talking about. Super popular phrases based on google search ranking are larger in list.

A crypto address is a string of letters and numbers that represents blockchain public/private key pair. You can think of them like a website for a blockchain wallet. Generally you don't want people to know your blockchain public key, absolutely not your private key since your public and private keys don't change. Most blochain wallet programs uses your public key to generate a random address that you give out to receive crypto assets. The randomness helps protect your identity since everything on the blockchain is publicly viewable.
An event where you are able to receive free tokens or coins.
Since Bitcoin was the first cyptocurrency created, all other coins that has been created since Bitcoin is often refferred to as an "Altcoin," short for alternative coin.
Block is a single digital record created on a blockchain. Each block contains a record of the previous block plus 0 or more new transactions or data. When linked together these form the "chain" in blockchain.
A way of storing information using lots and lots of math. Information are typically organized into "blocks." Then the blocks are "chained" together in a way that prevents future changes to the information once the block is added to the chain.
Block Reward
The digital asset (usually coins) given to a computer node for successfully doing the work required to validate and add a block of transactions to a blockchain database.
Cold Wallet
A cryptocurrency wallet that has a copy of the blockchain on it but isn't connected to internet. You able to view details about your crypto assets but to spend or move your crypto assets, you will typically be required to reconnect to the internet.
Everytime the blockchain needs to be updated, all the nodes on the network has to agree to the new data or the update will be rejected. Each node on the network typically has all of the information and rules it needs to process new data without having to talk to a central server.
Crypto Currency
Crypto Currency (or Cryptocurrency) is a form of digital money powered by blockchain technology. It's a means of exchange or a way to capture and protect purchasing power against inflationary government backed currencies. Cryptocurrencies operate independently of a central bank. The first cyptocurrency was launched in 2009.
DAO = Decentralized Autonomous Organizations. It's a blockchain technology that allows for many corporate functions to be carried out without a centralized intervention. DAO uses smart contracts to execute commands based on external or internal information. DAOs lend themselves well to decentralizing governing and budgeting.
Distributed Ledger
Distributed ledger is as a system of independent computer nodes that all updates and keep track of the same information as other computers on the network. Is is common for a distributed ledger to use blochchain as the storage technology but it is not required; you can use and storage mechanism to store the information being recorded to a distributed ledger.
Hash Function
It is a fingerprint for information. It is a unique fixed length identifier for any given piece of content. It takes plaintext data of any size and turns it into a unique encrypted text of a specific length. Hash Functions are one of the two to three foundationational elements of blockchain networks.
On some blockchain networks, an Input is one half of of a transaction. Inputs start with a reference to one or more prevoius Transaction and a Signature. ie. If you would like a to create a transaction to send mom 50 dollars for watching the kid, your transaction on the blockchain will start with a reference to another transaction where you received 50 or more dollars. If there is no single transaction where you received 50 or more dollars, your wallet program with try to combine multiple previous transactions that equals 50 or more dollars to build your input.
Merkle Tree
It's a way to compress a lot of data and also reading or sifting through that data very quickly.
On some blockchain networks (ie, bitcoin), mining is the process of using a computer to both validate new transaction to be added to the blockchain and solving math puzzles. In these networks, the first computer to do both is rewarded with a new blockchain coin that didn't exist before. The more difficult the puzzle, the more computing power and electricity is required.
Native Currency
It's a unit of account or balance, or the base currency that is created by the blockchain network.
NFT (Non-Fungible Token) is a blockchain asset that is unique and not interchangeable. They cannot be replicated. They are typically used for art, gaming assets but can also be used to represent real world unique items on the blockchain including but not limited to college certificates, identies, vehicle titles, and house titles.
Nodes are the computer servers that makes up a blockchain network. Every node on the network keeps a copy of the blockchain database. Every node has to validate all new information added to the database before updating its copy the blockchain. When a new node is created and added to the network, it will connect with other nodes and download a copy of the blockchain. Typically there are a number of special nodes that do extra work in addition to validating, storing, and sharing the blockchain with other nodes.
nonce = random **N**umber that's used **once**.
Private Key
Private key is a the other half of a public/private key pair. This pair is basically a way to scramble information. With the private key, you can unscramble the information. The key itself is a string of letters and numbers, or collection of word known only by the key owner. On the blockchain, this key allows you receive and spend their crypto asset and manage things you own on a blockchain network. Typically private keys are used with a wallet. NEVER EVER share your private key with anyone as that lets them access, transfer, or spend your assets. On some blockchain networks it is possible to have assets on the network require two or more private keys to be transfer or spent.
Smart Contract
A set of instructions (digital agreements) stored on a blockchain that automatically executs partially or in whole when certain events happens. They can be used to replace escrows, saving time and money of going through a middle man.
A computer program that can talk to a blockchain to let you manage your crypto items.

Join our pool!

Unmatched Support
We provide phone and email support for all of our delegates. We understand that many of our community members are not tech or crypto nerds. You expect the same level of service and support you get from Reggie down at the bank or Saiid, your nephew or friend at the office that won't stop talking about Bitcoin. We host weekly meetups (currently online due to Covid). Visit our connect page for all the ways you can reach us.
Best in class servers
Our servers are run and managed by professionals whose only job is to manage and run servers 24/7 365/6 days a year. We run our Cardano nodes on the same servers powering other services you've come to rely on everyday, like Google and Pokemon Go. What this means for you is that our servers are always online and available to process transactions, earning you and the causes we support the optimal amount of $$$$. Visit our pool page for more technical details.
4% for community development and investment
Off all the rewards that come in, we keep 4% annually. All 4% goes towards charities you pick, paying LIDO nation community members like yourself to write code and content for the site, and grants for local community educational projects. See our financials page for full records of our spending, more details, and breakdowns.
An Amazing Community
When you delegate and join LIDO Nation, you get to participate in creating a space for people to interact, meet, learn, and teach each other. You get to be part of the engine that works to make every voice heard with equal importance. LIDO Nation is an idea. Delegate, take it and lets make something great!