SEDA Network
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Glossary

API

A set of rules and protocols for building software applications that allow for the integration of different systems.

Burning

A tokenomic mechanism that removes cryptocurrency from the overall supply by sending the tokens to a wallet with no private keys.

Consensus mechanism

A protocol for reaching agreement on the state of a distributed ledger.

Cross-chain

A system that allows for transferring assets or data between different blockchain networks.

Data feed

A stream of data provided by an external source to a smart contract or other systems.

Data provider

A company or organization that provides data to a smart contract or other systems.

Data validation

The process of verifying the accuracy and completeness of data.

Decentralized finance

A financial system built on blockchain technology that allows for peer-to-peer transactions without the need for intermediaries.

Decentralized oracle network

A type of oracle provided by a decentralized network of participants that aims to provide more trustless and censorship-resistant data feeds.

Economically secured

A blockchain network that is secured through economic incentives, such as the reward for validating transactions.

Finality

The point when a data request’s answer cannot be reverted because it is too expensive for a malicious actor to do so.

Governance

The process of making and enforcing rules and decisions within a blockchain network.

Intermediary

A third party that facilitates transactions or exchanges between two parties.

Interoperability

The ability for different blockchain networks to communicate and exchange data with each other.

Minting

The process of generating new tokens.

Nodes

The computers or servers on a blockchain network that store a copy of the blockchain and participate in the consensus process.

Node operators

The individuals or organizations that operate nodes on a blockchain network.

Off-chain data

Data that is not stored or directly available on a blockchain network but instead referenced by oracles.

Open source

Software whose source code is available to the public and can be freely modified and distributed.

Oracle

A special type of messenger that can fetch information from the outside world and safely bring it to the smart contract, on-chain.

Oracle aggregator

A service that collects data from multiple oracles and provides it to a smart contract.

Permissionless

A system that does not require permission from any central authority to join or participate.

Proof of stake (PoS)

A consensus mechanism in which network participants stake their own cryptocurrency as collateral to validate transactions and add blocks to the chain.

Proof of work (PoW)

A consensus mechanism in which network participants compete to solve a computationally intensive problem, and the first one to solve it gets to add the next block to the chain.

Scaling solutions

Techniques or protocols that allow a blockchain network to process more transactions or data without sacrificing security or decentralization.

Slashing

Removing staked tokens from a staked participant's possession and punishment for a validator who breaks the rules of a blockchain network, such as attempting to double-spend a transaction.

Smart contract

A self-executing contract with the terms of the agreement between involved parties being directly written into lines of code.

Staking

The process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network.

Trustless

Referring to a system that does not require trust between parties, as the terms of the agreement are enforced by code rather than by trust in a centralized intermediary.

Total Value Secured (TVS)

The Total Value Secured is the sum of an oracle network's economic impact and adoption.

Wallets

Software programs or hardware devices that store and manage cryptocurrency keys.

Web3

The third generation of the World Wide Web aims to decentralize the web and give users more control and ownership over their data.