Blockchain-Terminologies

நம்Chain - Open Initiative Research Lab

Blockchain-Terminologies - C

• Cryptography is the art and science bof creating and solving codes for securing communication between intended parties.

• Confidentiality is one of the objectives in the CIA model of Information Security. It is an assurance that the data in transmission or on storage is not disclosed to unauthorized entities. Encryption is the method to ensure confidentiality.

• Cryptographic Hash Function is a one way mathematical function which takes an arbitrary length input and provides a fixed length output called hash value. MD and SHA are the most popularly known family of Hashing algorithm.

• Cryptocurrency is a digital virtual money used as a medium of exchange where creation, transfer, ownership are recorded in a distributed ledger using strong cryptographic algorithm.

• Cryptoasset is a digital representation of real-world asset or value, real or virtual collectible that is created, stored and traded in a distributed ledger using strong cryptographic algorithm.

• Consensus is a fault-tolerant method through which all the peers in the distributed network agree on the present state of the ledger.

• Confirmed Block is a block with valid transactions that is part of the Blockchain Ledger after successful Consensus.

• Coinbase Transaction is a unique and first transaction in a block that is created by a miner to collect the block reward and the transaction fees.

• Chaincode is a program that contains the business logic written to read and update the ledger state. Chaincode is written in Go, node.js or Java and runs in a secured docker container.

• Consortium Blockchain or Federated Blockchain is a permissioned Blockchain network across multiple organisations.