Blockchain-Terminologies

நம்Chain - Open Initiative Research Lab

Blockchain-Terminologies - D

• Double Spending - Double Spending is a potential flaw in digital cash transaction system where the same digital money can be spent more than once.

• Decentralization - Decentralization is the process of dispersing the resources, functions or powers from a central location or authority, where there is no single point of failure.

• Distributed - Distributed is the process of distributing the resources and functions to all systems located on different networked computers, which communicate and coordinate their actions by passing messages to one another.

• Digital Signature - Digital Signature is a cryptographic primitive to verify the authenticity and integrity of the message where signing refers to encrypting hash of the message using the private key.

• DLT - Distributed Ledger Technology (DLT) is a peer-to-peer consensus driven network of shared and distributed ledger. Blockchain Technology is one form of DLT.

• DAG - Directed Acyclic Graph (DAG) is a directed graph with no directed cycles which is used to model many different kinds of information.

• Difficulty - Difficulty is the value or measure to determine how hard it is to mine a block or to find a hash value below the given target.

• DApp - Distributed Application (DApp) is an application that runs on a Distributed Ledger Technology like Ethereum Blockchain. DApp is a collection of smart contracts and User Interface.

• DAO - Decentralized Autonomous Organization (DAO) is an organization represented by logic & rules as a digital program typically in form of smart contracts that is controlled by the organization members where the transactions and the contracts are maintained on a blockchain.

• DeFi - Decentralized Finance (DeFi) is the ecosystem of peer-to-peer cryptocurrency based financial DApp.