Blockchain-Terminologies

நம்Chain - Open Initiative Research Lab

Blockchain-Terminologies - E

• ECDSA - Elliptic Curve Digital Signature Algorithm (ECDSA) is a cryptographic Digital Signature Algorithm based on Elliptic Curve used in Blockchain to ensure the transactions are done by the owners.

• Ethereum is the second generation Blockchain Technology also referred to as World Computer with Smart Contract functionality. The Genesis block was mined on July 2015. The native cryptocurrency is Ether (ETH), having the second highest Market Cap in Cryptocurrency Market with currently rate of 1 ETH exchanged for ₹28,911.87 today.

• EVM - Ethereum Virtual Machine (EVM) is Sandboxed Virtual Machine part of Ethereum Full Node where the Smart Contract executes.

• EIP - Ethereum Improvement Proposal (EIP) is a design document providing information or describing a new feature or its processes or environment. The EIP should provide a concise technical specification of the feature and a rationale for the feature. Standard EIP, Informational EIP and Meta EIP are its types. EIP-0001 with title “EIP Purpose and Guidelines” by Martin Becze, Hudson Jameson, et al. introduced EIP and it’s the first one.

• ERC - Ethereum Request for Comments (ERC) is an Ethereum Standard for developers for implementation. ERC20 is the one of the Token Standard and ERC725 is one of the Identity Standards.