📚Glossary

A

• Algorithm: A process or set of rules to be followed in calculations or other problem-solving operations, especially by a computer.

B

• Blox Bridge: Tool for transferring assets between different blockchains within the Blox Network.

• Blox Connect: Service for integrating applications and services with the Blox Network.

• Blox DEX: Decentralized exchange for trading digital assets within the Blox ecosystem.

• Blox Discover: Platform for finding and exploring decentralized applications (dApps) within the Blox ecosystem.

• Blox Network: A decentralized ecosystem aimed at revolutionizing industries like finance, gaming, and healthcare.

• Blox Pad: A cutting-edge launchpad on the Blox blockchain that provides secure, accessible, and innovative opportunities for launching and investing in new blockchain projects.

• Blox Pay: Payment system for facilitating transactions within the Blox Network.

• Blox Scan: Blockchain explorer for viewing transactions, blocks, and other data on the Blox Network.

• Blox Smart Chain: Blockchain tailored for the crypto gaming industry, supporting Solidity developers.

• Blox University: Educational platform offering resources and courses on blockchain technology and development.

• Blox Validator: Individual or entity that validates transactions and produces blocks, earning rewards in the network.

• Blox Verse: Metaverse component incorporating virtual reality and augmented reality experiences.

• Blox Wallet: Digital wallet for storing and managing cryptocurrencies in the Blox ecosystem.

C

• Consensus Mechanism: Algorithm used to achieve agreement on a single data value among distributed processes or systems.

• Cross-Chain: Interactions and exchanges between different blockchain networks.

D

• dApps (Decentralized Applications): Applications that run on a blockchain network, utilizing smart contracts for operations.

• Decentralization: Distribution of authority away from a central entity, enhancing security and reducing single points of failure.

• DeFi (Decentralized Finance): Financial systems built on blockchain technology, allowing peer-to-peer transactions without traditional intermediaries like banks.

• Delegated Proof of Stake (DPoS): A consensus mechanism using selected delegates to produce blocks and secure the network.

E

• EVM-Compatible: Ethereum Virtual Machine-compatible network, allowing deployment of Ethereum-based smart contracts.

G

• Governance Token: Token grants holders the right to vote on decisions affecting the blockchain network.

I

• iCare Blox: Healthcare initiative using blockchain for medical data management and telemedicine.

• Interoperability: Ability of different blockchain systems to interact and share information seamlessly.

L

• Layer 2 Solutions: Secondary frameworks or protocols built on top of existing blockchains to increase scalability and efficiency.

• Liquidity Pools: Collections of funds locked in a smart contract to facilitate trading on decentralized exchanges.

M

• Metaverse: A collective virtual space created by merging virtual and physical realities.

N

• NFT: Non-Fungible Tokens, unique digital assets verified on the blockchain, used in gaming and digital art.

• Nodes: Computers that validate and record transactions on a blockchain network.

P

• Privacy Token: Cryptocurrency that enhances privacy by concealing transaction information.

S

• Scalability: The capability of a blockchain network to handle a growing amount of work or its potential to accommodate growth.

• Smart Contracts: Self-executing contracts with the terms of the agreement directly written into code.

• Solidity: A programming language for writing smart contracts on Ethereum and EVM-compatible blockchains.

• Stablecoin: Cryptocurrency designed to minimize price volatility, often pegged to a stable asset like a fiat currency.

• Staking: Process of holding a certain amount of cryptocurrency to support the operations of a blockchain network, earning rewards.

T

• Tokenomics: The economic model of a blockchain's token, covering distribution, utility, and governance.

V

• Validators: Entities responsible for verifying transactions and producing blocks in a DPoS network.

Y

• Yield Farming: Practice of staking or lending crypto assets to generate high returns or rewards in the form of additional cryptocurrency.