Glossary

Distributed Database is a database type where the information is stored in several copies, on devices located in different locations.

Consistency is a distributed database property that means that all copies of the data are synchronized and identical to each other.

State is a state of a blockchain. It describes some current system state. A state, for example, can include user balances, owned by users tokens, etc.

Consensus is an agreement of the network participants on consistency.

Transaction a state change. An operation that changes the state of the blockchain, for example, the transfer of cryptocurrency from one user to another.

Transaction fee is a transaction commission. Any change in the blockchain state is paid by a commission. This is required to control the flow of such changes because the changes require network computing resources to reach and verify consensus.

Substrate is a kind of constructor that allows you to collect, configure and customize your blockchain.

Polkadot is a stable blockchain made from Substrate by Parity to use it as a Relay - collecting node for a large number of parallel blockchains (parachains, parathreads). Each parachain has its own business logic, for example, the Unique Network parachain implements advanced NFT logic.

Kusama is an unstable relay, an experimental kind of Polkadot. All innovations first go to Kusama, and only then to Polkadot.

Token is a valuable unit in the blockchain.

KSM is the Kusama token, the cryptocurrency of the Kusama network. Used to pay commissions on the Kusama network.

DOT is the Polkadot token, the cryptocurrency of the Polkadot network. Used to pay commissions on the Polkadot network.

UNQ is the Unique token, the cryptocurrency of the Unique network. Used to pay commissions on the Unique network.

QTZ is the Quartz token, the cryptocurrency of the Quartz network. Used to pay commissions on the Quartz network.

NFT (or Non-Fungible Token) is a unique indivisible token. It reflects some unique indivisible essence of the real or virtual world. For example, a car, an apartment, a diamond, a cryptocurrency, a cryptobank, or any game item. The Ethereum blockchain has an NFT token standard known as ERC-721.

RFT (or Re-Fungible Token) is a unique divisible token for proportional ownership of NFT. Also reflects some unique essence of the real or virtual world, but can be divided into several parts distributed separately. The Ethereum blockchain has a Fungible token standard known as EIP-1633.

Fungible Token is a divisible value. These tokens reflect the values of the real or virtual world that can be divided or added. For example, rubles, dollars, gold, wood, money in the game Monopoly, etc. The Ethereum blockchain has a Fungible token standard known as ERC-20.

Native Network Token. The blockchain usually has some kind of Fungible token for paying network fees, which is “stitched” in its code and cannot be changed (or it will be very difficult and expensive to change). It regulates the entire economy of the network. For example, KSM tokens for the Kusama network, DOT for the Polkadot network, and UNQ for the Unique Network.

Application Token is a token created and managed by some specific application, for example, a game. The economy of the entire network does not depend on it, but only the economy of a particular application, if the application author wants this.

Minting is the operation of creating a divisible or an indivisible token.

Transfer is an operation that transfers a divisible or an indivisible token.

Burn. The operation of destroying a divisible or an indivisible token.

Total supply is the total amount of some indivisible token in the world. The mint operation increases this amount, the burn operation decreases it, and the transfer operation does not change this value.

Send is the operation that sends a token, sometimes used instead of the transfer operation.

Sell (list) means to put an NFT token for sale (in the terms of a marketplace).

SS58 is the extensible address format for the Substrate chains. A key characteristic when considering cross-chain interoperability and account derivation. Read more hereopen in new window.

Buy (delist) means to buy an NFT token (in the terms of a marketplace).

Cancel - in the context of a marketplace, it means to cancel the sale of a token, and remove it from the sale.