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For information and learning only. Not investment advice. Crypto assets involve risk.

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Glossary

Terms50 shown

BEP-95An BNB improvement proposal for Chain to introduce a real-time burn mechanism for block fuel fees BNB.
EIP-1559An improvement proposal that adjusts Ethereum’s transaction fee mechanism and introduces a partial fee-burning arrangement.
EigenLayerA project built on the Ethereum blockchain that provides security for multiple services through restaking and validator mechanisms.
Layer 2 SolutionRefers to scaling protocols built on top of existing blockchains that improve scalability through mechanisms such as state channels, sidechains, or rollups.
MultiplierAn on-chain elastic supply mechanism that automatically reflects corporate actions such as net dividend reinvestment and stock splits by adjusting bStock balances.
MultisignatureA security mechanism that requires two or more private keys to jointly authorize a single cryptocurrency transaction.
PoSAProof of Staked Authority is BSC’s consensus mechanism; validators participate in block validation by staking BNB and earn transaction fees.
Proof of StakeA consensus mechanism in which validators lock up tokens to help secure the network and validate blocks.
Proof of Stake (PoS)A consensus mechanism that rewards block validation based on the amount of tokens staked by validators.
Proof of WorkA consensus mechanism in which miners compete to validate blocks,Bitcoin uses this mechanism.
Proof-of-Work (PoW)A mechanism in which miners contribute computing power to compete for the right to create new blocks, while full nodes validate the network rules.
RSA Key pairAn encryption mechanism composed of a public key and a private key, which can be used to protect communications, encrypt data, and create or verify digital signatures.
SidechainsAn independent blockchain that runs in parallel to the main chain and connects to it via a bridge, while having its own consensus mechanism and security model.
State ChannelA bidirectional communication mechanism that enables participants to update their shared state directly off-chain, relying on blockchain settlement only at stages such as opening and closing.
Wallet honeypotsWallet honeypots refer to scammers publicly displaying wallet credentials that appear to hold assets, enticing others to add fees or attempt transfers, while using control mechanisms to trap or siphon off funds.
bug bountyA mechanism that rewards researchers for responsibly disclosing vulnerabilities in code or infrastructure; rewards are typically adjusted according to the severity of the vulnerability.
copyleftA licensing mechanism that permits the publication of derivative works, provided they are distributed under the same license terms as the original work.
ePBSThe protocol incorporates an enshrined proposer-builder separation (ePBS) mechanism, bringing the responsibilities for selecting consensus blocks and assembling execution payloads, as well as the handoff process, into the core protocol.
halvingRefers to Bitcoin’s mechanism of reducing the new-block issuance reward approximately every 4 year, thereby reducing the rate at which new coins enter circulation.
initial coin offerings (ICOs)A mechanism primarily used by projects to raise funds in the early stages; participants typically do not receive ownership in the company.
proof of stakeA blockchain mechanism that aligns validator incentives through staking and slashing, reducing the attractiveness of dishonest behavior.
proof of workA blockchain mechanism that deters improper behavior by increasing the cost of attacks.
proof of work (PoW)A consensus mechanism that relies on miners repeatedly performing computations and finding valid solutions.
proof-of-stakeA mechanism in which validators lock up tokens to help secure the network and receive newly issued tokens as staking rewards.
proof-of-stake (PoS)A mechanism that typically combines randomness and stake size to select validators to propose or attest to blocks, without relying on computational power competition.
proof-of-workA consensus mechanism in which miners compete to solve mathematical problems; the finder of a valid solution may add the next block and receive a block reward.
tokenomicsA set of mechanisms and rules describing how tokens are created, allocated, and managed.
x402Binance Agent OS integrated payment mechanism that enables an Agent to initiate and settle payments with other Agents.
“Proof of Work” (PoW)The consensus mechanism used in Bitcoin mining, in which completing computational work requiring substantial computing power serves as the basis for adding new blocks.
Price oracleA mechanism that AMM provides real-time asset price information for centralized trading platforms.
SidechainAn independent blockchain that operates in parallel with Bitcoin, has its own consensus rules, and connects to Bitcoin through a cross-chain mechanism.
Public-key cryptographyA cryptographic mechanism that uses mathematically related public and private keys to perform encryption or digital signature operations.
Consensus mechanismA set of rules that governs how network nodes reach agreement on the state of the blockchain and the validity of transactions.
Consensus algorithmA mechanism that helps different computers in a blockchain network reach agreement on a shared state or fact.
Two-factor authentication (2FA)A security mechanism that requires users to provide two different forms of identity credentials before being granted access to an account or system.
password managerA tool used to centrally generate, store, and manage different passwords, typically providing additional protection through encryption mechanisms.
Proof of WorkA consensus mechanism in which miners solve cryptographic puzzles through computation to validate transactions and create new blocks.
Proof of Work (PoW)A consensus mechanism in which miners compete using computational power to solve problems, thereby validating transactions and adding new blocks.
Proof of Work (PoW)A mechanism in which miners compete to add new blocks by solving computational problems, and the network verifies the computational results.
Forced LiquidationA risk-management mechanism in which a leveraged position is forcibly closed by the system after moving adversely beyond a specified threshold.
Digital signatureA cryptographic mechanism used to verify the source and integrity of messages and authorize transactions; it cannot by itself prevent double spending.
Proof of Staked Authority (PoSA)Proof of Staked Authority (PoSA) is a consensus mechanism that combines the characteristics of Proof of Stake and Proof of Authority, emphasizing relatively fast finality and lower fees.
Proof of Staked Authority (PoSA)A consensus mechanism that combines Proof of Stake with Proof of Authority, requiring validators to both hold or stake tokens and have a trusted reputation.
Proof of StakeA mechanism that supports network consensus through participants staking assets and performing validation activities.
Proof of Stake (PoS)A consensus mechanism that selects validators primarily based on the amount of cryptocurrency staked by participants.
Proof of Stake (PoS)A consensus mechanism in which validators stake assets on the network to participate in creating new blocks.
Perpetual ContractA derivative contract with no expiration date, designed for continuous holding, whose funding rate mechanism helps keep its price close to that of the underlying asset.
Attention mechanismThe attention mechanism is a key component of the Transformer, enabling the model to focus on relevant parts of the input text and capture relationships between words.
White paperA document describing a cryptocurrency project’s content, operating mechanisms, intended objectives, and potential challenges.
Hard rug pullA type of rug pull in which malicious mechanisms—such as restricting selling, unlimited issuance, or direct withdrawal of funds—are written into the smart contract in advance.

Definition

Consensus mechanism

A set of rules that governs how network nodes reach agreement on the state of the blockchain and the validity of transactions.

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