ZIGChain Glossary
This comprehensive guide will help you navigate the world of ZIGChain and understand key terms and concepts.
Jump to a Letter:
A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
B
Blockchain: A decentralized ledger technology that records transactions in cryptographically linked blocks. Each block contains a hash of the previous block, a timestamp, and transaction data, forming an immutable chain maintained across a peer-to-peer network.
Block: A collection of transaction data in a blockchain.
C
Cosmos SDK: The open-source framework used to build ZIGChain, known for its modularity and interoperability.
Crypto Wallet: A digital wallet used to store, send, and receive cryptocurrencies.
D
DeFi (Decentralized Finance): Financial services and products built on a blockchain that operate without traditional intermediaries.
E
Epoch: A fixed time period during which validators process transactions and earn rewards for maintaining network operations.
G
Gas Fees: Transaction fees paid to process operations on the ZIGChain blockchain.
Governance: The system by which decisions are made and implemented in the ZIGChain ecosystem.
I
Interoperability: The ability of different blockchain networks to communicate and interact with each other.
L
Layer 1: The base level of blockchain architecture, responsible for all fundamental network operations.
Liquidity: The ease and speed at which an asset can be bought or sold in the market without affecting its price.
M
Mainnet: The fully operational blockchain network where genuine cryptocurrency transactions, smart contracts, and decentralized applications are executed, distinct from test environments.
Minting: The process of creating and issuing new cryptocurrency tokens, NFTs, or other digital assets on a blockchain.
N
Native Token: A blockchain's inherent cryptocurrency that plays an integral role in network operations and governance. ZIG is the native token of ZIGChain.
O
Oracle: A middleware service that securely connects a blockchain with external data sources.
P
Proof of Stake (PoS): A consensus mechanism that selects validators to create new blocks based on the amount of cryptocurrency they “stake,” rewarding those who contribute to network security.
R
Remote Procedure Call (RPC): A communication protocol that allows applications to interact with the blockchain network remotely.
S
Smart Contract: A blockchain program that automatically executes, verifies, and enforces digital agreements when predefined conditions are met.
Staking: The process of locking up cryptocurrency holdings to support network operations and earn rewards.
T
Testnet: A blockchain testing environment where developers can experiment with new features and applications before deploying them to mainnet, using test tokens instead of real assets.
Token: A unit of value issued by a blockchain project, often used to interact with decentralized applications.
Transaction: An action recorded on the blockchain, such as transferring tokens or interacting with a smart contract.
Total Value Locked (TVL): The aggregate value of all assets deposited and secured within a blockchain.
U
Unbonding Period: The amount of time that a delegator must wait before they can access and move their tokens after unstaking.
V
Validator: A node in a proof-of-stake system responsible for verifying transactions and maintaining network security.
W
Wealth Manager: An individual or entity that deploys and manages investment strategies on ZIGChain.
Wealth Management Engine (WME): ZIGChain's unique liquidity layer that simplifies complex DeFi operations for users.
Web3: The concept of a decentralized internet built on blockchain technology, emphasizing user control and data ownership.
Z
ZIG: The native token of the ZIGChain ecosystem, used for transactions, governance, and accessing platform features.
ZIGChain: A Layer 1 blockchain, designed to democratize access to wealth-generation opportunities.