The address is the identifier where a transaction is sent. The address is derived from a user’s public key. The public key is derived from the private key by asymmetric key cryptography. In Ethereum, the public key is 512 bits or 128 hexadecimal characters. The public key is hashed (i.e., uniquely represented) with a Keccak-256 algorithm, which transforms it into 256 bits or 64 hexadecimal characters. The last 40 hexadecimal characters are the public key. The public key usually carries the prefix “0x.” Also known as public address. Note: Keccak-256 does not follow the FIPS-202 based standard (a.k.a SHA-3).
An abbreviation of “Bitcoin alternative”. Currently, the majority of altcoins are forks of Bitcoin with usually minor changes to the proof of work (POW) algorithm of the Bitcoin blockchain. The most prominent altcoin is Litecoin. Litecoin introduces changes to the original Bitcoin protocol such as decreased block generation time, increased maximum number of coins and different hashing algorithm
An open financial system that doesn’t rely on centralized authorities or intermediaries like banks to conduct financial activities permissionless like trading, borrowing, lending, and investing. Blocknative's APIs allow DeFi users to monitor popular DeFi Dapps like Uniswap (Ethereum) and Honeyswap (xDai).
A decentralized, open-source blockchain network that was launched in 2015 by its founder, Vitalik Buterin. Ethereum is the leading smart contract-enabled blockchain in the world, and it's native token, ETH, is the 2nd largest digital asset by market cap. Blocknative's APIs support the Ethereum blockchain and Ethereum test net including Ropsten, Rinkeby, Goerli, and Kovan.
Gas Price, Gas Fee
A fee required to execute a transaction on the blockchain in accordance to the smart contract. A unit of measurement that represents the computational effort required to complete a transaction. How much a user spends to complete a transaction is determined by the total amount of gas multiplied by the gas price. Blocknative can help builders and traders estimate their gas cost and troubleshoot gas-related issues in their Dapps via the Gas Platform API.
A way to measure the amount of computing power and security on a blockchain, as well as the efficiency of any miner or piece of mining equipment; technically, the rate at which a blockchain miner can create new hashes per second or do the calculations necessary to win the cryptocurrency being minted by the software
Initial Coin Offering
A crowd sale of new tokens, usually in exchange for cryptocurrency, to fund the development of a new blockchain and to distribute the tokens to a large population in order to seed the network with users incentivized to bring more people to the network and thereby see the value of their tokens increase
L1 refers to the main blockchain in a multi-level blockchain network. For example, Ethereum, Fantom and the Bitcoin blockchain are all layer one blockchains. Many layer two blockchain offload resource-intense transactions to their separate blockchain, while continuing to use Ethereum's or Bitcoin's layer one blockchain for security purposes. Blocknative's blockchain developer tools support Ethereum, Fantom, Bitcoin, Polygon, and xDai.
L2 refers to a secondary framework or protocol that is built on top of an existing, layer one blockchain. Layer 2 blockchains typically improve transaction speeds and cost efficiency. As layer two's continue to scale, mempool data gives builders looking to migrate or build new Dapps the tools to create the best user experiences. Blocknative offers mempool monitoring APIs for Polygon, a popular L2 blockchain.
In the same way a sports stadium will host concerts, conferences and events, owners can access a robust marketplace of digital experiences built exclusively for Metarenas.
From watching esports, with your friends to competing in weekly missions and achievements across your favorite video games, to just hanging out with your community in your newly acquired avatar.
Equip and activate a range of gamified add-ons and integrations that engage your community and increase token rewards.
An action that increases the supply of tokens and is the opposite of burn. Minting often occurs when a user enters a pool and acquires an ownership share. Minting and burning are essential parts of non collateralized stablecoin models (i.e., when stablecoin gets too expensive more are minted, which increases supply and reduces prices). Minting is also a means to reward user behavior. You mint NFTs as well as cryptocurrency created in many Layer 2 solutions.
Number Only Once
A number associated with Ethereum transactions that increases by one with every transaction, and a value that can only be used once. A common issue that Blocknative's pre-chain monitoring API solves is identifying nonce gaps which create stuck transactions prevent wallets from completing new transactions.
A digital asset based on Ethereum's ERC-721 token standard that can be used to represent ownership of a variety of digital assets including art, photography, music, and more. Developers can use Blocknative for NFTs to provide users with transaction notifications, gas estimations, and confidence buying and selling NFTs.
Reserve List (formerly whitelist) has multiple meanings in a blockchain context. First, it may refer to a list compiled by a blockchain start-up to assess the legitimacy of potential investors — using identity verification and intended investment amounts — that want to participate in an upcoming funding round. Second, it may refer to when cryptocurrency exchanges or wallets ask a user to verify the authenticity of a withdrawal address by “whitelisting” the address. This is done to prevent the user from becoming a victim of fraudulent withdrawals from their wallet or exchange account by malicious actors.
Smart contracts are self-executing contracts with the contract terms between buyer and seller directly written into lines of code. They run on the blockchain, so they are stored on a public database and cannot be changed. The transactions in a smart contract are processed by the blockchain, which means they can be sent automatically without a third party.
Our smart contracts are used to mint and configure unique NFTs as well as tokens for our creators.
Staking is the process through which a blockchain network user 'stakes' or locks their cryptocurrency assets on a network as part of the consensus mechanism, thus ensuring the security and functionality of the chain. Staked assets are usually held in a validator node or crypto wallet, and in order to encourage staking most projects reward the holders of staked tokens with annualized financial returns, which are typically paid out on a regular basis. Staking is a core feature of Proof-of-Stake (PoS) blockchain protocols, and each blockchain project which incorporates a staking feature has its own policies for staking requirements and withdrawal restrictions.
A device or service that stores users' public and private keys, allowing them to interact with various blockchains and to send and receive crypto assets. Wallets can be digital (software) or physical (hardware), hot (connected to the internet) or cold (disconnected from the internet), custodial (a trusted third party has control of a user’s private keys) or non-custodial (only the user controls their private keys).
Web 1.0 was initially launched in the early 1990s when the internet first began to enjoy mainstream adoption. Web 1.0 was primarily a static, read-only infrastructure which generally lacked the more expanded functionalities of Web 2.0. Web 1.0’s infrastructure was made up of many companies that were mostly unable to maintain their monopoly of the internet because they were replaced by more interactive, capable systems that became more widespread in the early 2000s. Today, many see a new evolution of the internet dawning, as blockchain systems seek to foster a more sophisticated, democratic, user-centric version of the internet: Web 3.0.
The realization of Web 2.0 began in the early 2000’s. This second wave of internet innovation is characterized by its read-write and interactive design model. Platforms such as Amazon, Facebook, Airbnb, Alibaba, and Twitter led the charge in Web 2.0 development, offering dynamic and multi-functional application experiences across all our devices. However, many criticize Web 2.0 for being too centralized, and for paving a path toward excessive focus on profit, unreasonable advertising, mass surveillance, decreased privacy, and widespread data theft. In response, the Web 3.0 movement seeks to leverage blockchain technology to flip the Web 2.0 model on its head and link programs directly with each other.
The term Web 3.0 refers to a vision of the third generation of computing, which anticipates that technologies like blockchain will decentralize the internet and disintermediate Web 2.0 companies like Facebook, Amazon, LinkedIn, and Apple to enable the online exchange of value, and allow users to own their data. Web 3.0 is designed to benefit all participants using a peer-to-peer (P2P) model for websites, applications, and the internet as a whole. It will focus in many ways, on producing a machine-readable data-driven semantic web. Many believe blockchain and crypto are central to the realization of the open, public, censorship-resistant, borderless, free internet: Web 3.0.
A report-style document that explains a complex issue in relation to a specific industry or field, and discusses how an enterprise solves that problem. Whitepapers typically introduce a business model and development plan. In the context of blockchain, a whitepaper is one of the first documents that is created after a project has a working product and funding. It also acts as a pitch to new investors to help the company further their funding process. For blockchain-specific whitepapers, the technical architecture, token economics, team, and other data are also commonly outlined.