A Glossary of Blockchain & DeFi Terms

51% Attack: A method of re-writing the blockchain by acquiring 51% of the overall hash rate. Hashing secures the blockchain. Any actor who obtains 51% of the overall hash rate, has the power to re-write the transaction ledger. This power can be used to roll back transactions, and spend them again (also known as double spend).

Actor: An entity that participates in a network.

Address: The public address of a private key used to receive and send transactions on the network.

ADDY: Public key of a decentralized Application.

Agreement Ledgers: Ledgers used by actors to negotiate and reach agreement.

Airdrop: An act of distributing tokens to a participant who has registered or participated in the event.

Alt-coin: Any crypto-currency other than Bitcoin. Etherium and Bitcoin Cash are examples of alt-coins.

Application-Specific Integrated Circuit (ASIC): A custom chip with a dedicated function (as determined by the designer). In the crypto-currency space, it is used to perform cryptocurrency mining via “proof of work” algorithms, in the most cost-effective means.

AshDraked: Term used to declare that you have lost all of your money.