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blockchain.txt
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https://www.pcmag.com/encyclopedia/term/permissionless
permissionless
permissionless blockchain
Not requiring authorization.
Permissionless often refers to public
blockchains that allow anyone to
participate in validating and mining
transactions as well as using the system
to buy, sell and trade assets.
Contrast with permissioned blockchain.
See blockchain, private blockchain and
crypto glossary.
permissioned
permissioned blockchain
consortium blockchain
private blockchain
A private blockchain that requires vetting
to become a validator, miner or, in many
cases, a user.
Uses the blockchain architecture but is
controlled by an organization.
Contrast with permissionless.
See blockchain, private blockchain and
crypto glossary.
TDA
Token Distribution Auction
During the TDA, the weights of both the
assets in the Balancer LBP will be
flexible and will change over time
depending on the trades initiated.
The moment the pool goes live on the 28th
of December 2021, the weight will be set
at 96:4 (ALI/USDC), and, over the time the
pool runs, this weight will gradually
decrease to the final weight of 50:50.
https://medium.com/alethea-ai/alethea-ai-announces-token-distribution-auction-ec17600e6233
cryptonetworks
Networks built on top of the internet that
1) use consensus mechanisms such as
blockchains to maintain and update state,
2) use cryptocurrencies (coins/tokens) to
incentivize consensus participants
(miners/validators) and other network
participants.
Some cryptonetworks, such as Ethereum, are
general programming platforms that can be
used for almost any purpose.
Other cryptonetworks are special purpose,
for example Bitcoin is intended primarily
for storing value, Golem for performing
computations, and Filecoin for
decentralized file storage.
Transaction malleability
While transactions are signed, the
signature does not currently cover all the
data in a transaction that is hashed to
create the transaction hash.
Thus, while uncommon, it is possible for a
node on the network to change a
transaction you send in such a way that
the hash is invalidated.
Note that this just changes the hash; the
output of the transaction remains the same
and the bitcoins will go to their intended
recipient.
However this does mean that, for instance,
it is not safe to accept a chain of
unconfirmed transactions under any
circumstance because the later
transactions will depend on the hashes of
the previous transactions, and those
hashes can be changed until they are
confirmed in a block (and potentially even
after a confirmation if the block chain is
reorganized).
In addition, clients must always actively
scan for transactions to them; assuming a
txout exists because the client created it
previously is unsafe.
Decentralized autonomous organization
DAO
decentralized autonomous corporation
An organization represented by rules
encoded as a computer program that is
transparent, controlled by the
organization members and not influenced by
a central government.
Can you imagine a way of organizing with
other people around the world, without
knowing each other and establishing your
own rules, and making your own decisions
autonomously all encoded on a Blockchain?
Well, DAOs are making this real.
A DAO’s financial transactions and rules
are recorded on a blockchain.
This eliminates the need to involve a
third party in a financial transaction,
simplifying those transactions through
smart contracts.
The firmness of a DAO is a smart contract.
The smart contract represents the rules of
the organization and holds the
Organization’s storage.
No one can edit the rules without people
noticing, because DAOs are transparent and
public.
Up to today we are used to companies
backed by legal status, a DAO may
perfectly function without it as it can be
structured as a general partnership.
In comparison to traditional companies,
DAOs have a democratized organization.
All the members of a DAO need to vote for
any changes to be implemented, instead of
implemented changes by a sole party
(depending on the company’s structure).
The funding of DAOs is mainly based on
crowdfunding that issues tokens.
The governance of DAOs is based on
community, while traditional companies’
governance is mostly based on executives,
Board of Directors, activist investors.
etc.
DAOs’ operations are fully transparent and
global, meanwhile, traditional companies’
operations are private, only the
organization know what is happening, and
they are not always global.
double-spending
The risk that a digital currency can be
spent twice.
It is a potential problem unique to
digital currencies because digital
information can be reproduced relatively
easily by savvy individuals who understand
the blockchain network and the computing
power necessary to manipulate it.
State channels
Refer to the process in which users
transact with one another directly outside
of the blockchain, or 'off-chain,' and
greatly minimize their use of 'on-chain'
operations.
Layer 2
A secondary framework or protocol that is
built on top of an existing blockchain
system.
The main goal of these protocols is to
solve the transaction speed and scaling
difficulties that are being faced by the
major cryptocurrency networks.