Discover the most commonly used terms in the world of blockchain and on the Enjin Platform.
Below is a list of essential terms in the blockchain and crypto space that will be useful when using the Enjin Platform and interacting with blockchain technology in general:
A blockchain is a distributed and decentralized digital ledger that records all transactions made in a cryptocurrency, like Bitcoin, among others. It is maintained by multiple computers connected in a peer-to-peer network. Essentially, a blockchain acts as a ledger that enables the efficient recording and tracking of assets and transactions.
A block is a fundamental unit of data storage in a blockchain that stores information such as transactions, timestamps, and a unique identification code called a hash. Blocks are added to the blockchain in a linear, chronological order, forming a chain of blocks, hence the name "blockchain." Once a block is validated and added to the chain, it cannot be modified or deleted, ensuring the integrity and immutability of the blockchain.
A Seed Phrase, also known as a Recovery Phrase, is a sequence of words generated by blockchain wallets that provide access to the cryptocurrencies linked to that wallet. It is crucial to keep the Seed Phrase confidential and secure as it serves as a backup for accessing the funds associated with the wallet. It is recommended to store the Seed Phrase in a safe location to prevent any unauthorized access or loss of funds.
A DApp (Decentralized Application) is a type of application that functions independently through the use of smart contracts on the blockchain. Similar to traditional apps, DApps provide value and usefulness to users who interact with them on the blockchain.
A blockchain account refers to a digital wallet that enables users to securely store and manage their cryptocurrencies. It is important to distinguish a blockchain account from a blockchain wallet imported into a wallet application, as the latter only serves as a gateway to access your account, which is stored on the blockchain.
A private key is a cryptographic number that functions like a password. It is utilized to generate signatures that can be authenticated without compromising the security of the private keys. Private keys are usually created or derived from the seed phrase and play a crucial role in securing one's blockchain assets.
A blockchain address is a unique alphanumeric string that identifies the location of a specific wallet on the blockchain. This address enables users to send and receive cryptocurrency from other users or platforms on the blockchain and serves as a public identifier for that particular wallet.
A validator node is responsible for maintaining a Matrixchain. It collects transactions on the Matrixchain and produces state transition proofs for the validators to verify.
Extrinsic refers to state changes that originate from outside the blockchain system, such as user actions or events. There are two types of extrinsics: "inherents," which are system-generated and do not require validation, and "transactions" which require validation by the network validators before being added to the blockchain.
Governance refers to the decision-making process in a network to determine permissible changes, such as modifications to code or transfer of funds. In Enjin, the governance system is on-chain and based on stakeholder voting.
Interoperability refers to the capability of different systems to exchange and use information. This concept is often applied to cross-chain technologies, where different blockchain networks can communicate and share data with each other.
Fungible tokens (FTs) are digital tokens on a blockchain that are interchangeable with other tokens of the same type and value. FTs have a fixed quantity and can have decimal places, similar to traditional currencies. An example of a fungible token is a twenty-dollar bill, where each bill has the same value and can be exchanged for another twenty-dollar bill.
An NFT (non-fungible token) is a distinct and exceptional digital asset built on the blockchain. These assets can include various things like gaming items, digital artwork, sports collectibles, and even physical assets. With NFTs, new economic models and interconnected digital realities are emerging. Unlike fungible tokens, each NFT is unique, making it impossible to exchange one NFT with another at an equivalent value.
Proof of Stake (PoS) is a consensus mechanism used by some blockchains to validate transactions and create new blocks. In PoS, validators are selected to create new blocks based on the amount of cryptocurrency they hold and "stake" in the network. The more stake a validator has, the more likely they are to be chosen to validate transactions and earn rewards in the form of newly created cryptocurrency.
TPS is an acronym for Transactions Per Second, which refers to the number of transactions a network can process per second while producing new blocks and verifying transactions.
Staking refers to the process of engaging in transaction validation or lending tokens to earn staking rewards from a blockchain protocol or exchange.
The Enjin Platform is a Platform as a Service (PaaS) designed for blockchain applications, specifically for creating and managing blockchain games. It eliminates the complexity and burden of building and maintaining the infrastructure associated with blockchain game development, providing a suite of powerful and flexible tools and services for developers to create innovative and cutting-edge blockchain games and applications.
The Wallet Daemon is a utility that automates the approval of transaction requests between the Enjin Platform and your wallet.
Without the Wallet Daemon, every in-game blockchain transaction (such as sending a sword to a player) would need to be authorized manually through the Enjin Wallet.
The Wallet Daemon manages an Enjin address linked to your Enjin account. When a transaction is initiated on the Enjin Platform, the Wallet Daemon receives the transaction, approves it by signing it, and then returns it to the Enjin Platform.
NFT.io is a comprehensive NFT marketplace that provides users with the ability to purchase, trade, and create NFTs using the full capabilities of the Enjin Platform.
A query is an object that clients can use to request specific information from a server, such as a list of available addresses or tokens on the Enjin Platform.
A mutation is a type of operation in the Enjin Platform that allows for modifying or updating data. Unlike a query, which is used for read-only operations, mutations are designed for write operations, such as creating new tokens, minting existing ones, or setting metadata for tokens.
GraphQL is a language for querying and manipulating data in APIs that is open-source and includes a runtime for satisfying queries with existing data.
GraphQL Playground is a web-based IDE (Integrated Development Environment) that enables developers to interact with and test GraphQL APIs. It provides an intuitive interface to explore, document, and test queries and mutations for the Enjin Platform, improving the development experience for users. It is based on GraphiQL and was created by Prisma.
The Enjin Platform Schema refers to a structured representation of the data and functionalities provided by the Enjin Platform, which developers can use to integrate the platform into their projects using the GraphQL language.
The Enjin Wallet is a digital wallet designed for users to securely store and manage their cryptocurrency and blockchain assets. It provides a range of features and functionality, making it suitable for traders, developers, and gamers alike.
Metadata in the context of blockchain for NFTs refers to the information that describes the content stored on an NFT in the blockchain. It can include details such as the name, description, image, and attributes of an FT or NFT.
IPFS stands for InterPlanetary File System, which is a decentralized protocol and peer-to-peer network designed for storing and sharing files in a distributed manner. IPFS uses content-addressing to uniquely identify each file in a global namespace, making it possible for all computing devices to connect and share data.
Within the Enjin Ecosystem, currency specifically refers to ENJ, which serves as the native cryptocurrency facilitating transactions and interactions. ENJ is used as a digital currency to purchase, sell, and trade virtual assets, as well as to incentivize and reward participants within the ecosystem.
Enjin Beam is a feature that uses blockchain and QR code scanning to enable users to quickly and securely send or receive virtual assets within the Enjin ecosystem via their mobile devices. It facilitates the transfer of assets, including NFTs (Non-Fungible Tokens), between wallets with ease.
Enjin Beam Credits is a system that enables users to obtain credits by exchanging tokens or engaging in specific activities. With these credits, users can use the Enjin-managed version of Beam without having to create their own integration with the Enjin Platform or learn how to use the API to develop a Beam.
In the Enjin Ecosystem, the term "Collections" refers to a set or group of virtual assets, typically NFTs, that are created and managed by developers, individuals, or organizations. Collections can be focused on specific themes, concepts, or unique characteristics.
In the Enjin Ecosystem, auctions provide a decentralized and transparent platform for users to sell and purchase virtual assets. Users can list their assets for auction, specify the duration of the auction, and set a starting price. Other users can place bids on the assets, and at the end of the auction period, the highest bidder wins the asset.
The Fixed Price Sale feature within the Enjin Ecosystem enables users to offer their virtual assets for sale directly to other users at a set price. This approach simplifies the process of buying and selling assets as it does not involve any bidding or negotiation.
The Create Collection feature in the Enjin Ecosystem allows users to personalize their own collections of virtual assets. With this functionality, users can specify the name, description, and attributes of the collection, and then add their virtual assets to it. This provides users with a way to manage their assets in a customized manner that reflects their preferences and goals.
The Enjin Ecosystem provides a feature called Create Asset, which allows users to create their own NFTs. NFTs are one-of-a-kind digital assets that can represent a wide range of digital or physical items, such as art, music, games, or real estate. With Create Asset, users can specify the attributes, properties, and metadata of their assets and mint them on the Enjin blockchain, making them easily verifiable and tradable within the ecosystem.
In the Enjin Ecosystem, royalties represent a percentage of the revenue that creators or owners of virtual assets can receive each time their assets are sold or traded by other users. This functionality provides a continuous stream of income to creators and incentivizes them to keep producing valuable virtual assets within the ecosystem.
A node in a blockchain network is a decentralized component that verifies and validates transactions and blocks. It functions as a computer or a device that executes software, allowing it to connect to the blockchain network and interact with other nodes.
The Matrixchain is a data structure designed to maintain global coherence and be validated by the Relaychain validators. It consists of parallelized chains that operate alongside the Relaychain, and while it often has a blockchain-like structure, it does not necessarily need to be a blockchain.
Validators within the Matrixchain ecosystem are essential participants responsible for validating transactions and adding new blocks to the Relaychain and all Matrixchains. This enables cross-chain transactions to be executed via the Relaychain. Off-chain consensus is performed by Matrixchain validators, who submit candidate receipts to the transaction pool for a block producer to include on-chain. Relaychain validators ensure that each Matrixchain adheres to its specific rules and enable message passing between shards in a trustless environment.