Glossary

Collection of terms and definitions

Address:

A unique identifier used to receive and send transactions on the blockchain network. Similar to an email address for cryptocurrency.

Block:

A collection of transactions grouped together and added to the blockchain. Each block contains a reference to the previous block, forming a chain.

Blockchain:

A decentralized, distributed ledger that records transactions in a secure, transparent, and immutable manner. Each block in the chain contains a list of transactions and a reference to the previous block.

Consensus Mechanism:

A protocol used by blockchain networks to achieve agreement on the validity of transactions. Common examples include Proof of Work (PoW) and Proof of Stake (PoS).

In this case, Maxi Network are using Proof of Stake as a consensus mechanism. Read more at Proof of Stake (PoS)

dApp (Decentralized Application):

An application that runs on a blockchain network rather than being hosted on centralized servers. dApps are typically open-source and operate using smart contracts.

Decentralization:

The distribution of authority and control across a network, rather than being held by a single central entity. This enhances security and reduces the risk of failure.

Ethereum:

A decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (dApps). It uses its own cryptocurrency called Ether (ETH).

Gas:

A unit that measures the amount of computational effort required to execute operations on the Ethereum blockchain. It acts as a fee mechanism to incentivize network participants and prevent abuse.

Read more at What is "Gas"

Maxi Bridge:

A platform that allows for the transfer of assets or data between two separate blockchain networks

Maxi DEX:

A decentralized exchange that operates without a central authority

Maxi Explorer:

A web-based tool that allows user to view and interact with the blockchain. It provides a user-friendly interface to access detailed information about blocks, transactions, addresses, and other blockchain-related data.

Maxi Faucet:

A platform that used to giving token is Maxi Network Testnet

Node: A computer that participates in the blockchain network by validating and relaying transactions. Nodes can be full nodes, which store the entire blockchain, or lightweight nodes, which store only parts of it.

Private Key:

A secret cryptographic key used to sign transactions and prove ownership of a blockchain address. It must be kept secure and private.

Public Key:

A cryptographic key that is derived from the private key and used to receive transactions. It can be shared publicly.

Smart Contract:

A self-executing contract with the terms of the agreement directly written into code. Runs on the blockchain and automatically enforces the contract terms without intermediaries.

Token:

A digital asset created on a blockchain, often representing assets or utilities within a specific ecosystem. Examples include ERC-20 tokens on the Ethereum blockchain.

Transaction:

A transfer of cryptocurrency from one address to another, recorded on the blockchain.

Wallet:

A software application or hardware device that stores private and public keys, allowing users to send and receive cryptocurrencies.

Whitepaper:

A detailed document that explains the technical aspects, use cases, and roadmap of a blockchain project or cryptocurrency.