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…This helps maintain the integrity and security of the blockchain.Key TakeawayA key concept in how data is securely and efficiently verified within a blockchain, a Merkle root represents the combined hash of all transactions within a block.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) on the Solana blockchain.HODLerA ‘HODLer’ is someone who holds onto their digital ass…
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…Once the trade is executed on the selected DEX, the user receives the desired cryptocurrency tokens at the best available price.Key TakeawayA decentralised exchange (DEX) aggregator is a platform or service that simultaneously sources from multiple DEXs in order to achieve the best possible trading prices and liquidity.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) on the …
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…For example, it offers high transaction speeds since blocks do not limit DAGs and minimal transaction costs compared to blockchains like Ethereum and Bitcoin.Since DAGs do not require blocks, they do not require mining, allowing for more environmentally friendly and energy-efficient networks.Key TakeawayA directed acyclic graph (DAG) is a type of structure commonly found as a form of consensus for a cryptocurrency.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collectio…
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…Anyone can access the Metaverse regardless of geographical location, background, or demographic; it’s an endless space that can be built upon.Key TakeawayThe Metaverse is a simulated digital environment that combines aspects of blockchain technology, social media, online gaming, augmented reality (AR), and virtual reality (VR) to create a 3D virtual space.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building dec…
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…For example, a wallet address is created from a public key, and only those who have the private key are able to access the account.Key TakeawayRSA (short for Rivest–Shamir–Adleman) is one of the widely used public-key encryption algorithms for secure data transmission and is used to securely transmit messages over the internet.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (da…
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…There are many attack vectors in a blockchain system, including double-spending, distributed denial-of-service (DDoS), and 51% attacks.Key TakeawayThe blockchain scalability trilemma states that blockchains can only simultaneously achieve two out of either decentralisation, scalability, or security — but never all three.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) on t…
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…All coins are considered tokens, but not all tokens are considered cryptocurrency coins.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) on the Solana blockchain.HODLerA ‘HODLer’ is someone who holds onto their digital assets long term, regardless of market volatility or price fluctuations.Hierarchical Deterministic (HD) WalletA Hierarchical Deterministic (HD) wallet is …
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…However, in the volatile and rapidly evolving cryptocurrency market, some assets may experience significant price fluctuations, which can impact their suitability as stable units of account for everyday transactions.Stablecoins, which are pegged to the value of traditional currencies or commodities, aim to address this volatility issue and provide a more stable unit of account within the cryptocurrency space.Key TakeawayIn the context of cryptocurrencies, a unit of account refers to the function…
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…Once deployed, the code of a smart contract cannot be changed, ensuring that the contract will execute exactly as written.Key TakeawayImmutability underpins the reliability and trustworthiness of blockchain technology by enhancing security, and preventing fraud and unauthorised alterations, making it a reliable ledger for transactions.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications…
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…It is only used during the execution of the transaction and discarded afterward.Calldata is more gas-efficient than other forms of storage on the blockchain, making it a preferable choice for passing large amounts of data when users don’t need to permanently store the data on-chain.Key TakeawayCalldata is an essential component for passing inputs to smart contract functions, optimising for cost by being temporary and non-modifiable during execution.Related WordsSolana Program LibraryThe Solana…
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