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…Examples include sidechains and payment channels like Lightning Network (Bitcoin) and Arbitrum (Ethereum).Key TakeawayBlockchain scalability refers to the ability of a blockchain network to handle an increasing amount of transactions and data without compromising performance, security, or decentralisation.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 blockch…
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…This means that the transaction cannot be changed, and only the parties with specific permission may view the results. Smart contracts are written in a variety of programming languages; the most popular are Solidity, WebAssembly, and Michelson.Key TakeawaySmart contracts are self-executing, where the contents of the agreement between the buyer and seller are embedded into lines of code.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-sour…
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…On the other hand, the sidechains on the Ethereum network are Loom Network and SKALE.Key TakeawayA sidechain is a separate blockchain that runs in parallel, and acts as an extension, to the main blockchain.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 mark…
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…Modifiers can be attached to functions to enforce certain conditions before execution, while event listeners can trigger actions based on specific events occurring on the blockchain.Key TakeawayIn the context of blockchain, ‘hooks’ typically refer to pieces of code that allow developers to customise the behaviour of a blockchain protocol.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised appli…
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…It also provides an efficient way for developers to transfer tokens from Ethereum to other EVM-compatible blockchains.Key TakeawayEthereum Virtual Machine (EVM) is a platform for executing dapps and smart contracts on the Ethereum blockchain.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 …
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…The most popular consensus mechanisms are Proof of Work (PoW) and Proof of Stake (PoS).For more on the differences between the PoW and PoS consensus mechanisms, see our University article Proof of Work vs Proof of Stake.Key TakeawayConsensus is how a blockchain achieves agreement in a decentralised peer-to-peer (P2P) network.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised applications (dapps) o…
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…Encryption ensures the message (which was initially written in plaintext) can be read only by the intended recipient.Key TakeawayPlaintext is a form of text that humans can understand without the need for decryption.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, regardle…
…Many other blockchains, such as Avalanche, Cardano, and Solana, are all currently using some form of PoS.Learn more about Ethereum staking.Key TakeawayStaking is the process of providing funds to a blockchain network in return for interest.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 as…
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…However, there are also ambitious developers creating new projects that aim to find the perfect balance and solve the trilemma. Key TakeawayThe blockchain trilemma refers to a common problem that all networks currently face, where they can only optimally provide two out of the following three benefits: decentralisation, scalability, and security.Related WordsSolana Program LibraryThe Solana Program Library (SPL) is a collection of ready-to-use, open-source components for building decentralised …
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…The Merkle tree is created and maintained by an independent auditor.Key TakeawayA Merkle tree is a data structure constructed by hashing paired data and summarising all the transactions in a block by producing a digital fingerprint of the entire set of transactions.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 h…
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