Glossary
From Chainlink Community Wiki
Aggregation
API
Blockchains
A blockchain is a highly secure and decentralized network that allows people to store data, exchange value, and record transaction activity in a shared ledger that is not controlled by any central authority.[1]
Bridging assets
REVISE To transfer assets from Ethereum to BNB Chain you will need to interact with the Binance Bridge. This is a contract that will take custody of your assets on the Ethereum side and, after a bit of a delay, create a version of that asset on the Binance side.
You might think about this as a little like using tokens in an arcade. You give the arcade employee (bridge contract) your money (ETH) and in turn, they create tokens (ETH BEP-20, A BEP-20 version of ETH) to use within the arcade (BNB Chain). From there you can use the tokens (ETH BEP-20) while you are in the arcade. If you would like to leave you can give your tokens (ETH BEP-20) back to the employee (bridge contract) and they will destroy or burn the tokens (ETH BEP-20). Then they’ll give you back the money (ETH) for the tokens (ETH BEP-20). [2]
Centalized
Centralized Exchanges- CEX
Cryptocurrency
DAO
DECO
Decentalized
DeFi - Decentalized finance
Decentralized Exchanges- DEX
Deviation threshold
A new data aggregation round starts when a Chainlink node identifies that an off-chain data value deviates by more than the defined deviation threshold from its on-chain value.
DLT
DONs
Each DON is customizable, empowering users to pick specific node operators and data sources, the level of decentralization, the type of computation performed, the update frequency, the blockchain it’s deployed on, and various other optimizations that align with the user’s own budget, performance requirements, privacy needs, and trust assumptions.
https://blog.chain.link/chainlink-enterprise-blockchain-middleware/
Dynamic NFTs (dNFTs)
A dynamic NFT is an NFT that can change based on external conditions. Change in a dynamic NFT often refers to changes in the NFT’s metadata triggered by a smart contract. [3] DNFTs can also be described as perpetual smart contracts that use oracles to communicate with and react to external data and systems.
https://blog.chain.link/create-dynamic-nfts-using-chainlink-oracles/
ERC20
https://ethereum.org/en/developers/docs/standards/tokens/erc-20/
ERC677
https://wiki.dextrac.com/index.php/The_Link_token#ERC677
EVM
External adapter
Fair Sequencing Service (FSS)
Fungible assets
Heartbeat threshold
A new data aggregation round starts after a specified amount of time from the last update. If the deviation threshold is not reached within the time of the heartbeat, the feed will be updated.
Heterogeneous network
https://blog.chain.link/how-chainlink-supports-any-off-chain-data-resource-and-computation/
Hybrid smart contracts
Hybrid Smart Contracts describe smart contracts which perform computations both on-chain and off-chain, resulting in the creation of decentralized applications that are more advanced than on-chain logic in isolation.[4] https://blog.chain.link/hybrid-smart-contracts-explained/
Layer 0
‘A communication protocol, enabling smart contract execution across multiple chains, with one transaction from any one source chain enabling cross-chain functionality for dApps and (native) token bridging’. Looking for citation.
Layer 1
Layer 2
Mainnet
Middleware
MEV - Miner Extractable Value
https://blog.chain.link/what-is-miner-extractable-value-mev/
Multisignature wallets/address - Multisig
A type of smart contract that requires two or more parties to sign off on a transaction.[5]
NFT
NFTs (Non Fungible Tokens) are unique digital objects that exist on a blockchain. Every NFT can be differentiated from another through a 1-of-1 tokenID and its unique contract address. From there, metadata such as images, video files, or other data can be attached, meaning that it’s possible to own a token that represents a unique digital object.[3] In its most bare-bones form, an NFT is simply a transferable token that has a unique tokenID.
Node
Non-fungible assets
Off-Chain
Off-chain refers to transactions that happen outside of a blockchain. Off-chain transactions are characterized by zero to low costs and are gaining significant popularity among blockchain developers.
On-Chain
On-chain refers to transactions that occur on or within any given blockchain.
Open source
Oracle
For more information on Oracles
Oracle contract
The on-chain component of an Oracle. The Oracle Contract is the interface through which Consuming Contracts pass and receive data with off-chain resources.
Oracle node
The off-chain component of an Oracle.
Parachain
Parametric
Parametric insurance
Proof of stake (PoS)
Proof of work (PoW)
RPC endpoints
Service level agreements (SLAs)
Sharding
Smart contracts
Smart contracts are tamper-proof programs on blockchains that facilitate automatic transactions by using conditional software logic such as, “if x is true, then execute y.[1]
Sybil-resistant
Testnet
Town Crier
TVL (Total value locked)
TVS (Total value secured)
TWAP - Time-Weighted Average Price
The measure of an asset's average price over a predetermined period of time.
VWAP - Volume-Weighted Average Price
A technical analysis tool that shows the ratio of an asset's price to its total trade volume.
Web3
Wrapped tokens
Zero knowledge proofs
A zero-knowledge proof is a cryptographic method that allows one party to prove that a given statement is true without revealing the underlying information. For in depth information read the following article HERE.
- ↑ 1.0 1.1 https://chain.link/education/web3
- ↑ https://blog.chain.link/how-to-create-a-bep-20-token/
- ↑ 3.0 3.1 https://blog.chain.link/what-is-a-dynamic-nft/
- ↑ https://www.smartcontractresearch.org/t/research-summary-chainlink-2-0-next-steps-in-the-evolution-of-decentralized-oracle-networks/300
- ↑ https://bitcoinmagazine.com/culture/cornell-ic3-researchers-propose-solution-bitcoins-multisig-paralysis-problem