Glossary

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.

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).

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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. ---_

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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/

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Dynamic NFTs (dNFTs)

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/

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ERC20

https://ethereum.org/en/developers/docs/standards/tokens/erc-20/

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ERC677

https://wiki.dextrac.com/index.php/The_Link_token#ERC677

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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.

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Heterogeneous network

https://blog.chain.link/how-chainlink-supports-any-off-chain-data-resource-and-computation/

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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. https://blog.chain.link/hybrid-smart-contracts-explained/

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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.

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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.

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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.

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On-Chain

On-chain refers to transactions that occur on or within any given blockchain.

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Oracle

For more information on Oracles

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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.

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Oracle node

The off-chain component of an Oracle.

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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.

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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.

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