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Non-Interactive Proofs of Proof-of-Stake (NIPoPoS)
Non-Interactive Proofs of Proof-of-Stake (NIPoPoS) are cryptographic protocols designed to allow a party (the prover) to demonstrate to another party (the verifier) that a certain blockchain is following a valid proof-of-stake (PoS) protocol without requiring interaction between the two parties or access to the entire blockchain history. NIPoPoS are particularly useful in situations where a…
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Multi-signature Transactions
Multi-signature transactions on Cardano are transactions that require approval from multiple parties (or signatures) to be valid and executed. This feature ensures that a specific set of conditions is met before funds can be transferred or certain actions can be taken, adding an extra layer of security and collaboration. These transactions are useful in scenarios…
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Native Scripts
Native scripts are simpler, non-Turing-complete scripting solutions on Cardano. They are used primarily for multi-signature transactions and simple, pre-defined logic that does not require complex computation. Native scripts are processed directly by the Cardano ledger and have limited functionality compared to Plutus scripts. Key Characteristics: Example Use Cases: Example: A simple native script could require…
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Plutus Scripts
Plutus scripts are more powerful and flexible, allowing for Turing-complete smart contracts on the Cardano blockchain. They are based on the Plutus platform, which uses Haskell, a functional programming language. Plutus scripts enable more complex logic and programmability compared to native scripts. Key Characteristics: Use Cases: Example Use Case: A Plutus script could define a…
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Blockchain Explorers
Blockchain explorers are websites or online tools that provide detailed information about the activities and transactions happening on a blockchain. These platforms allow users to search, view, and analyze blockchain data in a transparent and accessible way. Blockchain explorers serve as a public window into the blockchain, providing insights into blocks, transactions, addresses, smart contracts,…
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Fixed Monetary Policy
Fixed monetary policy refers to a predefined, unchangeable supply of a currency that limits the total amount that can ever be created. Once the maximum supply is reached, no additional units of the currency can be issued, ensuring that the total supply remains fixed permanently. This approach contrasts with traditional fiat currencies, where central banks…
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KMZ Sidechains
KMZ Sidechains refer to a specific sidechain design proposed for the Cardano blockchain. The name “KMZ” comes from the authors of the research paper that describes them: Kiayias, Miller, and Zindros. The goal of KMZ sidechains is to enable secure and scalable communication between the main blockchain (like Cardano) and sidechains, which are independent blockchains…
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Turing-complete Programming Language
A Turing-complete programming language is a type of computational system that can simulate any algorithm or computation, given enough time and memory. In other words, if a programming language is Turing-complete, it means that it can solve any problem that a Turing machine (a theoretical model of computation invented by Alan Turing) can solve, provided…
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Two-layer Architecture (Blockchain)
The two-layer architecture in blockchain refers to the design where different functions of the blockchain are separated into two distinct layers. In Cardano, this architecture consists of: This division allows Cardano to optimize the performance and flexibility of the blockchain for various use cases. Here’s a breakdown of each layer using Cardano as the example:…
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Stake Pool Operator (SPO)
A Stake Pool Operator (SPO) on Cardano is an individual or organization responsible for maintaining and operating a stake pool, which is a network node that validates transactions and secures the blockchain. Stake pool operators play a crucial role in the Cardano ecosystem by managing these nodes, which contribute to the decentralization and stability of…
