The BIP-39 Wordlist is a standardized list of 2048 English words used to generate mnemonic phrases (also known as seed phrases or recovery phrases) in cryptocurrency wallets. These mnemonic phrases allow users to back up and restore their wallets securely by providing an easily readable sequence of words instead of a complex cryptographic key. The…

The Min Pool Cost on Cardano refers to the minimum fixed fee that a stake pool operator (SPO) can charge from the rewards they earn in each epoch. This fee is deducted from the total rewards before they are distributed to the delegators who have staked their ADA to that pool. The purpose of the…

Stake Distribution Snapshots on Cardano refer to periodic records of how much ADA is delegated to various stake pools at specific points in time. These snapshots are critical for the Proof-of-Stake (PoS) consensus mechanism and determine which stake pools are eligible to produce blocks and earn rewards during the next epoch. An epoch in Cardano…

Ranking blocks on Cardano refer to a part of the Ouroboros Proof-of-Stake (PoS) consensus mechanism, where blocks produced by elected leaders are ranked according to certain criteria to ensure proper block selection and chain growth. Ranking helps determine which blocks are considered valid and included in the blockchain, ensuring that the chain grows securely and…

Lossless and Lossy Compression in the context of data compression refers to different methods of reducing the size of data. While these techniques are commonly used in digital storage and communication, they are also relevant to blockchain systems like Cardano when optimizing data storage and network efficiency. Let’s break down the two types of compression…

Big-O Notation is a way of describing how the performance (time or space) of an algorithm scales as the size of the input data increases. It tells us how quickly the run-time or memory usage grows as the input size gets larger. Big-O notation focuses on the worst-case scenario to give us an upper bound…

The Nakamoto Coefficient is a metric used to measure the decentralization of a blockchain or distributed system. It represents the minimum number of entities (such as validators, miners, or nodes) required to disrupt the network’s consensus, effectively gaining control or halting the system. The higher the Nakamoto Coefficient, the more decentralized and secure the system…

Cardano’s block structure refers to the organization and format of data within a block in the Cardano blockchain. Each block contains several key components, including transaction data, metadata, and cryptographic proofs, which collectively enable the secure and verifiable operation of the blockchain. Cardano’s block structure is designed to be efficient and scalable, leveraging its Ouroboros…

Block producers in Cardano are entities responsible for creating and validating new blocks on the Cardano blockchain. They play a crucial role in the network’s security and functionality by processing transactions and adding them to the blockchain. Key Points about Block Producers in Cardano: How Block Production Works in Cardano: In summary, block producers (stake…