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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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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…
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User Issued Assets (UIAs)
User Issued Assets (UIAs) on Cardano refer to custom tokens created by users on the Cardano blockchain, alongside the native ADA cryptocurrency. Cardano allows users to issue, transfer, and manage their own assets without needing smart contracts, which is unique compared to other blockchains like Ethereum. Here’s how UIAs work on Cardano: The Foundation: Cardano’s…
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Composability
Composability on Cardano refers to the ability of decentralized applications (dApps) and smart contracts to interact with and build upon one another in a modular, reusable, and scalable way. This concept is crucial in blockchain ecosystems because it allows developers to create new functionalities or services by combining existing components rather than building everything from…
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Domain-Specific Language (DSL)
A Domain-Specific Language (DSL) is a specialized programming language designed to solve problems or tasks within a specific domain or industry. Unlike general-purpose programming languages (like Python, Java, or C++), which are used for a wide range of applications, a DSL is tailored to a particular use case or environment, making it more efficient and…
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What’s the difference between UTxOs and eUTxOs?
The UTxO (Unspent Transaction Output) model and eUTxO (Extended Unspent Transaction Output) model are two different blockchain architectures used to manage how transactions are recorded and validated on a blockchain. Cardano introduced the eUTxO model as an evolution of the traditional UTxO model used by Bitcoin. Let’s explore the differences and how the eUTXO model…
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How is the performance of a blockchain measured?
The performance of a blockchain is measured using several key metrics and factors that assess its efficiency, scalability, security, and overall functionality. These metrics help determine how well the blockchain can handle transactions, secure data, and support decentralized applications (dApps). Here are the most common ways to measure the performance of a blockchain: 1. Transaction…
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Hard Fork Combinator (HFC)
The Hard Fork Combinator (HFC) is a unique innovation in Cardano that allows the blockchain to undergo upgrades and implement protocol changes seamlessly without disrupting the network’s continuity. It was introduced by IOHK (now IOG), the development team behind Cardano, as a way to combine different protocol versions in a single chain, avoiding the typical…
