Decentralization
(noun): The distribution of power, authority, or control away from a central authority or entity.
Example: The blockchain technology enables the decentralization of financial transactions, removing the need for intermediaries like banks.
Digital assets
(noun): Virtual or digitized representations of tangible or intangible objects that can be owned, traded, or accessed digitally.
Example: Cryptocurrencies, such as Bitcoin and Ethereum, are examples of digital assets that can be exchanged online.
DApps (Decentralized Applications)
(noun): Applications that run on a decentralized network of computers or nodes, utilizing blockchain or other distributed ledger technologies.
Example: A decentralized social media platform where users have full control over their data and content is an example of a DApp.
DAOs (Decentralized Autonomous Organizations)
(noun): Organizations that operate through smart contracts on a blockchain, allowing decision-making and actions to be automated and executed by the network participants.
Example: A DAO can be used to manage and govern a decentralized investment fund, where token holders collectively decide on investment strategies.
Distributed ledger
(noun): A decentralized and synchronized digital record or database that is shared among multiple participants or nodes.
Example: Blockchain is a type of distributed ledger that records and verifies transactions across a network of computers.
DeFi (Decentralized Finance)
(noun): Financial systems and applications that operate on a decentralized network, often utilizing blockchain technology, providing users with more control and accessibility.
Example: DeFi platforms enable users to lend, borrow, trade, and invest in cryptocurrencies without relying on traditional financial intermediaries.
Digital identity
(noun): A digital representation of an individual or entity’s unique identifying information, used for authentication and verification purposes in online transactions.
Example: Using biometric data like fingerprints or facial recognition to access a mobile banking app is an application of digital identity.
Decentralized exchanges
(noun): Platforms or protocols that enable peer-to-peer trading of cryptocurrencies and digital assets without relying on a centralized intermediary.
Example: Uniswap and Sushiswap are examples of decentralized exchanges where users can trade cryptocurrencies directly with one another.
Double spending
(noun): A potential issue in digital currencies where the same unit of currency is spent more than once, which is prevented by the use of decentralized consensus mechanisms.
Example: Blockchain technology ensures that double spending is prevented by verifying and recording every transaction in a transparent and immutable manner.
Data privacy
(noun): The protection of personal or sensitive information from unauthorized access, use, or disclosure.
Example: Strong data privacy measures, such as encryption and secure storage, help protect users’ personal information from data breaches.
Digital signatures
(noun): Cryptographic techniques used to verify the authenticity and integrity of digital documents or transactions.
Example: A digital signature is like a unique, encrypted “stamp” attached to an electronic document to ensure it has not been tampered with and is from the intended sender.
DEX (Decentralized Exchange)
(noun): An abbreviation for decentralized exchange, which is a platform that allows users to trade cryptocurrencies directly with each other without a central authority.
Example: Instead of using a centralized exchange, I prefer using a DEX like PancakeSwap to swap my tokens.
Disintermediation
(noun): The removal or reduction of intermediaries or middlemen from a process or transaction.
Example: Blockchain technology has the potential to disintermediate traditional banking by allowing users to send money directly to each other without a bank as an intermediary.
DLT (Distributed Ledger Technology)
(noun): A general term referring to technologies and protocols that enable the storage and synchronization of data across multiple nodes or computers in a decentralized manner.
Example: Blockchain is a type of DLT that ensures transparency, security, and immutability of recorded data.
Dusting attack
(noun): A cyber attack where a small amount of cryptocurrency is sent to a large number of addresses to potentially track or deanonymize users.
Example: To protect your privacy, be cautious of dusting attacks and avoid interacting with suspicious or unknown transactions.
DLT consensus
(noun): The mechanism or process by which a distributed ledger network reaches an agreement on the validity and order of transactions.
Example: Proof-of-Work (PoW) and Proof-of-Stake (PoS) are two commonly used consensus algorithms in DLT systems.
Data integrity
(noun): The assurance that data is accurate, complete, and unaltered throughout its lifecycle.
Example: Blockchain technology provides data integrity by storing information in an immutable and transparent manner, reducing the risk of tampering or manipulation.
