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# Glossary

# A

# Account

An account is a cryptographically connected (opens new window) pair of public and private keys on the blockchain. Accounts uniquely correlate transactions and orders with their senders.

# Account data storage

An account data storage is the store of data records in the key-value format associated with the account. Each account has single data storage. The size of the account data storage is unlimited.

# Account script

An account script is a Ride script that has the following directives:

{-# CONTENT_TYPE EXPRESSION #-}
{-# SCRIPT_TYPE ACCOUNT #-}

The account script is attached to the account using the set script transaction. Only one script can be attached to an account. An account with an account script attached is called a smart account.

# Address

An address is a unique account identifier. The address can be represented as an alphanumeric string.

# Airdrop

An airdrop is a simultaneous sending of tokens to multiple addresses. As a rule, the airdrop is used as an incentive for holders of a certain token as part of a marketing campaign to promote a project, increase its recognition, and attract investors.

# Alias

An alias is a short, easy-to-remember address name. There cannot be two aliases with the same name. A single address can have multiple aliases.

# Asset

An asset is a synonym for the token.

# Asset script

An asset script is a Ride script that has the following directives:

{-# CONTENT_TYPE EXPRESSION #-}
{-# SCRIPT_TYPE ASSET #-}

The asset script is attached to the asset using the set asset script transaction. You can attach a script to an asset only at the time the asset creation. However, you can change the script later, if needed. An asset with a script attached to it is called a smart asset.

# B

# Block

A block is a unit of the blockchain chain. The block contains transactions: from 0 to 6000 inclusive. The maximum block size is 1 MB.

# Blockchain

A blockchain is a continuous sequential chain of blocks, that are linked using cryptography.

The blockchain has the height.

# Block height

A block height is a block sequence number in the blockchain.

# Blockchain height

A blockchain height is a sequence number of the last block in the blockchain.

# Blockchain network

A blockchain network is a computer network that consists of nodes.

# Block signature

A block signature is a hash that the mining node receives when it signs the generated block with the private key of the mining account.

# C

# Consensus

The consensus is a set of rules in accordance with which blockchain operates. Waves uses the LPoS consensus.

# Cryptocurrency

A cryptocurrency is a type of digital currency (opens new window), the creation and control of which is based on cryptographic methods.

# D

# dApp

A dApp is an account with the dApp script attached.

# dApp script

A dApp script is a Ride script used to create dApp. The dApp script has the following directive:

{-# CONTENT_TYPE DAPP #-}

dApp-script can be attached to the account using the set script transaction, and, as a result, the dApp will be created.

# Decentralized application

A decentralized application is an application that is stored and executed on the blockchain network.

# E

# Explorer

Explorer (or Waves Explorer) is an online service (https://wavesexplorer.com) that displays Waves blockchain data in a human-readable form.

# F

# Faucet

A test network faucet (or faucet) is a Waves Explorer tool that refills the test network accounts with the WAVES test tokens. For one recharge, the user receives 10 testnet WAVES.

# G

# Gateway

Gateway is a centralized payment solution that allows transferring cryptocurrencies from one blockchain to another and vice versa; as well as transferring fiat money to and out of the blockchain.

# Genesis block

The genesis block (or genesis) is the very first block of the blockchain. The genesis block contains one or several genesis transactions.

# Genesis transaction

Genesis transaction is a genesis block transaction that charges WAVES to an account. The genesis transactions define the initial distribution of WAVES between accounts during the creation of the blockchain.

# H

# Hash

A hash is a result of applying a hash function.

# Hash function

A hash function (or fold function) is a function that converts an array of input data of arbitrary length into a bit string of a fixed length, performed by a certain algorithm.

# K

# Keeper

Keeper (or Waves Keeper) is a web browser extension that allows users to securely interact with Waves-enabled web services.

# L

# Leasing

Leasing is a temporary reversible transfer of WAVES from one account to another to increase the stability and security of the network, as well as potentially get mining reward. Note that the WAVES tokens are not actually being transferred to another account, they remain on the sender's balance, however, they are 'frozen' and cannot participate in the buying and selling operations, as well as they cannot be sent to another account. The leased tokens provide the leasing recipient with a greater chance of mining a block. The recipient of the lease can share the income from mining with the one who leased WAVES to him. However, the Waves protocol does not regulate the payment process for LPoS mining, this remains at the discretion of the miner. At any time, the sender can 'unfreeze' tokens by invoking the Lease Cancel transaction.

# LPoS

LPoS (or Leased Proof-of-Stake) is a consensus algorithm in which the probability of generating the next block by the participant is proportional to the share of cryptocurrency belonging to this participant or leased to this participant from their total supply. In other words, the more tokens on the account of the miner (own and leased to them), the higher the probability of generating the next block.

# M

# Mainnet

The mainnet (or main network) is the main Waves blockchain network.

# Matcher

Matcher is a service that executes orders on the exchange. The matcher is developed by the third-party team from the community. For details, see the Waves.Exchange documentation (opens new window).

# Matcher fee

A matcher fee is a fee that matcher takes from both accounts that participate in the exchange of the pair of tokens.

# Miner

A miner is the owner of the mining node.

# Mining

Mining is the process of generating a block by a mining node, as a result of which a new block is added to the blockchain and WAVES tokens are issued. For block generation, miners receive a reward for mining, as well as transaction fees, according to the rules of the Waves-NG protocol.

# Mining account

A mining account is an account that the mining node uses to sign the generated blocks.

# Mining node

A mining node is a node that can perform mining. Each mining node is a validating node.

# Multisignature

Multisignature is an implementation of an electronic signature that requires the use of several private keys as a condition for transaction execution.

# N

# NFT

NFT (Non-Fungible Token) is a token with unique ID. Two 'regular' tokens can not be distinguished from each other — they are the same, i.e. fungible. Each NFT is unique; there cannot be two identical NFTs. Most often NFTs are used in games.

# Node

A node is a [host](https://en.wikipedia.org/wiki/Host_(network)) that is connected to the blockchain network using the Waves Node (opens new window) application. The node stores blocks, sends and validates transactions.

# O

# Oracle

Oracle is a provider of data from the outside world to the blockchain.

# Order

Order (or exchange order) is an instruction to buy or sell a token on the exchange.

# P

# PoS

PoS (Proof-of-Stake) is a consensus algorithm in which the probability of generating the next block is proportional to the share of cryptocurrency belonging to this participant from their total supply. In other words, the more tokens on the account of a miner, the higher the probability of generating the next block.

# PoW

PoW (Proof-of-Work) is a consensus algorithm in which it is required to perform a complex calculation in order to generate a new block. That is, the higher the performance of the miner's equipment, the higher the probability of generating the next block.

# Private key

The private key is one of a pair of account keys. The account owner signs the transaction with the private key before sending it, and, as a result, gets the digital signature of the transaction.

# Public key

The public key is one of a pair of account keys. A public key uniquely correlates a transaction with its sender. The transaction signature is checked against the public key with some function, and, if it returns true, we can be sure that the user has valid private key for this public key.

# R

# Ride

The Ride is a functional expression-based programming language. Ride is used to write scripts. The language has strong static typing (opens new window), it is case sensitive, has no loops and goto-like expressions, and therefore it is Turing-incomplete (opens new window).

# S

# Script

A script is the source code on the Ride language. There are three types of scripts: dApp script, account script, asset script.

# Secret phrase

Secret phrase (or Seed) is a set of characters (usually, it is 15 English words with spaces between them) that allows you to access your Waves address and, accordingly, the funds on your account. When registering an account, you are asked to keep your secret phrase safe.

# Smart account

A smart account is an account with an account script attached. Only one script can be attached to an account. The account script is attached to the account using the set script transaction.

# Smart asset

A smart asset is a token with an asset script attached.

# Stagenet

Stagenet (or staging network) is the Waves blockchain network, which is used for experiments, intermediate testing of new functionality, as well as providing access for the Waves community to intermediate releases. It is important to consider that this network is unstable, a frequent rollback of blockchain data to the N-th height in the past is possible.

# T

# Test network

Test network (or testnet) is a Waves blockchain test network, which is used by developers to test their products, and by users to get acquainted with the blockchain.

# Token

A token is a blockchain object that represents another object from the physical or virtual world or an abstract concept.

# Token rating

Token Rating is an online service (https://tokenrating.wavesexplorer.com) that displays the ratings of tokens (projects) issued on the Waves blockchain. The service allows users to vote for a particular token.

# Transaction

Transaction is an action on the blockchain on behalf of the account. Transactions can be sent only from the account — thus, any transaction can be correlated with a certain account.

# Transaction body bytes

Transaction body bytes normally consist of all the fields of the transaction binary format with the exception of the following fields:

  • transaction ID (it is not stored on the blockchain),
  • version flag,
  • proofs or signature, depending on the version of the transaction.

The contents of transaction body bytes is given in the description of the binary format of each type and version of the transaction.

Based on the transaction body bytes, the transaction ID and signature are generated. The guideline for generating a signature and ID is given in the Cryptographic practical details article.

# U

# UTX pool

UTX pool (or Unconfirmed Transactions pool) is a pool of unconfirmed node transactions that are waiting for validation.

# V

# Validating node

A validating node is a node that validates transactions.

# W

# WAVELET

WAVELET is 1/100 000 000 WAVES. 1 WAVELET is the minimum number of WAVES that you can work with within the Waves blockchain.

# WAVES

WAVES is the main token of the Waves blockchain. 1 WAVES equals 100,000,000 WAVELET. In April 2016, 100 million WAVES were released. WAVES cannot be burned using a burn transaction.

# WCT

WCT (or Waves Community Token) is a token used by Waves community members during voting and other activities.

Validation Rules