Glossary
- Name
Active Validator- Description
A validator that actively participates in securing the network by validating transactions and proposing new blocks.
- Name
Address- Description
A unique identifier for a wallet or contract on the VEMP Horizon network, used to send and receive VEMP and other tokens.
- Name
Block- Description
A collection of transactions that are processed and confirmed together on the VEMP Horizon blockchain.
- Name
Consensus Mechanism- Description
The protocol by which the network agrees on the state of the blockchain, ensuring all participants have a unified view.
- Name
DApp (Decentralized Application)- Description
An application that runs on a blockchain network, utilizing smart contracts to operate without centralized control.
- Name
EVM (Ethereum Virtual Machine)- Description
A runtime environment for smart contracts in Ethereum and compatible blockchains like VEMP Horizon, enabling them to execute decentralized code.
- Name
Faucet- Description
A service that provides free tokens for users to test and interact with the blockchain.
- Name
Gas- Description
The fee required to execute a transaction or smart contract on the VEMP Horizon network, paid in VEMP.
- Name
Genesis Block- Description
The first block in the blockchain, serving as the foundation for all subsequent blocks.
- Name
Hash- Description
A fixed-length alphanumeric string generated by a hash function, used to uniquely identify data such as blocks and transactions.
- Name
Node- Description
A computer that participates in the VEMP Horizon network by maintaining a copy of the blockchain and validating transactions.
- Name
Private Key- Description
A secret key used to sign transactions and access funds in a cryptocurrency wallet, which should be kept secure.
- Name
Proof of Stake (PoS)- Description
A consensus mechanism where validators are chosen based on the amount of cryptocurrency they hold and are willing to "stake" as collateral.
- Name
Public Key- Description
A cryptographic key that can be shared publicly and is used to receive funds in a cryptocurrency wallet.
- Name
Smart Contract- Description
A self-executing contract with the terms of the agreement directly written into code, running on the blockchain.
- Name
Token- Description
A digital asset issued on a blockchain, which can represent ownership, utility, or other value.
- Name
Validator- Description
A participant in the network responsible for validating transactions and maintaining the blockchain.
- Name
Wallet- Description
A software application or hardware device that stores private and public keys, enabling users to send, receive, and manage their cryptocurrency.