(Advanced) Glossary

  • Byzantine fault tolerance: maximum percentage of dishonest participants that an algorithm can handle while still finding the true version of a shared ledger.

  • Digital signature: a digital code which is attached to an electronically transmitted document to verify its contents and the sender’s identity.

  • Double Spending: a double spend is an attack where the given set of coins is spent in more than one transaction. There are a couple main ways to perform a double spend: Send two conflicting transactions in rapid succession into the Bitcoin network. This is called “race attack”.

  • Hash: a cryptographic hash function is a function which takes an input (or ‘message’) and returns a fixed-size alphanumeric string. The string is called the ‘hash value’.

  • Nonce: The “nonce” in a bitcoin block is a 32-bit (4-byte) field of which the value is set so that the hash of the block contains a run of leading zeros.

  • Proof of Stake: PoS concept states that a person can mine or validate block transactions according to how many coins he or she holds. This means that the more coins owned by a miner, the more mining power he or she has.

  • Proof of work: A proof-of-work (POW) system is an economic measure to deter denial of service attacks and other service abuses such as spam on a network, by requiring some work from the service requester, usually meaning processing time by a computer.

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Blockchain in the Energy Sector

EIT InnoEnergy