Glossary

Protocol

A protocol refers to pre-established "rules" or "agreements" for communication between computers when exchanging information. These rules typically include procedures for error handling, authentication, and address-related details. Thanks to these protocols, the global internet can connect freely.

Protocols on a blockchain enable nodes from for each network, such as Bitcoin or Ethereum, to be connected, and the rules that nodes must follow are often about agreeing on transactions or mining rewards.

• node: A node is any individual server that participates in a transaction without storing transaction records on a centralised server, and the network is maintained and managed by a collection of individual servers.

Oracle

Oracles act as a bridge to import external data into the blockchain and export data from the blockchain. For example, Oracle technology is required to link information on real assets such as real estate prices and transaction volumes to the blockchain in real time.

dApp (dApp; Decentralized Application)

The main difference between dApps and regular apps is whether they are based on a centralized network or a decentralized blockchain network. While apps are based on Android or iOS operating systems, dApps are decentralized applications that run on blockchain networks such as Ethereum, EOS, and Tron. In addition, while traditional apps store and operate their databases on a central server, dApps do not have a central server, and the information is held by numerous nodes participating in the blockchain network.

Typical examples of DApps include decentralized exchanges called DEXs (Decentralized Exchanges), Defi (DeFi), DAOs, and NFT marketplaces.

Smart Contract

It is a program based on blockchain technology that automatically executes a contract when the programmed contract conditions are met. It can be used for a variety of contracts, including financial transactions as well as real estate contracts.

DAO (Decentralized Autonomous Organization)

A DAO is a decentralized autonomous organization that operates based on blockchain technology. A large number of members with a common purpose, without representatives, come together on the blockchain and operate under certain rules, making decisions through voting and proposals on a given agenda. It's a lot like a cooperative, but DAOs have a few key differences.

First, tokens are issued for decision-making within the DAO, and holders of those tokens can vote, and also receive tokens as rewards for voting and making decisions. The internal rules of the DAO can be implemented as smart contracts to create a transparent and fair decision-making environment.

Staking

Staking is the practice of depositing a portion of one's crypto holdings into a blockchain network in exchange for rewards, which is similar to depositing money in a bank and earning interest. In this case, depositors can have decision-making rights (voting rights) in proportion to the amount of crypto assets they have deposited and can participate in the operation of the blockchain network in this process. At this time, the operator of the blockchain network operates the system using the crypto assets deposited by investors and distributes the profits earned to the depositors.