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Glossary

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Fee

Olga Hryniuk
The amount of ada charged for processing a transaction on Cardano.
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Fee market

Ivan Irakoze
Cardano's fee strategy is based primarily on market demand rather than the actual supply. Research continues to be done on how Cardano can evolve to offer a fair structure of fee tiers that provides the best balance between managing demand and maintaining reasonable costs. Ultimately, the Cardano community will vote on whether or not to implement this tiered...
1 up votes and 0 down votes. Total score

Fiat currency

Olga Hryniuk
A medium of exchange in the form of coins and banknotes issued by central banks. The US dollar, British pound, and Japanese yen are all fiat money.
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Finality

Olga Hryniuk
The point in time when the result of a transaction becomes immutable and true for everyone on the blockchain.
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Flash loan

Vcoincheck.io
A type of cryptocurrency loan that allows borrowers to borrow funds without providing any collateral or undergoing a credit check. Flash loans are typically offered through decentralized finance (DeFi) platforms and are executed using smart contracts on a blockchain. The loan is approved and disbursed almost instantly, and the borrower is required to repay t...
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Formal verification

Olga Hryniuk
The process of checking whether system design and the underlying algorithms are correct and satisfy the given requirements and properties. It is based on the formal methods of mathematics and is an integral part of IOG research. The core parts of Cardano are written in Haskell.
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Franken address

Vcoincheck.io
Also known as a mangled-address, is a Cardano payment address that contains payment part and staking parts of different wallets/private-keys. This is made possible due to the unique design of addresses on Cardano. A Franken address allows users to separate their staking rewards into a separate wallet. Some application developers can leverage delegation righ...
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Fungible token

Olga Hryniuk
A token that is identical to many others and can be traded is fungible. For example, one ada is the same as all others and so is fungible. Shares in a company, gold bars, and US dollars, for example, are all fungible. Cryptos are usually fungible, but there are also unique, non-fungible tokens (NFTs).
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Game theory

Olga Hryniuk
The study of logical decision-making made by players within the defined parameters of a system. Game theory provides mathematical frameworks for predicting interactions between people in a system, where they are all looking out for their best interests. Cardano uses game theory to help avoid economic attacks on the network.
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GameFi

Vcoincheck.io
Short for 'Game Finance', GameFi refers to the integration of blockchain technology and decentralized finance (DeFi) with gaming. GameFi combines the principles of cryptocurrency and blockchain with gaming, creating a new type of gaming experience that allows players to earn real-world value from their gaming activities. In GameFi, players can earn digital ...
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Gas

Vcoincheck.io
The fee required to execute a transaction or contract on the proof-of-work network. On Ethereum, for example, gas is paid in ether, the native cryptocurrency of Ethereum. Gas fee is determined by the network's demand and supply, and is paid to incentivize miners to process and validate transactions. Gas fees are essential to the network's efficiency and secu...
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Genesis block

Vcoincheck.io
The first block in a blockchain that sets the foundation for the network. It is usually created by the network's creator and contains unique data defining the initial state of the blockchain. Unlike other blocks, a genesis block doesn't reference any previous blocks and generates the initial supply of cryptocurrency or tokens. In Cardano, the genesis block w...
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Global state

Ivan Irakoze
A set of data that is mutable through node operations on a ledger. For example, with every transaction of an asset the database entry regarding who owns the asset changes.
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Goguen

Olga Hryniuk
The third phase of Cardano development that brought smart contract support.
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Governance

Olga Hryniuk
There is no single decision-maker controlling Cardano's growth and development. Instead, decentralized processes empower ada holders to make suggestions and collaborate on decisions. All ada holders can suggest a change through the Cardano improvement proposal (CIP) system, or participate in Project Catalyst to vote on what changes should be made.
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Hard fork

Olga Hryniuk
An irreversible change to a blockchain protocol. Cardano uses a hard fork combinator to ensure smooth upgrades. Unlike earlier blockchains, Cardano hard forks save the chain history and do not cause disruption for users.
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Hardware wallet

Olga Hryniuk
A device that stores cryptocurrencies offline and can be connected to a computer to access the funds. Hardware wallets are secure and beneficial in terms of offline security and convenience as they can be carried around and used when needed.
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Hash rate

Vcoincheck.io
Hash rate refers to the measurement of the processing power of a blockchain network, particularly in the context of proof of work (PoW) consensus algorithms. It measures the number of hash operations that a network can perform in a second. In a PoW, miners use specialized hardware to perform complex mathematical calculations, known as hash functions, to val...
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Haskell

Olga Hryniuk
A functional programming language with a focus on producing secure code.  Haskell is well suited to Cardano's high-assurance code, and the need for greater formal verification in the blockchain. Core parts of Cardano are written in Haskell and extensive testing processes ensure Plutus Core smart contracts work properly.
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Height battles

Vcoincheck.io
In the context of the Cardano network, when nodes receive two valid blocks for a single slot, nodes will select the block with the higher slot number and orphan the other. The reason for this is that the SPOs do not propagate the block within the appropriate timeframe. To completely avoid blocks from getting orphaned in height battles, it is crucial for the...
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