Blockchain Buzzwords: Common Blockchain Definitions
Accord Project – A non-profit, collaborative initiative for developing an ecosystem and open source tool for “smart legal contracts.”
Hash (of a block in blockchain) – The hash of a block is a unique identifier for the block attained by performing a cryptographic function on the header of the block. A block stores the hash for the previous block to form a link between the two blocks.
Internet of Things (“IoT”) – Real world physical objects with embedded sensors, software, and other technologies that are used for the purpose of connecting and exchanging data with other devices and systems that are linked to the internet.
Supply Chain Traceability – The ability to track the movement of a product forward through the supply chain from raw material to finished good and backward from finished good to raw material.
Validating a Block (or Validating a Transaction) – The act of verifying that data in a block comports with the rules of the blockchain.