Byzantine faultA Byzantine fault (also Byzantine generals problem, interactive consistency, source congruency, error avalanche, Byzantine agreement problem, and Byzantine failure) is a condition of a computer system, particularly distributed computing systems, where components may fail and there is imperfect information on whether a component has failed. The term takes its name from an allegory, the "Byzantine generals problem", developed to describe a situation in which, to avoid catastrophic failure of the system, the system's actors must agree on a concerted strategy, but some of these actors are unreliable.
Byzantine EmpireThe Byzantine Empire, also referred to as the Eastern Roman Empire, was the continuation of the Roman Empire primarily in its eastern provinces during Late Antiquity and the Middle Ages, when its capital city was Constantinople. It survived the fall of the Western Roman Empire in the 5th century AD and continued to exist until the fall of Constantinople to the Ottoman Empire in 1453. During most of its existence, the empire remained the most powerful economic, cultural, and military force in the Mediterranean world.
Decentralized applicationA decentralised application (DApp, dApp, Dapp, or dapp) is an application that can operate autonomously, typically through the use of smart contracts, that run on a decentralized computing, blockchain or other distributed ledger system. Like traditional applications, DApps provide some function or utility to its users. However, unlike traditional applications, DApps operate without human intervention and are not owned by any one entity, rather DApps distribute tokens that represent ownership.
Smart contractA smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions. Smart contracts are commonly associated with cryptocurrencies, and the smart contracts introduced by Ethereum are generally considered a fundamental building block for decentralized finance (DeFi) and NFT applications.
Decentralized autonomous organizationA decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization managed in whole or in part by decentralized computer program, with voting and finances handled through a blockchain. In general terms, DAOs are member-owned communities without centralized leadership. The precise legal status of this type of business organization is unclear. A well-known example, intended for venture capital funding, was The DAO, which amassed 3.
BlockchainA blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it.
AlgorithmIn mathematics and computer science, an algorithm (ˈælɡərɪðəm) is a finite sequence of rigorous instructions, typically used to solve a class of specific problems or to perform a computation. Algorithms are used as specifications for performing calculations and data processing. More advanced algorithms can use conditionals to divert the code execution through various routes (referred to as automated decision-making) and deduce valid inferences (referred to as automated reasoning), achieving automation eventually.
Trusted timestampingTrusted timestamping is the process of securely keeping track of the creation and modification time of a document. Security here means that no one—not even the owner of the document—should be able to change it once it has been recorded provided that the timestamper's integrity is never compromised. The administrative aspect involves setting up a publicly available, trusted timestamp management infrastructure to collect, process and renew timestamps. The idea of timestamping information is centuries old.
AlgorandAlgorand is a cryptocurrency protocol providing proof-of-stake on a blockchain. Algorand's native cryptocurrency is called ALGO. Algorand was founded in 2017 by Silvio Micali, a professor at MIT. The Algorand test network was launched to the public in April 2019, and the main network was launched in June 2019. Algorand has a negligible energy consumption per transaction. Algorand is composed of the company Algorand, a private corporation based in Boston, and the nonprofit Algorand Foundation Ltd.
Byzantine silkByzantine silk is silk woven in the Byzantine Empire (Byzantium) from about the fourth century until the Fall of Constantinople in 1453. The Byzantine capital of Constantinople was the first significant silk-weaving center in Europe. Silk was one of the most important commodities in the Byzantine economy, used by the state both as a means of payment and of diplomacy. Raw silk was bought from China and made up into fine fabrics that commanded high prices throughout the world.
