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.
Consensus (computer science)A fundamental problem in distributed computing and multi-agent systems is to achieve overall system reliability in the presence of a number of faulty processes. This often requires coordinating processes to reach consensus, or agree on some data value that is needed during computation. Example applications of consensus include agreeing on what transactions to commit to a database in which order, state machine replication, and atomic broadcasts.
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.
BitcoinBitcoin (abbreviation: BTC or XBT; sign: ₿) is a decentralized digital currency. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software. The word "bitcoin" was defined in a white paper published on October 31, 2008.
Centralized computingCentralized computing is computing done at a central location, using terminals that are attached to a central computer. The computer itself may control all the peripherals directly (if they are physically connected to the central computer), or they may be attached via a terminal server. Alternatively, if the terminals have the capability, they may be able to connect to the central computer over the network. The terminals may be text terminals or thin clients, for example.
Thin clientIn computer networking, a thin client is a simple (low-performance) computer that has been optimized for establishing a remote connection with a server-based computing environment. They are sometimes known as network computers, or in their simplest form as zero clients. The server does most of the work, which can include launching software programs, performing calculations, and storing data.
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.
Digital signatureA digital signature is a mathematical scheme for verifying the authenticity of digital messages or documents. A valid digital signature on a message gives a recipient confidence that the message came from a sender known to the recipient. Digital signatures are a standard element of most cryptographic protocol suites, and are commonly used for software distribution, financial transactions, contract management software, and in other cases where it is important to detect forgery or tampering.
Electronic signatureAn electronic signature, or e-signature, is data that is logically associated with other data and which is used by the signatory to sign the associated data. This type of signature has the same legal standing as a handwritten signature as long as it adheres to the requirements of the specific regulation under which it was created (e.g., eIDAS in the European Union, NIST-DSS in the USA or ZertES in Switzerland). Electronic signatures are a legal concept distinct from digital signatures, a cryptographic mechanism often used to implement electronic signatures.
Client–server modelThe client–server model is a distributed application structure that partitions tasks or workloads between the providers of a resource or service, called servers, and service requesters, called clients. Often clients and servers communicate over a computer network on separate hardware, but both client and server may reside in the same system. A server host runs one or more server programs, which share their resources with clients. A client usually does not share any of its resources, but it requests content or service from a server.
