State channels are a technique used in blockchain systems to allow two or more parties to carry out multiple transactions without needing to record each one on the blockchain. Instead, the parties communicate directly and only add the final result to the blockchain. This reduces costs and avoids delays caused by waiting for blockchain confirmations….
Byzantine Fault Tolerance is a property of computer systems that allows them to keep working correctly even if some parts fail or act unpredictably, including being malicious or sending incorrect information. It is particularly important in distributed systems, where multiple computers or nodes must agree on a decision even if some are unreliable. The term…
A fiat on-ramp is a service or platform that allows people to exchange traditional money, like pounds or euros, for digital assets such as cryptocurrencies. A fiat off-ramp does the opposite, enabling users to convert digital assets back into traditional money. These systems are essential for making digital assets accessible to everyday users and for…
Stablecoin collateralisation refers to the process of backing a digital currency, known as a stablecoin, with assets that help maintain its value. These assets can include traditional money, cryptocurrencies, or other valuable items. The goal is to keep the stablecoin’s price steady, usually linked to a currency like the US dollar or the euro. This…
NFT royalties are payments set up so that the original creator of a digital asset, like artwork or music, receives a percentage each time the NFT is resold. These royalties are coded into the NFT’s smart contract, which automatically sends the agreed percentage to the creator whenever a sale happens on compatible marketplaces. This system…
Soulbound Tokens (SBTs) are a type of digital token that cannot be transferred from one person to another once they are issued. Unlike typical cryptocurrencies or NFTs, SBTs are designed to represent personal achievements, credentials, or memberships that are unique to an individual. They are stored in a digital wallet and function as a permanent…
Decentralised Identity (DID) is a way for people or organisations to control their digital identity without relying on a central authority like a government or a big company. With DIDs, users create and manage their own identifiers, which are stored on a blockchain or similar distributed network. This approach gives individuals more privacy and control…
A digital signature is a secure electronic method used to verify the authenticity of a digital message or document. It proves that the sender is who they claim to be and that the content has not been altered since it was signed. Digital signatures rely on mathematical techniques and encryption to create a unique code…
Chainlink VRF, or Verifiable Random Function, is a blockchain technology that provides provably fair and tamper-proof random numbers. It is often used in smart contracts that require trusted random outcomes, such as games or lotteries. By using Chainlink VRF, developers can ensure that the random numbers used in their applications are both secure and verifiable…
Oracles are services or systems that provide external data to blockchain networks or smart contracts. Because blockchains cannot directly access information outside their own network, oracles act as bridges to bring in data like prices, weather, or event outcomes. This allows smart contracts to react to real-world events automatically and securely.