Glossary

A
Anonymity
A condition of remaining unknown.
Aphelion
The name of the consensus protocol of Libonomy Blockchain that is based on artificial intelligence and uses multiple machine learning algorithms to justly distribute resources among the network. Learn more about Aphelion
Application Layer
The Application Layer is built on top of Libonomy blockchain’s core, that helps to create decentralized applications and carry out their transactions.
Application Programming Interface (API)
API is designed for users to exchange data directly on the blockchain.
Artificial Intelligence (AI)
Artificial intelligence is a computer sciences technology that highlights the development of intelligent machines.
Auction Market/Sites
Platforms on which items are sold and the prices are determined by the winning bid.
Audit Pool
A part of the Libonomy pooling system which is responsible for inspecting all nodes that have joined the network.
Autonomous
The quality of blockchain to act independently, to have the power to self-govern.
B
Back-end operation
A way for developers to link the main software application with a cloud-based storage, for only the developers to utilize, monitor and to run the application smoothly.
Bitcoin
Bitcoin is the first decentralized cryptocurrency and open-source software that runs on a global peer-to-peer network.
Blockchain
Blockchain is decentralized, distributed ledger technology that records the provenance of a digital asset.
C
Car Odometer
A measurement instrument used to measure the distance traveled by a vehicle.
Central Server
Servers that are used by clients to process license management and perform client management requests.
Centralization
A network where a central authority is governing and running the network.
Computing Power
Amount of useful work completed by a computer in a specific time window.
Configuring
A manner in which components are arranged to make up the system, in our case - AI system.
Consensus
Through consensus all peers in a blockchain network reach an agreement about data values or data state of distributed ledger.
Cosmos
Cosmos is a scalable decentralized network that provides infrastructure supporting interoperability between existing blockchains and opportunities for creating new blockchains.
Cross-chain / Cross-blockchain Trade
It is the state of interoperability between two independent blockchains.
Cryptocurrency / Crypto Token
A digital currency which represents an asset or utility on blockchain, it is protected by cryptography.
D
Decentralized
A process where decision-making power and activities of the blockchain are in control of the users and have no central authority to run them.
Decentralized Applications (DAPPs)
DAPPs are digital applications or programs that run on blockchain, they are outside of a single authority control.
Decentralized Exchange (DEX)
DEX is a cryptocurrency exchange which operates without a central authority, directly user to user.
Decentralized Finance (DeFi)
A permissionless, interlocking and open financial system. DeFi is a network of dApps and smart contracts to provide programmable financial applications that can be used for digital asset exchange, borrowing, lending, trading etc.
Distributed Database
Data being located on different nodes of a blockchain network.
Downtime
The time during which a computer is not available for use.
E
Encrypted
A set of data that is converted into a code to prevent unauthorized access.
Enterprise Resource Planning (ERP)
ERP are software applications which are used by businesses to help them manage all business processes.
Escrow
An arrangement between two parties by providing services like holding funds in cold storage, and are kept secure until all of the terms of a transaction are met between two parties.
Ethereum
Blockchain application that uses a built-in programming language, which allows users to build decentralized ledgers modified to their own needs.
Exploit-Finding (EF) Pool
One of the Libonomy blockchain’s pooling systems that run security checks on nodes on the network to look for vulnerabilities that can exploit the blockchain and block them from actively participating in the network.
F
File Storage
A hierarchical storage-based technology that helps in organizing the recorded data on blockchain.
G
GitHub
GitHub is a code hosting platform for version control and collaboration. It lets you and others work together on projects from anywhere.
H
Hybrid Blockchain
A combination of public and private blockchain.
I
Immutability
Data recorded on a blockchain can’t be altered.
Initial Coin Offering (ICO)
Private or public fundraising using cryptocurrencies.
Initial Exchange Offering (IEO)
IEO is operated by crypto exchange to raise funds with its newly issued tokens for a startup.
Initial Public Offering (IPO)
IPO is an online public offering on which shares of a company are sold to investors.
Intermediate
A person, group or even a platform that comes in between two nodes, users in blockchain.
Interoperable
Blockchain interoperability is the ability to share data across different blockchain networks without any restrictions.
K
Know Your Customer (KYC)
Know your Customer is a method verifying customer identities.
L
Libocoin (LBY)
LBY is the main asset of Libonomy blockchain, it will be used within all Libonomy blockchain’s activities.
Libonomy
A next-generation blockchain that has a consensus engine based on Artificial Intelligence and has interoperable functionalities.
Light Node
The highest level of classification of nodes in the power pool with high performance as classified by the classification agent.
Liquidity
A way for the asset to easily convert into ready cash without affecting the price.
M
Mainnet
A blockchain protocol when it is fully developed and deployed, transactions are being broadcasted, verified, and recorded on a distributed ledger technology.
Maintenance Pool
Maintenance nodes are back-up nodes reserved in the maintenance pool.
Miners
Miners verify data on a blockchain and they receive a reward based on their contribution.
N
Network
A collection of devices that are connected to each other to share and transfer data.
Nodes
Nodes in blockchain terms are electronic devices that are attached through a network to send and receive data.
Notary
An authorized person who has the power to carry certain legal formalities, like draw certificates, deeds and other legal documents to be used in a jurisdiction.
O
One-Click Business
A technique of simplifying services for customers.
One-Click Smart Contracts
Turning a complex sequence of smart contract interactions just into a one-click transaction. Only one click will make a system to generate smart contracts according to your will.
P
Patent Library
Library of legal documents about exclusive rights to inventions.
Power Pool
The power pool is the main pool where transactions are verified and validated.
Privacy
The practice of protecting personal information that has been stored on a network.
Private Solution / Blockchain
A decentralized, distributed and invitation-only network which is governed by a single entity which gives permission to participants to access the network.
Proof of Existence (PoE)
PoE is a utility built into a blockchain that allows anyone to store records in an immutable fashion.
Proof of Ownership
A method that uses blockchain to track the different owners of a certain information over the time.
Proof of Work (POW)
A type of blockchain consensus mechanism that allows the addition of a new block to the chain through competing and solving hash algorithms.
Public Solution / Blockchain
A public blockchain is a decentralized, distributed and open network that allows free access without any permission.
R
Realtime
The time in which input data is processed within milliseconds so that it is immediately available for feedback.
Resilient
The quality of withstanding or recovering from a situation quickly.
Reward
Cryptocurrencies that are awarded by the blockchain network to the cryptocurrency miners for their contribution in the network.
S
Scalable
Ability to increase and improve the size and speed of data processing.
Security
The practice of being protected from any hack, theft or malicious activity that can attack the network of blockchain and make it vulnerable to exploit the information.
Security Token Offering
STO are crypto exchanges on which tokenized digital securities are sold.
Silos
Silos is a collection of data managed by one group that is not easily or fully accessible by other groups. Libonomy blockchain is the solution to fix silo gaps.
Smart Contract
A digital contract that automatically executes, controls and documents all the events according to the agreement.
Software Development Kit (SDK)
A collection of software development tools in one installable package that facilitates the creation of applications.
Stable
The quality of staying balanced and steady.
Supply Chain Management
The flow of goods and services including the process of product from raw material to the final product.
Susceptible
Vulnerable to hacking, thefts and malicious activities.
T
Tamper-proof
Secure from any data altering by unauthorized access.
Testnet
A blockchain mainly used for testing purposes. Coins that are defined in testnet have no real value.
Third-Party Platform
The online platform owned and maintained by a third party.
Throughput
The rate at which a message is delivered successfully over a communication channel.
Traceability
The quality to find or follow the course of development and origin of the data in the blockchain.
Transactions Per Second (TPS)
TPS refers to the number of transactions that a network is capable of processing each second.
Transferring
The movement of data or assets from one node to another on a blockchain network.
Transparent
The operation of anything in a way that is visible and open to everyone.
U
Users
The individuals who are using the blockchain for any communication or transaction purposes.
Utility Contracts
A contract for the agreement of use of energy using blockchain.
V
Versatility
The ability to be adaptable or adapted in many different fields and activities.
Virtual Machine
In a blockchain, the virtual machine (VM) has the capacity to abstract an entire network and make it work as a single supercomputer.
W
White Paper
A genuine marketing proposal used to inform possible customers to learn more or use the service or technology. It should cover the dimensions of a problem, the solution, how the project works to create a solution, the team, and the deployment plan.
Y
Yellow Paper
A more technical version of the white paper, it presents the scientific details of the technology in a very concise way.