Block

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A potentially impenetrable file system designed to store data on a Blockchain. For new data to be added to a blockchain, it must first be decrypted by miners and compiled to form a block to be added to the chain.

 

Block Explorer

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A Block Explorer delivers information about blocks, transactions, balances, and transaction histories through a webpage often associated with a specific blockchain.

 

Blockchain

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A blockchain is a self-affecting database that is protected from modification using encryption, serving as a digital ledger system that records transacted information in chronological order. Although primarily associated with cryptocurrency, blockchain technology is proving to be a revolutionary way to propagate and store data securely: bestowing this technology the potential to revolutionize entire industries.

 

Confirmation

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The specified number of blocks added following the publishing of a particular transaction onto a network's blockchain. The threshold or number of blocks deep for a transaction to be considered confirmed may depend on the transaction medium (such as an exchange). Typically Bitcoin transactions need to be six blocks deep for confirmation.

 

Confirmation Time

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The average amount of time required to add one block to the blockchain. Confirmation time depends on mining difficulty which is regulated by the complexity of the hash algorithm and the number of miners.

 

Mainnet

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A mainnet is an independent blockchain where the coin has no dependencies on its parent chain. For instance, ETH is a mainnet whereas ERC-20 tokens depend on the ETH mainnet.