Blockchain glossary
The terms you'll meet when you launch a coin or order a node, explained in one plain sentence each.
Archive node
A node that keeps every past state of the blockchain since the first block.
You need one to look up an old balance or contract value at a past block, for example for indexers, analytics or tax tools. It needs much more disk than a full node.
Block explorer
A public website where anyone can look up a blockchain's blocks, transactions and balances.
Exchanges and users expect one before they trust a new coin.
Chain ID
A unique number that tells wallets like MetaMask which EVM network they are connected to.
Two networks with the same chain ID can confuse wallets, so pick a number no other public network uses.
Related:Genesis blockBlock explorer
Fork
A copy of an existing coin's code, given a new name and its own rules and network.
Many well-known coins started as copies of Bitcoin's code. Forking a proven codebase is the quickest way to launch a coin with its own blockchain.
Full node
A computer that keeps a full copy of the blockchain's current state and checks every new block.
Apps, wallets and bots use full nodes to read balances and send transactions. Most projects need full nodes, not archive nodes.
Genesis block
The very first block of a blockchain.
It sets the starting state of the chain. On proof-of-authority and proof-of-stake chains, the starting supply and any premine are placed here.
Mining pool
A service that lets miners combine their computing power and share rewards.
Pools give miners steady, smaller payouts instead of rare large ones, which attracts miners to a new proof-of-work coin.
Related:Proof of workBlock explorer
Premine
Coins created for the project owner at launch, before anyone else can mine or stake.
A small premine can fund development. A large one can make a community distrust the coin. With RocketRPC you choose 0, 1, 5 or 10 percent and where the coins go.
Related:Genesis blockFork
Proof of authority
A way of making blocks where a small set of known, trusted validators approves them.
It suits private or business chains where the validators are known organizations.
Related:ValidatorProof of stake
Proof of stake
A way of making blocks where holders lock coins to earn the right to approve blocks.
It uses far less energy than proof of work. Cosmos-based chains use it.
Proof of work
A way of making blocks where miners compete to solve a puzzle using computing power.
Bitcoin, Litecoin and Dogecoin use it. It needs miners, and usually a mining pool.
Related:Mining poolProof of stake
Validator
A node that approves new blocks on a proof-of-stake or proof-of-authority blockchain.
On proof-of-stake chains, validators lock coins (stake) and earn rewards. With RocketRPC you run the server with us and stake from your own wallet.