Blockchain Basics

This section covers the concept of blockchain.
​What is Blockchain?​
​Consensus Algorithm​
​Transactions​
​Gas​
​Account​
Glossary
Terms
Dscription
Private  Key
It is an asymmetric key pair used in a public key infrastructure that is not public and is used secretly.
Public Key
It is an asymmetric key pair used in a public key infrastructure that is external to the public. It means an address on the blockchain.
ERC-20 Token
It refers to the standard of tokens issued on the blockchain platform, and the issued tokens are available only on the blockchain platform.
ERC-721 Token
It means a unique token that cannot be replaced on the blockchain platform, and the issued token is only available on the blockchain platform.
Base Fee
It is the basic fee for generating the transaction. After EIP-1559, the basic fee will be incinerated.
Max Priority Fee
It serves as an incentive for the transaction to be carried out quickly as a reward that goes fully to the block creator. The higher priority fee will be carried out faster transaction.
Max Fee
It is the maximum limit of the fees that the sender can finally pay to execute the transaction. It must be greater than the sum of Base Fee and Max Priority Fee, and the remaining fee will be refunded again.
Test Coin
It is a coin issued in Testnet and used for testing purposes.
TestNet WEMIX(TWEMIX)
This is the base currency issued by WEMIX Testnet.
Transfer
The act of transferring the assets of a particular wallet to another wallet.
Minting
It is a word used to mint legal money such as coins, which means the process of creating assets in a blockchain.
Burn
It means incinerating a coin or token, and it is an act of sending it to an address that does not have a private key on the blockchain so that it cannot be used.
Staking
It means that your digital assets deposit in the blockchain network.
Transaction
It is a recording unit of a transaction to transfer a digital asset to another wallet.
Transaction Hash(txHash)
It is the only identifier for the transaction.
TPS
This is the number of transactions that the blockchain can handle per second.
Contract Address
It means the address for executing the contract on the blockchain.
PoA
It is a model that generates blocks by some validators in a way that has emerged as an alternative to proof of work.
On-Chain
On-chain refers to the occurrence and recording of transactions in the blockchain. On the contrary, off-chain refers to transactions that occur outside the blockchain and are recorded.
Hard Fork
It means creating and branching a new blockchain to solve the problem of the existing blockchain.
End Node
It is located in ENN, a sub-network of the blockchain. It is directly operated to play the role of service processing for users.
p2p
A method of direct communication among clients without going through a central server.
Gwemix
Gwemix is also called as go-wemix. It is a command tool for executing nodes implemented in the go programming language.
ECDSA Algorithm
Blockchain uses electronic signatures when transactions occur. ECDSA is an algorithm that performs electronic signature using elliptic curves.

Terms	Dscription
Private Key	It is an asymmetric key pair used in a public key infrastructure that is not public and is used secretly.
Public Key	It is an asymmetric key pair used in a public key infrastructure that is external to the public. It means an address on the blockchain.
ERC-20 Token	It refers to the standard of tokens issued on the blockchain platform, and the issued tokens are available only on the blockchain platform.
ERC-721 Token	It means a unique token that cannot be replaced on the blockchain platform, and the issued token is only available on the blockchain platform.
Base Fee	It is the basic fee for generating the transaction. After EIP-1559, the basic fee will be incinerated.
Max Priority Fee	It serves as an incentive for the transaction to be carried out quickly as a reward that goes fully to the block creator. The higher priority fee will be carried out faster transaction.
Max Fee	It is the maximum limit of the fees that the sender can finally pay to execute the transaction. It must be greater than the sum of Base Fee and Max Priority Fee, and the remaining fee will be refunded again.
Test Coin	It is a coin issued in Testnet and used for testing purposes.
TestNet WEMIX(TWEMIX)	This is the base currency issued by WEMIX Testnet.
Transfer	The act of transferring the assets of a particular wallet to another wallet.
Minting	It is a word used to mint legal money such as coins, which means the process of creating assets in a blockchain.
Burn	It means incinerating a coin or token, and it is an act of sending it to an address that does not have a private key on the blockchain so that it cannot be used.
Staking	It means that your digital assets deposit in the blockchain network.
Transaction	It is a recording unit of a transaction to transfer a digital asset to another wallet.
Transaction Hash(txHash)	It is the only identifier for the transaction.
TPS	This is the number of transactions that the blockchain can handle per second.
Contract Address	It means the address for executing the contract on the blockchain.
PoA	It is a model that generates blocks by some validators in a way that has emerged as an alternative to proof of work.
On-Chain	On-chain refers to the occurrence and recording of transactions in the blockchain. On the contrary, off-chain refers to transactions that occur outside the blockchain and are recorded.
Hard Fork	It means creating and branching a new blockchain to solve the problem of the existing blockchain.

Introduction

What is Blockchain?

Last modified 20d ago

End Node	It is located in ENN, a sub-network of the blockchain. It is directly operated to play the role of service processing for users.
p2p	A method of direct communication among clients without going through a central server.
Gwemix	Gwemix is also called as go-wemix. It is a command tool for executing nodes implemented in the go programming language.
ECDSA Algorithm	Blockchain uses electronic signatures when transactions occur. ECDSA is an algorithm that performs electronic signature using elliptic curves.