Term | Status | Definition |
| AML | NEEDS REVIEW | |
Application | Centralized web and/or mobile software (front-end and/or back-end); may also include APIs. | |
| BLOCK | A block contains one or more transactions. | |
| Blockchain | A block contains an ordered set of transactions. It is cryptographically linked to the preceding block, and in turn it is linked to be subsequent blocks. The first block in such a chain of blocks is called the genesis block. Blocks are created by the ordering service, and then validated and committed by peers. | |
| Chain | The ledger’s chain is a transaction log structured as hash-linked blocks of transactions. Peers receive blocks of transactions from the ordering service, mark the block’s transactions as valid or invalid based on endorsement policies and concurrency violations, and append the block to the hash chain on the peer’s file system. | |
| Chaincode | Embedded logic that encodes the rules for specific types of network transactions. | |
DApp | Decentralized application - Whole or part of logic on a decentralized network; built on a peer-to-peer network like a blockchain; May have their own blockchain. | |
Initiatives | Groups of stakeholders collaborating to educate, develop pilots, & set policy. | |
Blockchain Platform | A decentralized, distributed, immutable ledger. | |
Project | Implementation of an Application, DApp, or Intermediary System. | |
Intermediary System | Standard or specification for data and procedure that may include libraries, protocols, applications; is not a blockchain in and of itself. | |
Private Consortium | Organization members collaborating to set standards, governance, development, and hosting of a private blockchain and its related applications. | |
Public Permissioned Consortium | Organization members collaborating to set standards, governance, development, and hosting of a public permissioned blockchain and its related applications. | |
| Channel | Private blockchain overlay that allows for data confidentiality and isolation. Channels are defined by a Configuration Block | |
| Configuration block | Block that contains the configuration data that defines members and policies for a system chain or channel. | |
| Consensus | General agreement that allows to confirm the correctness and the order of the set of transactions of a specific block. | |
| Smart contract | Decentralized, immutable and deterministic protocols that provide automation in blockchain solutions and allow to remove third-parties and let peer-to-peer interactions. Smart contract activities can be verifiedOnce agreed between the parties and deployed on a distributed ledger, their activities and outcomes can be verified, so they can be trusted by all stakeholders. | |
| Genesis block | First block of a block chain, that initializes the ordering service. | |
| Transaction | A transaction is created when a chaincode is invoked from a client application to read or write data from the ledger. | |
| Smart contract | Code – invoked by a client application external to the blockchain network – that manages access and modifications to a set of key-value pairs in the latest values for all keys included in the chain transaction log via transactions. |
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