Home / Knowledge base / Blockchain
Blockchain glossary for business owners
| Term | Meaning |
|---|---|
| Blockchain | A shared ledger where records are grouped into blocks and linked so past entries can't be changed without detection. |
| Hash | A unique fingerprint of a file or record. Any change to the file produces a different hash. |
| Anchoring | Storing only a hash of a record on a blockchain to prove it existed unchanged at a point in time. |
| Node | A computer that keeps a copy of the ledger and helps validate records. |
| Public blockchain | Anyone can read and participate. |
| Permissioned blockchain | Only approved organisations can write or read. Common for business use. |
| Smart contract | Code on a blockchain that runs automatically when conditions are met. |
| Wallet / key | Credentials used to sign transactions and prove who made an entry. |
| Immutability | The property that records, once written, can't be silently edited. |
| Provenance | The documented history of a product's origin and ownership. |
| Tokenisation | Representing an asset or right as a digital token. Subject to regulation; take legal advice. |
Still have a question? Message us on WhatsApp or book a free consultation.