Cryptocurrency Glossary / dictionary

Refers to a collaborative group of computers around the world that collectively support a blockchain. Each computer in the network is referred to as a Node. Every unique blockchain relies on its own network of nodes. For example, Bitcoin and Ethereum are different blockchains, and therefore have a different network.

Is also called an NFT.  It is used to represent and prove ownership of digital data. Such as digital music, art, identity information, and much more. It is a unique token that can't be interchanged with any other token on the same blockchain (or ANY other blockchain).  See also "What is a Non-Fungible Token" for a more in-depth description.

Nodes are the individual computers that support and interact with a blockchain. They can be located anywhere in the world. These nodes, working together, are called the blockchain's network. Examples of nodes are Wallets, Transaction Validators, Exchanges, Miners, etc. Anything that can interact with the blockchain is a node. Nodes can be "full" nodes, "partial" nodes, or "lite" client nodes. They are all using some identical subset of the complete blockchain software.

Nonce means "Number Used Only Once".  It is a fancy name for what is essentially a counting integer.  The "used only once" refers to the fact that it is used in any type of looping mathematical formula that expects an input number which is never repeated during in any of the loops. For example, a nonce is used by bitcoin miners who are running the Proof 0f Work algorithm to generate a valid bitcoin block to be added to the blockchain.  They must execute the PoW algorithm 1000s of times, and each time they need to use a different nonce. RELATED TERMS

• PoW

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