Glossary
Here you will find a broad list of reference terminology that is applicable to Ubiq specifically, and the crypto-currency domain generally.
A
Account
An account is
Address
An “address” in the cryptocurrency field is a portion of a public key consisting of a string of 42 alphanumeric characters (0x + 40 characters) used as an identifier at which one can receive transfers of cryptocurrency and tokens.
Airdrop
An “airdrop” is method of value distribution where a cryptocurrency or token is minted directly to an address when certain conditions are met. For example, if the address in question has interacted with a specific smart contract during a given timeframe, a project developer may choose to award that address with tokens.
AMM
An AMM, or Automated Market Maker is
Andromeda
“Andromeda” is the code name for the 3.0.0 version of Ubiq’s node implementation, gubiq.
B
Block
A “block” in the cryptocurrency field is a standardized packaging of transaction data and other pertinent event information that has occurred on a cryptocurrency network in a given timeframe. It includes as part of its make up the cryptographic hash result of the block that occurred immediately before it.
Blockchain
A "blockchain" refers to a distributed, consensus-based ledger for facilitating the transaction of digital property. Each block that comprises the structure of the this database is mathematically linked to the block that was generated immediately before it, forming a chain of information that originates with the very beginning of the network.
Block Explorer
A “block explorer” is a web based application that is used to examine events that occur on a blockchain network. Generally they can be used to search by Address, Transaction Hash, or Block Number. The results show a great deal of detail and are very useful in analysis.
Block Reward
The “block reward” refers to the amount of newly created cryptocurrency + Uncle Rewards that is awarded to the network participant who is successful in generating the most recent valid block.
In Ubiq’s Proof-of-Work system, the block reward was 8 UBQ (+ Uncles) at block 1, and reduces by 1 UBQ (+ Uncles) every 358636 blocks.
Block Time
“Block time” is a targeted amount of time that a cryptocurrency network should, on average, generate a new valid block. With Proof-of-Work systems, this amount of time fluctuates as computational power joins or leaves the network and the work difficulty changes to account for more or less cycles attempting to find solutions. The Ubiq target block time is 88 seconds.
C
Confirmations
“Confirmations” or “Confs” is a colloquialism referring to the number of blocks that have been validated since a particular transaction has been included in a block. It is a measure by which one may judge the certainty that a transaction may be considered “safe”. The accumulated computational work over the course of successive blocks makes it mathematically unlikely that manipulation can occur.
Contract
A “contract” or “smart contract” is a persistent type of computer program that is owned by an account and can be executed programmatically or purposefully by the private key owner. Because the data that comprises this program is stored on-chain, smart contracts once created are immutable.
D
DAG
A directed acyclic graph, or “DAG” is a file made up of a large, randomized dataset that is used in the Proof-of-Work scheme of systems like Ubiq. It is based on the block number of the current epoch. A new DAG is generated at the beginning of every new epoch.
Decentralization
Decentralization is a term that is used to describe systems wherein control is distributed amongst a diaspora of participating actors. In the cryptocurrency realm decentralization refers to the degree to which people can operate nodes of a blockchain to verify the transaction history of the ledger.
DeFi
DEX
Difficulty
Discord
E
Epoch
An “Epoch” is defined as a timeframe of 30,000 blocks. With Ubiq’s target block time of 88 seconds, a new epoch begins roughly every 30.5 days.
ERC-20
ERC-721
ERC-1155
Escher
ESCH
Ethereum Virtual Machine
F
Flex (3.1.0)
“Flex” is the code name for the 3.1.0 version of Ubiq’s node implementation, gubiq.
Flux
“Flux” is the name of the algorithm that regulates difficulty in Ubiq’s Proof-of-Work system. Flux aims to adjust the complexity required to successfully resolve a block solution as network hash power fluctuates. Flux is constantly adjusting this parameter with the goal of facilitating miners to solve a new block every 88 seconds on average.
Fork
Fusion
G
Gas
Github
GPU
Gubiq
Gwei
H
Hard Fork
Hardware Wallet
Hash
Hashrate
I
It's Lit (2.1.0)
“It’s Lit” is the code name for the 2.1.0 version of Ubiq’s node implementation, gubiq.
J
Jumbucks
K
L
M
Matcha (3.2.0)
“Matcha” is the code name for the 3.2.0 version of Ubiq’s node implementation, gubiq.
Mempool
Miner
Mining
Mining Pool
Multi-Sig
N
NDF ( Network Development Fund )
NFT
Node
Nonce
Nucleus Block
The “Nucleus Block” refers to the initial block of the Ubiq network. It contained the data set which determined the inceptive distribution of UBQ as established by valid claims during the swap process from Jumbucks to Ubiq.
O
Orphan
P
Private Key
Public Key
Proof-of-Work
Q
R
S
Seed Phrase
Signature
Smart Contract
Soft Fork
T
Transaction
Transaction Fee
U
Ubiq
Ubiq is a peer-to-peer network for running decentralized computer programs commonly referred to as “smart contracts”. It is an open-source, permissionless, public blockchain which operates a unique and independent EVM with its own origin, infrastructure, mining community, and monetary policy.
Ubiqexplorer
"Ubiqexplorer" is a third party block explorer tool for the Ubiq network. It can be used to analyze data found on the Ubiq blockchain such as addresses, transactions, blocks, and tokens.
Ubiqscan
"Ubiqscan" is the official block explorer tool for the Ubiq network. It can be used to analyze data found on the Ubiq blockchain such as addresses, transactions, blocks, and tokens. It is based on the Spectrum framework, an open source block explorer for EVM-type blockchains, also developed by the Ubiq core-dev team.
UBQ
"UBQ" is the native value token of the network. It is created as the reward for Proof-of-Work mining on the Ubiq blockchain, and is the basis for value transfer and funding computational processing. All contract and transaction fees, including those of tokens deployed on the network are denominated in, and require UBQ.
V
W
Wallet
X
Y
Z
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