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Glossary

Atomic Swap: A smart contract technology that enables the peer-to-peer exchange of different cryptocurrencies without the need for a trusted intermediary, ensuring secure and instantaneous transactions.

Blockchain: A decentralized, distributed ledger technology that records transactions across multiple computers in a secure and transparent manner.

Consensus: A process by which all participants in a blockchain network agree on the validity of transactions and the state of the ledger, ensuring a single, immutable version of truth.

Cross-Chain: Refers to the ability to transfer assets or data between different blockchain networks, enabling interoperability and communication between disparate systems.

Cryptocurrency: Digital or virtual currencies that use cryptographic techniques for security and operate independently of central banks.

DAO (Decentralized Autonomous Organization): An organization represented by rules encoded as a computer program that is transparent, controlled by its members, and not influenced by a central government.

Decentralization: The distribution of power and control away from a central authority or entity, often associated with blockchain technology.

Delegated Proof of Stake (DPoS): A consensus mechanism used in some blockchain networks where token holders vote for a limited number of delegates or validators to validate transactions and secure the network on their behalf.

Fungible: Refers to assets or tokens that are interchangeable and identical in value, such as cryptocurrencies like Bitcoin or stablecoins.

Hash Function: A mathematical function that converts an input (data) into a fixed-size string of characters (hash value), used in blockchain technology for data integrity and security.

Immutable: Refers to data stored on a blockchain that cannot be altered, deleted, or tampered with once it has been confirmed and added to the blockchain.

Interoperability: The ability of different blockchain networks to communicate, exchange data, and transfer assets seamlessly, enabling collaboration and integration between disparate systems.

Layer 2 Scaling: Scaling solutions built on top of the main blockchain (Layer 1) to improve transaction throughput and reduce costs, without compromising security or decentralization.

Mining: The process of validating transactions and adding them to the blockchain ledger through the use of computational power and solving complex mathematical puzzles.

Node: A computer or device participating in the decentralized network of a blockchain, responsible for validating and relaying transactions.

Permissioned Blockchain: A type of blockchain network where access and participation are restricted to certain users or entities, typically used in enterprise settings or government applications.

Permissionless Blockchain: A type of blockchain network where anyone can join, participate, and interact with the network without requiring permission or approval from a central authority.

Proof of Stake (PoS): A consensus mechanism used in blockchain networks where participants (validators) are chosen to create new blocks and validate transactions based on the number of tokens they hold and are willing to “stake” as collateral.

Proof of Work (PoW): A consensus mechanism used in blockchain networks where participants (miners) must solve complex mathematical puzzles to validate and add new blocks to the blockchain.

Sidechain: A separate blockchain that runs in parallel to the main blockchain, allowing for specific tasks or functions to be performed off the main chain while still being interoperable with it.

Smart Contract: Self-executing contracts with the terms of the agreement directly written into code. They automatically execute and enforce when predefined conditions are met.

Staking: The process of participating in a proof-of-stake blockchain network by holding tokens in a wallet to support network operations and validate transactions, in return for rewards.

Token: A digital asset or unit of value issued by a company or organization, often representing ownership, access rights, or a stake in a network.

Tokenization: The process of converting rights to an asset into a digital token on a blockchain, enabling fractional ownership and transferability.

Wallet: A digital tool used to store, manage, and transact cryptocurrencies and other digital assets.

Zero-Knowledge Proof: A cryptographic technique that allows one party (the prover) to prove the validity of a statement to another party (the verifier) without revealing any additional information beyond the validity of the statement itself.