Chain Basics

Blockchain : Decentralized Ledger and consensus protocol

Avalon : Name of the blockchain and database for videos

Bandwidth : The limit of data each account can send and use

DTC : The currency of the Avalon blockchain

Transaction :Operations/Activity/Write requests to the blockchain. A transaction is a submitted update to the Avalon blockchain. This can include token transfers, posts/comments, votes, etc.

Block:A block records some or all of the most recent Avalon transactions that have not yet entered any prior blocks. Thus, a block is like a page of a ledger or record book. Each time a block is 'completed', it gives way to the next block in the blockchain

Account: An account is a container for all of the activity associated with a particular user's wallet on the blockchain. This includes all of their tokens, posts, comments, upvotes, transfers, etc.

Authority: Each account has multiple authority and option to create multiple keys with different permissions on the platform. These permissions and authorities can be used on different purposes.

Owner: Owner authority/permission of a given account

Key: Keys are used to authenticate transactions. Each key contains a public/private pair. When a transaction is submitted to the Steem blockchain, it is signed by the account owner using their private key. The blockchain is able to determine that the transaction is valid by validating the signature against the public key from the pair.

Public Key: Public key of account's certain authority

Private Key:Private key to sign a transaction with account's authority, should be kept secret because it grants access to account

Active key :The active key is used to make transfers and place orders in the internal market The active key is used to make transfers and place orders in the internal market Posting key: The posting key is used for posting and voting

Owner key:The owner key is the master key for the account and is required to change the other keys

Post: A post is a root level comment

Comment:A comment is text content that is stored on the blockchain. Comments can be linked to other comments as "replies" through parent/child relationships.

Vote :A vote is an expression of like (upvote) or dislike (downvote) for a post/comment. The Avalon blockchain uses the votes that a post/comment has received to determine its share of the rewards.

Voting Power(VT) Voting power is a power you generate from your staked up DTC to curate content and VP replenishes based on your DTC at rate of +1 VP / DTC / hour

Mainnet:The 'production' Avalon blockchain network wherein real DTC is held and actual transactions take place.

Reward Pool:Every day, a fixed amount of DTC tokens are allocated to the network reward fund, commonly called the "reward pool." These get distributed to authors and curators for posting and voting on content.

DPOS: Delegated Proof of Stake (DPoS) is a consensus algorithm developed to secure a blockchain by ensuring representation of transactions within it. DPoS is designed as an implementation of technology-based democracy, using voting and election process to protect blockchain from centralization and malicious usage.

Node: node is an instance of the Avalon blockchain running on a server.

Leader: Leader is a position/role for the people who are chosen by community (delegate trust) to support platform and run consensus protocol to ensure security and validity of transactions/blocks on the blockchain. A witness is responsible for signing and validating blocks for the Avalon blockchain.

Hardfork:Process to release protocol/blockchain consensus upgrades

Softfork:Process to release protocol/blockchain software improvements

Leader Vote: Voting or electing witnesses with your account's current stake

Connect with the community

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