Transaction Fee
Usually very small fees given to the miners involved in successfully approving a transaction on the blockchain.
This fee can vary depending on the difficulty involved in a transaction and overall network capabilities at that moment in time.
Block
The blockchain is made up of blocks. Each block holds a historical database of all cryptocurrency transactions made until the block is full.
Decentralized
Not controlled, owned or managed by a single person or authority.
Block Finalization Time (or Finality)
The time needed to ensure that a new block is permanently added to the chain.
Block Proposal Time
The time it takes observers to become aware of which block is a candidate to be permanently added to the chain.
Protocols
The set of rules that defines how data is exchanged across a network.
Fork
When a new version of a blockchain is created, resulting in two versions of the blockchain running side-by-side.
Node
A computer and is responsible for allowing parties to participate in the decentralized database.
PoW (Proof of Work)
An approach in which users race to solve very complex cryptographic puzzles, also known as mining.
The first one to solve the puzzle has the right to append the next block to the chain and is rewarded for doing so.
Byzantine agreement
A protocol for getting nodes in a distributed system to agree on state change.