Glossary

Block Confirmation: It is simply executing a smart contract or an operation and recording the transaction on a blockchain block.

Blockchain: Blockchain is a chain of blocks where every block contains valuable data. It is simply a distributed, immutable, decentralized ledger that facilitates recording transactions and tracking assets in a blockchain network.

DDoS: DDos or Denial of Service is a security concern where an attacker floods the network's nodes with traffic, hindering the normal functions of the network.

Decentralized: In the blockchain world, decentralization takes the control and decision-making from the centralized entities and gives to the distributed network, allowing to achieve greater and fairer services.

Ecosystem: The blockchain ecosystem refers to the network of participants interacting with each other and the surrounding world to create an environment with desired special features. These interactions usually happen in the transaction form.

Exchange (Crypto): An online body that converts a country's fiat or other digital currency to cryptocurrency and charges a fee for its service.

Fiat Currency: A central government-issued currency that is not collateralized by a physical commodity, gold or silver, but instead backed by the government that issued it. It derives its value based on the supply and demand mechanism and the stability of the issuing government.

Financial Controller: An individual who is usually responsible for overseeing the day-to-day business operations.

Fuel: It is one of the essential parts of miner health. They are your daily mined MXC tokens, ensuring your contribution to the data republic network.

Gateway: Your M2 pro is referred to as gateway, empowered by community contribution to creating a free, fair, and decentralized IoT network.

Halving: it is one of the essential features of many consensus protocols, where the rate at which new coins are minted is halved; that is where the reward of mining is simply reduced to half.

Health: Miner health is the core of the Proof of participation consensus mechanism, enabling miners to have absolute clarity and oversight of all aspects affecting their mining performance.

IoT: IoT or the internet of things is the network of physical items or things embedded with sensors or other technologies to connect and exchange data with other smart devices.

LPWAN: It refers to a wireless comprehensive area network technology that interconnects low-bandwidth, low energy consumption devices with low bit rates over long ranges, empowering the machine to machine and IoT networks.

Liquidity: In regards to cryptocurrencies, liquidity refers to the ability of a token or coin to be easily converted to other tokens or fiat currency.

MXProtocol: Machine eXchange Protocol or MXProtocol is developed on the Proof of Participation principles, taking advantage of LPWAN technology to create a decentralized infrastructure. It supports and extends the massive data economy globally and ensures the decentralization of sharing economy by empowering miners to participate in constructing a decentralized, widespread, and secure LPWAN network.

Mining: In general, crypto mining is a competitive process responsible for verifying and adding new transactions to the blockchain.

Proof-of-Participation: Proof of Participation (PoP) is the consensus mechanism for the MXProtocol ensures a network created by the mining community is robust, secure, and decentralized.

Proof-of-Work: Proof of Work or POW is a consensus mechanism, where every node on the blockchain network is responsible for solving a complex mathematical puzzle. Every node on the network, also known as a miner, rushes to solve, and when the first miner solves this puzzle, it is rewarded with a freshly minted coin or token.

Sharing Economy: The sharing economy is referred to as collaborative consumption or peer-to-peer-based sharing, using marketplaces to match individuals with the supplier's needs, creating a decentralized network that an intermediary doesn't control.

Staking: It simply refers to holding funds in a cryptocurrency wallet to support the security and operations of a blockchain network. Staking acts similar to locking, but it entitles the user to certain rewards for contributing to the blockchain network