The Cardano Glossary

Ouroboros Byzantine Fault Tolerant protocol. See BFT.

A transaction that is processed outside the blockchain network with an increased speed and reduced cost.

An off-chain transaction is defined as a second-layer protocol where the transactions occur on a network and move value outside of the blockchain.

The act of storing cryptocurrencies in devices or systems not connected to the internet.

Transactions that are recorded on the blockchain itself and shared with all of the participants are done on-chain.

On-chain governance is a decentralized framework used for organizing and integrating updates/improvements to the blockchain networks.

The act of storing cryptocurrencies in devices or systems connected to the internet.

Open source is a philosophy, with participants believing in the free and open sharing of information in pursuit of the greater common good.

A contract giving the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price.

An agent that finds and verifies information, bridging the real world and the blockchain by providing data to smart contracts for execution of said contracts under specified conditions.

the consensus protocol underlying Cardano. There are several different implementations including Classic, Praos, Genesis, and more recently Hydra for scalability.

Over-collateralization (OC) is the provision of collateral that is worth more than enough to cover potential losses in cases of default.

Over-the-counter is defined as a transaction made outside of an exchange, often peer-to-peer through private trades.

When a cryptocurrency has been purchased by more and more investors over time, with its price increasing for an extended period of time.

When a cryptocurrency has been sold by more and more investors over time, with its price decreasing for an extended period of time.