A method of measuring amounts of mosaics while taking into account their divisibility. It is figured out by multiplying the relative amount by 10divisibility. For example, if the mosaic has divisibility 2, 10 relative units correspond to 1000 absolute units.
A container for assets, which can only be modified with its private key. An account always has two keys (private and public) and an address. Read more.
A configurable set of smart rules to block announcing or receiving transactions for a specific account. Read more
An Aggregate Transaction is bonded when it requires signatures from multiple participants. Read more.
An Aggregate Transaction is complete when all the required participants have signed it. Read more.
A type of transaction that merges multiple transactions into one by generating a one-time disposable smart contract. Read more.
The codename for a decentralized, peer-to-peer marketplace built on Symbol to enable the trading of mosaics.
Ask Me Anything. An open questions session.
Asia and Pacific region.
Nodes responsible for storing data in a readable form in MongoDB. They are also responsible for collecting the cosignatures of aggregated bonded transactions.
Annual Percentage Rate.
When a trader purchases an asset in one place and sells it in another place to profit from a deviation in natural prices between markets.
The automatic process by which Symbol servers allows accounts to register as delegated harvesters via special transfer messages.
transactionA with slightly lower gas (or fees) than an already pending
transactionB so that
transactionA gets mined right after
transactionB in the same block.
A Boneh–Lynn–Shacham signature is a cryptographic signature scheme which allows a user to verify that a signer is authentic.
The original project alias for NEM 2.0 - later labeled as Symbol.
Central Bank Digital Currency.
Command-Line Interface. A Program which is entirely used from a terminal console, using only the keyboard. Symbol has a CLI tool to interact with the blockchain. Read more.
Coin Market Cap. A web page.
Accounts that act as account managers to multisig accounts. Cosignatories need to sign multisig account transactions before they can be announced to the network.
The act providing a signature to approve a transaction.
A built-in feature of Symbol which enables the trading of tokens across different blockchains without using an intermediary party (e.g. an exchange service). Read more.
Central Securities Deposit.
Decentralized Autonomous Organization.
Decentralized Application. An application that runs on a blockchain instead of a single computer. The term is slightly abused so, in a more general sense, it also means any application which makes use of a blockchain.
A time window for a transaction to be accepted before it reaches its expiration. The transaction is eliminated when the deadline is reached and all the nodes reject the transaction. Read more.
Decentralized Finance, as opposed to Traditional Finance (TradFi).
A method of harvesting that allows users to receive rewards without having to run a node locally by delegating their importance scores to a brand new proxy account. Read more.
The property of mosaics that enable fractional amounts. The number of divisibility refers to the decimal place to which the mosaic can be divided.
Direct To Consumer, i.e. mass market.
Length of time measured in blocks. Each block on the Symbol blockchain takes about 30 seconds to harvest.
The fee to be paid for a transaction. Calculated by reading the fee multiplier from the block in which the transaction got confirmed and multiplying it by the size of the transaction.
Europe, Middle-East and Africa.
Ethereum Request for Comment. Commonly utilized to refer to a token standard on the EVM (such as ERC-20, ERC-721, ERC-1155).
Ethereum Virtual Machine.
A multiplier used to calculate the effective fee of each transaction contained within a block.
Fast Fourier Transform.
A research and development organization working on mitigating the negative effects of MEV extraction techniques.
In context of cryptocurrencies, Trying to include your transaction in front of some other transaction. This is more important in case of DeFi markets, where gains can be made from front-running.
Network-wide rules that determine whether accounts will be able to send or receive a specific mosaic (with Mosaic Restrictions enabled).
An account determined by the node operator that shares a portion of the block rewards.
The process of creating new blocks on the Symbol blockchain. Read more.
A type of transaction which locks funds for a certain amount of blocks. This transaction is required before announcing an Aggregate Bonded Transaction. When the associated Aggregate Transaction is complete, the locked funds are returned to the original account. Read more.
Hashed Time Lock Contract. A protocol which creates a trustless environment for the decentralized exchange of assets. It guarantees that a swap will take place if all the participants agree. On the other hand, if some of them decide not to conclude the process, each participant will receive their locked funds back.
Messenger of the Gods. Codename for Symbol’s next wallet project.
Initial Coin Offering.
Network configured increase in currency supply per block. The mosaics created due to inflation are included in the block reward. Read more.
Internal Revenue Service. Who you pay your taxes to if you live in the US.
Incrementally Verifiable Computations.
From Ancient Greek: “The right, critical, or opportune moment”. The codename for a collectible card game, built on top of Symbol.
Know Your Customer.
Latin America (Central and South America).
A method of harvesting executed by running a local node.
Mergers & Acquisitions (NOT a chocolate candy).
The maximum fee allowed by the sender to be paid for this transaction to be confirmed in a block.
A structure of nodes labeled by hashes. It is a data validation technique used by Symbol to store large data sets associated with a block that cannot be retrieved directly from the block header. It allows light clients to verify if an element (e.g. transaction, receipt statement) exists without demanding the entire ledger history.
The ability to attach text strings to transactions.
Additional information that can be attached to accounts, mosaics, or namespaces. Read more.
Miner-Extractable Value - process of reorganising transactions inside a block by miners, to gain something (might be covered by secret contract).
Number of cosignatories required for the multisignature account to execute a transaction.
Number of cosignatories required to remove a cosignatory from a multisignature account.
A feature that allows mosaic creators to control which accounts can transact with the asset. It only affects mosaics with the restrictable property enabled explicitly at the moment of creation. Read more.
A representation of any kind of asset on Symbol (fungible or non-fungible). Read more.
An advanced built-in feature of Symbol that allows multisignature accounts to be cosigners for other multisignature accounts, creating multiple layers of cosignatories. Multi-level multisignature accounts add “AND/OR” logic to multi-signature transactions.
Accounts that require additional signatures (from cosignatories) to initiate actions/transfers. Read more.
Unique domain spaces on the Symbol blockchain which can be linked to Symbol accounts or mosaics. Functions similarly to internet domains. Read more.
Desktop NIS1 wallet created by the NEM Foundation.
The New Economy Movement.
An account defined by the network operator that will receive a percentage of the harvesting rewards.
A non-fungible token - a way to represent anything as an Ethereum-based asset.
NEM Group Limited.
The act by which the Symbol network will prevent communication with a malicious remote node and reject incoming connections from it.
A measure of trust that the Symbol network determines for each specific node. The network’s trust for a node increases with each successful interaction, and decreases for each failed attempt of communication.
The URL of the node you want to use to access the network. All nodes should return the same information so it is not critical which one you use.
NEM Software Limited.
Realm outside of the blockchain. Off-chain activity does not directly reflect on the blockchain.
An Ethereum layer 2 scaling solution. Optimistic Rollups.
Persistent Delegated Harvesting Unlocking. A feature that enables delegated harvesters to preserve their status despite connectivity problems of nodes. With PDHU, if a node experiences turbulence and reboots, the existing delegated harvesters will automatically reconnect when the node is back online.
Nodes that facilitate the blockchain process by verifying transactions and blocks, running the consensus algorithm, creating new blocks, and propagating the changes through the network.
The codename for a end-to-end simulation platform by NEM that allows backtesting of network upgrades. Will launch with Symbol support but other blockchains can be added.
Proof of Concept (NOT a consensus protocol).
Proof of Importance. The consensus protocol used by NIS1. Similar to PoS but measuring an account’s activity besides its stake.
Proof of Stake. A consensus protocol.
Proof-of-Stake Plus. Symbol’s consensus mechanism. It is a modified PoS algorithm which considers users’ activity in the network in addition to their network stakes. The chance that accounts will have to harvest a block is calculated through their importance scores. Read more.
Proof of Work. A consensus protocol.
Cryptographic key that gives ultimate control over an account and its assets, and must thus be kept secret. It is paired with the public key in the key pair system.
The public identifier of the key pair, which can be disseminated widely. It is used to prove that a transaction was signed with the paired private key. The public key is cryptographically derived from the private key.
Record of proof for every hidden change on the blockchain. The collection of receipts are hashed into a merkle tree and linked to a block. Read more.
A mosaic selected by the mosaic creator to define mosaic restrictions that depend directly on the selected mosaic’s global restrictions.
A method of measuring amounts of mosaics without accounting for their divisibility. It is figured out by multiplying the absolute amount by 10divisibility. For example, if the mosaic has divisibility 2, 10 relative units correspond to 1000 absolute units.
The act of undoing a block(s) that was previously confirmed.
A malicious maneuver where cryptocurrency developers abandon a project and run off with the funds.
A type of front-running technique that’s popular in DeFi. To make a sandwich, you find a pending transaction in the network and then try to surround the network by placing one order just before the transaction (front-running) and one order just after it (back-running).
Software Development Kit. A Software library used to simplify creating applications for a given platform. Read more about Symbol’s SDK.
A type of transaction between two accounts where the mosaics remain locked until the recipient presents a valid SecretProofTransaction. Otherwise, the funds are returned to the sender. Read SecretLockTransaction.
A type of transaction through which the recipient of a SecretLockTransaction provides proof and unlocks the mosaics. Read SecretLockTransaction.
An Ethereum scaling solution. Sharding.
A feature which provides Symbol network protection against being spammed with lots of unconfirmed transactions.
A unique domain on the Symbol blockchain that is a part of a larger domain under the namespace hierarchy. Subnamespaces can only exist in conjunction with a root namespace.
Symmetric External Diffie-Hellman.
Plugins that can be added to the Symbol’s protocol to extend its capabilities. Allows developers to introduce different ways to alter the chain’s state via transactions without modifying the core engine or disrupting other features. Read more.
Tender Loving Care.
Security protocol used to encrypting communication between peers on the Symbol blockchain.
A representation of a digital asset.
Transactions Per Second.
Set of plugins that determine the kinds of transactions the network supports.
The most basic transaction used to send mosaics and messages between two accounts. Read more.
Unique Selling Proposition or Unique Selling Point. A characteristic of a product that can be used in advertising to differentiate it from its competitors.
Virtual Private Server. A virtual machine typically hosted on a Data Center which you can access remotely and treat as if it was your own physical machine.
VRF stands for verifiable random function. All potential harvesting accounts must link to a second public key by announcing a VrfKeyLinkTransaction. The key linked is then used to randomize block production and leader/participant selection.
The native currency of the Symbol blockchain.