Crypto Glossary

Feeling left behind by all the crypto jargon? Let's simplify the world of web3 with clear and easy-to-understand explanations. Soladex helps you navigate the 'A to Z' of cryptocurrency and blockchain with simple crypto definitions. Let's demystify the meaning behind crypto terminologies together and get ready to talk web3 like a pro!
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Epoch

A roughly 2 day period where validators have predetermined schedules for block production and stake changes take effect.
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Leader rotation

A scheduled system where validators take turns producing blocks based on their staked SOL amount, with each validator getting roughly four slots (about 1.6 seconds) before rotating to the next validator.
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Liquid Staking Token (LST)

Lets you earn staking rewards while maintaining liquidity through tradeable tokens that can be used as collateral or in DeFi protocols without the typical staking lockup period
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MEV

The extra profit validators and searchers make by strategically reordering, including, or excluding transactions when building blocks, which on Solana is less predictable due to the lack of a public mempool but remains highly lucrative.
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Proof of History (POH)

Solana's cryptographic clock that timestamps events in an unbreakable sequence, eliminating the need for validators to constantly communicate about transaction timing and enabling thousands of transactions per second.
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RPC Node

A bridge that lets apps communicate with the Solana blockchain through a simple API to check balances, fetch transaction history, and submit transactions without running their own validator node.
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Solana Virtual Machine

The engine that runs all programs and processes transactions on Solana, capable of executing thousands of simultaneous transactions across multiple CPU cores for ultra-low fees.
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Sealevel

A parallel smart contract runtime that processes thousands of transactions simultaneously across multiple CPU cores, enabling Solana to achieve 3,000+ TPS with sub-penny fees by running non-interfering transactions concurrently.
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Stake/Staking

Earn around 7% annual rewards by delegating SOL tokens to validators, either through direct wallet staking (which locks tokens) or liquid staking protocols that provide tradeable tokens for DeFi use while maintaining rewards.
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SPL Token

Solana's equivalent to ERC-20 tokens, offering a standard way to create and manage digital assets with lightning-fast processing and ultra-low fees, ideal for DeFi protocols and gaming applications requiring high transaction volumes.
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Tower BFT

Solana's consensus mechanism that combines Byzantine Fault Tolerance with Proof-of-History, where validator votes "stack up" over time with increasing commitment periods to prevent flip-flopping and ensure quick network agreement.
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Validator

Specialized servers that process transactions, create blocks, and maintain network consensus by staking SOL as collateral, earning 7-9% annual rewards for securing the blockchain.
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