
Topic
Blockchain definition check: 12 terms everyone confuses
Coin, token, ledger, layer — the words get used interchangeably all the time. They should not be.

Coin, token, ledger, layer — the words get used interchangeably all the time. They should not be.

A distributed ledger is just three moving parts: a chain of records, computers holding copies, and a rule for agreeing on the next one. Here is what each part does, and what it does not guarantee.

Strip away the jargon: a blockchain is a shared record book that thousands of computers keep copies of, and that is what makes it hard to quietly rewrite.