Crypto Abecedarium

N

Node: In the context of cryptocurrencies, a node is a device (such as a computer) that participates in the blockchain network. Nodes maintain a copy of the blockchain and communicate with other nodes to validate and relay transactions.  

Node Operator: An individual or entity that operates a node on a blockchain network, contributing to the network's decentralization and security. 

Nonce: Nonce stands for "number only used once." It is a unique number generated in a cryptographic hash function during the process of mining a new block in a blockchain. Miners adjust the nonce value to try to find a hash that meets certain criteria and allows them to add a new block to the blockchain.  

NFT (Non-Fungible Token): NFTs are unique digital assets that represent ownership or proof of authenticity of a specific item or piece of content, typically stored on a blockchain. Unlike cryptocurrencies such as Bitcoin or Ethereum, NFTs are not interchangeable on a one-to-one basis because each one has unique properties.  

Network: In the context of cryptocurrencies, the network refers to the entire infrastructure and ecosystem that enables the functioning of a particular blockchain. This includes all the nodes, miners, users, and communication protocols that make up the decentralized network.  

"Non-custodial": refers to a type of cryptocurrency wallet or service where users have full control and ownership of their private keys and funds. In a non-custodial system, users are responsible for managing their own private keys, which are essential for accessing and controlling their cryptocurrency holdings.