Glossary
As you may have noticed, there are a few recurring terms around the Particl ecosystem, as well as the wider blockchain industry. You will find a definition for many of those terms here.
General Terms
- Blockchain
A blockchain is a distributed database or ledger that is shared among the nodes of a computer network. As a database, a blockchain stores information electronically in digital format. Blockchain on Investopedia
- Cryptocurrency
Cryptocurrencies are digital units of a currency that can be transferred person-to-person without requiring a third-party (payment processor) to facilitate transactions. It enables near-free, near-instant currency transactions that cannot be held up, blocked, reversed, or delayed by any party. In Particl’s case, transactions can also be made anonymously.
- Decentralization
Decentralization is the process by which the activities of an organization or network are distributed or delegated away from a central, authoritative location or group.
Decentralization on Wikipedia (https://en.wikipedia.org/wiki/Decentralization)
- Decentralized Network
A decentralized network is a distributed network that runs autonomously. It doesn’t rely on a central server or database. Each participant of a decentralized network contributes to its well-being. Any communication, exchange of data, or trade is made directly between each user of the platform without any central authority facilitating the exchange.
- DEX
A decentralized exchange, or DEX, is a peer-to-peer cryptocurrency marketplace where transactions occur directly between traders, without the involvement of a third party. DEXs can vary in terms of their levels of decentralization and overall privacy features.
ss Gateways An access gateway is defined here as any portal that allows users to access or interact with a given protocol. In the case of the Particl Marketplace, the main access gateway is through the Particl Desktop application; however, as the Marketplace is first and foremost a decentralized and open source protocol, other gateways (web, mobile or alternative desktop versions) could be built in order to access the very same platform.
- Disintermediation
Disintermediation is the removal of intermediaries in economics from a supply chain, or “cutting out the middleman” in connection with a transaction or a series of transactions. Instead of going through traditional distribution channels, which had some type of intermediary (such as a distributor, wholesaler, broker, or agent), companies may now deal with customers directly, for example, via the Internet.
Disintermediation on Wikipedia (https://en.wikipedia.org/wiki/Disintermediation)
- Node
A node is an individual device connected to a decentralized network such as a computer, VPS, or mobile phone. Each node contributes in maintaining, supporting, securing, and verifying the integrity of a decentralized network. The node itself automatically does these tasks with little to no input from the people running the nodes. Most users of a decentralized network access it through a node, whether that be directly (i.e., using one’s own computer) or through a third-party node (i.e., service provider).
- Peer-to-Peer
Peer-to-peer (P2P) communication means two users can communicate without requiring any intermediary assistance (i.e., servers, database, host, etc.).
- Privacy Coin
A privacy coin is a regular cryptocurrency, wrapped with layers of additional security in order to anonymize the transactions and/or the identities of each wallet holder. It is a more private, more anonymous approach to traditional cryptocurrencies.
- Smart Contract
A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible.
- Tor
The Tor network is a free and open-source network that enables anonymous online communication. It protects your digital privacy by anonymizing your IP address. It does so by routing your connection through a vast and global network of volunteers. Tor’s intended use is to protect your personal privacy as well as your freedom and ability to conduct confidential communication. When enabled on Particl, it makes your node’s IP address entirely anonymous.
Particl Terms
- BasicSwap
The BasicSwap DEX is a decentralized and trustless trading exchange platform developed by Particl developers. It uses atomic swap technology, scriptless scripts, and the SMSG network to let users exchange cryptocurrencies without fees, restrictions, or pre-requisites such as invasive identification or proof of income requirements.
- Market
Particl markets are private by default. Only those possessing their access keys can join them. A market creator decides the attribution model of publishing rights (who’s allowed to sell) when first setting it up.
Markets may allow everyone with access to them to publish and sell items (a market), or may instead require publishing rights that must be granted by their creator (a storefront).
- Network Treasury
Particl developers are supported by Particl’s own decentralized treasury fund,which automatically receives 50% of the staking rewards generated by the blockchain. This staking income is hard-coded directly into Particl Proof-of-Stake (PPoS) and is entirely decentralized.
- Open Market
The Open Market is the main market on Particl Marketplace. It is found by default but needs to be manually joined by the user when first setting up the application. The Open Market is a general-purpose market where any Particl Desktop user can buy or sell anything. The Open Market contains a wide variety of default categories.
- Open Market Protocol (OMP)
The Open Market Protocol (OMP) is the back-end protocol that powers the Particl Marketplace. It is the framework that defines how marketplace transactions, orders, listings, and other key eCommerce functionalities are processed by the SMSG network and the Particl Blockchain. It is the “glue” that sticks everything together. To learn more about the OMP Library, head over to the Open Market Protocol Wiki page.
- Particl
Particl is a user-friendly and developer-friendly ecosystem of privacy-first decentralized applications building against the centralization of power and services on the web.
United under the mission of shifting the balance of power from corporate monopolies back to the people, Particl contributors built a privacy-first and modular ecosystem of decentralized applications complemented by a native privacy coin to send and receive untraceable currency payments within smart contracts. It is both protocol and currency agnostic, meaning that its modular infrastructure allows developers to use almost any protocol or cryptocurrency to build or interact with their applications.
These dApps — alternative versions of some of the online services and products we use every day — are designed to operate in complete and total privacy and without intermediaries or restrictions.
- Particl Blockchain
The Particl Blockchain is a decentralized and immutable ledger based on bitcoin technology. It improves on Bitcoin by introducing advanced privacy as well as extensive smart contract capabilities. The Particl Blockchain processes and validates payments between users in an entirely peer-to-peer environment, without intermediaries such as banks or payment processors.
- Particl Core
Particl Core is the software providing a direct connection to the Particl Blockchains. It also acts as a gateway for applications to interact directly with the blockchain. Because it runs silently in the background of your computer, Particl Core may often be referred to as a daemon or “particld”.
Users can easily interact with Particl Core by either using its CLI client (commands on a terminal) or its graphical counterpart Particl-Qt.
- Particl Desktop
Particl Desktop is Particl’s most popular and user-friendly client. It is the main access gateway into the ecosystem and lets users interact with their wallets as well as a variety of privacy-first applications.
- Particl Ecosystem
The Particl Ecosystem is the sum of any value or participant within Particl’s world. Thus, anyone or any app that uses any of Particl’s available solutions is part of it.
- Particl Marketplace
The Particl Marketplace is a decentralized two-sided marketplace (i.e., eBay) on which people can directly buy and sell anything with each other without middlemen like banks, payment processors, or marketplace operators.
articl Marketplace provides a secure, entirely private, and unrestricted eCommerce environment available anywhere in the world.
- Particl Network
The Particl Network consists of the sum of all the online protocols that make the platform. It mostly consists of two technologies: the Particl blockchain, and the SecureMessaging network.
- Particl Project
The Particl Project refers to all combined efforts, people, and community contributing to the development, maintenance, promotion, and adoption of the Particl decentralized network.
- Particl SDK
The Particl Software Development Kit (SDK) is an upcoming set of tools and documentation that enables developers to independently contribute to the Particl ecosystem. Its purpose is to speed up the onboarding process of independent developers and standardize best practices for maximum compatibility across all contributions.
- PPoS
Particl uses the Particl Proof-of-Stake (PPoS) consensus mechanism, which pays back interest in dividend-like payments to stakers in exchange for securing the network and validating transactions. PPoS offers many secure staking options that let you easily and quickly earn rewards without any of the security or financial risks typically associated with staking.
PPoS is also the protocol used to vote on proposals in Particl’s decentralized governance model.
- SecureMessaging (SMSG)
SecureMessaging (SMSG) is Particl’s own custom-built and unique P2P messaging network that stands at the very core of its ecosystem. Inspired by the BitMessage protocol, it is a mixnet that acts as a decentralized storage network (DSN). It stores and transfers data across nodes in a privacy-preserving manner, encrypted from end to end (E2EE), and without requiring the use of any central server. It provides Particl’s privacy-first dApps like Particl Marketplace and BasicSwap DEX with advanced capabilities.
icl Stakeholders articl Stakeholders participate in the maintenance and functionality of the Particl Blockchain. Particl Stakeholders collect small PART rewards for staking on the network, and may participate in governance proposal votes and Particl Marketplace’s community-based moderation. The rewards and voting strength that a stakeholder enjoys are generally correlated with the amount of PART tokens being staked by that individual.