Technical Introduction

Technical Introduction

The common concepts among blockchains which are currently supported are the following:

  • Blocks containing transactions

    • Get added (normal case) or removed (re-orgs/forks) from the block chain

    • Identified by both an incrementing block number

    • Identified by an unique ID (hash)

  • Transactions (referred to as Txs in Ubiquity)

    • Included in one or none blocks

    • Identified by an unique ID (hash)

    • Perform one or more operations

  • Assets (Currently only referring to coins and tokens)

    • Currency distributed across accounts

    • Identified by the “asset path”, introduced by Ubiquity

  • Accounts

    • Identified by an address (commonly hash)

    • Hold assets

    • Definition varies

      • On Ethereum, an account is a defined entity on the blockchain state.

      • On Bitcoin an account with an address is just a collection of unspent coins that can be spent with a particular private key.

  • Operations on transactions that move assets between accounts.