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Terms starting with N

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Explain it like a bankFlips every card at once

Network

also called chain, blockchain network

Which blockchain a transfer travels on, such as Ethereum, Base or Polygon. The same stablecoin exists on several networks and they are not interchangeable in transit. Sender and receiver must agree on one.

Blockchain Layer 2 Wallet address Gas

Network

What you already know this as

Choosing SWIFT, SEPA or a domestic rail. Same money, different pipe, different cost and speed, and the wrong pipe means the payment fails.

In Kite: You can top up with USDC on Base, Ethereum or Polygon, or USDT on Ethereum or Polygon.

NFT

also called non-fungible token

→

A token that is one of a kind rather than interchangeable, used for art, tickets, memberships and records of ownership.

Token Tokenisation

NFT

What you already know this as

A numbered certificate or a named ticket. Every unit is distinguishable, which is precisely the opposite of money.

Node

→

A computer running the blockchain's software, keeping a copy of the ledger and checking that everyone else is playing by the rules.

Validator Blockchain Consensus

Node

What you already know this as

A member bank's server in a clearing network, if any volunteer could run one and audit every other member.

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