It represents a user's or entity's presence on a blockchain.

Active Set

The top 50 validators that participate in consensus, receive rewards, and secure the blockchain.


A unique numerical identifier for digital wallets within a blockchain network.


A promotional or gift program where specific cryptocurrencies are distributed for free.


(Application Programming Interface) An interface that enables data and transaction communication between software applications.


The command line interface for interacting with a Areon node.

For more information on AreonCLI, see the Areon guides.


A unit in a blockchain where data is stored; it can contain multiple transactions.

Block Explorer

A web interface used to inspect transactions and blocks on the blockchain.


A continuously growing, distributed digital ledger or record system composed of independent blocks.

Bonded validator

A validator in the active set participating in consensus. Bonded validators earn rewards.


When a user delegates or bonds AREA to a validator to receive staking rewards. Validators never have ownership of a delegator's AREA, even when bonded. Delegating, bonding, and staking generally refer to the same process.


A tool that facilitates the transfer of assets or data between different blockchains.

Bug / Bug Bounty

Software errors or security vulnerabilities, and a program that rewards those who discover such issues.

Cold Wallet

A secure method of storing cryptocurrencies with no internet connection, typically on a device.


The percentage of staking rewards a validator keeps before distributing the rest of the rewards to delegators. Commission is a validator’s income. Validators set their own commission rates.


Agreement among network participants for validating transactions in a blockchain network.


Refers to smart contracts, which are self-executing programs on a blockchain.

Crypto Wallet

A digital wallet application used to store, send, and receive cryptocurrencies.


(Decentralized Application) Decentralized applications built on blockchain technology.


(Decentralized finance) A movement away from traditional finance and toward systems that do not require financial intermediaries.


A person or entity that grants authority to someone else to perform specific functions on a blockchain network.


(Decentralized Exchange) A decentralized exchange, a platform for direct cryptocurrency trading.

Digital Asset

Any value represented and stored on technologies like blockchain.


(Ethereum Virtual Machine) The virtual processor of the Ethereum network where smart contracts execute and transactions take place.


An online platform or service used for buying and selling cryptocurrencies.


A website or service that often distributes free cryptocurrencies.


Compute fees added on to all transactions to avoid spamming. Validators set minimum gas prices and reject transactions that have applied gas prices below this threshold.

Full node

A computer connected to the Areon that is able to validate transactions and interact with the Areon blockchain. All active validators run full nodes.


The fee or resource required to execute a transaction or a smart contract.

Gas Limit

A restriction that sets the maximum amount of gas a transaction can use.

Genesis Block

The first block of a blockchain, marking the beginning of the blockchain's creation.


Governance is the democratic process that allows users and validators to make changes to the AreonChain. Community members submit, vote, and implement proposals. One staked AREA is equal to one vote.

Governance proposal

A written submission for a change or addition to the AreonChain. Topics of proposals can vary from community pool spending, software changes, or parameter changes.


A unit for measuring transaction fees on the Ethereum network.


A unique string generated through a mathematical process from data.

Hot Wallet

An internet connected wallet type used for quick transactions but with security risks.

Inactive set

Validators that are not in the active set. These validators do not participate in consensus and do not earn rewards.


Validators who misbehave are jailed or excluded from the active set for a period of time.


Pairs that provide access to cryptocurrency assets, typically consisting of private and public keys.


The ease with which an asset can be bought or sold.


The live and real version of a blockchain network where actual transactions occur.

Market Cap

The total value of a cryptocurrency, often calculated by multiplying the circulating token supply.

Mnemonic Phrase

A series of words used to recover or back up your cryptocurrency wallet.


(Non-Fungible Token) Unique, non-interchangeable digital assets.


A device or software component connected to a blockchain network.

Private Key

A secret key used and stored by the owner of a cryptocurrency wallet.


When a delegator wants to transfer their bonded AREA to a different validator. Redelegating AREA is instant and does not require a 10-day unbonding period.


(Remote Procedure Call) A communication protocol that facilitates access to blockchain networks through remote access.


Revenue generated from fees given to validators and disbursed to delegators.


The amount of AREA a validator bonds to themselves. Also referred to as self-bonding.


The ability of a blockchain network to handle more transactions.


A series of words used to recover or back up your cryptocurrency wallet (serving the same purpose as a mnemonic phrase).


Punishment for validators that misbehave. Validators lose part of their stake when they get slashed.

For more information, see slashing in the description of the AreonChain.

Smart Contract

A self executing program or agreement that automatically performs transactions based on specific conditions.


The amount of AREA bonded to a validator.


The process of locking up your cryptocurrencies on a network and earning rewards.


A transaction in which cryptocurrencies are exchanged for one another.


A non-live version of a blockchain network used for testing and development.


A digital unit representing assets on a blockchain network.


An action or transfer on a blockchain network.


When a delegator decides to undelegate their AREA from a validator. This process takes 10 days. No rewards accrue during this period. This action cannot be stopped once executed.


When a delegator no longer wants to have their AREA bonded to a validator. This process takes 10 days. No rewards accrue during this period. This action cannot be stopped once executed.


The amount of time a validator is active in a given timeframe. Validators with low uptime may be slashed.


A participant in a blockchain network who verifies transactions.


A digital wallet application or service used to store, send, and receive cryptocurrencies.


A term referring to Web 3.0, supporting the development and use of decentralized applications (DApps).

Developed by the Areon Network Core Team. © 2024 All rights reserved.