>>>The Project Hydro Glossary of Terms and Definitions
The Project Hydro Glossary of Terms and Definitions2019-09-17T13:05:23+00:00

To help the Project Hydro community with some common terms you might encounter we have created a glossary of terms and definitions, along with relevant links.

2FA: see Two-Factor Authentication

API: see Application Programming Interface

Application Programming Interface: A set of subroutine definitions, communication protocols, and tools for building software. In general terms, it is a set of clearly defined methods of communication among various components. A good API makes it easier to develop a computer program by providing all the building blocks, which are then put together by the programmer (from Wikipedia)

Authentication: The process or action of proving or showing something to be true, genuine, or valid (from Oxford Dictionaries)

Blockchain: A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly (from Investopedia)

Cryptocurrency: A digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets (from Wikipedia)

DAO: See Decentralized Autonomous Organization

dApp: An application run by many users on a decentralized network with trustless protocols (from Wikipedia)

Decentralized Autonomous Organization: A decentralized autonomous organization (DAO) is an organization represented by rules encoded as a computer program that is transparent, controlled by shareholders and not influenced by a central government. A DAO’s financial transaction record and program rules are maintained on a blockchain (from Wikipedia)

Decentralisation: The process by which the activities of an organization, particularly those regarding planning and decision-making, are distributed or delegated away from a central, authoritative location or group (from Wikipedia)

Drive: A dApp being developed by Hydro Labs that will allow users to store, stamp, sign and send files securely on or off the blockchain.

ERC-1484: An identity management and aggregation framework on the Ethereum blockchain (see GitHub)

ERC-20: A technical standard used for smart contracts on the Ethereum blockchain for implementing tokens. ERC stands for Ethereum Request for Comment, and 20 is the number that was assigned to this request (from Wikipedia)

ERC-725: A proposed standard for blockchain-based identity (see ERC-725 Alliance)

ETH: See Ethereum

Ethereum: An open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality (from Wikipedia)

Fintech: A business that aims at providing financial services by making use of software and modern technology (from Fintech Weekly)

Hail: Phase 6 of the Hydro Roadmap: Security Tokenisation (see GitHub)

HCDP: See Hydro Community Development Program

Hydro: A decentralized ecosystem consisting of proprietary smart contracts, libraries, APIs, apps, a dApp store, and the HYDRO token (see ProjectHydro.org)

HYDRO: An ERC-20 token that runs the Hydro ecosystem

Hydro Community Development Program: A program to encourage the decentralisation and growth of Project Hydro (see GitHub)

Hydro dApp Store: A dApp store will allow developers to deploy dApps in a similar way to Google Play and the Apple App store (see Medium)

Hydro Labs: a company developing products that are powered by Hydro, e.g. Pay, Vault, & Drive.

Hydrogen: The Hydrogen Technology Corporation is the company who created the Hydro ecosystem and who are a developer of enterprise level Fintech products built on top of Hydro e.g. Molecule (see hydrogenplatform.com)

Ice: Phase 3 of the Hydro roadmap: a blockchain-based service that can stamp documents & contracts and record document-related events (see the Ice developer page)

Identity: The identity of a person or place is the characteristics they have that distinguish them from others (from Wikipedia)

Interoperability: The ability of computer systems or software to exchange and make use of information. (from Oxford Dictionaries)

Layer 1: The ethereum blockchain (see ethereum.org)

Layer 2: Hydro Protocols — a series of open-source smart contracts, dApps and a dApp Store, built on top of layer 1, ethereum (see projecthydro.org)

Layer 3: Products built by companies that choose to build on top of layers 1 & 2, e.g. The Hydrogen Technology Corporation and Hydro Labs

Machine Learning: A field of artificial intelligence that uses statistical techniques to give computer systems the ability to “learn” (e.g., progressively improve performance on a specific task) from data, without being explicitly programmed (from Wikipedia)

Metatransactions:

MFA: See Two-Factor Authentication

Mist: Phase 5 of the Hydro roadmap: machine learning (see the Mist developer page)

Molecule: Developed by Hydrogen and built on Hydro, Molecule is an enterprise scale platform of easy to use APIs, documentation, connectors, and integrations that covers decentralized identity, asset and security tokenization, crypto payments, and international remittance (see hydrogenplatform.com).

Multi-Factor Authentication: See Two-Factor Authentication

Open source: A term denoting that a product includes permission to use its source code, design documents, or content (from Wikipedia)

Pay: A mobile app developed by Hydro Labs that allows gasless P2PB2B, Point of Sale,  and Remittance transactions.

Raindrop: Phase 1 of the Hydro roadmap: a 2-Factor authentication system secured bythe Hydro blockchain (see the Raindrop developer page)

Resolver: Resolvers are dApps and/or smart contracts that house data tied to a given user (see GitHub)

Security Token: A digital token of cryptocurrency that is an investment in a company (see Hackernoon)

Smart Contract: Computerised transaction protocols that execute terms of a contract (from Investopedia)

Snowflake: Phase 2 of the Hydro roadmap: a unique and immutable ‘digital fingerprint’ that is stored on the Hydro blockchain (see the Snowflake developer page)

Tide: Phase 4 of the Hydro roadmap: payments and transactions on the Hydro blockchain (see the Tide developer page)

Two-Factor Authentication: A method of confirming a user’s claimed identity in which a computer user is granted access only after successfully presenting two or more pieces of evidence (or factors) to an authentication mechanism (from Wikipedia)

Tokenization: the process of converting some form of asset into a token that can be moved, recorded, or stored on a blockchain system (See Blockonomi)

Utility Token: A digital token of cryptocurrency that is not an investment but allows access to the product or service of a company (see Hackernoon)

Vault: Developed by Hydro Labs, Vault is a non-custodial wallet cryptocurrency wallet that has blockchain based 2-Factor Authentication built into the smart contract (see projecthydro.org)

Web 3.0: The next progression in how web based content is created and interacted with, via decentralisation, open source protocols, and the use of AI and Machine Learning (see Lifeboat.com)

Developer Update: September 3rd 2019

Hydro Pay: fast, feeless, payments for everyone

Hydro Labs Launches Enterprise Solutions

One Comment

  1. Avatar
    MrCryptoKrabs March 19, 2019 at 12:39 pm - Reply

    Love this!

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