BTC $81,439 
ETH $2,415 
USDT $0.9990 
BNB $714.75 
XRP $1.30 
USDC $0.9997 
SOL $103.59 
TRX $0.3345 
FIGR_HELOC $1.03 
ZEC $1,131 Crypto terms explained
This official glossary explains common crypto and Ethereum-specific terms for new learners with no prior blockchain experience. It covers core concepts including blockchain, nodes, Ether (ETH), the Ethereum Virtual Machine (EVM) and smart contracts, using plain language to make foundational blockchain technology accessible for anyone exploring the crypto space. All definitions are sourced directly from official Ethereum documentation.
Core Blockchain Basics
A blockchain is a public database shared across a network of computers called nodes. Data is stored in consecutive groups known as "blocks", which are cryptographically linked, or "chained", together. Altering data in one block would require changing all subsequent blocks and gaining consensus from the entire network, making the blockchain record highly tamper-resistant. All nodes must agree on every new block and the full chain to maintain a single shared record.
Ethereum Network Structure
Ethereum is a blockchain with an embedded global computer called the Ethereum Virtual Machine (EVM). Every node on the Ethereum network stores a copy of the EVM's current state, and all participants agree on this shared state. Users can broadcast requests for the EVM to execute code, and successful execution changes the EVM's state, which is then recorded on the blockchain.
Ether (ETH)
Ether (ETH) is the native cryptocurrency of the Ethereum network. ETH is used to pay for computation and code execution on the EVM, reward validators who propose and verify new blocks, stake as collateral to secure the network against dishonest behavior, and weigh votes for new block proposals.
Smart Contracts
Smart contracts are reusable snippets of code deployed to the EVM. They act as automated scripts that execute when specific conditions are met, with no need for third-party intermediaries. Developers use smart contracts to build decentralized apps and services including marketplaces, financial instruments and games. Users pay ETH fees to interact with deployed smart contracts.
Official sources used on this page
2.00 sources
Frequently asked questions
What is a node in a blockchain network?
A node is a physical machine that stores a copy of the Ethereum Virtual Machine (EVM) state. Nodes communicate with each other to share updates to the EVM state and new state changes, and users can broadcast code execution requests via any node.
What is the Ethereum Virtual Machine (EVM)?
The EVM is the global virtual computer whose state is stored and agreed on by all participants in the Ethereum network. Any user can request the execution of arbitrary code on the EVM, and valid execution changes the EVM's state, which is then committed to the blockchain.
What are smart contracts used for?
Smart contracts are public, reusable code snippets deployed to the EVM. Developers use them to build decentralized user-facing apps and services such as marketplaces, financial instruments and games. Users interact with smart contracts by paying ETH fees to execute their code.
Sources
- ethereum.org /glossary/
- ethereum.org /developers/docs/intro-to-ethereum/
This guide is for education only and is not financial, legal or tax advice.