Terminology
Basic terms to be familiar with
- Tatum - REST API cloud service. Tatum runs the core of its ecosystem on the cloud. It is possible to set up an on-premise version of the API on a custom infrastructure.
- Tatum library/client library - a library written in Javascript or other supported programming languages that makes integration with Tatum even easier. This is an open-source tool available for everyone.
- Tatum KMS (Key Management System) - an open-source application responsible for secure interactions with blockchain wallets/private keys.
- Tatum Middleware - an open-source API server that runs locally on the developer's custom infrastructure. It is used for secure interactions with blockchain wallets when KMS is not an option, and there is no Tatum library available for the developer's chosen programming language.
- Client - a user of an application built using Tatum. It could be a user of a crypto bank or a smart meter in a blockchain-powered smart grid.
- Wallet mnemonic - a set of 12-24 words from which blockchain addresses and private keys are generated. A mnemonic must not be shared or revealed to any third parties. Doing so may result in the theft of all your assets.
- Custodial wallet - a type of wallet where the application provider is the owner of the private keys and blockchain assets. They can perform operations with the assets on behalf of their customers.
- Non-custodial wallet - a type of wallet where customers own the private keys and blockchain assets. Only the owners of the keys can perform operations with the assets.
- Address/blockchain account - a blockchain account where crypto assets are stored. This is publically available information that can be shared.
- Private key - a secret key to a public blockchain address, must not be shared.
- Blockchain transaction - an operation between two blockchain addresses that transfers assets or data.
- Block - the base building block of the blockchain. Transactions are included in the block. Blocks are chained one after another and form a blockchain.
- Virtual layer - Tatum's emulator of blockchain functionalities. It is possible to perform transactions between accounts inside the virtual layer without any blockchain integration.
- Virtual account - an account created in the virtual layer. It is a virtual envelope that holds balance information and frozen or active flags.
- Virtual customer - a representation of the application client, which is built on top of Tatum. Customers can have multiple virtual accounts that can be disabled or deactivated.
- Virtual transaction - a transaction between two virtual accounts that transfers value or meta-information.
- Virtual currency - currency created inside a virtual account. It is possible to create a virtual account of a blockchain or virtual currency. Virtual currency is usually used to emulate FIAT currencies within Tatum.
- Off-chain - the Tatum scaling solution built on top of the blockchain and virtual account functionalities.
- Off-chain address - a blockchain address connected to a virtual account. When the blockchain address is attached to the virtual account, blockchain transactions are automatically synchronized to the virtual account.
- Deposit - an incoming blockchain transaction that occurs at the off-chain address.
- Off-chain transaction/withdrawal - a transaction between a virtual account and a blockchain address. This is an operation where crypto assets are transferred from a Tatum-managed blockchain wallet or private key to the outside world.
Last modified 1yr ago