GLOSSARY

BLOCKCHAIN:

An irreversible software ledger that groups transactions into blocks and allows a network of nodes to validate these transactions.

COIN:

A digital currency, issued on a native blockchain.

CONSENSUS MODEL:

The methodology or protocol through which a network decides to validate transactions.

CRYPTOCURRENCY:

A digital currency enabled by cryptography.

CRYPTOGRAPHY:

The practice of secure communication techniques that allow only the sender and the intended recipient of a message to view its contents.

DECENTRALISED NETWORK:

A network that is governed by independent nodes, ensuring that no single entity or group of nodes can influence the outcome of a transaction.

DISTRIBUTED LEDGER TECHNOLOGY (DLT):

A geographically distributed spread of nodes that validate a transaction entered into a ledger.

NODES:

Computers or servers connected to the blockchain network, meeting certain minimal requirements in terms of processing power and security protocols.

PROOF OF AUTHORITY (PoA):

A type of cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain.

PROOF OF STAKE (PoS):

A type of cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain, where validators are chosen based on the number of coins they hold and are willing to 'stake' as collateral.

PERMISSIONED SYSTEM:

A network of node operators that are invited based on minimum reputational requirements.

PERMISSIONLESS SYSTEM:

A network of node operators where any person or entity can join the network.

REGISTERED MERCHANT:

A valid merchant that has accepted the terms and conditions of THAT, and has been registered and published in the business directory of the THAT app.

THAT:

Depending on the context, THAT refers to the THAT app (native iOS/Android app), THAT coin (the digital asset/cryptocurrency), THAT blockchain (the blockchain of THAT), or THAT COIN PTY LTD (the company/organisation).

TOKEN:

A digital currency, issued on a non-native (third-party) blockchain.

VALIDATOR NODE:

A special type of node that participates in the consensus process in a blockchain network.

UTILITY COIN:

A coin created and minted for the purpose of being utilised in a commercial use case or business model, which does not promise an interest rate, dividend, or equity share of an entity.