A blockchain is a distributed ledger shared across all nodes in a network, composed of an immutable chain of data blocks. It enables the recording and transfer of data, ownership rights, and digital assets in a secure, transparent, and trustless manner (i.e., without requiring intermediaries or a central authority).
Blockchain, Token, Smart Contract
Glossary
Blockchain
Smart Contract
Smart contracts represent the digital implementation of agreements between multiple parties. They are computer programs running on a blockchain that automatically execute the terms of a contract when predetermined conditions are met.
Civic Blockchain
An ecosystem where anyone can create and exchange digital tokens representing local resources and financial tools to support participatory processes, as well as social, collaborative, and community-based economies.
Tokenization
(Smart contract + Token)
The digital representation of values (tokens) used to manage value-driven processes and interactions across different entities. Through smart contracts, tokens can be transferred and their behaviors programmed, extending utility well beyond conventional cryptocurrencies.
Tokens
Digital representations of generic assets on a blockchain—such as 1 kWh of solar energy (utility token), a unit of currency (e.g., Bitcoin), equity in a company (security token), or a contribution reward in a crowdfunding campaign.
Fungible Tokens: Identical, interchangeable, divisible, and aggregable.
Non-Fungible Tokens (NFTs): Indivisible units, each possessing unique attributes.
Commonshood
Simple, secure, innovative: CommonsHood is the wallet app that enables networks and communities to represent and exchange values without intermediaries, mitigating risks such as human error, third-party fraud, and disputes. Tell us about your context, and we will help enhance your community interactions!
