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Network Working Group                                        H. Nakajima
Internet-Draft                                               Mercari R4D
Intended status: Informational                               M. Kusunoki
Expires: January 3, 2019                                             JDD
                                                                 K. Hida
                                                                 Y. Suga
                                              Advanced Security Div, IIJ
                                                              T. Hayashi
                                                           July 02, 2018

                      Terminology for Crypto Asset


   This document provides terminology used in crypto asset.

Status of This Memo

   This Internet-Draft is submitted in full conformance with the
   provisions of BCP 78 and BCP 79.

   Internet-Drafts are working documents of the Internet Engineering
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   This Internet-Draft will expire on January 3, 2019.

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   Copyright (c) 2018 IETF Trust and the persons identified as the
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   include Simplified BSD License text as described in Section 4.e of
   the Trust Legal Provisions and are provided without warranty as
   described in the Simplified BSD License.

Table of Contents

   1.  Introduction  . . . . . . . . . . . . . . . . . . . . . . . .   2
   2.  Conventions and Definitions . . . . . . . . . . . . . . . . .   2
   3.  Terms and Definitions . . . . . . . . . . . . . . . . . . . .   2
   4.  Security Considerations . . . . . . . . . . . . . . . . . . .   5
   5.  IANA Considerations . . . . . . . . . . . . . . . . . . . . .   5
   6.  References  . . . . . . . . . . . . . . . . . . . . . . . . .   5
     6.1.  Normative References  . . . . . . . . . . . . . . . . . .   5
     6.2.  Informative References  . . . . . . . . . . . . . . . . .   5
   Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . .   6
   Authors' Addresses  . . . . . . . . . . . . . . . . . . . . . . .   6

1.  Introduction

   Our goal with this document is to improve our understanding on a set
   of terms which frequently used in documents which related to crypto
   asset.  Mutual understanding about terminology may help to reach a
   consensus on issues we're trying to solve.

2.  Conventions and Definitions

   The key words "MUST", "MUST NOT", "REQUIRED", "SHALL", "SHALL NOT",
   "OPTIONAL" in this document are to be interpreted as described in BCP
   14 [RFC2119] [RFC8174] when, and only when, they appear in all
   capitals, as shown here.

3.  Terms and Definitions

   address:  An identifier to represent a public key in a blockchain

   asymmetric cryptography:  Defined in [RFC4949] as "A modern branch of
      cryptography (popularly known as "public-key cryptography") in
      which the algorithms use a pair of keys (a public key and a
      private key) and use a different component of the pair for each of
      two counterpart cryptographic operations (e.g., encryption and
      decryption, or signature creation and signature verification). "

   block:  A basic unit of the blockchain.  A set of transactions on a
      blockchain which contains a cryptographic hash value of previous

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   blockchain:  A digital ledger about transactions for crypto assets.

   confirmation:  (For transactions,) checking correctness of a
      transaction in the mainchain.

   consensus:  Coincidence the way of thinking.

   crypto assets:  Cryptographically guaranteed value.

   deterministic wallet:  See: wallet

   digital signature:  Defined in [RFC4949] as "A value computed with a
      cryptographic algorithm and associated with a data object in such
      a way that any recipient of the data can use the signature to
      verify the data's origin and integrity."

   distributed ledger:  A distributed database about crypto assets with
      agreed processed.

   double spending:  Defined in [MasteringBitcoinOnline] as "result of
      successfully spending some money more than once."

   fiat money:  Currency which has been established by government or
      other authorities.

   fork:  Defined in [MasteringBitcoinOnline] as "Fork, also known as
      accidental fork, occurs when two or more blocks have the same
      block height, forking the block chain.  Typically occurs when two
      or more miners find blocks at nearly the same time."

   genesis block:  An initial block on a blockchain.  Genesis block may
      differ to distinguish chains.

   hard fork:  See: fork

   hash value:  Defined in [RFC4949] as "The output of a hash function."

   hash rate:  Amount of a hash value which node is able to generate per
      unit of time (generally per second)

   hierarchy deterministic wallet:  See: wallet

   mining:  A process to append a received transaction to a block by
      validating a transaction with agreed consensus rules such as
      proof-of-work and proof-of-stake.  Miner is a network node which
      contributes its resources to mining.

   miner:  See: mining

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   multisignature:  Defined in [MasteringBitcoinOnline] as "requiring
      more than one key to authorize a bitcoin transaction".  In this
      scope, transaction is not limited to bitcoin transaction.

   node:  A device that connects to blockchain network.

   off-chain transaction:  The movement of value outside of the

   on-chain transaction:  The movement of value on the blockchain

   orphan block:  Defined in [MasteringBitcoinOnline] as "Blocks whose
      parent block has not been processed by the local node, so they
      can't be fully validated yet."

   permissioned-chain:  A public blockchain that only specified members
      can join the blockchain network.

   permissionless-chain:  See: permissioned-chain

   public-chain:  An open blockchain that anyone can retrieve all of
      blocks and transactions without special privileges.

   public key:  Defined in [RFC4949] as "The publicly disclosable
      component of a pair of cryptographic keys used for asymmetric

   private-chain:  In contrast with "public-chain", A closed blockchain
      that only permissioned users can access blocks and make

   private key:  Defined in [RFC4949] as "The secret component of a pair
      of cryptographic keys used for asymmetric cryptography."

   proof-of-stake:  Defined in [MasteringBitcoinOnline] as "method by
      which a cryptocurrency blockchain network aims to achieve
      distributed consensus."

   proof-of-work:  Defined in [MasteringBitcoinOnline] as "A piece of
      data that requires significant computation to find."

   reorganization:  Invalidation process of branched blockchains.

   reward:  Value by the blockchain network which assigned to a miner
      who successfully validates a transaction.  Rules may differ among
      blockchains and consensus rules.

   side-chain:  See off-chain

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   smart contract:  A guaranteed digital procedure that automatically
      enforced on a blockchain network.

   soft fork:  See: fork

   token:  An unforgeable data object.

   transaction:  Defined in [MasteringBitcoinOnline] as "More precisely,
      a transaction is a signed data structure expressing a transfer of

   validation:  Checking correctness and consistency of given data.

   validated:  See: validation

   validator:  See: validation

   wallet:  A set of key pair composed of public key and private key.

4.  Security Considerations

   This document defines terminology for crypto asset.  Therefore, there
   is no security considerations.

5.  IANA Considerations


6.  References

6.1.  Normative References

   [RFC2119]  Bradner, S., "Key words for use in RFCs to Indicate
              Requirement Levels", BCP 14, RFC 2119,
              DOI 10.17487/RFC2119, March 1997,

   [RFC8174]  Leiba, B., "Ambiguity of Uppercase vs Lowercase in RFC
              2119 Key Words", BCP 14, RFC 8174, DOI 10.17487/RFC8174,
              May 2017, <https://www.rfc-editor.org/info/rfc8174>.

6.2.  Informative References

              Antonopoulos, A., "Mastering Bitcoin", March 2018,

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   [RFC4949]  Shirey, R., "Internet Security Glossary, Version 2",
              FYI 36, RFC 4949, DOI 10.17487/RFC4949, August 2007,


   Thanks to members of the Virtual Currency Governance Task Force for
   help and feedback.

Authors' Addresses

   Hirotaka Nakajima
   Mercari, Inc. R4D
   Roppongi Hills Mori Tower 18F
   6-10-1 Roppongi
   Minato, Tokyo  106-6118

   Email: nunnun@mercari.com

   Masanori Kusunoki
   Japan Digital Design, Inc.

   Email: masanori.kusunoki@japan-d2.com

   Keiichi Hida
   Japan Blockchain Association

   Email: hida@jba-web.jp

   Yuji Suga
   Advanced Security Division, Internet Initiative Japan Inc.
   Iidabashi Grand Bloom,
   2-10-2 Fujimi
   Chiyoda, Tokyo  102-0071

   Email: suga@iij.ad.jp

   Tatsuya HAYASHI
   Lepidum Co. Ltd.

   Email: hayashi@lepidum.co.jp

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