Governance refers to the on-chain democratic decision-making process within a blockchain network. It determines how changes to the network's protocols and standards are proposed, debated, and implemented. Different blockchains have different governance models. On Telos, on-chain governance exists in several forms, including as a mechanism to determine the outcome of proposals and elections. Disputes may be resolved through governance, which is essential in terms of ensuring the smooth operation of the network.
Bridging refers to the process of transferring digital assets from one blockchain network to another. This process is necessary because, although there are many different blockchains, they each operate independently and cannot directly communicate with the others without a bridge. On Telos, users can either bridge between Telos Zero and tEVM, or they can choose to bridge assets between Telos and external networks and blockchains.
A block explorer is like a search engine, but for blockchain transactions. It allows users to view the details of individual blocks and transactions on a given network. Block explorers can be used to look up transaction histories, balances of addresses, the age of a particular block, and more. They provide transparency by allowing anyone to verify transactions and see the overall activity on the blockchain. Each network maintains its own block explorer, and Telos is no different, with native block explorers running continuously for both Telos Zero and tEVM.
Staking involves delegating cryptocurrency held in a wallet to support network operations like block validation, security and transactions. In return for staking tokens for set period of time, participants may receive additional tokens as rewards - similar to earning interest in a traditional bank account. With Telos, users can stake TLOS for varying time periods on either Telos Zero or tEVM, with the latter option also allowing them to earn additional sTLOS tokens that can be used in DeFi.
A crypto wallet is a digital tool that allows users to send, receive and store their digital assets. Cryptocurrency wallets can be software-based (on a computer or mobile device) or hardware devices (like a USB). These wallets interact with various blockchains to enable users to manage their crypto assets, conduct transactions and check their balances. Users can leverage several different wallets within the Telos ecosystem, including the native Telos Web Wallet and the widely used Anchor Wallet desktop and mobile app.
Front running is a process wherein network participants can jump the queue and have their transactions processed quicker than other users by upping the fee they are willing to pay. This process creates a less equitable and inclusive experience for all and can also be weaponized by bad actors for nefarious means. With Telos’s fixed gas fee structure, transactions are always processed on a first-come-first-served basis, as they should be.