The Codex Glossary — Basics of Blockchain
You don’t have to understand blockchain to easily use The Codex Registry. Just refer to the terms below to get an understanding of the basics of blockchain and the Codex platform.
The Codex Glossary
Codex Records: Digital provenance records — these secure, private tokens represent physical or digital items and store provenance information regarding the item’s history and identity. Easily create a Codex Record here.
The Codex Registry: A private title registry of all Codex Records secured by blockchain technology.
CodexCoin: An ERC-20 token, the CodexCoin is the native token to the Codex Protocol. CodexCoins can be used to make amendments to Codex Records, CodexCoin must be used.
Ethereum: Codex is built on the Ethereum blockchain; a public, decentralized platform that features smart contract functionality.
Smart Contract: A computer program intended to facilitate, verify or enforce negotiation of performance of a contract.
Community Pool: The community pool is the tokens from which grants can be made for projects that will enhance the Codex ecosystem.
Seller: A seller is either an owner of the item who wishes to sell it, or an intermediary selling on behalf of an owner.
Bidder: A bidder participates in an auction to try to win the item.
Biddable: Biddable is the first application built on The Codex. Biddable is a deposit-escrow system which allows collectors to bid anonymously at auction.
NFT: Non-fungible tokens, or ERC-721s, are tokens that represent a unique asset and therefore are not interchangeable. Each Codex Record is a unique NFT.
The Codex API: The API enables marketplaces and developers to create OAuth2 applications that can programmatically create and manage Codex Records.
Verified Accounts: Creators, sellers, and industry validators provide documentation through their certified accounts. They can then participate in the validation of provenance documentation, and item owners can make use of their reputation to validate the authenticity of an item.
Written by: Corinne Moshy
Codex is the leading decentralized asset registry for the $2 trillion arts & collectibles (“A&C”) ecosystem, which includes art, fine wine, collectible cars, antiques, decorative arts, coins, watches, jewelry, and more. Powered by the CodexCoin native token, the Codex Protocol is open source, allowing third-party players in the A&C ecosystem to build applications and utilize the title system. Codex has launched two initial decentralized apps (beta), Biddable, providing access to unique assets for crypto-holders, and Codex Viewer, to create and manage blockchain identities for your unique assets. The Codex Protocol and CodexCoin will be adopted as the only cryptocurrency by The Codex Consortium, a group of major stakeholders in the A&C space who facilitate over $6 Billion in sales to millions of bidders across tens of thousands of auctions from 5,000 auction houses in over 50 countries.
For more information on Codex Protocol, visit https://www.codexprotocol.com