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Glossary

Technical terms and concepts used throughout the Inception documentation.

A​

Attestation​

A validator's vote on the current state of the blockchain. Validators attest to the head of the chain they consider valid and vote on checkpoint blocks for finality. Attestations occur every epoch (~6.4 minutes per validator).

APY (Annual Percentage Yield)​

The annualized rate of return for staking. For validators, this includes block rewards, transaction fees, and MEV opportunities. APY varies based on network conditions and validator performance.

B​

Base Fee​

The minimum gas price required for a transaction to be included in a block. Calculated algorithmically based on network congestion (EIP-1559). The base fee is burned, permanently removing INCP from circulation.

Beacon Chain​

The consensus layer chain that coordinates validators, manages attestations, and implements finality. The beacon chain runs in parallel with the execution layer.

Block​

A batch of transactions grouped together and added to the blockchain. Inception produces one block every ~12 seconds (one per slot).

Block Proposer​

The validator selected to propose a block for a specific slot. Proposers earn extra rewards including priority fees and MEV.

Bootnode​

A special node that helps new nodes discover peers and join the network. Bootnode addresses are hardcoded or provided via configuration.

Bridge​

A system that enables assets to move between different blockchains. The Inception Bridge allows transferring assets between Ethereum and Inception using a lock-and-mint mechanism.

C​

Checkpoint​

An epoch boundary block that validators vote on for finality. When two consecutive checkpoints are justified, the first becomes finalized and irreversible.

Checkpoint Sync​

A method of syncing a beacon node from a recent finalized checkpoint instead of from genesis, significantly reducing sync time. Also called "weak subjectivity sync."

Chain ID​

A unique identifier for a blockchain network. Inception's Chain ID is 1805 (decimal) or 0x70D (hexadecimal).

Consensus Layer (CL)​

The proof-of-stake layer that manages validators, attestations, and finality. Runs the beacon chain using clients like Prysm.

Circuit Breaker​

An automated safety mechanism that pauses bridge operations if suspicious activity or anomalies are detected, protecting user funds.

D​

Deposit Contract​

A smart contract where validators deposit 32 INCP to activate their validator. The deposit contract is on the execution layer but monitored by the beacon chain.

Deflationary​

A property where total supply decreases over time. INCP is deflationary because base fees are burned with every transaction while supply is capped.

E​

Engine API​

The JSON-RPC interface that allows the consensus layer to communicate with the execution layer. Secured via JWT authentication on port 8551.

EIP-1559​

Ethereum Improvement Proposal 1559 introduces a base fee that's algorithmically adjusted and burned, plus an optional priority fee (tip) for faster inclusion.

EIP-2930​

Ethereum Improvement Proposal 2930 introduces optional access lists to specify which accounts and storage keys a transaction will access, optimizing gas costs.

Epoch​

A period of 32 slots (~6.4 minutes). Epochs are used for validator duties, committee assignments, and checkpoint finality voting.

EVM (Ethereum Virtual Machine)​

The runtime environment for smart contracts. Inception's execution layer runs the EVM, ensuring compatibility with Ethereum smart contracts.

Execution Layer (EL)​

The layer that handles transaction processing, smart contract execution, and maintains account state. Runs clients like Geth.

F​

Finality​

The point at which a block becomes irreversible. On Inception, finality is achieved in 2 epochs (~12.8 minutes) when two consecutive checkpoints are justified.

Fork​

A divergence in the blockchain. In proof-of-stake, the fork choice rule (LMD GHOST) determines the canonical chain. Hard forks are protocol upgrades requiring all nodes to update.

G​

Gas​

A unit measuring computational work required to execute transactions or smart contracts. Users pay gas fees in INCP.

Gas Limit​

The maximum amount of gas a block can contain (30M on Inception) or the maximum a user is willing to spend on a transaction.

Gasper FFG (Friendly Finality Gadget)​

The consensus mechanism combining LMD GHOST (fork choice) and Casper FFG (finality). Used by Inception and Ethereum.

Genesis Block​

The first block in a blockchain, created at network launch. Contains initial state and configuration.

Geth (Go Ethereum)​

An Ethereum execution client written in Go. Used by Inception validators for the execution layer.

H​

Hexadecimal (Hex)​

Base-16 number system using digits 0-9 and letters A-F. Often used for addresses, chain IDs, and hashes (e.g., 0x70D).

Hard Fork​

A protocol upgrade that's not backward-compatible. All nodes must upgrade to follow the new rules. Requires governance approval on Inception.

I​

Inactivity Leak​

A mechanism that gradually reduces the stake of offline validators during periods when the chain can't finalize. Allows the network to recover finality even if many validators are offline.

INCP​

Inception's native cryptocurrency. Used for gas fees, validator staking, and governance. Fixed supply of 50 billion.

J​

JSON-RPC​

A remote procedure call protocol using JSON. Used to interact with blockchain nodes via HTTP or WebSocket.

JWT (JSON Web Token)​

An authentication standard used to secure the Engine API communication between execution and consensus layers.

K​

Keystore​

An encrypted file containing a validator's private key. Protected by a password and used by validator clients to sign attestations and blocks.

L​

Launchpad​

A user-friendly web interface for making validator deposits. Guides users through key generation and deposit submission.

LMD GHOST (Latest Message Driven Greediest Heaviest Observed SubTree)​

The fork choice rule that determines which chain is canonical by selecting the branch with the most accumulated attestations.

Lock-and-Mint​

A bridge mechanism where assets are locked on the source chain and equivalent wrapped assets are minted on the destination chain.

M​

Mainnet​

The production blockchain network (as opposed to testnets). Inception Mainnet is the live network with real value.

MEV (Maximal Extractable Value)​

Additional value validators can extract by reordering, including, or excluding transactions within blocks. Previously called "Miner Extractable Value."

Mempool​

The pool of pending transactions waiting to be included in blocks. Validators select transactions from the mempool when proposing blocks.

Mnemonic (Seed Phrase)​

A list of words (typically 12 or 24) that serves as a backup for cryptocurrency wallets. Anyone with the mnemonic can access the wallet's funds.

P​

Peer​

Another node connected to your node in the peer-to-peer network. Nodes share blocks and transactions with peers.

Priority Fee (Tip)​

An optional fee added to transactions to incentivize faster inclusion. Goes directly to the block proposer.

Proof-of-Stake (PoS)​

A consensus mechanism where validators stake cryptocurrency to secure the network. More energy-efficient than Proof-of-Work.

Proposer​

See "Block Proposer."

Prysm​

A consensus client implementation written in Go. Used by Inception validators for the consensus layer.

Q​

Quorum​

The minimum participation required for a governance vote to be valid. Inception requires 4% of total INCP supply to vote for standard proposals.

R​

RPC (Remote Procedure Call)​

A protocol allowing external applications to interact with blockchain nodes. Inception uses JSON-RPC over HTTP and WebSocket.

S​

Slashing​

A severe penalty applied to validators for provably malicious behavior such as double signing or surround voting. Can result in loss of up to 100% of the staked 32 INCP.

Slot​

A 12-second period during which a validator may be selected to propose a block. There are 32 slots per epoch.

Smart Contract​

Self-executing code deployed on the blockchain. Executes automatically when conditions are met.

Solidity​

The most popular programming language for writing Ethereum-compatible smart contracts.

Staking​

The process of depositing cryptocurrency (32 INCP for Inception) to become a validator and earn rewards for securing the network.

Sync Committee​

A randomly selected group of 512 validators that help light clients sync efficiently. Validators earn extra rewards when serving on sync committees (~27 hour periods).

T​

Testnet​

A blockchain network used for testing, separate from mainnet. Uses test tokens with no real value.

Timelock​

A mandatory waiting period after a governance proposal is approved before it can be executed. Allows time for review and emergency intervention if needed.

Transaction​

An action that changes the blockchain state, such as transferring tokens or executing a smart contract function. Requires gas fees.

TPS (Transactions Per Second)​

A measure of blockchain throughput. Inception sustains ~35 TPS and can peak at ~120 TPS.

V​

Validator​

A network participant who stakes 32 INCP to propose blocks and attest to chain state. Earns rewards for honest participation and faces penalties for misbehavior.

Vesting​

A schedule that gradually releases locked tokens over time. Common for team allocations and early investors to ensure long-term alignment.

W​

Wallet​

Software or hardware that stores private keys and allows users to manage cryptocurrency. Examples include MetaMask, Ledger, and Trezor.

Wei​

The smallest unit of INCP (and Ether). 1 INCP = 1,000,000,000,000,000,000 wei (10^18 wei).

WebSocket (WS)​

A protocol for real-time, bidirectional communication. Used for subscribing to blockchain events and receiving live updates.

Withdrawal​

The process of exiting as a validator and retrieving your 32 INCP stake plus accumulated rewards.

Wrapped Token​

A representation of an asset from another blockchain. For example, wETH on Inception represents ETH locked on Ethereum.

WS Checkpoint​

"Weak Subjectivity" checkpoint — a recent finalized state that new nodes can sync from, verified through social consensus and multiple trusted sources.

Numbers​

32 INCP​

The exact amount required to activate a validator on Inception. This stake is locked while validating and subject to rewards and penalties.

1805​

Inception's Chain ID in decimal format. Used when configuring wallets and development tools.

0x70D​

Inception's Chain ID in hexadecimal format. Equivalent to 1805 in decimal.

50 Billion​

The maximum supply of INCP tokens (50,000,000,000). Fixed cap with no inflation.

Need More Information?​

Status Updates

For live endpoints, current parameters, and network updates, always check: https://inceptionera.com/status