Tag: Lean

Causation | Glossary

Prashant MJ Leave a comment

Definition:

Causation is an act or process of causing something, a relationship that describes and analyses cause and effect.

This is the capacity of one variable to influence another variable. The first variable bring the second into existence or may cause the incidence of the second viable to fluctuate.

A correlation between variables, however, does not automatically mean that the change in one variable is the cause of the change in the values of the other variable. Causation indicates that one event is the result of the occurrence of the other event; i.e. there is a causal relationship between the two events.

Further Reading:

https://en.wikipedia.org/wiki/Causation
https://dictionary.cambridge.org/dictionary/english/causation

 

Blockchain | Glossary

Prashant MJ Leave a comment

Definition:

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. The first blockchain was conceptualised by a person known as Satoshi Nakamoto in 2008.

Each block typically contains a cryptographic hash of the previous block, a timestamp, and transaction data. A blockchain is a decentralised, distributed and public digital ledger that is used to record transactions across many computers so that the record cannot be altered retroactively without the alteration of all subsequent blocks and the consensus of the network. This allows the participants to verify and audit transactions inexpensively. A blockchain database is managed autonomously using a peer-to-peer network and a distributed timestamping server. They are authenticated by mass collaboration powered by collective self-interests. The result is a robust workflow where participants’ uncertainty regarding data security is marginal.

Further Reading:
https://en.wikipedia.org/wiki/Blockchain