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Glossary

API documentation is typically filled with jargon, acronyms, and many new terms. This glossary provides a list of terms and definitions related to Radom.

Agreement​

Agreements are created when a buyer signs a transaction with their private-key approving their subscription to or purchase of a product from a seller. Agreements contain the details of a subscription or purchase and the associated wallet addresses.

API​

API stands for Application Programming Interface. APIs enable applications to programmatically communicate with one another. When you make interactions with an application, requests are sent to a server which retrieves data, interprets it, and responds with the requested data. APIs simplify application development by supporting communication between applications without knowing necessarily how the other one was implemented. They allow companies to open access to their resources whilst maintaining security; spurring innovation and new business use-cases.

Authentication Type​

Authentication Type is the method of authentication used by a buyer to access products from a seller. Examples of authentication types include access tokens for APIs, public keys for decentralised applications and passwords for platforms.

An authentication type can be added to a product at creation and is submitted by buyers upon purchase, although entirely optional it is helpful for those who do not currently have a way of authenticating access to their service. For example, an API a seller wishes to sell without creating their own API management dashboard where sellers can generate an access token.

Buyer​

Buyers are users on Radom that subscribe to or purchase products, and in doing so, create agreements.

Charging Interval​

Charging interval references the per unit of block-time a buyer is charged for a respective subscription. Charging intervals are set by a seller in a product that has been set up with recurring payments and solidified in agreements when a buyer subscribes.

Cryptocurrency​

Cryptocurrencies, such as Bitcoin and Ethereum, are digital assets native to their respective blockchains which are used to pay for transaction fees and incentivise/reward validation of transactions through differing mechanisms of consensus.

Dashboard​

Radom's Dashboard is the portal sellers use to create products, set up their checkout, manage their profile, track and manage sales, and manage their funds.

Ethereum​

Ethereum is a decentralized proof-of-stake (Pos) blockchain that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. Transactions are sent from and received by user-created Ethereum accounts. A sender must sign transactions and spend Ether, Ethereum's native cryptocurrency, as a cost of processing transactions on the network.

Many blockchains have chosen to adopt Ethereum's approach to smart contracts, and many support the Ethereum Virtual Machine (EVM) itself. As a result Radom supports many of these chains, such as Arbitrum, Aurora, Avalanche, Binance Smart Chain, Fantom, Polygon, Metis, and Optimism with many more to come - ensuring you can offer a wide range of customer support.

Ether​

Ether is the native cryptocurrency for the Ethereum blockchain and network. It is used to pay transaction fees and as collateral by network validators.

JSON​

JSON stands for JavaScript Object Notation. Based on JavaScript object syntax, JSON represents structured data using a standard text-based format which is lightweight, easy to learn and easy to read. JSON is commonly used when sending data from a server to a web client to display data on a web application or web page.

Non-custody​

A non-custody wallet, otherwise known as a self-custody wallet, is a wallet generated by a user with private-keys owned by them and not owned by a third-party. Both buyers and sellers make use of non-custody wallets to interact with Radom's smart contract layer.

Pricing Model​

Pricing models are structured patterns that define the manner in which a buyer will be charged. Sellers define these pricing models when they create a product.

Product​

Products are structures stored on-chain which contain the pricing and resource details of a seller's goods or services, encompassing details such as the token used for payment, charging interval, pricing amount, information you wish to collect from a buyer, authentication type, etc.

Seller​

Sellers are users on Radom that create and manage products from the Radom Dashboard.

Self-custody​

Self-custody is the same concept as non-custody.

Stablecoin​

Stablecoins are tokens that maintain a peg with an equivalent fiat currency. USDC, USDT, DAI and GUSD are supported stablecoins on Radom.

Token​

Tokens are cryptographically secured digital assets that operate on an underlying blockchain which has its own native cryptocurrency.

USDC​

USDC stands for United States Dollar Coin. USDC is a stablecoin pegged to the United States dollar. It is managed by Circle.

USDT​

USDT stands for Tether, a stablecoin pegged to the United States dollar and managed by an organisation of the same name, see: Tether. The organisation has close ties to the bitfinex cryptocurrency exchange.

DAI​

A stablecoin that is kept as close to one United States dollar as possible through a system of smart contracts and the decentralized participants those contracts incentivize to perform maintenance and governance functions. Dai is maintained and regulated by MakerDAO, a decentralized autonomous organization (DAO) composed of the owners of its governance token, MKR, who may propose and vote on changes to certain parameters in its smart contracts in order to ensure the stability of Dai.

GUSD​

GUSD or Gemini Dollar is a regulated United States Dollar backed stablecoin managed by Gemini the same company behind the Gemini cryptocurrency exchange. The company was founded by the Winklevoss Twins in 2015.

Wallet Address​

Wallet addresses are identifiers, similar to a bank account number. Wallet addresses are created through mechanisms of public-private key cryptography. A wallet address is not the same thing as a public-key. Wallet addresses are produced by hashing a public-key.

Whitelist​

Whitelists are lists of wallet addresses that have been given permissions to see, and purchase or subscribe, to products.

Whitelisting​

Whitelisting is a security mechanism which involves adding a wallet address to a whitelist to approve their right of access to a product. When a seller creates a product, they have the ability to whitelist wallet addresses to restrict subscriptions and purchases to their products to wallets in the whitelist.