Blockchain Components Glossary:
Genesis Block: Genesis is the foundational block of a blockchain, and therefore your cryptocurrency blockchain starts from this block. It's also called Block 0, In a blockchain, each block is related to the previous block.
Hash: A hash is the most common term in blockchain technology. Each block in the blockchain generates a hash that is used as a unique signature to connect to the subsequent block. Hash helps to save a large amount of data, since it is stored in a cryptogenic order. Data in a massive blockchain can be easily traced when needed using the unique hash ID or corresponding timestamps. It can further help validate transactions once the cryptographic signatures are defined.
Proceedings: It is the record of each entry that takes place in the digital wallet similar to the bank updates you receive in your bank account. All digital inputs are coded instructions received by a sub-wallet. For example, if you receive some GSYS from another account, you will receive an update about this particular transaction in your cryptocurrency wallet.
Gas Rates: Gas refers to the fee required to successfully complete a transaction or execute a smart contract on the blockchain platform. It is also a remuneration given to validator and support nodes for verifying and validating transactions on the blockchain. The gas rate will be at a fixed rate, you may need to pay more gas fees if the network is busy or loaded with a high volume of block transactions. In such cases, you can consider paying more gas fees and have your transaction appear at the top of the node's validation list.