# Raiden Glossary¶

available balance
The available balance $$B_a$$ of a channel participant is $$B_a = B_n - B_l$$.
balance proof
Balance proof is any kind of message we use in order to cryptographically prove to our counterparty (or them to us) that their balance has changed and that we have received a transfer.
channel capacity
A channel’s capacity is the sum of the total deposits of both its participants. It is also the sum of the channel participants net balance.
counterparty
The counterparty of a channel is the other participant of the channel that is not ourselves.
DirectTransfer
A direct transfer is a non-locked transfer, which means a transfer that does not rely on a lock to complete. Once they are sent they should be considered as completed.
hashlock
A hashlock is the hashed secret that accompanies a locked message: sha3(secret)
initiator
In a mediated transfer the initiator of the transfer is the raiden node which starts the transfer
lock expiration
The lock expiration is the highest block_number until which the transfer can be settled.
locked balance
The locked balance $$B_l$$ of a channel participant is the sum of the locked amount for all pending transfers $$T_p$$. So $$B_l = \sum_{k=0}^{N-1} T_p$$ where $$N$$ is the number of pending transfers.
MediatedTransfer
A mediated transfer is a hashlocked transfer between an initiator and a target propagated through nodes in the network.
merkletree root
locksroot
The root of the merkle tree which holds the hashes of all the locks in the channel.
net balance
The net balance $$B_n$$ of a channel participant $$P$$ is his total deposit $$P_d$$ along with the amount of token he received $$P_r$$ minus the amount $$P_s$$ of token he has sent. So $$B_n = P_d + P_r - P_s$$
netting channel
The on-chain payment channel between two raiden nodes.
payee
In a channel relationship between two raiden nodes the payee is the participant who receives a transfer
payer
In a channel relationship between two raiden nodes the payer is the participant who sends a transfer.
preimage
secret
The preimage, what we call the secret in raiden, is 32 bytes of random cryptographically secure data whose keccak hash ends up being the hashlock.
RefundTransfer
A refund transfer is a special type of MediatedTransfer that is used when a node can no longer propagate a transfer and a routing backtrack needs to be done.
reveal timeout
The number of blocks in a channel allowed for learning about a secret being reveal through the blockchain and acting on it.
RevealSecret
The reveal secret message is sent to a node that is known to have an interest to learn the secret.
secret message
The secret message is a message containing the secret and used for synchronization between mediated transfer participants.
SecretRequest
The secret request message is sent by the target of a mediated transfer to its initiator in order to request the secret to unlock the transfer.
settlement timeout
settlement window
The number of blocks after the closing of a channel within which the counterparty is able to call updateTransfer and show the transfers they received.
target
In a mediated transfer the target is the raiden node for which the transfer sent by the initiator is intended
transferred amount
The transferred amount is the total amount of token one participant of a netting channel has sent to his counterparty.