by cryptoking
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Cryptocurrency Glossary

bitcoin

• 51% Attack

• When over half of the computing power of an organization is controlled by one individual or a small close group of individuals, which gives them absolute rule over the organization

• Address

• A bitcoin address is identical to the bitcoin owner\'s home address, and is visualized as a combination of alphanumeric characters (ex: 2MSSF76hs0k2aDT7f5s3KadFS34U)

• Altcoin

• Bitcoin owners refer to any other coins that are not bitcoin as "Altcoin"

• ASIC / ASIC Miner

• Stands for Application Specific Integrated Circuit, and is a process by which coins are mined and at a quicker rate than with a normal desktop or laptop, and done so with a chip

• Blockchain

• A data system on a digital platform used to make a ledger of transactions, specifically on de-centralized networks

• It is enabled and protected via cryptography 

• B

• Pages in a transaction ledger with information that cannot be altered, and is permanently stored

• Block Height

• The amount of blocks stacked before the first beginning block on the chain. The beginning block always begins at zero

• The amount of blocks in a chain corresponds to a metric system of time in programming

• Block Reward

• This reward goes to the individual who solves the math associated to a blcok

• If you mine a bitcoin block, you will receive 25 bitcoins

• Distributed & Central Ledger

• A ledger that is distributed contains data that is shared, replicable and synchronized & spans multiple networks

• A ledger that is centralized (conversely) controlled synchronized & replicable data that is controlled by a single network or individual

• Fork

• A permanent divergence in a blockchain that can occur after a 51% attack or a bug in the program

• Halving

• Reducing minable rewards after a sequence of blocks (after 210,000 blocks in bitcoins)

• Hashrate

• The speed at white a block is discovered and solved

• Mining

• The act of discovering or solving blocks in a blockchain

• Multisig

• "Multisignature" when more than 1 individual is allowed to approve a transaction

• Node

• A computer device connected to the Bitcoin network

• P2P

• "Peer to Peer" - focuses on decentralization in which nearly every section of the blockchain can be completed peer to peer

• PoW

• "Proof of Work" originated to prevent spam emails and DDOS attacks. In bitcoin terms, this is referred to as "nonce" or "number used only once" and is a way of ensuring security, although it is 

• PoS

• "Proof of Stake" is an energy-conserving alternative to PoW, in the sense that it requires an individual to show ownership of pariticular money or stake rather than making the individual perfom 

• Public/Private Key

• Public Key is utilized by any party to encrypt a message

• Private Key is utilized in a way that only an individual or group can decode it

• Signature

• Mathematical process that allows an individual to prove sole ownership over his/her wallet, coin, data, etc.

• Smart Contract

• A 2-way "Smart Contract" is a blockchain-stored agreement that is unalterable and possesses particular login information (very much like a "real world" contract). Once all parties have 

This checklist was created by cryptoking

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