An agreement ledger is distributed ledger used by two or more parties to negotiate and reach agreement.
A distributed ledger providing a durable record of agreements, commitments or statements, providing evidence (attestation) that these agreements, commitments or statements were made.
The specific collection of technologies used by bitcoin’s ledger, a particular solution. note that the currency is itself one of these technologies, as it provides the miners with the incentive to...
The well known cryptocurrency, based on the proof-of-work blockchain.
Block height refers to the number of blocks connected together in the block chain. for example, height 0, would be the very first block, which is also called the genesis block.
- The reward given to a miner which has successfully hashed a transaction block. block rewards can be a mixture of coins and transaction fees, depending on the policy used by the cryptocurrency ...
- A blockchain is a type of distributed ledger, comprised of unchangable, digitally recorded data in packages called blocks (rather like collating them on to a single sheet of paper). each block...
A central ledger refers to a ledger maintained by a central agency.
A point – either in time, or defined in terms of a set number or volume of records to be added to the ledger – where peers meet to agree the state of the ledger.
The process a group of peers responsible for maintaining a distributed ledger use to reach consensus on the ledger’s contents.
A form of digital currency based on mathematics, where encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. furthermore, cryptocurrencie...
A digital commodity is a scarce, electronically transferrable, intangible, with a market value.
A digital identity is an online or networked identity adopted or claimed in cyberspace by an individual, organization, or electronic device.
Distributed ledgers are a type of database that are spread across multiple sites, countries or institutions. records are stored one after the other in a continuous ledger. distributed ledger data ...
- Double spend refers to a scenario, in the bitcoin network, where someone tries to send a bitcoin transaction to two different recipients at the same time. however, once a bitcoin transaction i...
- The very first block in a block chain.
- The very first block in the block chain
The number of hashes that can be performed by a bitcoin miner in a given period of time (usually a second).
|initial coin offering (ico)|
An initial coin offering (also called an ico) is an event in which a new cryptocurrency sells advance tokens from its overall coinbase, in exchange for upfront capital. icos are frequently used fo...
An append-only record store, where records are immutable and may hold more general information than financial records.
A peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin`s gold.
Multi-signature (multisig) addresses allow multiple parties to require more than one key to authorize a transaction. the needed number of signatures is agreed at the creation of the address. multi...
A currency minted off-ledger and used on-ledger. an example of this would be using distributed ledgers to manage a national currency.
A currency minted on-ledger and used on-ledger. an example of this would be the cryptocurrency, bitcoin.
A permissioned ledger is a ledger where actors must have permission to access the ledger. permissioned ledgers may have one or many owners. when a new record is added, the ledger’s integrity is ch...
A currency issued by a private individual or firm, typically secured against uninsured assets.
An alternative to the proof-of-work system, in which your existing stake in a cryptocurrency (the amount of that currency that you hold) is used to calculate the amount of that currency that you c...
A system that ties mining capability to computational power. blocks must be hashed, which is in itself an easy computational process, but an additional variable is added to the hashing process to ...
A ledger with one master (authoritative) copy of the data, and many slave (non-authoritative) copies.
- An alternative proof of work system to sha-256, designed to be particularly friendly to cpu and gpu miners, while offering little advantage to asic miners.
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The cryptographic function used as the basis for bitcoin’s proof of work system.
- Smart contracts are contracts whose terms are recorded in a computer language instead of legal language. smart contracts can be automatically executed by a computing system, such as a suitable...
A tokenless ledger refers to a distributed ledger that doesn’t require a native currency to operate.
A collection of transactions on the bitcoin network, gathered into a block that can then be hashed and added to the blockchain.
A small fee imposed on some transactions sent across the bitcoin network. the transaction fee is awarded to the miner that successfully hashes the block containing the relevant transaction.
Unpermissioned ledgers such as bitcoin have no single owner — indeed, they cannot be owned. the purpose of an unpermissioned ledger is to allow anyone to contribute data to the ledger and for ever...
A cash point where people can trade fiat currency and bitcoins
A computer on a blockchain network that only verifies a limited number of transactions relevant to its dealings, making use of the simplified payment verification (spv) mode
A consortium blockchain is a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, one might imagine a consortium of 15 financial institutions, each of ...
A fully private blockchain is a blockchain where write permissions are kept centralized to one organization. read permissions may be public or restricted to an arbitrary extent. likely application...
A fundamental problem in distributed computing is to achieve overall system reliability in the presence of a number of faulty processes. this often requires processes to agree on some data value t...
A hardfork is a change to the blockchain protocol that makes previously invalid blocks/transactions valid, and therefore requires all users to upgrade their clients. the most recent example of a h...
A machine is turing complete if it can perform any calculation that any other programmable computer is capable of. all modern computers are turing-complete in this sense. the ethereum virtual mach...
|proof of authority(poa)|
A proof of authority is a consensus mechanism in a private blockchain which essentially gives one client(or a specific number of clients) with one particular private key the right to make all of t...
A public blockchain is a blockchain that anyone in the world can read, anyone in the world can send transactions to and expect to see them included if they are valid, and anyone in the world can p...
- A second blockchain used by developers for testing new versions of client software without putting real value at risk
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A softfork is a change to the bitcoin protocol wherein only previously valid blocks/transactions are made invalid. since old nodes will recognize the new blocks as valid, a softfork is backward-co...
Altcoin is an abbreviation of “bitcoin alternative”. currently, the majority of altcoins are forks of bitcoin with usually minor changes to the proof of work (pow) algorithm of the bitcoin blockch...
An online tool for exploring the blockchain of a particular cryptocurrency, where you can watch and follow live all the transactions happening on the blockchain. block explorers can serve as block...
|node (full node)|
Any computer that connects to the blockchain network is called a node. nodes that fully enforce all of the rules of the blockchain (i.e., bitcoin) are called full nodes. most nodes on the network ...