Glossary, Latest Crypto News, being a webstek dedicated to Blockchain Technology and Cryptocurrencies here by explains our readers about the various terms ter Blockchain and Crypto World.

Altcoin: Abbreviation for “Alternative coin”. Crypto currencies other than Bitcoin are collectively called Altcoin.

Autonomous Decentralized Organization : Program which seals ter a blockchain the governance of an organization. Contains several brainy contracts that interacts among them.

Bitcoin (BTC): World’s Very first Decentralized peer-to-peer cryptp currency developed ter 2008 and introduced spil an open source software te 2009 by an unidentified developer or group of developers using the pseudonym Satoshi Nakamoto.

Blockchain: The blockchain is a technology for the storage and transmission of information at minimal cost, secure, semi-transparent, and operating without a central figure of control.

By extension, a blockchain (literally a “chain of Blocks”) means a secure database and distributed (because collective by its various users), containing a set of transactions which everyone can check the validity. A blockchain can thus be assimilated to a large accounting book public, anonymous and cannot be counterfeited.

Blockchain is the technology behind Bitcoins and most of the Crypto Currencies.

Blockchain Growth Fund : A fresh venture capital fund which invites and permits a common man to invest ter high-return fetching Blockchain startups, different cryptocurrency mining and promising ICO’s.

Colored corners: Set of methods or protocols to create, represent and manage real assets on the blockchain Bitcoin.

Cryptocurrency: Person-to-Person Electronic money, based on the principles of cryptography to validate transactions and the generation of the currency itself.

Devcon of Ethereum: Abbreviation for “Developers Conference”, an annual event consists of several days of meetings and conferences around the blockchain of Ethereum.

Ether: Cryptocurrency or digital tokens of Ethereum Blockchain network.

Ethereum: Decentralized Toneelpodium , based on a blockchain, permitting its network of users to create clever contracts. The blockchain of Ethereum works with the currency “Ether”. Unlike the blockchain of bitcoin, focused on the monetary opzicht, the blockchain of Ethereum has a vocation to accommodate very diverse programs

Fiat Money: “Classic Currency”, whose value is given by the Act or the government regulation (e.g Euro, Dollar,etc) .

ICO: Brief for Initial Coin Suggesting , a process by which early age crypto currency startups raises funds te order for further development of the crypto currency.

MCAP: Digital Tokens which are used to invest ter Bitcoin Growth Fund

Microtransaction: Transaction of a few cents. Ter a circuit “Classic”, via a bankgebouw for example, the microtransactions are too costly to achieve (fees are indeed higher than the amount of the transactions). The blockchain provides a solution to this problem.

Mining : Use of the computing power te order to process and validate transactions, generate more tokens, secure the network and to permit all the users of the system to remain synchronized.

Mining Pool: A Group of minors who performs the task of mining spil a group and distributes the prize te the group and not individuals.

Minor: Persons (individuals or companies) that connect on the network with one or several machines tooled to perform the mining process.

Multisig: A method of securing a requiring portfolio the signatures of several keys to unlock funds.

Knot: A laptop/server connected to the network and using a program relaying the transactions.

Private key: Key permitting the user to a blockchain to initiate a transaction by signing cryptographical messages. It voorwaarde not be collective with anyone.

Proof of stake (POS): Method used to achieve the overeenstemming ter a distributed blockchain network . It is the inverse of the concept of proof of the work, the proof of stake does not request the users to use their computing power to rival with each other to solve any mathematical puzzle, but rather to prove the ownership of a certain amount of crypto-currency stake te the network.

Proof of work (POW): “Evidence of work” or “Evidence of calculation”. It is the cryptographic processing enabling the validation of the blocks of transactions. Perform this treatment requires the calculation time. Ter general, a single rekentuig on the network succeeds ter about ten minutes. The difficulty is regularly adapted to maintain this interval.

Public key: Key used to address on a blockchain. It is known to all and it permits a sender to designate a recipient.

More terms will be added on regular ondergrond.Subscribe to our newsletters to stay updated and connect with us socially on Facebook, Twitter and Instagram.

This article wasgoed published by the author Bhargavi Sayee.

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