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| MINING POOL | a public address is the cryptographic hash of a public key. they act as email addresses that can be published anywhere, unlike private keys. |
| PUBLIC ADDRESS | the number of blocks connected on the blockchain. |
| HARD FORK | know your client/customer rules force financial institutions to vet the people they are doing business with, ensuring that they are legitimate. |
| MINING | decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. also known as “dacs” |
| KYC | the safest way to store your private keys is by keeping them offline in “cold storage”. this could be in the form of a hardware wallet, usb stick or a paper wallet. these wallets are known as “cold wallets”. |
| SMART CONTRACTS | a type of fork that renders previously invalid transactions valid, and vice versa. this type of fork requires all nodes and users to upgrade to the latest version of the protocol software. |
| DAO | a bitcoin transaction which requires signatures from multiple parties to authorize the sending of bitcoins. this has the potential to improve consumer protection. |
| COLD STORAGE | smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network. |
| BLOCK HEIGHT | a group of miners who have decided to combine their computing power for mining. this allows rewards to be distributed more consistently between participants in the pool. |
| MULTI SIGNATURE TRANSACTION | mining is the act of validating blockchain transactions. the necessity of validation warrants an incentive for the miners, usually in the form of coins. in this cryptocurrency boom, mining can be a lucrative business when done properly. by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. |
| |  |
| MINING POOL | a group of miners who have decided to combine their computing power for mining. this allows rewards to be distributed more consistently between participants in the pool. |
| PUBLIC ADDRESS | a public address is the cryptographic hash of a public key. they act as email addresses that can be published anywhere, unlike private keys. |
| HARD FORK | a type of fork that renders previously invalid transactions valid, and vice versa. this type of fork requires all nodes and users to upgrade to the latest version of the protocol software. |
| MINING | mining is the act of validating blockchain transactions. the necessity of validation warrants an incentive for the miners, usually in the form of coins. in this cryptocurrency boom, mining can be a lucrative business when done properly. by choosing the most efficient and suitable hardware and mining target, mining can produce a stable form of passive income. |
| KYC | know your client/customer rules force financial institutions to vet the people they are doing business with, ensuring that they are legitimate. |
| SMART CONTRACTS | smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network. |
| DAO | decentralised autonomous organizations can be thought of as corporations that run without any human intervention and surrender all forms of control to an incorruptible set of business rules. a theoretical company that could exist in the cloud and carry out business according to preset algorithms, needing no human management. also known as “dacs” |
| COLD STORAGE | the safest way to store your private keys is by keeping them offline in “cold storage”. this could be in the form of a hardware wallet, usb stick or a paper wallet. these wallets are known as “cold wallets”. |
| BLOCK HEIGHT | the number of blocks connected on the blockchain. |
| MULTI SIGNATURE TRANSACTION | a bitcoin transaction which requires signatures from multiple parties to authorize the sending of bitcoins. this has the potential to improve consumer protection. |
