 |  |
| PEER TO PEER | miner activated soft fork - it’s a mechanism by which miners trigger activation of soft forks when a majority signals the readiness to upgrade. this allows for a faster activation time for the soft fork, leaving full nodes to upgrade at their leisure. |
| MASF | a bitcoin wallet that has an active connection to the internet. these are used for “everyday” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. |
| WIRE TRANSFER | smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network. |
| SMART CONTRACTS | electronically transferring money from one person to another. commonly used to send and retrieve fiat currency from bitcoin exchanges |
| NODE | a digital representation of a bitcoin public or private key that is easy to scan by digital cameras. qr codes are similar to barcodes found on physical products in that they are a machine-friendly way to embody a piece of data |
| MINER | a copy of the ledger operated by a participant of the blockchain network. a node is essentially a computer connected to cryptocurrency network. a node supports the network through validation and relaying of transactions while receiving a copy of the full blockchain itself. |
| HOT WALLET | a cryptocurrency needs some kind of mechanism to prevent one ruling party from abusing it. a miner can build a block and add it to the blockchain. as an incentive, he has the right to add a so-called coinbase transaction that gives him a specific number of bitcoins. |
| 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. |
| QR CODE | peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. participants of a p2p network deal directly with each other through a single mediation point. |
| ASIC | short form for ‘application specific integrated circuit’. often compared to gpus, asics are specially made for mining and may offer significant power savings. |
| |  |
| PEER TO PEER | peer to peer (p2p) refers to the decentralized interactions between two parties or more in a highly-interconnected network. participants of a p2p network deal directly with each other through a single mediation point. |
| MASF | miner activated soft fork - it’s a mechanism by which miners trigger activation of soft forks when a majority signals the readiness to upgrade. this allows for a faster activation time for the soft fork, leaving full nodes to upgrade at their leisure. |
| WIRE TRANSFER | electronically transferring money from one person to another. commonly used to send and retrieve fiat currency from bitcoin exchanges |
| SMART CONTRACTS | smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network. |
| NODE | a copy of the ledger operated by a participant of the blockchain network. a node is essentially a computer connected to cryptocurrency network. a node supports the network through validation and relaying of transactions while receiving a copy of the full blockchain itself. |
| MINER | a cryptocurrency needs some kind of mechanism to prevent one ruling party from abusing it. a miner can build a block and add it to the blockchain. as an incentive, he has the right to add a so-called coinbase transaction that gives him a specific number of bitcoins. |
| HOT WALLET | a bitcoin wallet that has an active connection to the internet. these are used for “everyday” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. |
| 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. |
| QR CODE | a digital representation of a bitcoin public or private key that is easy to scan by digital cameras. qr codes are similar to barcodes found on physical products in that they are a machine-friendly way to embody a piece of data |
| ASIC | short form for ‘application specific integrated circuit’. often compared to gpus, asics are specially made for mining and may offer significant power savings. |
The agreement of our Team: The following authors decided to create a Team in order to collaborate and share formats and content in our posts. Any copy of content between this Team does not constitute a plagiarism.
