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| POOL | distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. a distributed ledger does not have to have its own currency and may be permissioned and private. |
| EVM | the practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone. |
| OPEN SOURCE | a place where buyers and sellers can trade bitcoins or other cryptocurrencies. |
| CRYPTOGRAPHY | is the practice and study of techniques for secure communication in the presence of third parties called adversaries. cryptocurrencies are built on cryptography. they are not secured by people or by trust, but by math. it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. |
| SMART CONTRACT | a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. once signed it can never be altered. a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. |
| BTC | a proof of work is a piece of data which is difficult (costly, time-consuming) to produce but easy for others to verify and which satisfies certain requirements. |
| WALLET | the ethereum virtual machine (evm) is a turing complete virtual machine that allows anyone to execute arbitrary evm byte code. every ethereum node runs on the evm to maintain consensus across the blockchain. |
| EXCHANGE | a file that houses private keys. it usually contains a software client which allows access to view and create transactions on a specific blockchain that the wallet is designed for. |
| PROOF-OF-WORK | an acronym for bitcoin. a single unit of the bitcoin currency. |
| DISTRIBUTED LEDGER | a collection of mining clients which collectively mine a block, and then split the reward between them. mining pools are a useful way to increase your probability of successfully mining a block as the difficulty rises. |
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| POOL | a collection of mining clients which collectively mine a block, and then split the reward between them. mining pools are a useful way to increase your probability of successfully mining a block as the difficulty rises. |
| EVM | the ethereum virtual machine (evm) is a turing complete virtual machine that allows anyone to execute arbitrary evm byte code. every ethereum node runs on the evm to maintain consensus across the blockchain. |
| OPEN SOURCE | the practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone. |
| CRYPTOGRAPHY | is the practice and study of techniques for secure communication in the presence of third parties called adversaries. cryptocurrencies are built on cryptography. they are not secured by people or by trust, but by math. it is more probable that an asteroid falls on your house than that a bitcoin address is compromised. |
| SMART CONTRACT | a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. once signed it can never be altered. a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. |
| BTC | an acronym for bitcoin. a single unit of the bitcoin currency. |
| WALLET | a file that houses private keys. it usually contains a software client which allows access to view and create transactions on a specific blockchain that the wallet is designed for. |
| EXCHANGE | a place where buyers and sellers can trade bitcoins or other cryptocurrencies. |
| PROOF-OF-WORK | a proof of work is a piece of data which is difficult (costly, time-consuming) to produce but easy for others to verify and which satisfies certain requirements. |
| DISTRIBUTED LEDGER | distributed ledgers are ledgers in which data is stored across a network of decentralized nodes. a distributed ledger does not have to have its own currency and may be permissioned and private. |
