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| LITECOIN | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| BITCOIN PROTOCOL | the open source, cryptographic protocol which operates on the bitcoin network, setting the “rules” for how the network runs. |
| EVM | a private key is a string of data that allows you to access the tokens in a specific wallet. they act as passwords that are kept hidden from anyone but the owner of the address. |
| 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. |
| PRIVATE KEY | a common flaw in some cryptocurrency blockchains where the system of rules is not in motion properly, allowing malicious users to try and spend their unique codes in multiple places. this causes coins spent that are already spent somewhere else, making one of the receivers end up with nothing. |
| MASF | an acronym for bitcoin. a single unit of the bitcoin currency. |
| BTC | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| DOUBLE SPENDING | 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. |
| 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. |
| SPV | 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. |
| |  |
| LITECOIN | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| BITCOIN PROTOCOL | the open source, cryptographic protocol which operates on the bitcoin network, setting the “rules” for how the network runs. |
| 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. |
| 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. |
| PRIVATE KEY | a private key is a string of data that allows you to access the tokens in a specific wallet. they act as passwords that are kept hidden from anyone but the owner of the address. |
| 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. |
| BTC | an acronym for bitcoin. a single unit of the bitcoin currency. |
| DOUBLE SPENDING | a common flaw in some cryptocurrency blockchains where the system of rules is not in motion properly, allowing malicious users to try and spend their unique codes in multiple places. this causes coins spent that are already spent somewhere else, making one of the receivers end up with nothing. |
| 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. |
| SPV | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
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