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| HARD FORK | a wallet based on a system of deriving multiple keys from a single starting point known as a seed. this seed is all that is needed to restore a wallet if it is lost and can allow the creation of public addresses without the knowledge of the private key. |
| BTC | an acronym for bitcoin. a single unit of the bitcoin currency. |
| DETERMINISTIC WALLET | blocks are packages of data that carry permanently recorded data on the blockchain network. |
| BITCOIN NETWORK | 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”. |
| MINING POOL | the decentralized, peer-to- peer network which maintains the blockchain. this is what processes all bitcoin transactions. |
| HOT WALLET | the act of calling in a margin requirement. an exchange will issue a margin call when it feels that a trader does not have sufficient funds to cover a leveraged trading position. |
| BITCOIN | bitcoin can refer to the protocol, network or the unit of currency. strictly, bitcoin with a capital “b” refers to the protocol & the network, whilst bitcoin with a lowercase “b” is the currency. bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. |
| COLD STORAGE | 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. |
| BLOCK | 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. |
| MARGIN CALL | 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. |
| |  |
| 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. |
| BTC | an acronym for bitcoin. a single unit of the bitcoin currency. |
| DETERMINISTIC WALLET | a wallet based on a system of deriving multiple keys from a single starting point known as a seed. this seed is all that is needed to restore a wallet if it is lost and can allow the creation of public addresses without the knowledge of the private key. |
| BITCOIN NETWORK | the decentralized, peer-to- peer network which maintains the blockchain. this is what processes all bitcoin transactions. |
| 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. |
| 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. |
| BITCOIN | bitcoin can refer to the protocol, network or the unit of currency. strictly, bitcoin with a capital “b” refers to the protocol & the network, whilst bitcoin with a lowercase “b” is the currency. bitcoin is the first decentralised, open source cryptocurrency that runs on a global peer to peer network, without the need for middlemen and a centralised issuer. |
| 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 | blocks are packages of data that carry permanently recorded data on the blockchain network. |
| MARGIN CALL | the act of calling in a margin requirement. an exchange will issue a margin call when it feels that a trader does not have sufficient funds to cover a leveraged trading position. |
