 |  |
| ETHER | a transaction is a file that says, “bob gives x bitcoin to alice“ and is signed by bob‘s private key. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. the transaction is known almost immediately by the whole network. but only after a specific amount of time it gets confirmed. as long as a transaction is unconfirmed, it is pending and can be forged. when a transaction is confirmed, it is set in stone. |
| SPV | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| ALTCOINS | is the native token of the ethereum blockchain which is used to pay for transaction fees, miner rewards and other services on the network. |
| 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. |
| LITECOIN | 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. |
| DIFFICULTY | a wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins. |
| CRYPTOGRAPHY | this refers to how easily a data block of transaction information can be mined successfully. |
| BITCOIN TRANSACTION | a name coined as the merger of the words bitcoin and alternative. these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency |
| HALVING | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| DESKTOP WALLET | bitcoins have a finite supply, which makes them a scarce digital commodity. the total amount of bitcoins that will ever be issued is 21 million. the number of bitcoins generated per block is decreased 50% every four years. this is called “halving.” the final halving will take place in the year 2140. |
| |  |
| ETHER | is the native token of the ethereum blockchain which is used to pay for transaction fees, miner rewards and other services on the network. |
| SPV | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| ALTCOINS | a name coined as the merger of the words bitcoin and alternative. these concern all coins that came after the initial release of the famous bitcoin, the first decentralized cryptocurrency |
| 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. |
| 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. |
| DIFFICULTY | this refers to how easily a data block of transaction information can be mined successfully. |
| 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. |
| BITCOIN TRANSACTION | a transaction is a file that says, “bob gives x bitcoin to alice“ and is signed by bob‘s private key. after signed, a transaction is broadcasted in the network, sent from one peer to every other peer. the transaction is known almost immediately by the whole network. but only after a specific amount of time it gets confirmed. as long as a transaction is unconfirmed, it is pending and can be forged. when a transaction is confirmed, it is set in stone. |
| HALVING | bitcoins have a finite supply, which makes them a scarce digital commodity. the total amount of bitcoins that will ever be issued is 21 million. the number of bitcoins generated per block is decreased 50% every four years. this is called “halving.” the final halving will take place in the year 2140. |
| DESKTOP WALLET | a wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins. |
