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| SOFT FORK | 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. |
| DETERMINISTIC WALLET | a ledger maintained by a central agency. |
| ASIC | inflating the value of a financial asset that has been produced or acquired cheaply, using aggressive publicity and often misleading statements. the publicity causes others to acquire the asset, forcing up its value. when the value is high enough, the perpetrator sells their assets, cashing in and flooding the market, which causes the value to crash. |
| CENTRAL LEDGER | a common term in cryptocurrency which means that the currency isn’t issued or regulated by a centralized authority, such as a bank or government. |
| RIPPLE | short form for ‘application specific integrated circuit’. often compared to gpus, asics are specially made for mining and may offer significant power savings. |
| PUBLIC/PRIVATE KEY | in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. another party can then receive the message and using a key that is only known to that individual or group, decode the message. |
| DECENTRALIZED | a soft fork differs from a hard fork in that only previously valid transactions are made invalid. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. |
| PROOF-OF-WORK | 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. |
| PUMP AND DUMP | is a payment network built on distributed ledgers that can be used to transfer any currency. the network consists of payment nodes and gateways operated by authorities. payments are made using a series of ious, and the network is based on trust relationships. |
| BLOCK TIMESTAMP | each block contains a timestamp in unix. they help to make it more difficult for someone else to manipulate the blockchain. |
| |  |
| SOFT FORK | a soft fork differs from a hard fork in that only previously valid transactions are made invalid. since old nodes recognize the new blocks as valid, a soft fork is essentially backward-compatible. this type of fork requires most miners upgrading in order to enforce, while a hard fork requires all nodes to agree on the new version. |
| 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. |
| ASIC | short form for ‘application specific integrated circuit’. often compared to gpus, asics are specially made for mining and may offer significant power savings. |
| CENTRAL LEDGER | a ledger maintained by a central agency. |
| RIPPLE | is a payment network built on distributed ledgers that can be used to transfer any currency. the network consists of payment nodes and gateways operated by authorities. payments are made using a series of ious, and the network is based on trust relationships. |
| PUBLIC/PRIVATE KEY | in cryptography a public key is a cryptographic key that can be utilized by any party to encrypt a message. another party can then receive the message and using a key that is only known to that individual or group, decode the message. |
| DECENTRALIZED | a common term in cryptocurrency which means that the currency isn’t issued or regulated by a centralized authority, such as a bank or government. |
| 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. |
| PUMP AND DUMP | inflating the value of a financial asset that has been produced or acquired cheaply, using aggressive publicity and often misleading statements. the publicity causes others to acquire the asset, forcing up its value. when the value is high enough, the perpetrator sells their assets, cashing in and flooding the market, which causes the value to crash. |
| BLOCK TIMESTAMP | each block contains a timestamp in unix. they help to make it more difficult for someone else to manipulate the blockchain. |
