COLD STORAGE - HOT WALLET - SPV - BITCOIN (UNIT OF CURRENCY) -

rspower (48)in #blockchain • 6 years ago


COLD STORAGE	bitcoin functions as a reserve currency for the altcoin ecosystem. a unit of the decentralized, digital currency which can be traded for goods and services. 100,000,000 satoshis. ^{Source + Source}
HOT WALLET	this allows mobile clients to make payments without needing a copy of the entire blockchain. acronym for “simplified payment verification”.^{Source + Source}
SPV	these wallets are known as “cold wallets”. this could be in the form of a hardware wallet, usb stick or a paper wallet. the safest way to store your private keys is by keeping them offline in “cold storage”. ^{Source + Source}
BITCOIN (UNIT OF CURRENCY)	these are used for “every day” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. a bitcoin wallet that has an active connection to the internet. ^{Source + Source}


COLD STORAGE	these wallets are known as “cold wallets”. this could be in the form of a hardware wallet, usb stick or a paper wallet. the safest way to store your private keys is by keeping them offline in “cold storage”. ^{Source + Source}
HOT WALLET	these are used for “every day” transactions and should never hold large amounts of bitcoin, since their connectivity reduces their security. a bitcoin wallet that has an active connection to the internet. ^{Source + Source}
SPV	this allows mobile clients to make payments without needing a copy of the entire blockchain. acronym for “simplified payment verification”.^{Source + Source}
BITCOIN (UNIT OF CURRENCY)	bitcoin functions as a reserve currency for the altcoin ecosystem. a unit of the decentralized, digital currency which can be traded for goods and services. 100,000,000 satoshis. ^{Source + Source}

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