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| BITCOIN | 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. |
| BIP | 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. |
| HARDWARE WALLET | is any money declared by a government to be to be valid for meeting a financial obligation, like usd, eur or cny |
| SMART CONTRACT | a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. once signed it can never be altered. a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. |
| FIAT CURRENCY | forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. a split in the blockchain where there are temporarily two different blockchains which miners can work on. these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. this deliberate change is called a “hard fork”. it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. |
| FORK | an acronym for “bitcoin improvement proposals” which can be submitted by anyone who wants to improve the bitcoin network. |
| HARD FORK | 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. |
| QR CODE | a digital representation of a bitcoin public or private key that is easy to scan by digital cameras. qr codes are similar to barcodes found on physical products in that they are a machine-friendly way to embody a piece of data |
| PUBLIC/PRIVATE KEY | a bitcoin wallet which stores a user’s bitcoins offline on hardware devices. |
| TURING COMPLETE | turing complete refers to the ability of a machine to perform calculations that any other programmable computer is capable of. an example of this is the ethereum virtual machine (evm). |
| |  |
| 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. |
| BIP | an acronym for “bitcoin improvement proposals” which can be submitted by anyone who wants to improve the bitcoin network. |
| HARDWARE WALLET | a bitcoin wallet which stores a user’s bitcoins offline on hardware devices. |
| SMART CONTRACT | a two way smart contract is an unalterable agreement stored on the blockchain that has specific logic operations akin to a real world contract. once signed it can never be altered. a smart contract can be used to define certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights. |
| FIAT CURRENCY | is any money declared by a government to be to be valid for meeting a financial obligation, like usd, eur or cny |
| FORK | forks create an alternate version of the blockchain, leaving two blockchains to run simultaneously on different parts of the network. a split in the blockchain where there are temporarily two different blockchains which miners can work on. these can occur if software updates to a bitcoin client are incompatible or if developers decide that changes must be made to the programming of a coin. this deliberate change is called a “hard fork”. it can also be used to describe a separate cryptocurrency which has been split from the main blockchain, such as namecoin being a “fork” of bitcoin. |
| 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. |
| QR CODE | a digital representation of a bitcoin public or private key that is easy to scan by digital cameras. qr codes are similar to barcodes found on physical products in that they are a machine-friendly way to embody a piece of data |
| 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. |
| TURING COMPLETE | turing complete refers to the ability of a machine to perform calculations that any other programmable computer is capable of. an example of this is the ethereum virtual machine (evm). |
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