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| MIXING SERVICE | 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 |
| BITCOIN | the practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone. |
| BTC | a private key is a string of data that allows you to access the tokens in a specific wallet. they act as passwords that are kept hidden from anyone but the owner of the address. |
| SPV | an exchange in which traders make deals with each other directly, rather than relying on a central exchange to mediate between them |
| PRIVATE KEY | a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, a consortium of 15 financial institutions. |
| CONSORTIUM BLOCKCHAIN | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| ALTCOINS | 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. |
| DIFFICULTY | this refers to how easily a data block of transaction information can be mined successfully. |
| OTC EXCHANGE | a service that mixes your bitcoins with someone else’s, sending you back bitcoins with different inputs and outputs from the ones that you sent to it. a mixing service (also known as a tumbler) preserves your privacy because it stops people tracing a particular bitcoin to you. it also has the potential to be used for money laundering. |
| OPEN SOURCE | an acronym for bitcoin. a single unit of the bitcoin currency. |
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| MIXING SERVICE | a service that mixes your bitcoins with someone else’s, sending you back bitcoins with different inputs and outputs from the ones that you sent to it. a mixing service (also known as a tumbler) preserves your privacy because it stops people tracing a particular bitcoin to you. it also has the potential to be used for money laundering. |
| 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. |
| BTC | an acronym for bitcoin. a single unit of the bitcoin currency. |
| SPV | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| PRIVATE KEY | a private key is a string of data that allows you to access the tokens in a specific wallet. they act as passwords that are kept hidden from anyone but the owner of the address. |
| CONSORTIUM BLOCKCHAIN | a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, a consortium of 15 financial institutions. |
| 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 |
| DIFFICULTY | this refers to how easily a data block of transaction information can be mined successfully. |
| OTC EXCHANGE | an exchange in which traders make deals with each other directly, rather than relying on a central exchange to mediate between them |
| OPEN SOURCE | the practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone. |
