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| ASIC | scrypt is a type of cryptographic algorithm and is used by litecoin. compared to sha256, this is quicker as it does not use up as much processing time. |
| MASF | the first or first few blocks of a blockchain. |
| ETHEREUM | smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network. |
| TESTNET | 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 |
| QR CODE | a test blockchain used by developers to prevent expending assets on the main chain. |
| KYC | ethereum is a blockchain-based decentralised platform for apps that run smart contracts, and is aimed at solving issues associated with censorship, fraud and third party interference. |
| SHA-256 | know your client/customer rules force financial institutions to vet the people they are doing business with, ensuring that they are legitimate. |
| SCRYPT | miner activated soft fork - it’s a mechanism by which miners trigger activation of soft forks when a majority signals the readiness to upgrade. this allows for a faster activation time for the soft fork, leaving full nodes to upgrade at their leisure. |
| GENESIS BLOCK | sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. however, it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. |
| SMART CONTRACTS | short form for ‘application specific integrated circuit’. often compared to gpus, asics are specially made for mining and may offer significant power savings. |
|  |
| ASIC | short form for ‘application specific integrated circuit’. often compared to gpus, asics are specially made for mining and may offer significant power savings. |
| MASF | miner activated soft fork - it’s a mechanism by which miners trigger activation of soft forks when a majority signals the readiness to upgrade. this allows for a faster activation time for the soft fork, leaving full nodes to upgrade at their leisure. |
| ETHEREUM | ethereum is a blockchain-based decentralised platform for apps that run smart contracts, and is aimed at solving issues associated with censorship, fraud and third party interference. |
| TESTNET | a test blockchain used by developers to prevent expending assets on the main chain. |
| 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 |
| KYC | know your client/customer rules force financial institutions to vet the people they are doing business with, ensuring that they are legitimate. |
| SHA-256 | sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. however, it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. |
| SCRYPT | scrypt is a type of cryptographic algorithm and is used by litecoin. compared to sha256, this is quicker as it does not use up as much processing time. |
| GENESIS BLOCK | the first or first few blocks of a blockchain. |
| SMART CONTRACTS | smart contracts encode business rules in a programmable language onto the blockchain and are enforced by the participants of the network. |
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