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| DIGITAL ASSET | anything that exists in a binary format and comes with the right to use. data that do not possess that right are not considered assets. digital assets include but are not exclusive to: digital documents, audible content, motion picture, and other relevant digital data that are currently in circulation or are, or will be stored on digital appliances. |
| OTC EXCHANGE | 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. |
| SPV | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| MULTI-SIGNATURE | multi-signature addresses provide an added layer of security by requiring more than one key to authorize a transaction. |
| LIQUIDITY | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| SCRYPT | the ability to buy and sell an asset easily, with pricing that stays roughly similar between trades. a suitably large community of buyers and sellers is important for liquidity. the result of an illiquid market is price volatility, and the inability to easily determine the value of an asset. |
| PAPER WALLET | a type of network where processing power and data are spread over the nodes rather than having a centralised data centre. |
| LITECOIN | the decentralized, peer-to- peer network which maintains the blockchain. this is what processes all bitcoin transactions. |
| DISTRIBUTED NETWORK | an exchange in which traders make deals with each other directly, rather than relying on a central exchange to mediate between them |
| BITCOIN NETWORK | a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption) and then all traces of the key are removed from the computer where it was generated |
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| DIGITAL ASSET | anything that exists in a binary format and comes with the right to use. data that do not possess that right are not considered assets. digital assets include but are not exclusive to: digital documents, audible content, motion picture, and other relevant digital data that are currently in circulation or are, or will be stored on digital appliances. |
| OTC EXCHANGE | an exchange in which traders make deals with each other directly, rather than relying on a central exchange to mediate between them |
| SPV | acronym for “simplified payment verification”, this allows mobile clients to make payments without needing a copy of the entire blockchain |
| MULTI-SIGNATURE | multi-signature addresses provide an added layer of security by requiring more than one key to authorize a transaction. |
| LIQUIDITY | the ability to buy and sell an asset easily, with pricing that stays roughly similar between trades. a suitably large community of buyers and sellers is important for liquidity. the result of an illiquid market is price volatility, and the inability to easily determine the value of an asset. |
| 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. |
| PAPER WALLET | a form of cold storage where a private key for bitcoin address is printed on a piece of paper (with or without encryption) and then all traces of the key are removed from the computer where it was generated |
| LITECOIN | is a peer-to-peer cryptocurrency based on the scrypt proof-of-work network. sometimes referred to as the silver of bitcoin’s gold. |
| DISTRIBUTED NETWORK | a type of network where processing power and data are spread over the nodes rather than having a centralised data centre. |
| BITCOIN NETWORK | the decentralized, peer-to- peer network which maintains the blockchain. this is what processes all bitcoin transactions. |
