When over half of the computing power of an organization is controlled by one individual or a small close group of individuals, which gives them absolute rule over the organization
A bitcoin address is identical to the bitcoin owner\'s home address, and is visualized as a combination of alphanumeric characters (ex: 2MSSF76hs0k2aDT7f5s3KadFS34U)
Bitcoin owners refer to any other coins that are not bitcoin as "Altcoin"
Stands for Application Specific Integrated Circuit, and is a process by which coins are mined and at a quicker rate than with a normal desktop or laptop, and done so with a chip
A data system on a digital platform used to make a ledger of transactions, specifically on de-centralized networks
It is enabled and protected via cryptography
Pages in a transaction ledger with information that cannot be altered, and is permanently stored
The amount of blocks stacked before the first beginning block on the chain. The beginning block always begins at zero
The amount of blocks in a chain corresponds to a metric system of time in programming
This reward goes to the individual who solves the math associated to a blcok
If you mine a bitcoin block, you will receive 25 bitcoins
A ledger that is distributed contains data that is shared, replicable and synchronized & spans multiple networks
A ledger that is centralized (conversely) controlled synchronized & replicable data that is controlled by a single network or individual
A permanent divergence in a blockchain that can occur after a 51% attack or a bug in the program
Reducing minable rewards after a sequence of blocks (after 210,000 blocks in bitcoins)
The speed at white a block is discovered and solved
The act of discovering or solving blocks in a blockchain
"Multisignature" when more than 1 individual is allowed to approve a transaction
A computer device connected to the Bitcoin network
"Peer to Peer" - focuses on decentralization in which nearly every section of the blockchain can be completed peer to peer
"Proof of Work" originated to prevent spam emails and DDOS attacks. In bitcoin terms, this is referred to as "nonce" or "number used only once" and is a way of ensuring security, although it is
"Proof of Stake" is an energy-conserving alternative to PoW, in the sense that it requires an individual to show ownership of pariticular money or stake rather than making the individual perfom
Public Key is utilized by any party to encrypt a message
Private Key is utilized in a way that only an individual or group can decode it
Mathematical process that allows an individual to prove sole ownership over his/her wallet, coin, data, etc.
A 2-way "Smart Contract" is a blockchain-stored agreement that is unalterable and possesses particular login information (very much like a "real world" contract). Once all parties have
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