WIF is short for Wallet Import Format and is the simplest form of your private key. WIF is most commonly found on paper wallets so that it can be imported to another wallet. A Paper Wallet is any piece of paper with a private key and the corresponding address written or printed on it.

• Each bitcoin is divisible into 100,000,000 smaller units called Satoshis.
• Mining refers to the process of validating Bitcoin transactions by checking that the rules of the network were followed and then building blocks which reinforce those rules.
• If you do not want to run your own bitcoin miners, you can sign a mining contract to earn all of the bitcoin mined by a particular miner for a predetermined amount of time.
• Batched transactions are transactions that have multiple outputs in a single transaction to increase efficiency and reduce miner fees.

A miner taking priority into account will not include low-priority transactions into his blocks if the limited space is already filled by higher-priority transactions. A Transaction Confirmation is when Bitcoin Vocabulary a bitcoin transaction that has been sent is added to the blockchain by a bitcoin miner. A Bitcoin Transaction is recorded on the blockchain when any user sends bitcoin from one address to another.

Double Spend

Craig Wright himself says that he is →Satoshi Nakamoto, but he has not been able to prove this beyond doubt until today. Many people, including →Vitalik Buterin doubt very strongly that Craigh Wright is Satoshi. Blockchain — blockchain’s are distributed online ledgers, that are secured by cryptography. Look at them like public databases that anyone can access and read, however the data can only be updated by the owners.

Public key — A public key is a cryptographic key that can be shared publicly without any problems. It is important never to confuse the private key with the public key. The public key can be thought of as the address of a mailbox for which the private key is the key to unlocking it.

Cryptography

XRP — XRP is the → ticker symbol of the cryptocurrency Ripple. Whale — A whale is someone who has a lot of money to trade and can generate massive price increases or price drops. Tether — Tether (USDT) is a cryptocurrency whose value tries to mirror that of the US dollar. Tangle — Tangle is the alternative to blockchain used by IOTA. Stablecoin — Stable coin” refers to cryptocurrencies that are supposed to maintain a “stable value”, for example because they are covered with collateral. One of the most famous “stable coins” is the → “tether” that is covered with the US dollar.

A partial merkle tree connecting transactions matching a bloom filter to the merkle root of a block. Part of a transaction which indicates the earliest time or earliest block when that transaction may be added to the block chain. Synchronizing the block chain by downloading block headers before downloading the full blocks. The Hierarchical Deterministic (HD) key creation and transfer protocol (BIP32), which allows creating child keys from parent keys in a hierarchy.

Address or public key

When a miner sends a block message without sending an inv message first. Address which are only used once https://www.tokenexus.com/ to protect privacy and increase security. A version number prefixed to transactions to allow upgrading.

A potentially-short value used as a seed to generate the master private key and master chain code for an HD wallet. A variation on HD wallet extended keys where only the hardened extended private key can derive child keys. This prevents compromise of the chain code plus any private key from putting the whole wallet at risk. ERC-20 token — ERC – 20 Token (Ethereum Request for Comment) is a set of standard program code often used to create personalized →Token on →Ethereum →Blockchain as part of a →Smart contract. All these tokens can be used in Ethereum compatible →Wallets.

Dust refers to tiny amounts of Bitcoin or other cryptocurrencies left in a user’s wallet. The Bitcoin block subsidy refers to the part of the Bitcoin block reward that is given by the Bitcoin network. Block height is a position in a blockchain, counted by the number of confirmed blocks before it.

• The process of being included into the block is called the confirmation process.
• Testnet coins are not real bitcoins and do not have any value.
• The Ethereum Blockchain hosts many →dApps and →Smart contracts.
• It can also be used to encrypt a wallet, so that it cannot be used without a password.