A single transaction that combines multiple transactions into one in order to reduce fees and increase efficiency.
Unit used to represent smaller Bitcoin amounts of Bitcoin currency. 1 Bit is equal to 1/1,000,000 of a Bitcoin. There are 1 million bits in 1 Bitcoin.
The first blockchain-based cryptocurrency. Bitcoin was launched in 2009 and remains the most influential and widely recognized decentralized coin. All other cryptocurrencies are referred to as "altcoins."
A business license issued by the New York State Department of Financial Services to companies seeking to engage in activities involving cryptocurrencies with clients in the state of New York. The license is required for performing a variety of financial transactions related to digital currencies.
A web tool available for most cryptocurrencies that allows users to search an address or ID to view its transaction history.
The total number of blocks confirmed in a blockchain's history. The measurement is used to compare copies of a blockchain to determine if a given version is up to date.
The payment given to a miner or staker for securing a blockchain that uses a given consensus mechanism.
The amount of information that can be stored in one block of a blockchain. The Block Size limit of Bitcoin is 1MB. Blockchains with a larger block size allow for more transactions per block and can confirm more transactions at a time.
A digital record of transactions that is distributed, immutable, and transparent. Records containing the details of individual transactions are grouped into blocks, and these blocks are then linked together in ledger, referred to as the chain. Blockchains are used for recording transactions made with cryptocurrencies, such as Bitcoin, and have many other applications. Transactions are verified with a consensus protocol, such as Proof of Work.
When the data stored on a blockchain reaches its capacity due to increasing numbers of users, leading to slower transaction speed.
Bounty is an online reward program that is offered by online platforms for incentivizing positive behavior towards the company
Bitcoin’s ticker symbol.
Rewards offered by companies to individuals who find and report flaws in their underlying software. Several Crypto projects use bug bounties to provide incentives for talented computer programmers to devote time and effort into improving their code.
A market in which most (or all) prices are rising.
When a supply of coins or tokens are destroyed in order to decrease the total circulation of the cryptocurrency.
Byzantine Fault Tolerance (BFT)
A condition describing a distributed computing system, where specific components may fail and there is imperfect information about that failure. The term gets its name from an allegory called the "Byzantine Generals Problem," where different generals must agree on a concerted strategy, but some of these generals are unreliable. In blockchain, a system is Byzantine Fault Tolerant, if it can reach consensus even when some of the network's nodes are dishonest.