A cryptocurrency originally forked from bitcoin software that allows data (and transactions) to be written onto its blockchain. Namecoin's primary use is as the censorship-resistant top level domain ".bit," which is similar to ".com" or ".net" domains but is independent of ICANN, the main governing body for domain names.
Near-Field Communication (NFC)
Protocol that enables two devices to communicate wirelessly, without internet connection, when they are placed right next to each other. For example, smartphones or smart watches can be used for payments.
The effect described in economics and business when the value of a product or service increases according to the number of others using it. Because of the network effect, blockchain based assets such as cryptocurrencies become more useful as more people use them.
A computer that runs a blockchain's software, validates transactions, and carries out other tasks to operate the network.
An investor that does not have a high net worth or high salary, and is not elgiible for certain investment opportunities.
Abbreviation for "number only used once." A nonce is an arbitrary number that is used only once in a cryptographic message to ensure that old communications cannot be reused in replay attacks. In blockchain, it refers to the first number a blockchain miner needs to discover before solving for a block in the blockchain. Miners use computing power to guess the nonce as part of Proof of Work, and the miner who is able to find the value is awarded the block and paid a reward.