A physical piece of paper containing a private key, a public key, and often corresponding QR codes. Paper wallets are considered an unsafe method of storing cryptocurrency and should only be used with extreme caution.
The main blockchain that may be connected to sidechains or subchains.
A blockchain network that requires access to be part of. A permissioned system is a private and closed system. They differ from public and private blockchains in that certain actions can only be performed by certain identifiable participants.
A public blockchains (like Bitcoin) that anyone can generate an address and transact on.
Phishing is the fraudulent attempt to obtain sensitive information by disguising oneself as a trustworthy entity in an electronic communication. Victims are fooled into sharing their passwords, usernames, cryptocurrency keys, or credit card details.
PoI is a consensus mechanism introduced by NEM. Similar to PoS, PoI requires nodes to stake currency to be eligible to create blocks, and takes into account the user's involvement in the network in choosing which node will confirm transactions on the blockchain.
Any cryptocurrency that places a strong emphasis on privacy and added anonymity of transactions between users. Examples of privacy focused coins include Monero, Dash, and ZCash.
A form of cryptography that allows a user to access information that has been encrypted and broadcasted with a public key. Private keys are an integral aspect of Bitcoin and other cryptocurrencies. Users control their coins with their private keys.
Proof of Burn (PoB)
A consensus mechanism for verifying a blockchain in which miners send coins to an unspendable address. PoB cryptocurrencies work by burning Proof of Work mined cryptocurrencies, so the ultimate source of scarcity remains the proof-of-work-mined "fuel".
Proof of Stake (PoS)
A consensus mechanism that involves having users stake coins to secure (mine) the network. PoS is used used to confirm transactions and add new blocks to the chain. It was created as a more energy efficient alternative to the original algorithm used in Bitcoin, called Proof of Work.
Proof of Work (PoW)
The consensus mechanism introduced by Bitcoin. PoW requires miners to compete against each other to add new block and earn rewards. It creates an incentive system that requires a not-insignificant but feasible amount of effort in order to deter attacks.
In online gambling provably fair algorithms are algorithms that can be analyzed and verified for fairness by any user. Online casinos can combine the increased transparency of blockchain with provably fair games to improve the gaming experience.
Something that is done or written under a unique identifier that is different from a user's real name. Most cryptocurrecnies are pseudonymous, where the coin holder's address serves as their pseudonym.
A cryptographic code that allows a user to receive cryptocurrencies into their account. The public key is used together with the private key to ensure the security of blockchain transactions.
A rapid rise in a cryptocurrency’s price.
Pump and Dump
When a cryptocurrency’s price increase and then quickly crashes. Pump and dumps are often coordinated manipulations of the market by groups of profit-driven individuals.