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                                Blockchain Glossary & Cryptocurrency Vocabulary Terms



  • Bitcoin: with a capitalized B, it stands for the technology, the community, the protocol and software of Bitcoin
  • bitcoin: it merely describes the unit of currency
  • Altcoins: refers to all the other cryptocurrencies apart from Bitcoin: Ethereum, Litecoin, Dash, Monero, Bitcoin Cash, etc.
  • Bit: a sub-unit of a bitcoin. One bitcoin has a million bits
  • Satoshi: the smallest unit of Bitcoin equaled to 0.00000001 bitcoin and named after Satoshi Nakamoto
  • XBT or BTC: abbreviations of bitcoin
  • c2c: Crypto to Charities, also Coins to Charities 
  • Confirmation: the act of confirming a cryptocurrency transaction’s validity, done by miners, shortly after a block has been mined
  • Mining: the process of computer hardware running complex mathematical calculations that confirm transactions and enhance the security of the Bitcoin network. Miners are those who manage this hardware
  • Recovery phrase or seed keywords: random 12, 18 and 24 words used to derive many pairs of private and public keys
  • Cryptography: a branch of mathematics and computer science that gave birth to cryptocurrencies
  • Private keys: secret alphanumeric password or number used to send and spend cryptocurrencies
  • Public key or Bitcoin address: the alphanumeric address that receives the coins
  • Bitcoin wallet: physical or software “purse” or "account" that will be used to hold and store the coins and public and private keys
  • Whitepaper: a comprehensive report that details the problem and solution a cryptocurrency ICO project hope to solve
  • Transaction ID: an alphanumeric string that has details of a transfer, including the amount sent, the sending/receiving address and the date of transfer
  • Blockchain: a universal public ledger of all bitcoin transactions to date
  • Cold storage: the idea of storing Bitcoin private keys offline
  • HD wallet: a wallet that generates a hierarchical, tree-like structure of several public and private keys right from the root seed key
  • Hardware wallet: a unique device that store public and private keys
  • Transaction fee: what bitcoin user pays before a transaction is completed
  • Block: a group of transactions waiting to be verified
  • Pump & Dump: the act of buying and selling bitcoins when the price is favorable
  • ICO: Initial Coin Offering
  • Hard Fork: software update on a blockchain protocol that’s not backward compatible
  • Soft Fork: opposite of Hard Fork