| PEER-TO-PEER NETWORK (P2P) | is any money declared by a government to be to be valid for meeting a financial obligation, like usd, eur or cny |
| FIAT CURRENCY | sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. however, it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. |
| EVM | also known as tokens, cryptocurrencies are representations of digital assets. |
| CONFIRMATION | a computer on a blockchain network that only verifies a limited number of transactions relevant to its dealings, making use of the simplified payment verification (spv) mode. |
| BIP | these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain. these can have their own unique features and can have bitcoins sent to and from them |
| SHA-256 | any computer network where two or more computers are connected and share resources without going through a separate server. these networks can become massive, allowing for things like file-sharing or cryptocurrency. |
| SIDECHAIN | the successful act of hashing a transaction and adding it to the blockchain. |
| CONSORTIUM BLOCKCHAIN | a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, a consortium of 15 financial institutions. |
| LIGHT NODE | an acronym for “bitcoin improvement proposals” which can be submitted by anyone who wants to improve the bitcoin network. |
| CRYPTOCURRENCY | the ethereum virtual machine (evm) is a turing complete virtual machine that allows anyone to execute arbitrary evm byte code. every ethereum node runs on the evm to maintain consensus across the blockchain. |
| PEER-TO-PEER NETWORK (P2P) | any computer network where two or more computers are connected and share resources without going through a separate server. these networks can become massive, allowing for things like file-sharing or cryptocurrency. |
| FIAT CURRENCY | is any money declared by a government to be to be valid for meeting a financial obligation, like usd, eur or cny |
| EVM | the ethereum virtual machine (evm) is a turing complete virtual machine that allows anyone to execute arbitrary evm byte code. every ethereum node runs on the evm to maintain consensus across the blockchain. |
| CONFIRMATION | the successful act of hashing a transaction and adding it to the blockchain. |
| BIP | an acronym for “bitcoin improvement proposals” which can be submitted by anyone who wants to improve the bitcoin network. |
| SHA-256 | sha-256 is a cryptographic algorithm used by cryptocurrencies such as bitcoin. however, it uses a lot of computing power and processing time, forcing miners to form mining pools to capture gains. |
| SIDECHAIN | these are theoretical, independent blockchains which are “two way pegged” to the bitcoin blockchain. these can have their own unique features and can have bitcoins sent to and from them |
| CONSORTIUM BLOCKCHAIN | a blockchain where the consensus process is controlled by a pre-selected set of nodes; for example, a consortium of 15 financial institutions. |
| LIGHT NODE | a computer on a blockchain network that only verifies a limited number of transactions relevant to its dealings, making use of the simplified payment verification (spv) mode. |
| CRYPTOCURRENCY | also known as tokens, cryptocurrencies are representations of digital assets. |
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