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Private Key

A private key is simply a number, picked at random. The private key is used to create signatures that are required to spend Bitcoins by proving ownership of funds used…

Proof of Burn

Proof of burn is a method for distributed consensus and an alternative to Proof of Work and Proof of Stake. The proof of burn consensus method requires another cryptocurrency, usually…

Proof of Existence

Proof of Existence is an online service that verifies the existence of computer files as of a specific time via timestamped transactions in the bitcoin blockchain. It is consider to…

Proof of Stake (PoS)

Proof of Stake (PoS) is a category of consensus algorithms for public blockchains that depend on a validator’s economic stake in the network. In other words, miners get greater rewards…

Proof of Work (PoW)

Proof-of-work is the current consensus algorithm used by Bitcoin, Ethereum, and many other cryptocurrencies. A proof of work is a piece of data which is difficult (costly, time-consuming) to produce…

Protocol

The Bitcoin protocol is the set of rules that govern what makes a valid transaction block, as well as how nodes communicate with each other. Some parts of the protocol…

Pseudoanonymous

If something is pseudoanonymous it isn’t truly anonymous, but only gives the appearance of being anonymous. If something is pseudoanonymous there is the possibility that your identity could become known.

Pseudonym

A pseudonym is a fake name or identifier, such as is used on internet message boards or other sites. If used in a pseudoanonymous system there is always the chance…

Public Address

A public address is derived from a private key and allows the owner of the private key to provide others with a method for sending cryptocurrencies to them without compromising…

Public Key

The public key is used to ensure you are the owner of an address that can receive funds. The public key is also mathematically derived from your private key using…

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