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21

Symbolic number, as there can only ever be 21 million Bitcoin in existence. It is not known why Satoshi Nakamoto chose this exact number.

21 Million

The maximum number of bitcoins that there will ever be. The number has been hard-set into the protocol and cannot be changed, ensuring that Bitcoin is a deflationary currency.

Address

In cryptocurrency terms an address is a unique identifier used for sending, receiving and storing cryptocurrencies in a wallet. The address is generated via the private key, and that private…

ASIC/ASIC Miner

Application Specific Integrated Circuit mining with a is a chip specifically created to execute one task, like solving the SHA-256 algorithm puzzle. It’s the most power efficient method of mining…

Base58

Used to make large numbers shorter and easier to parse than binary or the commonly used base10 (using the familiar system of numbers of 0-9). Base58 is the encoding scheme…

BIP

An acronym for “Bitcoin Improvement Proposals” which can be submitted by anyone who wants to improve the Bitcoin network. It should be noted that while anyone can submit a BIP,…

Bitcoin

Bitcoin is the oldest and first cryptocurrency, which was created in 2008 and went live in 2009. It was created by a fictional person or persons known as Satoshi Nakamoto.…

Bitcoin Addresses

A bitcoin address is a string of digits and characters that can be shared with anyone who wants to send you money. It looks like this: 1L4af42d28Ph9jth2RtYE8GDqLZt3RuT6V (Feel free to…

Bitcoin Core

New name of BitcoinQT since release of version 0.9 on March 19, 2014. Not to confuse with CoreBitcoin, an Objective-C implementation published in August 2013. See also Bitcore, a JavaScript…

Bitcoin Protocol

The open source cryptographic protocol which operates on the Bitcoin network, setting the “rules” for how the network runs. These rules are numerous and detailed, spelling out each instance of…

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