TheBit glossary for cryptocurrency and blockchain

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a string of characters used to send and receive transactions over the network. It can be represented by a scannable QR code
Agreement ledgers
distributed ledgers used to reach an agreement between two parties
A.k.a "Alternative coins." Most altcoins are a fork of Bitcoin with a minor change to the blockchain algorithm. Change definition
Block ciphers
a method of encrypting, or encoding, in which the key and algorithm are used on a block of data as a whole instead of bit by bit
Block height
each block on the block chain is assigned a number representing it's height. The block at height 0 is also known as the Genesis Block
Block rewards
a monetary reward given to a miner that has hashed a transaction block
a type of distributed ledger, made of unchangeable digital data packages called blocks. Each block is chained one after another using a signature. Blockchains are used a ledger to be shared and accesed by every party on a network
Central ledger
a ledger maintained by a central agency
Chain linking
the process of connecting two or more blockchains allowing transactions between the connected chains
an algorithm used to encrypt/decrypt information
a verification of a transaction that happens on a network. This is part of the Proof-of-work system done through mining. Once a transaction has been confirmed, it cannot be reversed or double spent
Consensus Process
a group of miners responsible for maintaining a distributed ledger use
the study of obtaining encrypted information without the encrypted key
a digital currency which utilizes mathematics and encryption to regulate the creation of the currency and transactions that take place. Cryptocurrencies operate independently of a central bank
the process of encrypting / decrypting information