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Questions tagged [terminology]

Questions concerning terminology, jargon, abbreviations, acronyms and phrases that are essential to the cryptocurrency community.

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Blockchain-based DLT vs. Graph-based DLT

We may divide Distributed Ledger Technologies (DLTs) into the following types: (1) blockchain-based such as Bitcoin, Ethereum, Hyperledger etc. (2) Graph-based DLTs, where every block/vertex can ...
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1answer
17 views

What does Starkware Industries mean?

What does Starkware Industries mean? Is it related to Zcash company? Its name apparently comes from Zero Knowledge Stark (zk-STARKs). I appreciate it if someone could define Starkware Industries in ...
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1answer
27 views

Can we estimate how many node has the Bitcoin network? [duplicate]

Is it possible to estimate the amount of nodes (hosts) are connected to the Bitcoin network in a given time? Note: Here node means host.
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1answer
40 views

Differences/similarities of “Bitcoin script” and “Ethereum smart contract”?

Can we compare Bitcoin script and Ethereum smart contract ? And if yes, What are differences/similarities of Bitcoin script and Ethereum smart contract in sense of functionality, architecture and ...
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4answers
66 views

Is blockchain always “public”?

Is the following definition of blockchain by its wikipwdia page correct? Where it is mentioned: A blockchain is a decentralized, distributed and public digital ledger ... Cannot we have a ...
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0answers
8 views

What does “third party liquidity” mean in blockchain technology?

In this what paper, it's mentioned that one of the reasons to use blockchain technology for the energy trading is: Provide 3rd party liquidity. What does "third party liquidity" mean in blockchain ...
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1answer
48 views

What is the correct use of the term “validating”?

First, in the Bitcoin context what does validating mean? Second, is it incorrect to say something like " the average time it takes to validate a block by the network is 10 minutes." The way, I ...
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2answers
363 views

What the difference between old segwit (3) and new segwit address (bc)?

i'm not that kind of person who understands cryptography and math, can you tell me simply the main purpose of new segwit address? are transactions fee the same for new segwit (bc1)? instead of "Old ...
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1answer
32 views

Proper grammar regarding Bulletproofs

For non-native speakers talking about Bulletproofs with correct grammar is tricky. I tried to use the white paper as a reference, but it is not consistent. Even in the abstract it mixes plural and ...
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0answers
74 views

What is QuoteAssetVolume and BaseAssetVolume?

This is a JSON result for a candle returned by an exchange API for ETHBTC: { openTime: 1517340600000, open: '0.10635000', high: '0.10742000', low: '0.10635000', close: '0.10687200', volume: ...
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4answers
1k views

Are BTC and Bitcoin Core the same?

I recently saw an offer to "Buy Bitcoin Core with your credit card". Is this "Bitcoin Core" the same thing as BTC?
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1answer
11k views

What are Channel Factories and how do they work?

One of the open research questions for Lightning Network is that it will take a massive amount of on-chain transactions to create enough payment channels for all the Lightning Network users. Lately, I'...
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1answer
185 views

What is the difference between Segwit and non-segwit?

What's the difference? What is the definition of these two terms?
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2answers
67 views

Why isn't bitcoin itself its own ledger?

Sorry if I'm asking a very daft question here, bitcoin newbie. When I first heard of bitcoin, I thought bitcoin itself kept a record of who had spent it and when. I didn't know the blockchain was a ...
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2answers
2k views

What is the difference between on-chain scaling and off-chain scaling?

What is on-chain scaling and off-chain scaling? What is the core difference between on-chain scaling and off-chain scaling?
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1answer
84 views

Definition of `Idx`

idx is an integer in source code of bitcoin related softwares. https://github.com/decred/atomicswap/blob/70f795e/cmd/btcatomicswap/main.go#L391 https://github.com/btcsuite/btcd/blob/...
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1answer
47 views

Does bitcoin deflate or does it appreciate?

How are these two terms related? Bit Coin is obviously appreciating in value, but does that alone mean that the economy is deflationary? Or, is deflation and inflation a result of external pressures ...
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1answer
132 views

what are chaff coins in cryptocurrency?

I read in several paper about "chaff coins" but I could not find a clear definition for this phenomenon. Does it refer to a specific coin? Is there any "formal" definition for that ? Reference: ...
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1answer
485 views

Race Attack vs. Double-Spending Attack: are they same?

Race Attack vs. Double-Spending Attack: are they same? I know definition of both attack both some times it is called as "race attack" and most of the time called as "double-spending". I guess (maybe) ...
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3answers
9k views

What is the difference between a miner and a full node?

I have trouble finding the difference between a full node and a miner. It looks like these two names are used interchangeably which I think is not entirely correct. Miners do process blocks and full ...
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1answer
5k views

What is the unit “Th” as in Th/s? [duplicate]

I keep seeing this everywhere, but it seems impossible to search. What does Th stand for? What does it mean? How do you calculate the Th? For example, "The 13.5 TH/s is $2773.28 US". What does that ...
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1answer
233 views

Public-Ledger or Public-Journal

Said Bitcoin (To speak generally; Block-Chain) is a Distributed Public Ledger and as we know; The Journal is a book where all the transactions are recorded immediately when they take place which is ...
2
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1answer
521 views

Are memory pool and transaction pool the same thing?

As far I know, unconfirmed transactions are stored in the memory pool. However, in the Bitcoin wiki, I see a data structure called transaction pool. Are they the same thing or not? Also for the orphan ...
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2answers
453 views

Do we put all the transactions in the memory pool?

I wonder if orphan transactions are also stored in the memory pool? If yes, how do the Bitcoin client distinguish between the orphan and non-orphan transactions?
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1answer
16k views

What is a nonce?

When I see the block info on blockchain, I see that there is a field named "nonce", I could not find any relevant information on web regarding what a nonce is. Please explain what a nonce is what is ...
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2answers
2k views

What is the “Count” column in the order book on Bitfinex?

I can't understand what count means here. I would have assumed that it was the number of orders at that price, but the total column does not seem to reflect this. Can't find any info in the ...
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1answer
2k views

What exactly does “trustless” mean in terms of Bitcoin?

People often say that Bitcoin is trustless, what exactly does it mean? I know you don't need to trust one of following entities when you transact in Bitcoin, but what don't you need to trust? third ...
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1answer
168 views

What exactly does redeem in the context of bitcon mean?

In this website, it says "The purpose of pay-to-script-hash is to move the responsibility for supplying the conditions to redeem a transaction from the sender of the funds to the redeemer." I looked ...
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1answer
140 views

How can a Bitcoin transaction be used multiple times (If it is so)?

My understanding is that a transaction is a transfer of value between Bitcoin wallets that gets later included in the block chain. So a Bitcoin transaction is used only once in my understanding.
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3answers
356 views

What does the term “Electronic Cash” stand for in computer science lingo?

Very often in various online discussions, people cite the word "cash" from the Bitcoin whitepaper title as evidence that Bitcoin should be used for everyday transactions. I've seen mentions that the ...
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1answer
5k views

Replace-by-Fee vs Child-pays-for-Parent?

Both RBF and CPFP attempt to solve the problem of transactions not confirming because of an insufficient fee. What are the pros/cons of using one vs the other? Are both currently functional and ...
5
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1answer
185 views

I keep hearing about MAST, what is it and what does it do?

So, somebody asked me about MAST yesterday. Apparently, it's formalized in BIP114 – Merkelized Abstract Syntax Trees. I couldn't explain what it was and what advantages it'll bring us. What are ...
2
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3answers
795 views

What is the meaning of the term “full-node”?

There seem to be some different interpretations of what the term "full-node" implies. E.g. there seems to be some disagreement whether a pruned node is still a full-node. So: What characteristics ...
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2answers
2k views

What is the minRelayTxFee?

What is the minRelayTxFee? What is it used for, what's the default value and how does the value change?
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3answers
6k views

What does “lock time” mean?

I got a transaction that is still not confirmed for about one week, and I can see a field called "Lock Time" that says: Lock Time Block: 419382 https://blockchain.info/en/tx/...
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1answer
155 views

What does the blockchain represent?

What does the blockchain represent? Is it the current balance of each account or is it the complete ledger?
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1answer
121 views

What is MaxBTC and what it represents?

I am trying to understand what is the phrase "MaxBTC" and for what is it used? I am new to bitcoins. Thank you very much.
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1answer
36 views

Is it accurate to refer to Bitcoin as “money”?

For example, would it be considered right if I said "I already gave you the money, Bob!" when I gave him Bitcoin?
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2answers
5k views

What does “Activating Best Chain” mean?

What does "Activating Best Chain" mean? My Bitcoin Core doesn't freeze, it just takes a while. I'm curious as to what it's doing.
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4answers
922 views

What is a Bitcoin wallet?

What is a wallet in the context of Bitcoin? What are wallets used for? What relation do wallets have to other concepts such as addresses, private-keys, client-software, and Bitcoin balances?
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4answers
17k views

What is a mBTC?

I have been trying to find out just what is an mBTC is. Everywhere I look I cannot find out what the value is compared to a Bitcoin. I was hoping you could advise me of what the value is.
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1answer
183 views

“Sipa” definition? (old terminology, circa 2011-12)

Vanitygen refers to "Sipa" format here: Currently, it is difficult to import the private key into bitcoin. Sipa's showwallet branch has a new command called "importprivkey" that accepts the ...
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1answer
3k views

What does DOA stand for?

What does DOA stand for? I've seen this in the context of P2Pool stales, specifically here.
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2answers
242 views

Is there a special name for the block currently at the head of the chain?

Just as we have the genesis block which is block 0, is there a special name for the block currently at the head of the chain? Obviously such a block would be observer dependent and never absolute but ...
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2answers
2k views

What exactly is XBTC?

What is xbtc? I saw many articles refered xbtc,just like "btc to xbtc". But there's no material telling what it exactly is.
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1answer
992 views

What is a block?

I know bitcoin has a block chain that is from my best representation a list of blocks. I know the block holds many transactions. But i'm still very much lost as to what a block is and how a block can ...
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1answer
224 views

What does it mean when a block is “kicked”?

While mining on a NOMP mining pool, I noticed that when you add the confirmed blocks and pending blocks together, they rarely add up to the total blocks found. It is my understanding that the missing ...
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1answer
43 views

What is NXT's “lessor”?

While reading NXT's API wiki page I came across something called a "lessor", but I can't find its definition anywhere. What is a lessor?
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1answer
135 views

Is BIP analogous to RFC?

It seems that a BIP (Bitcoin Improvement Proposal) is very similar to an RFC (Request for Comments). Can anybody confirm this, or describe major differences in the two approaches?
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1answer
203 views

Is there a correct way to refer to “orphan” blocks?

I was reading a passage on the bitcoin wiki that pointed out that it doesn't make sense to call invalid chains "orphans," since, by definition, every block in the blockchain except the genesis block ...