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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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“stable-coins”: A formal definition?

In crypto-currency news, we might heard about term of "stable-coins". Can we define a stable-coin as follows: A crypto-currency that is pegged to a fiat / formal currency to minimize the ...
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1answer
26 views

Is there any “permissionless” blockchain “without a native coin”?

We may certainly say that a "permissioned" blockchain cannot have a native coin (or cryptocurreny) since in permissioned blockchain we need a permission to be eligible to participate for transactions ...
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1answer
42 views

If Bitcoin addresses are a single-use token, how several transactions belong to a single address? (Edited)

While in Bitcoin wiki (Link to the page) is explicitly mentioned: "A Bitcoin address is a single-use token." We therefore expect that every address would be belonged to only a single transaction ...
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1answer
58 views

How to fund a bidirectional channel in Lightning Network by two participants? (Edited)

I brought up a similar question here: (Link to question) for a payment channel (in general case and without specifying which payment channel implementation.) Since this funding channels depends on the ...
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1answer
23 views

meaning of “full node” in Lightning Network?

According to this answer: (Link to answer), "A 'full node' refers to a fully validating node on the Bitcoin network, meaning the node validates each block and transaction that happens on the ...
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1answer
33 views

Limitation for minimum output size? AND a fixed per-transaction fee for payments in Bitcoin?

In the following article by http://lightning.network/ entitled: "The Bitcoin Lightning Network Summary", (Link to the article) is mentioned: "Lightning enables one to send funds down to 0.00000001 ...
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1answer
152 views

Lightning Network: asymmetry in the information tracked by each participant?

In following paper, written by Christian Decker et al., there is a paragraph that is not clear to me. eltoo: A Simple Layer2 Protocol for Bitcoin "The central idea of Lightning is to invalidate ...
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1answer
45 views

Implementing an “ad-hoc-like network of payment channels” on top of Bitcoin network?

If we define an ad-hoc network as follows: "An ad hoc network is a network that is composed of individual devices communicating with each other directly." [1] ad-hoc networks do not rely on ...
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1answer
87 views

What is a “half” in Bitcoin?

I saw in an article something about a Bitcoin algorithm half in 2020. What exactly is this? I have tried looking this up but I couldn't find anything that told me what it was only a website counting ...
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0answers
40 views

Why Spectre has a “weak” liveness?

According to this article: (https://medium.com/@avivzohar/the-spectre-protocol-7dbbebb707b5) written by one of Spectre's author (Aviv Zohar), it is mentioned that Spectre has weak liveness. What is ...
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2answers
81 views

Exact definition of “Liveness” and “Safety” properties in a consensus?

Two main properties of a consensus are "Liveness" and "Safety". What are the exact and precised definition of "Liveness" and "Safety" properties in a consensus ? Are the following definitions ...
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1answer
155 views

What is meant by transaction 'pinning'?

I've heard the term transaction 'pinning' several times, but I'm not sure exactly what it refers to.
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35 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
263 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
70 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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3answers
68 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
13 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
51 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
694 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 ...
0
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1answer
38 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
88 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
2k 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?
38
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1answer
12k 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
386 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
68 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
87 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
50 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
147 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
794 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
11k 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
6k 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
242 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 ...
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1answer
559 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
508 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
19k 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
3k 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
203 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
143 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
379 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
193 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 ...
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3answers
905 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
3k 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
7k 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
157 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
124 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
38 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.