Questions tagged [terminology]

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

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What is difference between Lightning Wallet and Lightning Node?

I am confused with the terminology of lightning node vs and wallet, as I see that each individual can run its own wallet like eclair so does that mean the person running a wallet is also running a ...
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1answer
203 views

Why is "regtest" called "regtest"?

Bitcoin "regtest" is for when you want to run a local version of Bitcoin where the state is only shared within a small community, whereas both "mainnet" and "testnet" are ...
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1answer
57 views

What does the abbreviation "HTLC" stand for?

I noticed a discrepancy in what various sources state the abbreviation HTLC is short for. It is... "Hashed Timelock Contract" according to the Lightning Network Paper "Hashed Time ...
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1answer
159 views

How can I efficiently search the bitcoin-dev mailing list for discussion of a specific term?

How can I efficiently search the bitcoin-dev mailing list for discussion on a specific term e.g. deprecating BIP37 support? This question was asked by pinheadmz on IRC.
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1answer
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How do difficulty, hashrate, and network hashrate fit together?

I understand that there are multiple terms for the idea of how hard it is to successfully mine BTC. The terms I have seen are "difficulty", "network hashrate" and "hashrate&...
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What is meant by Bitcoin dust?

I've seen the term "dust" used to describe small transactions that might be considered as spam by the Bitcoin network. Is there is a generally accepted definition of this term?
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1k 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
637 views

Is a P2WPKH address synonymous with a Bech32 address?

BIP142 when encoding a segwit P2WPKH address is using a base58 address format (address p2xtZoXeX5X8BP8JfFhQK2nD3emtjch7UeFm in the example). I understand that BIP142 predates BIP173 but are P2WPKH ...
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2answers
5k 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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What is a soft fork? What is a hard fork? What are their differences?

When people talk about possible changes to how Bitcoin works they sometimes say a particular change can be implemented as a soft fork. What does that mean? How does this compare to a hard fork?
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1answer
644 views

Redeem script. script hash, witness script and witness program

I have a little confusion about naming in Bitcoin. Redeem script is the conditions that will be satisfy. For example P2PKH inside P2SH OP_DUP OP_HASH160 <PubKHash> OP_EQUALVERIFY OP_CHECKSIG ...
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1answer
119 views

Does Bitcoin Core have/need an archive mode?

Similar to Ethereum's Archive Node: Stores everything kept in the full node and builds an archive of historical states. Needed if you want to query something like an account balance at block #4,000,...
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1answer
49 views

What does "Green address verification" mean in the context of transaction validation?

I am only new to Bitcoin and I would like to know what a "Green address verification" is. I have an Electrum wallet ver 3.3.6 and I think the term is being used in the context of faster transactions ...
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2answers
71 views

What is the control block in Taproot?

What is the definition of "control block" in the context of Taproot? It is referred to in standard.cpp in the Bitcoin Core repo and in BIP 341.
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1answer
504 views

Sidechain vs layer 2

I want to know what's the difference between "sidechain" and "layer 2". Is it the same thing ? Thanks
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1answer
135 views

What exactly is a "blockchain developer"?

Hello everyone. This isn't specifically a bitcoin thread but due to recent events I think it is important that people get an understanding of the real Elon Musk as I have no doubt he will try and ...
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1answer
79 views

What does "buy the dip" mean?

I keep hearing "buy the dip" constantly with Bitcoin people/comments. I get that it means that you should buy Bitcoin while the price is temporarily low, but what do they mean by it? Do they ...
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2answers
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Isn't burning bitcoins a kind of fraud?

BitCoin burning is the process by which digital currency miners and developers can remove bitcoins from circulation, thereby slowing down inflation rates or reducing the total circulating supply of ...
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1answer
162 views

BTC Treasure hunt

Alright, I’m new to Bitcoin/Crypto, and this might be a long story but worth it. My life long friend had a $50 Visa gift card back in 2009-2011. His friends were over the house one day and mentioned ...
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1answer
192 views

What is the difference between key aggregation and signature aggregation?

What is the difference between key aggregation (e.g. MuSig) and signature aggregation? Many people (including myself) have in the past used these terms interchangeably. Why is it important to be ...
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Please help me with this bitcoin sentence

The sentence (I need to add underneath the main paragraph) that I am unhappy with is: If you are not awaiting any newly broadcasted deposits this message may not apply to you. I am unhappy with my ...
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I need help figuring out what happened with my BFGminer overnight

I'm a newbie to crypto and was experimenting with usb erupters because I was getting into ETH mining with my rig and wanted to test it on something less risky. I ran ck pool for my USB erupter just to ...
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5answers
12k views

What are tainted coins exactly?

I've come across the term of a tainted coin several times now. I understand that coins, or better, the origin of a coin can be traced throughout the blockchain. I've read that bitcoins can be ...
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1answer
211 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
14k 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
29 views

What exactly is sol/s as far as a hash rate is concerned? [closed]

What is sol/s? Is it the same as MH/s? Please don't answer it depends, because that makes no sense! I have already tried googling this question but to no avail.
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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
1k views

What is the difference between "native segwit" and "bech32"?

People seem to be using "native segwit" and "bech32" interchangeably. Are they really the same thing?
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42 views

How is the current hashing power of the entire network measured in real time?

Does hash power refers to mining nodes only ? We don't know how many nodes there are on the Bitcoin network, correct? How do we count them? Would we need to know [2] in order to figure out what the ...
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1answer
59 views

What does it mean for a transaction to be over spent?

IIRC, a transaction's inputs add up to its outputs plus the transaction fee. So how would a concept like "over spending" fit in? I saw this in a Bitcoin library I'm maintaning and didn't find this ...
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30k 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
456 views

What does PSBT stand for?

What is PSBT? What does it stand for? bitcoin-qt has menu items "Load PSBT from file…" and "Load PSBT from clipboard…"; the dialog box says the file format is "Partially ...
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1answer
1k views

Why is coinbase mentioned in a BIP?

I thought that BIPs were similar to Pythons PIPs. So I was confused when I read BIP 34 mentioning coinbase explicitly. The author, Gavin Andresen, seems not to have a connection to coinbase. I thought ...
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1answer
121 views

How do we know which soft-forks were implemented using User-Activated Soft Fork or Miner-Activated Soft Fork?

This seems to be the most common definition When a majority of miners upgrade to enforce new rules, it is called a miner-activated soft fork (MASF). When full nodes coordinate to enforce new rules, ...
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3k 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
285 views

Why is the blockchain called Distributed Public "Ledger" and not "Journal"?

Bitcoin (or more generally, blockchain) 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 then ...
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2answers
308 views

Who is the decision body for forking a blockchain ledger?

Is it fair to compare the decision body responsible for forking a blockchain as 'escrow officers'? How can users of the blockchain network dare to the treat the distributed ledger as immutable as long ...
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1answer
84 views

What is the difference between Consensus and Distributed Consensus?

This is more of a clarification than as a question. Since I didn't have the rep to post a comment in this question, I'm putting this itself as a question. Sources I've referred till now: A ...
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44k views

What are bitcoin "confirmations"?

When I receive bitcoins I see a certain number of "confirmations" in the client. What do these mean? Why do most sites make me wait for 6 "confirmations" before a purchase will go through?
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Is this the ledger?

Lots of articles about bitcoin say that anyone can see all the transactions that have ever taken place, and they call that "the ledger." But none of those articles give a link for where to ...
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193 views

Ironically, encryption is not an important part of bitcoin (?)

The above statement is taken out of a book which I've been reading: Mastering Bitcoin 2nd Edition. ...as its communications and transaction data are not encrypted and do not need to be encrypted ...
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7answers
5k 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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3k views

Who are Alice and Bob?

Simply: who are Alice and Bob, and why are they mentioned in every Bitcoin-related article I read about that talks about Bitcoin transactions? What is the history or mystery of these two?
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1answer
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What is a stale blockchain tip? Is it a blockchain tip missing the latest mined block?

Stale blocks and orphaned blocks are defined here. What is a stale blockchain tip? Is it a blockchain tip missing the latest mined block? Or is it a blockchain with a stale block (as defined in that ...
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4answers
58k views

What are orphaned and stale blocks?

If I understand it right, a stale block is a block for which an earlier confirmation has been found and was accepted by majority of people. This block is considered invalid and is later never used. ...
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252k views

What is a 'Satoshi'?

I am aware that Satoshi Nakamoto is the author of the paper that originated Bitcoin and the creator of the original bitcoin client. However, I often hear the term Satoshi as if it was a monetary unit. ...
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1answer
1k views

What exactly does censorship resistance mean?

What features are needed for censorship resistant blockchain? In what situation can you say it's not censorship resistant?
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What do "support" and "resistance" mean?

I'm still very much a newbie to all this and would like to get some help.
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5k views

Plain text for the Bitcoin symbol

It seems that the most widely used symbol for Bitcoin is a B with two vertical lines through it1. It makes sense, as a single letter with a line or two through it is common for many currencies. Is ...
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1answer
833 views