Questions tagged [terminology]

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

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3answers
63 views

What is “consensus”?

I’m really struggling to get my head around a particular piece of lingo in the bitcoin/blockchain space, and would really appreciate if someone was able to give a bit of clarity. I have been doing a ...
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1answer
57 views

what is measured in units of sat/kw?

Whilst learning about bitcoin & lightning fees I have encountered the abbreviation sat/kw a few times, most recently here: Why can’t lightning tx’s be signed with sighash single to allow for fee ...
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1answer
41 views

“Fork choice rule” : A general term? or a specific algorithm?

Is "Fork choice rule" a general term including all the algorithms used for choosing a branch among other branches in a fork (including longest chain rule in Bitcoin etc) ? Or is it a specific ...
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0answers
19 views

How to detect a consensus is BFT or not?

Can we divide consensus algorithms into BFT (Byzantine Fault Tolerant) and non-BFT ? If so, How to detect a consensus is BFT or non-BFT ? Is there any non-BFT consensus algorithm example ?
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5answers
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?
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2answers
459 views

What is a txn? How can it be invalid?

I read this in a IRC exchange: verifies your txns against a random node that you don't control. if for some reason that node went rogue, you might have accepted an invalid txn What is a txn?
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1answer
216 views
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14 views

Term meaning query

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 it is used for faster transactions but I am not sure any info. ...
2
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1answer
129 views

Why do we need to chain the blocks (creating blockchain) in a permissioned blockchain?

The main question is: What does "chaining block" mean in a permissioned blockchain? OR in any blockchain network in which creating a new block does NOT need consuming resources/energy ? (even in the ...
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3answers
8k views

What are checkpoints?

I often read that checkpoints protect the network from a 51% attack because an attacker cannot reverse transactions made before the last checkpoint. How exactly does this checkpoint mechanism work? ...
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1answer
34 views

“Ether” vs. “bitcoin”: I wondered when I heard Ethereum does NOT have any crypto-currency (in a Blockchain workshop by speaker)! [closed]

In my opinion, Ethereum has a native coin (crypto-currency) called "Ether". On the other hand, Ethereum allows user to create crypto-token, such as ERC-20, using smart contracts. From my point of ...
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2answers
123 views

What is the unit of time_lock_delta in LND?

LND has a configuration setting called time_lock_delta with the description "The required timelock delta for HTLCs forwarded over the channel.". I assume this to refer to some measure of time, but ...
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3answers
976 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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3answers
51 views

What does channel num_updates mean?

Some LND wallets provide a channel's "Number of Updates". Here's an example from Zap Desktop: The LND gRPC API Channel Reference cites a property called num_updates. The description of this field is ...
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1answer
55 views

Required conditions to be selected as intermediary node (Payment Service Provider) in Lightning Network?

I bring up some important questions about terminology of the Lightning Network and how to select the intermediary node as the Payment Service Provider in a routing channel: The following video (Link ...
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1answer
72 views

“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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4answers
958 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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1answer
28 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
58 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
109 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
44 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
41 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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2answers
29k views

What is an SPV client?

I've seen SPV client mentioned in several places. What exactly is a SPV client? How is it different from a standard client?
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1answer
166 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
53 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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2answers
1k views

What does BIP mean?

There is a lot of reference to BIP 16, 17 and the likes. What does BIP actually stand for? I'm unsure if this is a programming reference or a Bitcoin specific reference; either way I'm stumped.
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2answers
10k views

What is a worker?

Lots of cryptocoin sites and in particular mining pools use the term 'worker,' but there is no clear definition. What is a worker?
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1answer
37 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
92 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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2answers
287 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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0answers
45 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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3answers
72 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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3answers
13k 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
39 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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3answers
10k views

What does “ASIC” mean?

I stumbled on the terms "ASIC" and " ASIC Miner", what do they mean? Is this something related to special hardware?
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1answer
724 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
109 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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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 ...
164
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5answers
225k views

What are “bitcoin days destroyed”?

The concept of bitcoin days destroyed has been proposed as a measure of bitcoin volume. However, I don't think the bitcoin wiki really explains the idea very well. What is the purpose or advantage of ...
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1answer
560 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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4answers
52k 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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1answer
1k 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) ...
151
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5answers
242k 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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5answers
26k views

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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3answers
8k 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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2answers
1k 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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2answers
120 views

Blockchain length by number of blocks or transactions?

It is my understanding that the longest blockchain is the one that should be used. Is "longest" measured by the number of blocks or the number of transactions?
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2answers
6k 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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1answer
7k views

What was the goal of creating the feature of immature coins?

I just ran into the idea of immature coins. Can someone explain to me the idea behind immature coins and what was the purpose of it?
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1answer
11k views

Definition of blockchain height

What is the definition of blockchain height and how is it found/calculated. I get the idea it is related to the SO answer by Gary Rowe, but the word "height" is not mentioned. Yet I see references to ...