Questions tagged [terminology]

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

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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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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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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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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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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. ...
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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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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
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
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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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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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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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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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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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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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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1answer
216 views

What is meant by transaction 'pinning'?

What is meant by the term 'transaction pinning'?
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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
723 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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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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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
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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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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0answers
98 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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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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1answer
13k 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
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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73 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
94 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
52 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
163 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
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) ...
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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
9k 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
267 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
603 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
550 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
21k 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
239 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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145 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.