Peer-to-peer, (or its abbreviated form P2P) refers to a type of computer network, which use a distributed architecture. In P2P networks, all the interconnected devices and computers are called peers, and workloads are shared and exchanged among them. Each participant in such a peer-to-peer network is considered equal to all the others. Primary administration devices are absent in such patterns as well as privileged peers.
A paper wallet is a cold storage method of cryptocurrency saving. The user prints his public and private keys on paper, which he then stores and saves in a secure place. Specially generated QR code serves as a key that can be scanned for all future transactions. This method gives complete control to the wallet user.
It is an arbitrary transaction attachment that consists of 32 bytes (64 hexadecimal characters) or 8 bytes (in the case of integrated addresses). It is used to identify XMR transactions to merchants and exchangers.
The term "pre-mining" is used regarding the cases when all the coins have already been mined before the public coin announcement. These cryptocurrencies are different from Bitcoin: it is being distributed along with the mining process. Pre-mined cryptocurrencies are a vast source of discord in the community.
A good example of a pre-mined coin would be Ripple (XRP). It was created for a centralized payment system that creates a cost-effective and quick way to send and receive funds with bank cooperation. The majority of XRP is still owned by Ripple and is closely controlled.
The price bubble is a slang term used to describe a situation of an asset's rapid increase in price over a short period of time without any rational value support of the process.
The ability to keep all the data about transactions and operations to the parties involved without non-authorized access by third parties.
A cryptographic code that allows a user to access crypto money on his or her wallet. A private key is an integral aspect of bitcoin and altcoins. Like the other types of electronic keys, it protects user's funds from theft and unauthorized access.
One of several consensus mechanism algorithms used within a blockchain network. Proof-of-burn makes sure that all nodes participating in the process can come to a unanimous conclusion about the valid state of the blockchain network. This algorithm is used to exclude the possibility of double spending cryptocurrency coins.
Proof of Existence is an online service used to verify the existence of files as of a specific moment via transactions with time stamps incorporated to the blockchain. It was introduced back in 2013 on an open source basis.
Proof of stake (PoS) is a subtype of consensus algorithm used by a cryptocurrency blockchain network to achieve distributed consensus. In such networks, the creator of each next block is chosen via various combinations of randomly selected parameters (wealth or age).
A proof-of-work (also PoW) protocol is a mechanism of consensus. Its main function is deterring DOS attacks and other various service abuses, including spam letters, on a network by requiring a certain amount of work from the service requester, usually meaning processing time by a computer.
A public key is a cryptographic code that makes possible receiving cryptocurrencies into an account. The public key, along with the private key, is a main tool of private security used in the cryptocurrency sphere.