This is one of the unbelievable facts about cryptocurrency and specifically Bitcoin. A developer used 10,000 bitcoins to pay for 2 pizzas in 2010.
Abbreviation for "Transmission Control Protocol/ Internet Protocol", a basic set of software communication rules and protocols providing the functionality of the Internet (and other similar networks).
The execution time of exchange usually varies from 5 to 30 minutes, depending on how quickly the transaction will be confirmed by the network and the new block will be formed in the blockchain network.
Time-specifying signature contained in every block in the blockchain. It helps to validate the segment hash and also increases blockchain security by increasing the difficulty of blockchain manipulation. To save a free space, timestamps exist in the form of medians and are not exactly accurate (they don't really need to be).
Value representation units created specifically for virtual currency purposes and residing within their own blockchain. They are mostly used as a means for fundraising in the form of a mass-sale.
Open-source software system created with maximum anonymity in mind. Essentially a volunteer network created with numerous interconnected access points which redirect Internet traffic as relays, making tracing of the user much harder for anyone tracking him.
The final limit for the number of coins for a specific cryptocurrency; Bitcoin has a total coin supply of 21 million.
A chronologically stamped "page" of a blockchain, containing information on transactions over a certain period of time. Blockchain consists of many transaction blocks.
A fee the customer must pay in order for his e-payment to be processed by the network. The transaction fee often serves as a reward for miners who make the transaction possible. The amount of fee varies across different service providers and is usually from 0.5% to 6.0%.
Cryptocurrencies that were initially created to be used as money and specifically designed for the exchange for goods and services.
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A short for "transaction ID", a combination of numbers defining a transaction. It makes the transaction identifiable, therefore, there are no two similar transaction ID's; they must always be unique.