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Change Address

A UTXO system like Bitcoin treats crypto similarly to physical cash. Let’s say that Bob has 2 Bitcoins. Bob wants to give Alice 1.75 bitcoin. Bob’s wallet first unlocks his UTXO of 2 bitcoins and uses this whole 2 bitcoin…

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CoinJoin and SharedCoin

CoinJoin and SharedCoin: CoinJoin is an anonymization method for bitcoin transactions proposed by Gregory Maxwell. The following idea is behind CoinJoin: “When you want to make a payment, find someone else who also wants to make a payment and make…

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Consensus

Consensus is a mechanism, usually used by most nodes on the network, all having the same blocks in their locally-validated blockchain, to achieve the necessary agreement regarding the state of the distributed network.  

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Create Cryptocurrency from Scratch

There are various options to create a new cryptocurrency from scratch, however, answers to some fundamental questions must first be provided:  Consider what is the purpose/requirements of the new cryptocurrency, Select the blockchain type: Public, Open, Permissioned etc.  Select a consensus mechanism…

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Crypto Dusting

Crypto Dusting is a cryptocurrency privacy attack that sees malicious actors sending a very small amounts of coins—typically referred to as "dust"—to identify the person or entity that controls the wallet. The value of dust is below the threshold required…

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Crypto Reflection Meaning

Reflection tokens (sometimes called reward tokens) are cryptocurrencies that reward holders with new tokens in their wallets, by employing a mechanism in which transactions are taxed and a percentage of the tax charged is redistributed to holders of the token.…

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Crypto Staking

The term is used for cryptocurrencies that run on a Proof of Stake blockchain.  Contrary to Bitcoin's Proof of Work consensus mechanism, in which the nodes (participants) are required to solve a difficult mathematical problem requiring energy intense computer resources, being…

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Crypto Terminology

The list of crypto terminology can be extended endlessly. Some of the most used tems are: Blockchain, Hash, Mining, Consensus Algorithms, Proof of Work, Proof of Stake, Node, Hard/Soft Forks, 51% attack, Node, Wallets (desktop, mobile, hardware, paper), Hot/cold storage,  Tokens…

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cryptocurrency

Cryptocurrency

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative…

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