In their Interpretive Letter #1172, the Office of the Comptroller of the Currency (OCC) defines an unhosted wallet as “one where an individual owner of a cryptocurrency maintains control of the cryptographic keys for accessing the underlying cryptocurrency.” Unhosted wallets are also sometimes referred to as “self-hosted wallets,” “private wallets,” and “personal wallets.”
Read moreAn unspent transaction output (UTXO) is an abstraction of electronic money. Each UTXO represents a chain of ownership implemented as a chain of Digital Signatures where the owner signs a message (transaction) transferring ownership of their UTXO to the receiver’s Public Key. The total UTXOs present in a blockchain represent a set, every transaction thus…
Read moreA type of cryptographic proof that can be used to attest to the validity of a state transition.
Read moreTwitter may verify accounts that it determines to be an account of public interest, or accounts that pay a monthly subscription. Public interest accounts typically include accounts maintained by users in music, acting, fashion, government, politics, religion, journalism, media, sports, business, and other key interest areas. A verified account is sometimes called a “blue-tick” Twitter…
Read moreThe term “virtual asset” refers to any digital representation of value that can be digitally traded, transferred, or used for payment. This includes cryptocurrencies but also includes non-cryptographic assets such as assets within video games or proprietary tokens on online gambling sites. It does not include the digital representation of fiat currencies.
Read moreA Virtual Asset Service Provider (VASP) is defined by the Financial Action Task Force (FATF) as a business that conducts one or more of the following actions on behalf of its clients: Exchange between virtual assets and fiat currencies Exchange between one or more forms of virtual assets Transfer of virtual assets Safekeeping and/or administration…
Read moreA wallet is a device (a hardware device, a program, or service) utilized for the sole purpose of storing public and/or private keys. Wallets can also be used to track ownership, receive, or spend cryptocurrencies. A hosted wallet is an online service where a user’s cryptocurrency is stored. The user can send and receive cryptocurrency…
Read moreA wallet address is a way of grouping bitcoin addresses into one group that is likely to be controlled by a single user or by a service. These groupings may not be 100% accurate. There are a number of ways to compute wallet addresses. One way is the “multi-input clustering” method, where multi-input transactions are…
Read moreWhen there is an “X” present in a bitcoin address, that is an OP_RETURN script, which is a way to add a message to a BTC transaction. OP_RETURN is a script opcode used to mark a transaction output as invalid. Since any outputs with OP_RETURN are probably unspendable, OP_RETURN outputs can be used to burn…
Read moreZcash is a decentralized and open-source cryptocurrency developed by the Zcash Electric Coin Company (ZECC) that offers privacy and selective transparency of transactions. Zcash payments are published on a public blockchain, but the sender, recipient, and amount of a transaction remain private. The Zcash project was formally announced by CEO Zooko Wilcox-O’Hearn on Jan 20,…
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