The cryptographic link that links sequential blocks together using a ‘hash’ function.
Software that gains access to the blockchain via a local computer and enables it to process its transactions. A client usually includes a cryptocurrency software wallet and/or enables importing of wallets.
A coin represents a digital asset defined by a blockchain protocol and exchanged via that blockchain system.
Cryptocurrencies are un-hackable when private keys remain offline. A cold wallet is not connected to the internet and its data is irretrievable by any hacker or malicious entity. It may be a hardware wallet resembling a USB device or simply a paper-wallet which is a paper with a QR code and a private key on it.
A confirmation simply means that the blockchain transaction has been verified by the network. This happens through a process known as mining, in a proof-of-work system, as in Bitcoin. Once a transaction is confirmed, it cannot be reversed or changed. The amount of confirmations in a block refer to how many blocks have been added on top of that block on the blockchain. Every added block is counted as a confirmation because all nodes on the network indirectly also verify (validate) the blocks before it again. Hence, if 5 blocks are added on top of a block, that block has 5 confirmations. The more confirmations a block has, the less likely it is to be changed (harder to attack), thus the safer the transaction is.
A consensus mechanism is used in computer and blockchain systems to validate single data or single states of a distributed computer network. It encompasses any methodology that is used to achieve agreement, trust and security across a decentralized computer network. The two most common in the crypto world right now are proof of work and proof of stake.
The consensus algorithm is part of the blockchain protocol that defines the rules on how consensus is reached on that blockchain. In order to participate, entities on the blockchain must obey and follow the same consensus algorithm.
A form of digital currency based on mathematics and cryptography, where encryption techniques are used to govern the production of units of currency and verify the transfer of funds. An example of cryptocurrency is bitcoin.
Is the practice and study of techniques for secure communication, focusing on code, cipher systems, methods, and the like. An example is the asymmetric-key cryptography used in the Bitcoin network. Bitcoin public key addresses have matching private keys that allow funds to be unlocked for the spending of the cryptocurrency.
A software or system that enables the storage of your Public keys and your Private keys. These keys allow you to send, receive and monitor your assets on the blockchain. Public key is different than the Wallet Address. Never share your Private keys, seed phrase or password of your wallet with anyone.