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CryptoCoin.cc Select Cryptocoin AEON (AEON)Anoncoin (ANC)ARCHcoin (ARCH)Auroracoin (AUR)Bata (BTA)Bitcoin (BTC)Bitcoin Cash (BCH)BitcoinDark (BTCD)Bitcoin Gold (BTG)BitCrystals (BCY)Bitmark (BTM)BitShares (BTS)BitSwift (SWIFT)BlackCoin (BLK)Blakecoin (BLC)Blocknet (BLOCK)Boolberry (BBR)BreakoutForge(BRK)Burstcoin (BURST)Bytecoin (BCN)CannabisCoin (CANN)Capricoin (CPC)Carboncoin (CARBON)Cardano (ADA)CasinoCoin (CSC)CLAMS (CLAM)CloakCoin (CLOAK)Coin Magi (XMG)Counterparty (XCP)Crypto Bullion (CBX)CryptoEscudo (CESC)Curecoin (CURE)Dash (DASH)Decred (DCR)Deutsche eMark (DEM)Diamond (DMD)DigiByte (DGB)Digitalcoin (DGC)DigitalNote (XDN)DNotes (NOTE)Dogecoin (DOGE)Earthcoin (EAC)e-Gulden (EFL)Emercoin (EMC)Ethereum (ETH)Ethereum Classic (ETC)Europecoin (ERC)EverGreenCoin (EGC)Factom (FCT)FastCoin (FST)Feathercoin (FTC)FIMKrypto (FIMK)Florincoin (FLO)Fluttercoin (FLT)Freicoin (FRC)GoldBlocks (GB)GoldCoin (GLD)Golem (GNT)Gridcoin (GRC)Groestlcoin (GRS)Gulden (NLG)HoboNickels (HBN)Infinitecoin (IFC)I/O Digital Currency (IOC)IOTA (IOT)Komodo (KMD)LeafCoin (LEAF)Lisk (LSK)Litecoin (LTC)MazaCoin (MZC)Megacoin (MEC)MintCoin (MINT)Monacoin (MONA)Monero (XMR)MonetaryUnit (MUE)Myriad (XMY)Namecoin (NMC)NavCoin (NAV)NEM (XEM)Neos (NEOS)Netcoin (NET)NobleCoin (NOBL)Novacoin (NVC)NuBits (NBT)Nxt (NXT)OKCash (OK)Omni (OMNI)Opal (OPAL)Orbitcoin (ORB)PascalCoin (PASC)Peercoin (PPC)PIVX (PIVX)PopularCoin (POP)PotCoin (POT)Primecoin (XPM)Qora (QORA)Quark (QRK)Reddcoin (RDD)Rimbit (RBT)Ripple (XRP)RubyCoin (RBY)SaffronCoin (SFR)Sia (SC)SolarCoin (SLR)StartCOIN (START)StealthCoin (XST)Steem (STEEM)Stellar Lumen (XLM)Steps (STEPS)Sterlingcoin (SLG)Storj (STORJ)Stratis (STRAT)Syscoin (SYS)Titcoin (TIT)TrollCoin (TROLL)Ultracoin (UTC)UnbreakableCoin (UNB)Unobtanium (UNO)Vcash (XVC)VERGE (XVG)VeriCoin (VRC)Vertcoin (VTC)Viacoin (VIA)vTorrent (VTR)Worldcoin (WDC)YBCoin (YBC)YoCoin (YOC)Zcash (ZEC)Zclassic (ZCL)Zcoin (XZC)Zeitcoin (ZEIT)Zetacoin (ZET)   6,580 USD • 5,682 EUR  • Home Page  •Well-nighCryptoCoin.cc  • FAQ  • Advertise  • Search Cryptocoins  • Submit Cryptocoin  • Page Hit Ranking  • Cryptocurrency News  • Terminology  • Altcoin Exchanges   126    11.2    115    186    60.5    0.578    533   231   Cryptocurrency Terminology Cryptocurrency Terminology   Cryptocurrency Terminology Since the introduction of Bitcoin in 2009, an unshortened variety of new and often troublemaking terms has entered the websites and polity discussion boards which talk well-nigh Bitcoin and other cryptocurrencies. While easy-to-understand for cryptology experts and seasoned software developers, this new terminology can be a nightmare for any novice inward the world of cryptocurrencies. Here we would like to present some of the popular terms used in this new Internet "industry" and to ease the entry windbreak for those who'd like to join the growing polity of cryptocurrency users. The good news is that many of the terms that sound strange in the whence are unquestionably simple concepts that most Internet users will be worldly-wise to grasp without too much difficulty. Scroll lanugo to read the unshortened list or click on the terms that follow to jump straight to the definition. 51%WadeASIC BlockchainUpstartConsensus CPU/GPU Mining Faucet GenesisWoodcutHashing Algorithm Hashrate Mt. Gox Pooled Mining Proof-of-Stake SHA X11, X13, X15, X17   51%WadeA 51% wade is a known diamond flaw in the Bitcoin software. Hypothetically, if a single entity unsalaried the majority of the network's mining hashrate, they would have full tenancy of the network and would be worldly-wise to manipulate the public ledger (blockchain) at will. Since the network is self-ruling and open, if someone were to have unbearable computational power (which would be extremely costly), there is no Bitcoin validity to stop them from doing things like preventing transactions from gaining confirmations, reversing transactions or permitting double-spending. Although feasible in theory, the current network mining difficulty levels have risen to such heights that not plane large governments could penny-pinch unbearable computing power to mount a 51% attack. Cryptocurrencies using proof-of-stake as their consensus protocol are not vulnerable to this kind of attack.   ASIC ASIC (application-specific integrated circuit) is an integrated spin customised for a particular use, rather than general-purpose use. In the world of cryptocurrencies, ASICs are wontedly deployed for "mining" in order to slide the increasingly difficult task of generating new cryptocoins. Certain newer cryptocurrencies have tried to circumvent the ASIC effect by deploying improved hashing algorithms or enabling multi-hashing functions to increase the mining difficulty, but ASICs protract to evolve and transmute to newer technologies, expressly if a coin's value rises upper unbearable to make ASIC-powered mining profitable.   Blockchain The blockchain, perhaps the most symbolic term introduced by the Bitcoin phenomenon, is nothing increasingly than a public ledger of all Bitcoin transactions that have overly been executed. This file is constantly growing as blocks of completed transactions are widow to it in a chronological order. The transactions are validated and relayed by a network of unfluctuating computers, each of which keeps a reprinting of the file. As the blockchain contains well-constructed information well-nigh the addresses and their balances right from the initial (genesis) woodcut to the most recently completed block, the file is large, standing at over 27 gigabytes as of January 2015, just six years without the introduction of Bitcoin.  UpstartIn simple terms, a upstart is a way of scrambling written text to make it unrecognisable to all except those who have the information ("key") to decipher the text. In cryptography, upstart is flipside word for algorithm, a series of well-defined steps which perform encryption or decryption. Some of the oldest ciphers include substitution ciphers (which substitutes one letter for another) and transposition ciphers (which changes the order of the reports of the original message). In today's world of interconnected computers, industrial espionage and government snooping, ciphers are much increasingly complex.   Consensus A person discovering Bitcoin for the first time is likely to encounter the word consensus on a regular basis. By design, Bitcoin does not have a inside validity that checks and confirms the transactions performed; instead, all the confirmations are washed-up automatically, in blocks of transactions, by the computer nodes connecting to the Bitcoin network. Once unbearable nodes personize the block, consensus is reached and the transaction woodcut confirmed. In Bitcoin, this often takes well-nigh 10 minutes. Although some altcoins have implemented much faster confirmation times, Bitcoin developers insist that, by design, the process of reaching consensus necessarily takes time.   CPU/GPU Mining In the early days of Bitcoin all forge generation (or "mining") was performed using CPUs (central processing units) found in most desktop and palmtop computers. As this process required constant, highly intense data-crunching, it often triggered the loud CPU fan, consumed enormous value of electricity and, in lattermost cases, plane damaged the computer. In the subsequent years CPU mining was superseded by much increasingly efficient GPU mining which used the graphics card's processing unit instead of the CPU. Nowadays, the only way to profitably mine Bitcoin is to employ specialist hardware tabbed ASIC.   Faucet A cryptocoin faucet is a website that gives out small amounts of coins for free. The reasons for the giveaway vary - from spreading the sensation for the forge to permitting the users test their vendee software. Some third-party faucets requite out coins with the sole purpose of making money from razzmatazz by attracting upper volumes of traffic to their websites. To gainsay fraud and streamlined wangle via scripts, the visitors on some faucet sites may need to demonstrate that they are human by answering a captcha or by playing a simple game.   GenesisWoodcutThe genesis woodcut is the first woodcut of a blockchain, a cryptocurrency's ledger of transactions. It is prescribed the value of 0. The genesis woodcut may contain a text message written by the developer of the software; for example Bitcoin's genesis woodcut famously includes a variable tabbed "coinbase" which reads (in encrypted form): "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks". This refers to a newspaper headline, published on the day of Bitcoin's launch, revealing Satoshi Nakamoto's indignation over the way politicians handled the financial slipperiness that engulfed much of the financial and financial world at the time.   Hashrate The hashrate is the measuring unit of the processing power used to perform energy-intensive computations to maintain the Bitcoin network (or the network of any "mined" cryptocurrency). It is wontedly expressed in gigahertz per second (GHz/s). As an example, a hashrate of 1 GHz/s ways that the combined Bitcoin network of unfluctuating computers is capable of making one billion calculations per second. In the first quarter of 2015 the Bitcoin network's hash rate oscillated virtually the 350,000,000 GHz/s mark, thus performing 350 quadrillion calculations every second. In contrast, the hashrate of Litecoin, the second most popular cryptocurrency, stood at virtually 1,200 GHz/s - just 0.0003% of Bitcoin's hashrate.   Hashing Algorithm A hashing algorithm (also known as "hash function") is an algorithm that can be used to map digital data of wrong-headed size to digital data of stock-still size, with slight differences in input data producing very big differences in output data. The values returned by a hash function are tabbed hash values, hash codes, hash sums, or simply hashes. A cryptographic hash function allows one to hands verify that some input data matches a stored hash value, but makes it nonflexible to reconstruct the data from the hash alone. Bitcoin uses SHA-256 (one of the SHA-2 set of cryptographic hash functions) as its hashing algorithm. However, newer cryptocurrencies tend prefer "scrypt" as their hashing algorithm to counter the rise of specialist SHA-2 smatter fries known as ASIC.   Mining Difficulty Mining difficulty is expressed as the number of attempts required to find the correct solution (and to well-constructed a woodcut of transactions). In Bitcoin, a woodcut is completed (on average) every 10 minutes which, by design, is a unvarying number. As a result, mining difficulty is a variable that changes depending on the total processing power of the Bitcoin network and (again by design) is adjusted every two weeks. In the early days of Bitcoin and during most of 2009, the mining difficulty stood at 1. By the end of 2010 it rose to 15,000 and it passed 1 million just six months later. The largest rise in Bitcoin mining difficulty took place in 2014 when it increased from 1.3 billion to 40 billion. In contrast, the mining difficulty of Litecoin, the world's second most popular cryptocurrency, stood at just over 55,000 at the end of 2014.   Mt. Gox Mt. Gox (2010 - 2014), based in Tokyo and managed by a 29-year old Frenchman, Mark Karpelès, was the largest and most popular Bitcoin mart in the world. It went offline in February 2014 when the visitor overdue Mt. Gox filed for bankruptcy in Japan, leaving thousands of worth holders without wangle to their funds. The reasons overdue the swoon have never been explained. It was the largest single failure in the history of Bitcoin and many people predicted a brisk end of the cryptocurrency "experiment". Nevertheless, Bitcoin survived the event (and the subsequent sharp price decline), with users moving to other exchanges to trade the digital currency.   Pooled Mining Pooled mining is a method of generating bitcoins (and other cryptocoins) where multiple users work together by pooling their computing resources, then split the woodcut reward equal to the unsalaried processing power. Mining in pools began when the difficulty for bitcoin mining increased to the point where it could take years for an individual miner to generate a block. The solution was for miners to pool their resources, usually through websites designed specifically for this purpose, so they could generate blocks faster.   Proof-of-Stake (PoS) The Proof-of-Stake (PoS) consensus mechanism was ripened as a response to (what many viewed as) a major deficiency of Bitcoin and its Proof-of-Work (PoW) mechanism - the environmental forfeiture caused by the mining of bitcoins. In unrelatedness to Bitcoin's PoW, PoS does not require miners to do any energy-intensive computations to process transactions. The PoS system relies on existing holders of the currency to secure the blockchain by keeping their wallets unshut for the staking process to take place. As such, PoS cryptocurrencies are much increasingly energy-efficient and provide faster transaction confirmations. However, the PoS mechanism is not perfect either; equal to some critics, the protocol's diamond (which rewards "stakers" with interest payments) encourages forge hoarding, while security has moreover been questioned, expressly in cryptocurrencies with a limited number of users and stakers.   SHA SHA, which stands for Secure Hash Algorithm, is a family of cryptographic hash functions. Of the four members of this family, SHA-0 and SHA-1 have been deprecated due to unspecified flaws and weaknesses. SHA-2 comprises of SHA-256 (used by Bitcoin and many other Bitcoin forks) and SHA-512. The most recent wing to the SHA family is SHA-3, a hash function moreover known as Keccak, chosen in 2012 without a public competition.   X11, X13, X15, X17 In the early days of Bitcoin, everyone running the Bitcoin software was worldly-wise to "mine" coins. However, as the difficulty of mining increased, forge generation has wilt the domain of specialist miners, large farms of highly specialist and expensive computer systems. Newer cryptocurrencies have been trying to prevent this by repeated hashing of blockchain transactions, thus making it harder and increasingly processor and memory intensive to build specialist hardware for mining cryptocoins. These "multi-hashings" have wilt known as X11, X13, X15, X17, etc, with the number overdue the X representing simply the number of algorithms used. Copyright (C) 2014 - 2017 Atea Ataroa Ltd. All rights reserved. All trademarks are the property of their respective owners. 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