Blockchain Vocabulary

This is a list of crucial bitcoin and technological terms that you will see all over the place. There are a lot of big words that computer scientists use that are practically useless to us, this vocabulary list was created to help sort through the bitcoin bullshit.

 

 

Bitcoin

Digital Peer to Peer currency that is not regulated by central banks.

Blockchain

This is the technology behind bitcoin. The blockchain is seeing huge investments by national banks around the world.

The Time Value of Money

The Time Value of Money (TVM) is the idea that money available at the present time is worth more than the same amount in the future due to its potential earning capacity. This core principle of finance holds that, provided money can earn interest, any amount of money is worth more the sooner it is received.

Simply, The Time Value of Money states that money today is more valuable than money in the future because the sooner you have money, the more opportunities you have to earn with that money.

Mining
To create bitcoin, computers solve complex math problems in hopes on finding bitcoin.

QR Codes
QR Codes are those little black and white boxes that you’ve probably seen everywhere. These codes allows us to scan and send digital assets within seconds.

Exchanges

Wallets
Bitcoin wallets allow you to safely store your bitcoin and bitcoin address. All wallets are not created equally, see our guide for the best bitcoin wallet information.

Digital Assets

Mt GOX

DAO

Consensus Algorithm

Smart Contract

Prediction Market

Proof of Work
Proof of Concept

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