It is translated as an active. In the cryptocurrencies world, it refers to a type of token that can represent only what it is (physical or not) and is transferred digitally.
Distribution of cryptocurrencies completely free of charge. They are distributed among all users who meet various requirements.
It is used to refer to any cryptocurrency that is not Bitcoin. This name comes from the mix of the two words ‘Alternative and Coin’
The name a structure receives that relates all the transactions of a block and groups them among pairs in order to obtain a hash that acts as a unique identifier (called Root Hash) for all those transactions.
ASIC (Application-Specific Integrated Circuit)
Application-Specific Integrated Circuit are computer equipment specialized in concrete computational calculations. There are a variety of ASICs specialized in cryptocurrency mining. Initially they were developed for the Bitcoin algorithm, but now we can find them for almost all existing algorithms.
Protocol implemented within a cryptocurrency, which prevents the use of ASICs for mining. It occurs in cryptocurrencies based on mining by proof of work (PoW) with the aim of avoiding the centralization of mining in a few hands with a lot of money.
Attempt to obtain control of a cryptocurrency, by obtaining 51% or more of the power of the network or of the cryptocurrencies of the network.
Bitcoin Improvement Proposal is a procedure that was consolidated as a standard to propose new features in Bitcoin. This procedure was proposed and described in the BIP0001 by Amir Takir in 2011.
It is an identifier that contains between 27 and 34 alphanumeric characters and usually starts with 1 or 3. They are generated in a simple way by means of a type of program called wallet or purse. Bitcoin is a system based on asymmetric cryptography, so when you generate a Bitcoin address, you generate two keys: public and private. A Bitcoin address is simply the public key, which you use to receive the money and display as your “account number” Bitcoin.
It refers to the unit of measurement. It is the unit of account of the Bitcoin network. A bitcoin is divisible into 100 million pieces called ‘satoshis’.
Protocol and payments network between users, open and free, not owned by any company or government, but managed instead by a decentralized accounting book called Blockchain through advanced mathematics (cryptography).
First Bitcoin client that implements a command protocol through remote procedure calls. It is licensed by MIT in the 32bit and 64bit versions for Windows, Mac OS X and GNU / Linux based systems.
Bitcoin Cash (BCH)
It’s a cryptocurrency that was born on August 1, 2017 as a consequence of the most notorious fork of the Bitcoin network so far. It was born with the objective of achieving payments and offering greater capacity of transactions per second, less commissions and more agile validation. Its most common symbol in markets and places where it is accepted is BCH.
People who are dedicated spreading the word of Bitcoin, making known how it works, advantages and precautions.
It’s the first type of distributed network based on cryptography in which the information is stored in a set of interlinked blocks. It allows the validation of information and the exchange of value between peers without a central issuing authority or central administrator.
It is a private blockchain where the nodes must be previously authorized by a central entity. The transactions included in the general ledger, a limited consensus test was carried out and carried out by trusted participants, being easier to maintain and faster than free access networks.
Unlike a premissioned blockchain, a public blockchain, like Bitcoin, is completely free and public, anyone can be part of it and nobody controls it. They are resistant to censorship, since it prevents any central entity from preventing a transaction from occurring.
It is a number that indicates the position of a particular block within the chain of blocks (blockchain). Like the block hash, it can also be used as an identifier to locate a particular block.
Website where you can see the information and the status of the transactions of a public blockchain network, and therefore verify the status of a transaction made with a certain cryptocurrency.
A fundamental element of the blockchain that miners create and that allows to link transactions made in a network. The blocks are created in time intervals and link the new transactions with those already existing in the block chain. If we can say that the blockchain is like a digital accounting book, each block would be each of the pages of that ledger.
Block – Genesis
The first block that was generated in the Bitcoin network. It was mined by Satoshi Nakamoto on January 3, 2009.
Block – Orphan
They are blocks that have been resolved correctly, but for different reasons the rest of the network nodes do not accept it by consensus.
Obtaining cryptocurrencies after solving a block. It is obtained as compensation for the work done by the validation of the blocks.
Burning of tokens
It is the elimination of a certain number of tokens by the developer team of a specific project. All burned tokens automatically stop working and have value.
Hashing function that has the mission to detect accidental changes within a sequence of data and protect the integrity of these, verifying that there are no alterations between the initial and final verification of the transmission.
These are addresses implemented in the Bitcoin wallets that allow the ‘change’ to be returned to the user. This change is similar to the one we receive when we go to buy and the difference between the amount given and the amount charged by the store is returned to us.
Coinbase (Generation Transaction)
It is a special type of transaction in the cryptocurrency protocol such as Bitcoin, which unlike a normal transaction, the origin of the transaction comes “out of the blue”. It happens when a miner creates a block and it is the type of transaction that new cryptocurrencies enter into circulation.
Exchange house located in San Francisco, California, which allows the exchange of cryptocurrencies for fiduciary money and vice versa.
Portfolio that is not connected to the blockchain, but whose coins are inside the blockchain. It can be a USB that stores coins or a sheet of paper with a QR code with the backup keys to a wallet.
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value. The most popular is CryptoKitties, but there are many others.
It is a coin that is issued outside the ledger and that is used in this ledger. As an example, it could be a distributed ledger of a national fiduciary currency.
It is a currency that is issued within the ledger and that is used within it. Any cryptocurrency complies with this, such as Bitcoin, Ethereum, Litecoin, etc.
The consensus is based on the fact that all the members of the blockchain must agree with the validation of the blocks and their content.
It is a type of cryptographic token based on blockchain technology that acts as a monetary asset since it allows the transfer and reservation of value.
Cryptography – Asymmetric
Also called public key cryptography is used to send messages based on a pair of keys, one is the public key and the other is the private key. Both participate in the encryption of the information transferred, as well as in the verification that the original information has not been altered.
Cryptography – Symmetric
Called secret key cryptography or a key, which serves to encrypt and decrypt the message in the sender and receiver, who have agreed with the key to use to encrypt the message sent by the sender and decrypt it by the receiver.
It arises from the mixture of ‘cipher’ and ‘cyberpunk’, and is the term used to name activists who promote the use of cryptography and technologies that guarantee the privacy of the individual in the exchange of information and value through digital media. This denomination was formally established and spread as of 1992 by Timothy May and John Gilmore, among others. The ideas, motivations and proposals of the cypherpunk culture are condensed since 1994 in a document entitled ‘Cyphernomicon’
Evolution of an ICO. The investment is fully collected in the ICO phase but the funds are released as progress is made in the development, established milestones are reached or contracted financing is needed. The DAICO was created so that investors have control of liquidity.
These are decentralized applications that run autonomously, storing the data within the blockchain and operating according to the established parameters.
DAO (Decentralized Autonomous Organization)
They are open source and decentralized systems that do not need a human operator or financial controller. They can work independently from their developers and third parties once pre-agreed requirements are met and reflected in a smart contract.
Process of the economy where the cost of the products decreases causing the value of the fiduciary money to increase, thus causing a monopolization of the fiduciary money to acquire the products at the lowest possible price.
Fundamental element in a cryptocurrency and one of the basic properties. It is based on the fact that users and not private companies, states or other centralized agencies, who validate operations and determine the value of a currency.
Term used to indicate that behind a cryptocurrency and its blockchain network there is no private company, agency or state that regulates, controls or manipulates it.
Special environments focused on the development and creation of applications supported within a blockchain. They are development systems in the cloud that allow a fairly agile development.
It is the value that indicates the degree of complexity of the problem or problem that has to be solved in a blockchain network Proof-of-Work. It is variable and its value depends on the power of the network and the power of the miner, adjusting automatically according to the state of the network.
DLT (Distributed Ledger Technology)
Acronym for Distributed Ledger Technology. It is a term that encompasses the entire category of decentralized networks or distributed consensus systems that exist. The category of ‘DLT networks’ share the characteristic that they do not need a central database or a central decision-making entity. The first functional and operational DLT was Bitcoin’s blockchain network, which has been running continuously since 2009.
Fraudulent operation of money of a digital nature that is based on using twice the same currencies to buy or pay something. This type of counterfeiting is one of the main problems that Bitcoin solves.
ECDSA (Elliptic Curve Digital Secure Algorithm)
The elliptic curve cryptography system is used to obtain the public key from the private key, being able to sign transactions. It is impossible to obtain the private key from the public key.
EIP (Ethereum Improvement Proposal)
It is a standard to make improvement proposals for Ethereum and that must be approved by the community. They are of a specific format and provide specific technical information on the proposal and a justification of the proposal. There are different types of EIP.
ERC-20 / ERC-223 / ERC-721 / ERC-777
They are the denominations of different standards for the creation of cryptographic tokens based on the Ethereum network
They are contracts of guarantee deposits where the money is in reserve phase through a third party that guarantees the fulfillment of the parties involved.
Cryptocurrency of the Ethereum network
An open source network based on blockchain technology whose proposal is the development of decentralized applications with the intention of avoiding censorship, fraud attempts or the interference of a third party in them.
EVM (Ethereum Virtual Machine)
Turing virtual machine complete whose mission is to execute the EVM code. The Ethereum nodes operate within the EVM in order to maintain the consensus of the blockchain.
Digital exchange platform that allows you to exchange fiduciary money for cryptocurrencies and / or cryptocurrencies with each other.
Exchange – Centralized (CEX)
Centralized digital exchange house that allows the deposit of funds in an account or wallet within the exchange and it is the platform itself that makes the exchange for us, according to the data parameters.
Exchange – Descentralizado (DEX)
Decentralized digital change house based on blockchain and open source code. Nobody has the control of a DEX, it is the buyers and sellers who negotiate between peers through a peer exchange application.
Exchange – (Hybrid Crypto Exchange o HEX)
Hybrid digital exchange house that offers the functionalities and liquidity of the CEX platforms as well as the confidentiality and security of the DEX platforms. These systems are still under development.
These are websites that give you a small fraction of a cryptocurrency for performing a simple action (for example, filling in a captcha). They were created to promote Bitcoin and that anyone could access this cryptocurrency and circulate it. Today there are faucets of almost any cryptocurrency in the market.
Commission that is charged when any transaction is made within a blockchain.
Fiduciary money in current use. The paper money that the different states or set of these emit. Examples: Euro, Dollar, Yuan, Ruble, Pound, etc.
Acronym for Fear, Uncertainty and Doubt. Term to define a state of mind of people within a market before a possible drop in asset prices, either by objective evidence or rumors and negative news.
Full node (nodo completo)
They are all nodes that completely verify all the rules of a cryptocurrency. In Bitcoin, the software for complete nodes is called Bitcoin Core.
The largest free open source repository in the world. This is where the Bitcoin code is and all the contributions made to it. In this place developers and researchers publish their software or code so that everyone has access and can modify it or use it for their systems.
Event that serves to reduce in half the reward of the Proof-of-Work miners that operate in the blockchain network. Each cryptocurrency sets every few blocks this automatic adjustment is made. In Bitcoin it is every 210,000 mined blocks.
Forced bifurcation of a blockchain, which is usually given when a fairly significant change is implemented in the software code of a network and the new version of it does not recognize the blocks of the other.
Term used to refer to ‘summary functions or hash functions’. Technically a hash function is an output code (unique and alphanumeric) that we obtain from an input string, which allows us to know if the original string has been altered.
Measure against spam in emails, blogs and forums. Measure that performs a small computer job with the processor of your computer as a payment and verification that indicates that it is not an automated system that sends thousands of mails at the same time.
Total processing power of a blockchain or what is the same, are the amount of hash values that can be made in a period of time. It is used as a speed reference hash.
Typographical error of a user of the Bitcointalk forum in 2013. The user changed Holding (keep or keep) by Hodling. The error became popular and is now commonly used as an acronym for ‘Hold on to dear life’ or ‘keep as if it were life in it’
Term used to express that one or more cryptocurrencies are kept or saved, although this is losing value in the market.
Portfolio that is always connected to the blockchain. The stored coins can be quickly exchanged with other members of the network or used to trade.
They are blockchain networks that combine the Work Test and the Participation Test to obtain consensus in the network. These networks seek parity between miners and holders or voters, through a community management system where both participate.
ICO (Initial Coin Offering)
This is how the creation of a token is denominated as a means of financing a project based on a blockchain network in its development phase.
Process of the economy where the cost of the products increases causing the value of fiduciary money decreases, causing people to spend only on basic products.
KYC (Know Your Costumer)
Its literal translation is: ‘Know your client’. Process by which an entity or company that carries out a business or transaction must be identified with the other actor with which they perform the operation. The idea is to verify the legitimacy and existence of the client.
kWU (Thousands Wight Units)
Unit of weight used to compare the size of the different transactions of bitcoins with each other in proportion to the maximum limit of block size given by consensus. Each Weight Unit is represented by 1 / 4,000,000 of the maximum size of a block.
Term used to obtain great benefits with a cryptocurrency or get rich with it. It refers to buying a Lamborghini with the benefits obtained.
Its translation is General Ledger and consists of an accounting record of all transactions in a file or database from the beginning of money and commerce. The blockchain networks of the cryptocurrencies have the possibility of creating distributed digital ledgers. There are different types of ledger in the digital age.
A free license that allows anyone to obtain a copy of this software and associated documentation files. It allows to treat the software without restrictions, including rights of use, copy, modification and fusion, publication, distribution, sublicense and / or sell copies of the software.
Decentralized micro-payment system that generates a channel for transactions, which aims to streamline transactions and reduce fees. It is in the development phase and can be implemented to the blockchain of any cryptocurrency.
They are portfolios for Bitcoin or other cryptocurrencies that are installed in our equipment and that occupy less space in our hard disk and allow a faster synchronization, since it is not necessary to download the complete information of the blockchain to use it properly.
Cryptocurrency that arises from the implementation of the Bitcoin code with a series of modifications, among them the frequency of issuance of the blocks and the number of units of coins that were to be distributed.
It was launched by Charlie Lee on October 7, 2011, and its logo is silver because it aspires to be the ‘silver’ of the crypto world, where the ‘gold’ would be the Bitcoin
It is the time that a Bitcoin transaction must wait for a miner to add the transaction to its hash of the Merkle root to form the next block that will be part of the blockchain.
It is the main network of Bitcoin, where the transactions of this cryptocurrency are registered and take place. The bitcoins of the mainnet are those that have real value.
Master Private Key
This type of private keys is generated in the deterministic hierarchical wallets and is based on data derived from the root seed.
Master Public Key
It allows you to create as many public addresses as you want from a Bitcoin wallet based on a Master Private Key, which implements a compromise that prevents an attacker from spending what is stored in this wallet. It is usually used to enable storage and spending offline or what is the same, operations are performed with a computer not connected to the network and the result is transported in a USB to a computer connected to the network. It is the system used by physical or hardware wallets.
Computers that are responsible for processing blockchhain transactions and receive a reward when a block is mined. To create a masternode you need a large amount of coins from the cryptocurrency for which it is developed.
It is the abbreviation of Memory Pool. Set of unconfirmed transactions in a blockchain. Each time a transaction is made, it enters directly into the mempool, after which the miners take groups of transactions to build the blocks.
The cryptocurrency mining is the process of solving a mathematical problem to give security to a distributed network. Minar is economically motivated: the miner receives new cryptocurrencies recently issued by the program in addition to the commissions of the transactions that he adds to the block.
Anything that tries to solve the mathematical challenge of a blockchain network based on Proof Of Work. They are usually components of computer hardware dedicated exclusively to the resolution of these problems.
They are wallets that require more than one key for transactions to be authorized. It serves to distribute the responsibility of the possession of the cryptocurrencies and to avoid robberies, manipulations or others without the rest of the members being aware of it.
It is the commission that each Bitcoin user pays when making a transaction in this network and it is part of the incentives that the miners receive for their work of maintaining the network and operating it. Each cryptocurrency establishes the minimum value of the commissions.
Network – Centralized
The information is distributed from a single point.
Network – Decentralized
System based on nodes where the information is distributed in a tree scheme. The central nodes distribute information to the intermediate nodes and these in turn can decide whether or not to distribute the information.
Network – Distributed
Any receiver of information can be a transmitter of information. The recipients choose the source of information they consider. Social networks and more specifically Twitter can represent this scheme, where the receiver of information can also provide information.
Within the blockchain network, the nodes are computers that connect to the network and have an updated copy of the blockchain. Together with the miners they are the guarantors that the network works properly. The nodes in Bitcoin are very important because they help the mission of keeping the network decentralized.
It means ‘umber that only used once’ (a number that is only used once) and it is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
The Bitcoin Script operations codes are a series of instructions in machine language that allow the execution or execution of certain specific tasks.
The oracles are automated systems that obtain information from different media or users to introduce them into the blockchain network that will be used in smart contracts. It is something contributed by the Ethereum network.
In a bitcoin or cryptocurrency transaction, each output or output refers to the addresses to which the money is sent. That is, the directions to which the coins ‘come out’.
They are networks between pairs or also point-to-point calls. It refers to decentralized networks where information is shared between two users through connection to the network or the Internet without any intermediary than software that connects them.
P2PKH (Pay To Public Key Hash)
It is the technical name that Bitcoin standard addresses receive, they are owned by a single user. They all start with the number 1.
P2SH (Pay To Script Hash)
It is the technical name that Bitcoin’s multifirm addresses receive, they are owned by two or more users and they prevent an individual from spending the coins freely. They all start with the number 3.
Set of characters of any type that are generated in a random manner and that have the function of unique and non-transferable password. It is generated based on a mathematical algorithm and is always accompanied by another text called public key. Unlike the public key, the private key should not be revealed, given or lost EVER.
It is a system for validating the transactions of a network based on a series of masters that store cryptocurrencies in a wallet or portfolio.
It is a system for validating the transactions of a network by solving mathematical operations through specialized computer equipment.
Pizza Day Bitcoin
It is commemorated on May 22, 2010, when Lazslo Hayneck exchanged 10,000 Bitcoin for two pizzas in the US chain Papa John’s. It is considered the first transaction of bitcoins for a material good.
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks. There are some that are public and there are some that are private.
Personal identifier based on our private key that we can share without fear for other people. In cryptocurrencies, they are used to generate the addresses to which other people can send cryptocurrencies.
Term that expresses a remarkable and sudden rise in the value of a cryptocurrency. They can be provoked by a person or group of these or by some event of scope that generates a massive movement of purchases of a cryptocurrency.
System to modify an unmodified transaction. To avoid denial of service attacks, it is required that the new transaction that replaces the previous one, must pay its commission and the commission of the transaction that it must replace.
It is considered as the cryptocurrency of traditional banking and is classified as a centralized cryptocurrency. It is designed for banking transactions, making them agile, validated in a matter of seconds and with extremely low commissions.
A satoshi is the minimum unit in which a bitcoin can be divided and is equivalent to 0.00000001 Bitcoin (BTC) It owes its name to the name of the Bitcoin creator, Satoshi Nakamoto.
Pseudonym of the person (or group of people) who developed and spread the original Bitcoin idea and the world’s first blockchain network. Your real name is unknown or if it is a natural person, group of people or companies.
It is a lighter and faster cryptographic algorithm than SHA-256, therefore, the processing time is lower and simpler components are required such as processors and graphic cards in common use.
The Segregated Witness technology represents a change in the format of Bitcoin transactions that was proposed by the Blockstream company and whose development has been carried out by Bitcoin Core. It was implemented through a Soft Fork in the Bitcoin network. Other cryptocurrencies such as Litecoin or DigiByte have also adopted it.
It is the cryptographic algorithm that is used in the Bitcoin network for the mining of this cryptocurrency and the creation of its addresses. SHA are the syllables of ‘Secure Hash Algorithm’, concept developed by the National Security Agency (NSA) of the USA.
It is a pejorative word that refers to an altcoin that has no value, or is predicted short distance due to the inconsistency of its code, equipment or project.
It is a concept thought in English and consists of the words shit (shit) and coin (currency), literally means: coin of shit.
Also called an ‘intelligent contract’, it is a digital agreement between two or more parties, for goods, services or anything imaginable. Once all the requirements are met, it is automatically settled and the parties receive the previously agreed upon.
Minor update of the software code of a blockchain network that is compatible with the previous versions and does not cause the network to bifurcate giving rise to what would be called hard fork.
It is a programming language used in Ethereum for programming Smart Contracts.
SWAP (Atomic SWAP)
Atomic Swap is a term used to define a feature that allows exchanging cryptocurrencies that operate in different block chains, but without intermediaries. For example, to move from Bitcoin to Ethereum, a centralized exchange house is currently needed, since they are different block chains. Atomic Swap would allow you to send your bitcoins to the person who gives you ethereums in exchange for a single blockchain transaction that is reflected in both block chains.
It is a secondary network of Bitcoin to perform tests with cryptocurrencies that have no real value. Very useful for developers or people who want to try the Bitcoin network without fearing the loss of their currencies.
The timestamp is a timestamp that is calculated according to different parameters and contributes to the verification of information in the network.
To the Moon
Expression originally used to say that the value of Bitcoin was going to go up a lot of value. Now its use is widespread for all cryptocurrencies.
In the world of cryptocurrencies a token is the digital representation of the value of an asset (physical or not) There are a series of standards to create them and currently the Ethereum network is the one that houses more than 80% of the existing tokens.
Exchange of currencies in real time in order to make a profit.
Group of network transactions that are grouped in a block that receives its hash and is added to the blockchain.
UASF (User Activated Soft Fork)
Mechanism in which a Soft Fork is executed on a specified date forced by the nodes, also known as the ‘economic majority’. They require a lot of support and great coordination in the industry. It was proposed for the activation of SegWit in the proposal BIP148.
UAHF (User Activated Hard Fork)
Set of rules created by developers that are mandatory and that change the software of the node. It allows the invalid previous blocks to be valid again after a day, without the need for a hash majority to be applied.
Unidad de procesamiento gráfico (GPU)
They are chips dedicated to graphics processing or floating point operations, allowing to lighten the workload of the processors when playing video games, interactive 3D applications or mathematical calculations. We can find them in specialized expansion cards, also called graphics cards or integrated in the same package of the processor.
They represent the right to use a product or service that will have a specific function within the ecosystem of a project. They are not intended as an investment, but offer users access to a future product or service. To differentiate themselves from ICOs, they are usually defined as token generation events (TGE) or token distribution events (TDE)
It is an address that begins with a set of characters chosen by the user who creates it. It really consists of a ‘personalized’ address within Bitcoin, and is obtained by a brute force procedure.
Bitcoin Vanity address generator that works via command line.
It is the software that allows you to store and transact cryptocurrencies without permission or mediation from anyone. There are different types (web, desktop, hardware, mobile, paper…) there are even physical wallets called cold wallets.
Wallet (HD type)
They are wallets with a deterministic hierarchy that can be shared partially or totally between different systems, each with or without the ability to spend coins. This type of wallets do not generate their public key as a result of their private key, but by means of a mathematical elliptic curve algorithm.
Wallet (Hardware type)
They are in the Cold Wallet category and are usually USB format units that connect to the computer and allow us to store our cryptocurrencies securely and private keys. They usually offer the option to add a PIN to unlock the unit.
Wallet (Mobile type: Smartphone/Tablet)
Apps for Android, iOS or other operating system for portable terminals that allows you to store and manage our cryptocurrencies, as well as make payments quickly and easily.
Wallet (Online or Web type)
They are wallets directly on web pages where a public key is offered and the private key is stored on the company or organization’s website. An example would be those offered by the different exchange. There are projects that also offer the possibility of having an online wallet.
Wallet (Paper type)
Process by which the private key of a Bitcoin address (or any other cryptocurrency) is on a piece of paper. In this way, you can send funds to the associated address, without running the risk that the private key is in a program with an Internet connection. In turn, this process is also a Cold Wallet or Cold Storage. When you want to regain control of the funds, you must enter this key in a client (of the corresponding cryptocurrency) with an Internet connection.
Wallet (PC or Desktop type)
They are special software designed to store our cryptocurrencies and offer us a public key and are protected by a private key. They have the characteristic of being very secure and allow you to see the entire transaction history.
Symbolic term that describes a person or group that coordinate among themselves and monopolize large amounts of a currency and are able to move the market to raise (the tide) or lower prices (the waves)
Technical document that describes the main characteristics or properties of a project based on blockchain technology and its corresponding cryptocurrency.