All Finance Terms

What is Proof-of-Work?

Definition of Proof-of-Work Proof of work is a protocol that is commonly used in much of cryptographic applications. It is helpful in the generation of a block in a distributed blockchain-based network. Every minor must complete their POW to accept a block by network participants. Hash cash is one of an application of this method. Brief […]

What is Replicated Ledger?

Definition of Replicated Ledger Replicated ledger is a copy of a distributed ledger in a network that is distributed to all participants in a network of the cryptocurrency world. This is very helpful to share all the recorded digitized information or data with all cryptocurrency participants in a network. However, sharing a single copy to a […]

what is consensus ?-Definition of all finance terms

What is Consensus (Bitcoin’s Process Consensus)?

Definition of Consensus The consensus is kind of a standard or rule required for the secure regulation of all the blocks in a bitcoin process. If not a single a participant follows the rule, they require a hard fork. It considers the validity of a block or transactions.Consensus also called hard rules because bitcoin requires that […]

what is interplanetary file system?-Definition of all finance terms

What is IPFS( interplanetary file system)?

Definition of interplanetary file system IPFS stands for an interplanetary file system. It is an open-source distributed blockchain-based project in a network. It was first introduced or designed by Juan Benet in 2014. Brief Explanation of IPFS It’s a protocol in a network that creates a decentralized pattern of storing and sharing documents or files […]

What is Private Currency?

Definition of Private Currency Private currency is one kind of currency that is issued by a private firm or entity in which there is a change in the market value of that currency. There are so many countries in the world where the issuance of this currency has been restricted by law. Brief Explanation of Private […]

What is Solidity?

Definition of Solidity Solidity is basically a high-level language, which is used in implementing smart contracts in an ethereum virtual machine. It’s a contract-oriented and statically typed language that everyone in the distributed blockchain-based network does not commonly know. Brief Explanation of Solidity The purpose of this converting contracts into a different or high-level language is […]

what is secure hash algorithm?-Definition of all finance terms

What is SHA (Secure Hash Algorithm)?

Definition of SHA (Secure Hash Algorithm) SHA stands for the secure hash algorithm. It is one hash function of the cryptographic world that is working on all digitized data by algorithm operations. It was introduced by NSA (national security agency) in the USA. SHA is a novel hash function that consists of a number of different bits. […]

What is Ring Signature?

Definition of Ring Signature Ring signature is a digitized signature that can be done by any authorized person or a person who has access to sign for a specific task or transaction. It was launched in 2001 by ASIACRYPT. Any key person can do this ring signature. Brief Explanation of Ring Signature This can be applied […]

What is Distributed ledgers?

Definition of Distributed ledgers A general agreement consists of digitized synchronized data, which is shared publicly across the world to different sites, institutions and countries geographically called distributed ledger, also known as a shared ledger. Throughout the global network, each node has independently updated the ledger. Brief Explanation of Distributed ledgers The implementation of this ledger […]

What is Double spend?

Definition of Double spend Double spend is an error in a digitized world where users can use the same electronic currency multiple times. It can be easier to be spending more than a single time in a digital currency than a physical currency because a digital token contains a digital file that can easily replicate or […]