Wallet
By | Updated on Mar 03, 2020
Analogous to an online bank account or a email client software. Cryptocurrency wallets is an interface that lets users store, send and receive cryptocurrencies. There are 3 popular categories of wallets, "Custodial" - where private key security (and by proxy, the cryptocurrencies themselves) is handled by a third party, "Hot" - wallets that is meant for frequent use, and "Cold" - wallets that is meant for secure and long term storage.
Related Terms
Derivatives
A financial instrument which derives its value from the performance of an underlying asset or index (eg. gold, crude oil)
Proof-of-Authority (PoA)
A consensus algorithm that asigns block validation queue based on identity and reputation.
Immutable
A property characterized by inability to be change and stays unchanged over time.
Soft Fork
A backward-compatible update to a decentralized blockchain protocol.
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