Author Topic: Terminology and abbreviation list  (Read 3764 times)

Offline jackielove4u

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Terminology and abbreviation list
« on: May 09, 2014, 01:10:49 pm »
Some users might get confused by all the terminology and abbreviations seen on this forum. I hereby present you a sticky in which terminology and abbreviations are explained.

Please feel free to post new terminology and abbreviations down below. You're also free to ask for certain meanings, even if you think its stupid. Please note: it should be related to this forum and the crypto community of course.  ;)

Thanks!  :)

Terminology.

Address = Alphanumeric code used by Groestlcoin to send and receive Groestlcoins. Addresses are public.

Blockchain = the transaction data of Groestlcoin. Every transaction in Groestlcoin is recorded in the blockchain. A new transaction has 1 confirmation when it is first included in the blockchain by miners.

Cold Storage = Keeping the private key of the Address where your Groestlcoins are stored inaccessible to the internet. See also Paper Wallet.

Client (Groestlcoin-Qt) =  The software program used to manage your Groestlcoin transactions.

Found a block or Solved a block = Using mining software and hardware to include transactions into the blockchain. The block reward and all transaction fees collected are given to the entity who accomplishes this.

Paper Wallet = A method of storing your Groestlcoins where the private key of one or more Groestlcoin addresses is stored physically (such as printed on paper). See also Cold Storage.

Private Key = Alphanumeric code required to sign the transactions of a Groestlcoin address. You can not send coins from a Groestlcoin address unless you have it's corresponding private key.

Abbreviations.
   
ANN   Announcement
BTC   Bitcoin
FS    For Sale
Kh/s  Kilo hashes a second
LTC   Litecoin
GRS   Groestlcoin
Mh/s  Mega hashes a second (1000 Kh/s)
OP    Original Post / Original Poster
WTB   Want To Buy
WTS   Wants To Sell