Glossary

Business / Money / Cryptocurrency

Glossary

Cryptocurrency
The type of digital currency, the creation and control of which is based on cryptographic methods.
Blockchain
Continuous sequential chain of blocks containing information. The bottom line is that they contain all the unfiltered information that is being deleted. Thus, you can trace transactions at any stage and learn the whole story. There are copies of the blockers on different computers.
Fork
It's much easier to start something out of nothing, but to take something else as a basis. That's about what happens. The code base of the software project is used to develop and create one. The basis of the new currency is Bitcoin. However, most forks do not invent anything of their own and are just a copy of Bitcoin.
Softfork
Soft change, little changes in the code, there are no any fundamental changes.
Hardfork
A fundamental change in the algorithm and code, new technologies are introduced.
SegWit
(Segregated Witness)
Part of the information is stored outside the blockchain, in separate files.