This is a deceitful operation where a company entices investors to provide money with the promise of expected returns. The company repays the profits of initial investors using funds from new investors. If the company fails to draw in more investors, payments to clients stop, leading to the collapse of the company and loss of money for the investors.
A permissioned system is a private, closed network where not everyone has the liberty to join freely.
A passphrase, akin to a password, tends to be longer and usually comprises multiple words as opposed to a single word typically used for a password.
Pseudonymity is a state of near anonymity where users have a unique identifier that differs from their real name.
This consensus algorithm was first introduced by Bitcoin. Proof of Work, or PoW, requires miners to compete with each other to add new blocks to the blockchain and earn rewards.
Often shortened to PoP, it’s a consensus mechanism used by DigixDAO to monitor the movement of physical assets, establish their ownership, and ensure their security.
Proof of Stake and Trust, or PoST, is a consensus mechanism used by Waltonchain. It relies on token holders (nodes) to verify transactions and retains information about nodes’ past performance to reward the most reliable nodes more.
A private key is used to execute cryptocurrency transactions.
This refers to the right to be free from surveillance.
Abbreviated as Proof of Stake, it is a consensus mechanism where individuals stake their cryptocurrency holdings to secure the network and earn rewards.