Terminology of CARDANO and ADA


Terminology

A

Address
Your account number for cryptocurrencies. Generated addresses function as a wallet.
Altcoin
Bitcoin alternatives. Cryptocurrencies other than Bitcoin.
ADA
A new cryptocurrency which is scheduled to be released in the second half of 2016. The key currency of CARDANO.

B

BTC (XBT)
A currency unit of Bitcoin. The minimum currency unit is 0.00000001 BTC = 1satoshi. Units such as 1mBTC = 0.001μBTC = 0.000001BTC can also be used.
Bitcoin
The world's first cryptocurrency that was created based on a paper posted by Satoshi Nakamoto. This can be exchanged into cash or other cryptocurrencies at the Bitcoin Exchange and also used for settlement at where the system is available. By utilizing the P2P system, users can transact each other easily and a settlement fee is pretty cheap. Rewards can be gained by mining.
Broadcast
An action that sends data all at once to multiple computers on the network (one-way transmission). Users send bitcoins by broadcasting digitally signed messages to the network using Bitcoin wallet software. Transactions are recorded into a distributed public database known as Block chain.
Block
A data unit in cryptocurrency transactions. Data is permanently recorded in the Bitcoin network through blocks. A block is a record of some or all of the most recent Bitcoin transactions that have not yet been recorded in any prior blocks. New blocks are added to the end of the record every 10 minutes and can never be changed or removed once written.
Block chain
A transaction database utilizing the P2P system. A full copy of a currency's block chain contains every transaction ever executed in the currency and the history can be viewed by anyone.

C

Cryptocurrency
A digital currency which doesn't rely on a central server to process transactions or store funds. This refers to Bitcoin which was created based on a paper posted by Satoshi Nakamoto and also its improved version of coins. Since a database called Block chain regulates transactions and monitors any fraudulence, cryptocurrencies won't be controlled by game owners.
CARDANO
The next-generation gaming platform which utilizes ADA as its key currency. You can enjoy a game for ADA with other users. This world's first attempt that will prevent cheating and any other unfair acts by not only players but administrators is now attracting a great deal of attention.
Charles Hoskinson
An IT-entrepreneur and a mathematician based in Colorado. He studied number theory and mathematical logic in Metropolitan State University and University of Colorado Boulder, and advanced to the field of cryptography. In 2014, the Ether cryptocurrency crowdfunding project for the Ethereum Network placed Number 4 on the U.S. history of crowdfunding projects both for its funding speed and funded amount. He continues to research topics such as "Cryptocurrency" and also contributes to a number of startup projects. BitShares Founder/Ethereum ex-CEO/Bitcoin Foundation Education Director.
Coin Age
Amount of Holding Cryptocurrencies x Period of Holding Cryptocurrencies. The bigger Coin Age is, the more coins can be created in PoS. This is prioritized at Bitcoin transactions so your transaction could be verified preferentially if Coin Age of Bitcoin you hold is longer than others'.
Coinbase
An enterprise that offers online wallet service or a technical term. The latter means a source address where sends coins which are minted at the time of creating a new block to minors. A transaction sending rewards which may occur at the time of creating a block can also be called Coinbase.

D

Difficulty
Difficulty of finding cryptocurrencies by mining.
Digital Signing
Signing on data electronically, as it literally says. Bitcoin is defined as a chain of digital signing. Generally, the procedure of digital signing follows the next 3 steps: a.Create an address (a public key) and a private key. b.A sender applies a hash function to Bitcoin data and data for a receiver's address and sends these data signed by a sender's public key (converting into data) and send to a receiver. c.A receiver verifies the received sign using a sender's public key (decrypt a sign and compare it to original Bitcoin data).

E

Ethereum
A project that is developing a platform to administer Smart Contract in the absence of a central server so it enables secure recording and a variety of transactions with lower cost. This system had received a high review by Takafumi Horie, the ex-CEO of Livedoor Co., Ltd.

F

51% attack
Conducting an illicit transaction by dominating more than 50% of mining speed of an entire network. This may incur double payment. However, securing mining speed of more than 50% costs pretty high so this could hardly happen.

H

Hash
Fixed length data which can be gained by converting data. A function to convert or gain data is called a "hash function". Compared to that cryptography can decrypt cryptographed data, a hash cannot be decrypted. In Bitcoin, an address has a hash value of a public key and digital signing with a hash and cryptography will be required for its transaction.
Hash Rate
Mining speed which is shown as hash/s. Generally K/kilo, M/mega or T/terra is prefixed to it and can be abbreviated (i.e. KHs).

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M

Millestone
A significant stage or event in the development of something/a point on the project schedule at which the project team assesses progress and quality.
Minting
Mining in PoS/the Bitcoin PoS system. Unlike mining, this makes coin minting easier so rewards gained by this are sometimes compared to interest.
Miner
One who performs mining.
Mining
The process of adding transaction records to Bitcoin's public ledger of past transactions. You can gain Bitcoin if you succeed in mining first but a high-end computer might be needed for it. Practically, this refers to the verification process in Bitcoin transactions utilizing the block chain and the PoW system.
Multi-signature
Service or technology to allocate multiple private keys to a single address. This address is called a "multi-signature address" and requires multiple private keys for Bitcoin transactions. The security gets pretty higher than one for a normal address so this has been performed and offered at each wallet service.

N

Nonce
A short term for "number used once", random 32-bit data which are always included in a block.
Node
A point in a network topology where lines intersect or terminate.

O

Orphan Block
An invalid block which is branched from the main chain.
Oracle
Randomly chosen multiple monitors which check authenticity of information.

P

Public Key
A key which is opened to the public in Public-key Cryptography. A public key is always a pair of a private key. In Bitcoin, a hash value of a public key functions as an address and a public key itself is generated by a private key.
Public-key Cryptography
Cryptography that performs encryption and decryption by utilizing a public key and a private key. A sender encrypts data using a receiver's public key and a receiver decrypts the data using a private key which only he/she owns. By doing so, data will not be decrypted even if they are stolen by a third party.
Sending money in Bitcoin follows the next steps: a.Create a pair of a public key and a private key. b.Create an address (a one-time address, a wallet is a collection of addresses). c.A sender receives an address (a private key) of a receiver. d.A sender signs using a private key on his/her remittance information (a combination of Bitcoin and an address). e.They are broadcasted to the P2P system, and then remittance is complete.
P2P
A short term for "peer-to-peer". A distributed application architecture that partitions tasks or works between peers and this enables transactions between individuals without needing central servers.
Private Key
A key to decrypt a public key in cryptography. In Bitcoin, this functions as a password required at the time of transferring money from an address. There is almost zero possibility of coin theft only if you keep your private key secure.
PoS/Proof of Stake
A proposed alternative to PoW and this attempts to provide consensus and double-spend prevention. Mining in PoS is also called minting or forge and the bigger Coin Age, an amount of holding coins x a period of holding coins is, the easier minting gets. Also, this is believed to be more effective against a 51% attack than PoW. This is due to that a 51% attack costs a lot and needs quite a lot of coins and also could lower the value of your own coin and coin itself.
PoW/Proof of Work
This prevents coin counterfeiting by hacking or other illicit acts. Computational complexity protects the coin security and producing PoW can be a random process with low probability so that a lot of trial and error will be expected before a valid proof of work is generated.
Protocol
A collection of set rules and processes to allow multiple clients send signs, data and information smoothly. A transaction will fail if the applied protocol differs.

S

Satoshi
The minimum currency unit of Bitcoin. 0.00000001 BTC = 1satoshi.
Smart Contract
The automation of contract. A system that programs a contracted action and performs it autonomously.

T

Target
Difficulty is calculated based on 256-bit data (Target). The higher Target is, the greater Difficulty gets.

V

AVVM/ADA Voucher Vending Machince
A website where you can redeem your ADA crypto voucher with your ADA redemtion code.
Voucher
A receipt/a document which proves your payment.

W

Wallet
Works as a wallet on the internet. A collection of addresses (private keys).
White paper
A document with a high proportion of technical content. It can be a technical overview of a product, technology, initiative or knowhows.

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