Crypto Glossary
Plain-English definitions of the cryptocurrency, blockchain and trading terms you will meet as you learn.
P
Permissionless
This term, often preferred to describe blockchain networks, describes the fact that there is no authority that sets the rules for who can use the system and how they can use it.
PoS (Proof of Stake)
Consensus mechanism based on staking
PoW (Proof of Work)
Consensus mechanism based on computational effort
Private Key
A secret key granting access to funds
Private Key / Secret Key
A piece of code generated by asymmetric key cryptography that is paired with a public key to decrypt data that has been hashed.
Proof of Spacetime
Simply put, PoSt means proving that a network participant has spent a certain amount of space on storage.
Pseudonymous
It's using a pseudonym, just like "Satoshi Nakamoto".
Public Address
The public address is the encrypted hash equivalent of the public key. Like a traditional bank account, it is the address the user uses to receive payments.