Cryptocurrency Glossary in General, Not Specific to Ethereum

Blockchain – the technology behind Bitcoin, Ethereum, and other cryptocurrencies

Node – a computer on the network that has a copy of the blockchain and maintains it

Mining – the process of solving a block of transactions

Mining Rig – the hardware required for the processing of the Proof of Work blockchains

Fork – where the blockchain has been split into two

PoW – Proof of Work, the current consensus algorithm that Ethereum uses

PoS – Proof of Stake – the future algorithm that Ethereum will use Sharding – blockchain scaling solution. Right now, a copy of the blockchain is held on each node. Sharding allows each node to hold  just  a  partial  copy  of  the  entire  blockchain  to  increase consensus speed and network performance

Software Wallet – where cryptocurrencies are stored. The wallet is a software file on the internet and can usually be generated free of charge

Hardware Wallet – a hardware device that stores your cryptocurrency securely, one of the most secure methods of storage

Cold Storage – moving your stored cryptocurrency offline for safe keeping. Methods to doing this include printing out a QR code for your wallet and storing it, using a hardware wallet or by moving the software wallet files onto an external storage source and then storing that somewhere secure

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