TALK THE TALK

Sharp Magazine Middle East (English) - - Guide | Money -

COIN

A unit of a cryp­tocur­rency. Some, like Bit­coin, have fi­nite sup­plies, with fewer coins re­leased into cir­cu­la­tion each year.

AD­DRESS

A string of ran­domly gen­er­ated char­ac­ters that acts as your iden­tity-ob­scur­ing pseu­do­nym in a trans­ac­tion.

PRI­VATE KEY

An­other string of char­ac­ters, re­quired to ac­cess the coins linked to any given ad­dress. Eas­ily mis­taken for your grandma's Wi-fi pass­word.

MINER

A com­puter that's part of a net­work of ma­chines work­ing to val­i­date on­go­ing cryp­tocur­rency trans­ac­tions and keep the sys­tem se­cure. Min­ers are re­warded for their work with a small amount of new coins.

BLOCKCHAIN

A pub­lic data­base — or “dig­i­tal ledger” — of all ver­i­fied trans­ac­tions made with a cryp­tocur­rency. Gen­er­ated as a joint ef­fort by all min­ers, it logs data with­out grant­ing con­trol of that data to any one third party.

“‘Her voice is full of money,' he said sud­denly.” — F. Scott Fitzger­ald, The Great Gatsby

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