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Vote-Based Consensus Method
A vote-based consensus method is a type of consensus algorithm used in distributed systems or blockchains, where nodes in the network participate by voting to agree on a common decision. Each node has a “vote” that it casts in favor of a particular block or transaction, and the network reaches consensus when a certain number…
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Practical Byzantine Fault Tolerance (PBFT)
Byzantine Fault Tolerance (BFT) Byzantine Fault Tolerance (BFT) is a property of distributed systems that allows them to reach consensus even if some participants (nodes) are acting maliciously or failing to function properly. This concept is derived from the Byzantine Generals Problem, which illustrates the challenge of achieving agreement among participants when some may send…
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Hot & Cold Storage
Hot storage and cold storage are terms used to describe different methods of storing cryptocurrencies, primarily based on whether the wallet is connected to the internet or not. Each has different security implications, with hot storage being more convenient but potentially riskier, and cold storage being much more secure but less accessible. Hot Storage Hot…
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Non-Custodial Wallet
A non-custodial wallet is a type of cryptocurrency wallet where the user has full control over their private keys and, therefore, complete ownership of their funds. Unlike a custodial wallet, where a third party holds and manages the private keys (such as an exchange or service provider), a non-custodial wallet puts the responsibility of security…
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Custodial Wallet
A custodial wallet is a type of cryptocurrency wallet where a third party (such as an exchange or financial service provider) holds and manages the private keys on behalf of the user. In other words, the user does not have direct control over the private keys, which are necessary to access and manage their cryptocurrency.…
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Elliptic Curve Digital Signature Algorithm (ECDSA)
The Elliptic Curve Digital Signature Algorithm (ECDSA) is a cryptographic algorithm used to generate digital signatures, which ensures the authenticity, integrity, and non-repudiation of digital messages or transactions. It is based on elliptic curve cryptography (ECC), making it more efficient than other signature algorithms like RSA by offering strong security with smaller key sizes. How…
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Elliptic Curve Cryptography (ECC)
Elliptic Curve Cryptography (ECC) is a form of public-key cryptography that is based on the mathematics of elliptic curves. It provides strong security while using much smaller keys compared to traditional methods like RSA. This makes ECC efficient in terms of both computation and bandwidth, which is why it’s widely used in modern cryptographic systems,…
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Ed25519
Ed25519 is a high-performance, secure, and efficient public-key signature system based on elliptic curve cryptography (ECC). It is specifically designed to provide strong security guarantees while being fast and easy to implement, making it a popular choice for digital signatures in modern cryptographic applications. Key Features of Ed25519: How Ed25519 Works: Use Cases of Ed25519:…
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Non-repudiation
Non-repudiation is a security principle that ensures that a person or entity cannot deny the authenticity of their signature, message, or action after it has been completed. In the context of digital communication, non-repudiation means that once someone has signed or sent a message, they cannot later claim that they did not do so. Non-repudiation…
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Web 3.0
Web 3.0, also known as the decentralized web, refers to the next generation of the internet that emphasizes decentralization, user control, and the integration of blockchain technology. It represents a shift away from the current Web 2.0 model, which is dominated by centralized platforms and big tech companies, toward a more user-centric, secure, and open…
