BitcoinBitcoin (abbreviation: BTC or XBT; sign: ₿) is a decentralized digital currency. Bitcoin transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009, when its implementation was released as open-source software. The word "bitcoin" was defined in a white paper published on October 31, 2008.
BlockchainA blockchain is a distributed ledger with growing lists of records (blocks) that are securely linked together via cryptographic hashes. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data (generally represented as a Merkle tree, where data nodes are represented by leaves). Since each block contains information about the previous block, they effectively form a chain (compare linked list data structure), with each additional block linking to the ones before it.
EthereumEthereum is a decentralized blockchain with smart contract functionality. Ether (Abbreviation: ETH; sign: Ξ) is the native cryptocurrency of the platform. Among cryptocurrencies, ether is second only to bitcoin in market capitalization. It is open-source software. Ethereum was conceived in 2013 by programmer Vitalik Buterin. Additional founders of Ethereum included Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin. In 2014, development work began and was crowdfunded, and the network went live on 30 July 2015.
Smart contractA smart contract is a computer program or a transaction protocol that is intended to automatically execute, control or document events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need for trusted intermediators, arbitration costs, and fraud losses, as well as the reduction of malicious and accidental exceptions. Smart contracts are commonly associated with cryptocurrencies, and the smart contracts introduced by Ethereum are generally considered a fundamental building block for decentralized finance (DeFi) and NFT applications.
Hash chainA hash chain is the successive application of a cryptographic hash function to a piece of data. In computer security, a hash chain is a method used to produce many one-time keys from a single key or password. For non-repudiation, a hash function can be applied successively to additional pieces of data in order to record the chronology of data's existence. A hash chain is a successive application of a cryptographic hash function to a string .
CryptographyCryptography, or cryptology (from κρυπτός "hidden, secret"; and γράφειν graphein, "to write", or -λογία -logia, "study", respectively), is the practice and study of techniques for secure communication in the presence of adversarial behavior. More generally, cryptography is about constructing and analyzing protocols that prevent third parties or the public from reading private messages. Modern cryptography exists at the intersection of the disciplines of mathematics, computer science, information security, electrical engineering, digital signal processing, physics, and others.
GnutellaGnutella is a peer-to-peer network protocol. Founded in 2000, it was the first decentralized peer-to-peer network of its kind, leading to other, later networks adopting the model. In June 2005, Gnutella's population was 1.81 million computers increasing to over three million nodes by January 2006. In late 2007, it was the most popular file-sharing network on the Internet with an estimated market share of more than 40%.
