Glossary

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P

P2PK


Stands for Pay to Public Key. A transaction type much similar to P2PKH but does not conceal the public key, it is rather displayed in the transaction details.


P2PKH


Stands for Pay to Public Key Hash. Represents the most common transaction script used when a certain amount of Bitcoin from one address to another is made. The sender must supply a valid signature and public key which is then matched to the public key hash to determine if the funds can be spent. The public key is concealed for security reasons.


P2SH


Stands for Pay To Script Hash. Represents a type of transaction whose inputs are locked with a ScriptPubKey. The Bitcoin can be spent depending on the script and its transaction hash.


P2WPKH


Stands for Pay To Witness Public Key Hash. Much like P2PKH but it locks the Bitcoin to a SegWit address. Validation is done in a part of the transaction called "witness", which must contain two items and its public key's HASH160 has to be equal to the one in the witness program.


P2WSH


Stands for Pay to Witness Script Hash. It is a type of transaction similar to P2SH but it uses SegWit. It locks bitcoin to the hash of a script. The transaction sender has to first present all required signatures and the script, called a RedeemScript, in order to spend the bitcoin.


Pagination


The process of dividing results into discrete pages.


Paper Wallet


A physical print of the digital asset’s address with the private keys in accordance.


Parameter


Any characteristic that can help in defining or classifying a particular system (e.g. an event, project, object, etc.).


Payload


The part of transmitted data that is the actual intended message.


Peer-to-Peer


A distributed application architecture that partitions tasks or workloads between equally privileged peers, that are said to form a peer-to-peer network of nodes.


PHP


A general-purpose scripting language designed for web development.


PoS


Stands for Proof of Stake – an algorithm that doesn’t need a lot of powering energy, where the more digital assets are staked, the higher is the probability that the block will be picked for deciding on the consensus.


Post-quantum


In cryptography, represents innovative cryptographic approaches that can be implemented using today’s computers but will be imperviable to attacks from future quantum ones.


PoW (Proof of Work)


Stands for Proof of Work – an algorithm where work is considered to be the activity done in mining which determines the amount of the reward the miner receives.


Private blockchain


A Private Blockchain allows only authorized entities to send or receive transactions within the network. No one can write/read or audit the records stored on the private blockchain unless someone has permission to do so.


Private key


A text string used for enabling security in a block chain by going through encryption and decryption processes. It is also used for having wallets and transactions accessible on the blockchain.


Progressive web application


A web app developed using modern technologies which meets certain web standards.


Proof of Authority


A consensus mechanism used in private blockchains to grant a single private key the authority to generate all of the blocks or validate transactions


Protocol


A standard set of rules that allow devices and software to communicate with each other.


Public blockchain


Public Blockchain is an open network which allows anyone from the world to send or receive transactions.