Glossary
A digital entity that serves as a storage and key management system for assets, addresses, keys, and transactions is often called a vault account or wallet.
A unique identifier associated with a specific account or wallet on a blockchain network. It's like the mailing address for your digital assets.
Anti-Money Laundering policies are rules and regulations designed to prevent illegal financial activities like money laundering. It's like a set of guidelines to ensure everyone follows the rules. Learn more about AML Policies.
Granting permission or consent for a particular action or request is often required in workflows or processes involving multiple parties. It's like giving your stamp of approval on a document before it can be finalized.
The process of verifying the identity of users or entities accessing a system or platform, often through passwords, biometrics, or cryptographic keys. It's like showing your ID to prove who you are before entering a secure facility.
The total amount of assets held in an account or wallet represents the current value of those assets. It's like checking your bank account to see how much money you have.
Bank:
A financial institution that accepts deposits, makes loans, and provides other financial services to customers.
A method for generating multiple cryptocurrency addresses from a single master key. It's like having multiple keys that all open different doors but are controlled by one main key. Learn more about BIP44 Multi HD Derivation.
Bitpowr is a digital assets and custody infrastructure for enterprise businesses to manage digital assets operations and build financial products on the blockchain.
Bitpowr Secret Sharing Scheme is a method for reconstructing private keys using a subset of shared secrets, providing redundancy and security in self-custodial wallets.
Bitpowr Threshold Signature Scheme Library is a cryptographic tool used in custodial wallets for securely signing transactions with distributed key shares.
A digital ledger that records transactions securely and transparently. Think of it as a public record book that can't be altered. Learn more about Blockchain.
Refers to blockchain networks, decentralized networks of interconnected blocks that record transactions. It's like a digital highway system for transferring value and information.
The adherence to rules, regulations, or standards set forth by regulatory authorities or governing bodies ensures that operations and activities meet legal and ethical requirements. It's like following traffic laws to ensure safe and orderly road driving.
A platform where people can buy, sell, and trade cryptocurrencies like Bitcoin or Ethereum. It's similar to a stock exchange but for digital currencies. You can learn more about Crypto Exchange.
A wallet managed by a third-party service provider, where the provider holds and secures the private keys on behalf of the user. It's like storing your valuables in a bank vault managed by a trusted custodian. In this case, Bitpowr is a third-party service.
Assets that exist in digital form, such as cryptocurrencies, tokens, digital securities, or non-fungible tokens (NFTs).
Keeping digital assets safe and secure. It's like storing your valuables in a digital safe. You can learn more about Digital Asset Custody.
A JavaScript library for interacting with the Ethereum blockchain, allowing developers to build decentralized applications (DApps) and interact with smart contracts. It's like a toolbox full of tools for building on the Ethereum platform.
A standard for creating tokens on the Ethereum blockchain. It's like a set of rules that ensure all tokens built on Ethereum can work together seamlessly. Learn more about ERC20 Tokens.
A significant occurrence or happening within a system or platform, often triggering specific actions or notifications.
Ethereum Virtual Machine chains are separate blockchains that run the Ethereum Virtual Machine. It's like having multiple parallel universes where the same rules apply. Learn more about EVM Chains.
A personal blockchain for Ethereum development, providing a simulated environment for testing Ethereum applications without connecting to the main Ethereum network. It's like a sandbox where developers can build and play with Ethereum projects.
Gas Station:
A station that is set up to automate the payment of custom asset transaction fees based on set conditions. In this station, the native asset to a custom asset will be used to pay for the fees of the custom asset transactions.
A security method for confirming the integrity and authenticity of data. It's like using a secret code to ensure a message hasn't been tampered with during transmission. You can learn more about HMAC Verification.
Know Your Customer and Know Your Business are processes for verifying the identity of customers and businesses. It's like doing a background check to ensure you know who you're dealing with. Learn more about KYC and KYB.
A production environment where software or systems run in real-time and interact with live data or users. In this case, you’ll interact with real money and make live transactions on a Blockchain.
The primary blockchain network is where real transactions occur and are recorded permanently.
A platform or environment where assets are bought and sold, typically referring to cryptocurrency exchanges or trading platforms. It's like a digital marketplace where you can trade different assets.
Multi-party computation (MPC) technology is a cryptographic technique to secure private keys by distributing and encrypting them across multiple devices or platforms. It's like dividing a secret code into pieces and storing them in different places for added security. Learn more about MPC Technology.
A digital-only bank that operates exclusively online or through mobile apps, offering banking services without physical branches. It's like having a bank in your pocket, accessible anytime, anywhere.
A wallet with full control and responsibility over your private keys and assets without relying on a third-party service provider. It's like keeping your valuables in a personal safe at home.
Over-the-counter (OTC) desk is a platform where large-volume cryptocurrency trades are conducted directly between buyers and sellers outside traditional exchanges. It's like a VIP lounge for big crypto deals.
A service that facilitates online transactions by securely authorizing and processing payments between merchants and customers. It's like a digital cashier that handles transactions on the internet.
A set of rules, guidelines, or principles established to govern specific actions or behaviors within an organization or system. It's like the terms and conditions you agree to when using a service or product.
A way for different software systems to communicate with each other over the internet. It's like a language that allows different programs to talk to each other and share information. Learn more about REST APIs.
The process of digitally authorizing or validating a transaction or message using cryptographic keys, ensuring its authenticity and integrity. It's like signing a document to confirm that you agree with its contents.
Self-executing contracts with the terms of the agreement directly written into code, automatically enforcing and executing the terms when predefined conditions are met. Learn more about Smart Contracts.
An additional account or child wallet associated with a main account or wallet is often used to manage wallet addresses for your users. It's like having a separate compartment within your safe.
Swap:
The exchange of one cryptocurrency for another is typically facilitated through a decentralized exchange (DEX) or a centralized exchange platform. It's like trading your dollars for euros at a currency exchange booth.
A development or staging environment where software or systems are tested with simulated data or actions without affecting live operations. In this environment, you don’t make real transactions, which should only be used for development or testing.
A parallel blockchain network for testing and experimenting with new features or applications without risking real assets or transactions. It's like a virtual playground for developers to test ideas.
The process of representing real-world assets or rights on a blockchain as digital tokens enables fractional ownership and easier transferability. Learn more about Tokenization.
Digital representations of value on a blockchain. Tokens are like digital assets that can represent anything from currency to ownership in a company. Learn more about Tokens/Coins.
An action that involves transferring or exchanging assets between accounts or wallets on a blockchain network. It's like sending money from one bank account to another. Also, the Transaction can either be a deposit, outgoing transfer, or a contract interaction like deploying and minting ERC20 tokens.
A digital tool that stores, manages, and interacts with cryptocurrencies and other digital assets. It's like a virtual purse for your digital coins.
An automated way for software applications to communicate with each other in real time, triggering actions based on predefined events or notifications. It's like setting up an alert system that notifies you whenever something specific happens.
Updated 2 months ago