Confused by all the cryptocurrency terms out there? Delve into our easy to understand glossary of terms. This week, the letter C.
Candlesticks: A candlestick chart is a graphing technique used to show changes in price over time. Each candle provides four points of information opening price, closing price, high, and low. Also known as “candles” for short.
Casascius Coin: A physical unit of bitcoin that comes in the form of brass, silver or gold-plated coins.
Censorship Resistance: Censorship resistance refers to the idea that no party can prevent anyone from participating in a given platform or network.
Chargeback: The reversal of a bank payment or money transfer after it was authorized. Sometimes used to commit fraud. There are no chargebacks associated with the bitcoin network.
Chicago Mercantile Exchange (CME): The Chicago Mercantile Exchange (CME) is one of the largest exchanges dealing in the trading of futures and options in the United States.
Cipher: The name given to an algorithm that encrypts and decrypts information.
Ciphertext: Ciphertext is a result of encryption that has been performed on plaintext through the usage of an algorithm
Circulating Supply: This is the total number of coins that are in the public tradable space and is considered the Circulating Supply. Some coins can be locked, reserved or burned, therefore unavailable to public trading.
Cloud Mining: Cryptocurrency mining with remote processing power rented from companies.
Cold Storage: The storage of bitcoin private keysd that is totally disconnected from the internet. Typical cold storage includes USB drives and paper wallets.
Coinbase: The first transaction in each Bitcoin block, which distributes the subsidy earned when a miner successfully validates it as well as the cumulative fees for all transactions included in the block. The coinbase transaction effectively creates new bitcoin.
CoinJoin: A method for combining multiple Bitcoin payments from multiple senders into one transaction to obscure which spender paid which recipients, thus adding a layer of privacy to bitcoin transactions.
Coin Mixer: Coin mixers allow users to mix up transactions between different cryptocurrency addresses, so they become untraceable and cannot be followed back to the initial sender or receiver of the assets.
Commodity Futures Trading Commission (CFTC): The Commodity Futures Trading Commission (CFTC) is an independent federal regulatory agency responsible for regulation the U.S. derivatives market.
Confirmation: A bitcoin transaction is considered unconfirmed until it has been included in a block on the blockchain. Once a transaction is written included on the blockchain it has one confirmation. As each additional block gets added so another confirmation is added. Coinbase (the exchange) currently requires 3 confirmations to consider a bitcoin transaction final. For larger sums of money some people prefer 6 confirmations.
Consensus: Since cryptocurrencies don’t have a central authority determining which transactions are valid and which are not and in which order they took place, the network of nodes, relying purely on software and algorithms, needs to reach an agreement regarding those factors. Such an agreement is called network consensus.
Consortium Blockchain: A privately owned and operated blockchain where a consortium shares information not readily available to the public, while relying on the immutable and transparent properties of the blockchain.
Cosigner: Another person that has partial control over your bitcoin wallet, assuming you set it up this way.
Craig Wright: Craig Wright is an Australian computer scientist that has publicly claimed to be bitcoin inventor Satoshi Nakamoto.
Cryptography: This is a branch of mathematics that is associated with the process of converting ordinary plain text into unintelligible text and vice-versa.
Cryptojacking: The use of another party’s computer to mine cryptocurrency without their consent.
Cypherpunk: The cypherpunk movement promotes the use of cryptography and other privacy-focused technologies to advance social and political progress.
Glossary written by Stephen Whitelaw (https://bringbackmycrypto.com)