Bitcoin Glossary – Terminology and Definitions

It is a quick reference to the most important Bitcoin terminology. Please check any term to reveal the definition.

Bitcoin Glossary

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There are currently 6 names in this directory beginning with the letter P.
Paper Wallet
A type of cold storage wallet where private keys are printed on a piece of paper or other physical medium.

Peer to Peer
A type of network where participants communicate directly with each other rather than through a centralized server. The Bitcoin network is peer to peer.

Private Key
A string of letters and numbers that can be used to spend bitcoins associated with a specific Bitcoin address.

Proof of Work
A piece of data that requires a significant amount of computation to generate but requires a minimal amount of computation to be verified as being correct. Bitcoin uses proof of work to generate new blocks.

The official rules that dictate how participants on a network must communicate. Bitcoin's protocol specifies how each node connects with the others, how many bitcoins will exist at any point in time, and defines other aspects of the network.

Public Key
A string of letters and numbers that is derived from a private key. A public key allows one to receive bitcoins.

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