Encryption
By Cryptomcmillan1 | Updated on May 24, 2020
Encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext. It is the practise of secured communication.
Related Terms
Derivatives
A financial instrument which derives its value from the performance of an underlying asset or index (eg. gold, crude oil)
ASIC Resistant
A term used to describe cryptocurrency proof-of-work protocols that are resistant to Application-Specific Integrated Circuit (ASIC), by packing in various parameters that make it difficult for ASICs to have a competitive edge against consumer hardwares.
Soft Fork
A backward-compatible update to a decentralized blockchain protocol.
Trustless
Entirely verifiable, without needing to trust or assume an action is done completely and in good faith.
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