S Archives - BTC Lexicon

Satoshi Nakamoto

Satoshi Nakamoto is a person famous as a founder of bitcoin and creator of unique bitcoin client. In his P2P Foundation profile he told that he was from Japan. Nothing else is known about him. He was working out his project since 2007 and in 2010 he finished his participation in bitcoin development. The Bitcoin founder is still unknown. Satoshi Nakamoto is the name, by which scientific work setting forward theoretical foundations about bitcoin is signed, so that it is unclear whether it is a pseudonym or not. On a P2P Foundation profile, he claimed to be a man living in Japan, born on 5 April 1975.

Satoshis (Sats)

The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.

Scalability

Scalability is the property of a system to handle a growing amount of work by adding resources to the system. In an economic context, a scalable business model implies that a company can increase sales given increased resources. For example, a package delivery system is scalable because more packages can be delivered by adding more delivery vehicles. However, if all packages had to first pass through a single warehouse for sorting, the system would not be scalable, because one warehouse can handle only a limited number of packages. In computing, scalability is a characteristic of computers, networks, algorithms, networking protocols, programs and applications.

Schnorr Signature

In cryptography, a Schnorr signature is a digital signature produced by the Schnorr signature algorithm that was described by Claus Schnorr. It is a digital signature scheme known for its simplicity, among the first whose security is based on the intractability of certain discrete logarithm problems. It is efficient and generates short signatures.

Scrypt

In cryptography, scrypt (pronounced "ess crypt") is a password-based key derivation function created by Colin Percival, originally for the Tarsnap online backup service. The algorithm was specifically designed to make it costly to perform large-scale custom hardware attacks by requiring large amounts of memory. In 2016, the scrypt algorithm was published by IETF as RFC 7914. A simplified version of scrypt is used as a proof-of-work scheme by a number of cryptocurrencies, first implemented by an anonymous programmer called ArtForz in Tenebrix and followed by Fairbrix and Litecoin soon after.

Secure Hash Algorithm (SHA)

The Secure Hash Algorithms are a family of cryptographic hash functions published by the National Institute of Standards and Technology (NIST).

Seed

A seed phrase, seed recovery phrase or backup seed phrase is a list of words which store all the information needed to recover Bitcoin funds on-chain. Wallet software will typically generate a seed phrase and instruct the user to write it down on paper. If the user's computer breaks or their hard drive becomes corrupted, they can download the same wallet software again and use the paper backup to get their bitcoins back.

Segregated Witness

SEGWIT, or Segregated Witness, is the name used for an implemented soft fork change in the transaction format of Bitcoin. The declared purpose was to prevent nonintentional bitcoin transaction malleability, allow optional data transmission, and to bypass certain protocol restrictions (such as the block size limit) with a soft fork. It was also intended to mitigate a blockchain size limitation problem that reduces bitcoin transaction speed.