Nonce
By CoinGecko | Updated on May 31, 2021
In cryptography, Nonce is an abbreviation for the term ‘number only used once’ It is similar in spirit to a nonce word, hence the name. It is often a random or pseudo-random number issued in an authentication protocol to ensure that old communications cannot be reused in replay attacks It is of vital importance next to the hash in the verification of data from the Bitcoin blockchain network.
Related Terms
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
Burned Tokens
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable.
Miners
Contributors to a blockchain taking part in the process of mining.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
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