AlgorithmBy Cryptomcmillan1 | Updated on May 24, 2020
Algorithm is a set of rules to follow to solve a problem or conduct a task. In computer or programming, an algorithm is needed for a computer to do its task accordingly. It is not a computer code and it needs to be converted to the language where the computer can understand.
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In cryptography, 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.
Segregated Witness (SegWit)
A soft fork implementation to change the Bitcoin Protocol's transaction format to address Bitcoin's scalability issues whilst introducing new features.
In the context of crypto, oracles refers to services which verify real-world and provide data to blockchains/smart contracts.
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
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