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A mnemonic phrase (also known as mnemonic seed, or seed phrase) is a list of words used in sequence to access or restore your cryptocurrency assets. It should be kept secret from everyone else. It is a standard in most HD wallets.
A Qtum Core wallet (full node) providing Proof of Stake for delegated addresses, and keeping a small part of each block reward as their fee for providing the staking services.
It is the "second layer" or an off-chain of payment protocol that operates on top of a blockchain. Payments on this network do not need block confirmation and it will be instant.
