State Channel
By CoinGecko | Updated on Mar 03, 2020
A second-layer solution to allow payments to be performed off-chain.
Related Terms
Encryption
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.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Mnemonics
Mnemonics are memory aids with a system such as letters or associations that help in recall. *see Mnemonic Phrase.
Double Spending
Double spending refers to the act of spending digital currencies twice. This is most commonly applied on crypto exchanges by unscrupulous actors.
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