Glossary Term: Cryptocurrency

CoinJoin is a method for combining multiple Bitcoin payments from multiple spenders into a single transaction to make it more difficult for outside parties to determine which spender paid which recipient or recipients. It was first proposed by Gregory Maxwell in 2013.

In traditional Bitcoin transactions, it’s easy to trace payments as every transaction is public on the Bitcoin blockchain. This transparency can potentially lead to decreased privacy as anyone can see the sending and receiving addresses for each transaction.

CoinJoin aims to solve this issue by making transaction origin and destination analysis significantly more difficult. It does this by combining inputs from multiple users into a single transaction with multiple outputs. This way, all participants send and receive the same amount, making the transaction indistinguishable from the others, thereby increasing privacy.

However, it’s important to note that while CoinJoin improves privacy, it does not guarantee complete anonymity. Advanced blockchain analysis techniques may still potentially de-anonymize some CoinJoin transactions. Moreover, because the process involves trust between participants, there could be potential issues if participants act maliciously.

MWEB, which stands for MimbleWimble Extension Block, is a significant upgrade proposed for the Litecoin network.

MimbleWimble is a blockchain protocol that was proposed to enhance privacy and scalability. It achieves this by using a different method of structuring transactions than is used in Bitcoin and Litecoin.

MimbleWimble uses a concept known as “blinding factors”, which allow the sender to encrypt the amount of cryptocurrency they are sending, without hiding the fact that the transaction is valid. This helps to maintain the integrity of the blockchain while enhancing user privacy.

In addition, MimbleWimble is designed to be more scalable than traditional blockchains. This is because it uses a process known as “transaction cut-through”, which removes certain data from previous transactions, significantly reducing the amount of data that needs to be stored on the blockchain.

MWEB is an upgrade that integrates the MimbleWimble protocol into Litecoin as an optional feature. This means that users have the choice to use MWEB and take advantage of the increased privacy and scalability it offers, or continue using the standard Litecoin protocol. This proposal is part of Litecoin’s ongoing effort to position itself as a leading privacy-focused cryptocurrency.

SOL is the native cryptocurrency of the Solana blockchain.

Solana is a high-performance blockchain that supports developers and businesses who want to build decentralized apps (DApps). It’s designed to facilitate fast, secure, scalable, and globally accessible applications and crypto ecosystems.

The SOL token is used for transaction fees and for staking on the Solana network. Staking involves users participating in the network’s proof of stake consensus mechanism, which helps secure the network, and in return, stakers can earn rewards.

Solana is a high-performance, permissionless blockchain designed for decentralized applications and crypto-currencies. It was developed by the Solana Foundation and was released in 2020. The Solana protocol is designed to facilitate decentralized app (dApp) development. It aims to improve blockchain scalability using a combination of proof of stake (PoS) consensus and proof of history (PoH) timestamp technology.

Proof of History is a unique feature of Solana. It’s a method for verifying the time and order of events without relying on a centralized clock. This technology intends to improve the efficiency of the network, allowing it to process fast and secure transactions.

Solana can handle thousands of transactions per second, making it one of the fastest blockchains in the world. It has its native cryptocurrency, called SOL, which is used for transaction fees and for staking in the network to help secure it.

SPL stands for Solana Program Library in the context of the Solana blockchain ecosystem. SPL is a suite of on-chain programs maintained by the Solana team, and it is equivalent to what you might call “smart contracts” in other blockchain networks like Ethereum.

One of the key components of SPL is the SPL Token program, which is a standard that allows developers to create, issue, and manage tokens on the Solana blockchain. These SPL tokens are fungible and transferable assets similar to ERC-20 tokens on the Ethereum blockchain.

ZCash is a privacy-focused cryptocurrency that was designed to offer enhanced security and privacy for its users compared to other cryptocurrencies. It was first launched in 2016 by the Zerocoin Electric Coin Company.

ZCash is built upon and extends the Bitcoin protocol, but includes new features for privacy and security. The main innovation of ZCash is the use of a cryptographic principle known as zk-SNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge). zk-SNARKs enable the network to maintain a secure ledger of balances without disclosing the parties or amounts involved in transactions.

Transactions on the ZCash network can be “transparent” (similar to Bitcoin transactions) or “shielded” for privacy. Transparent transactions operate much like Bitcoin, with details publicly visible on the blockchain. However, shielded transactions encrypt these details into a special section of the blockchain called the “zero-knowledge proof.”

This ability to provide secure, private transactions is what sets ZCash apart from many other cryptocurrencies.

ZEC is the native cryptocurrency of the ZCash network. ZCash is a privacy-focused blockchain and cryptocurrency that was developed and launched in 2016. It’s based on the original Bitcoin codebase, but it introduces advanced privacy features.

ZCash transactions can either be transparent (like Bitcoin transactions), or they can be shielded. Shielded transactions use a form of zero-knowledge proofs called zk-SNARKs to hide information about the sender, receiver, and amount of ZEC being sent. This allows users to send and receive ZEC without revealing any information about their identities or the amounts being transferred, which adds a layer of privacy not found in many other cryptocurrencies.

ZEC is used within the ZCash network to pay for transaction fees and as the primary medium for value transfer. Outside of the ZCash network, ZEC can be bought, sold, and traded on various cryptocurrency exchanges. It can also be held as a form of digital asset investment.

Brave is a free and open-source web browser developed by Brave Software, Inc. It is based on the Chromium web browser and its Blink engine. Brave Software was co-founded by Brendan Eich, the creator of JavaScript and co-founder of Mozilla, the organization behind Firefox.

Here are some key features of the Brave browser:

1. Privacy Focused: Brave is designed to block website trackers and remove intrusive Internet advertisements. The browser also gives the option to opt into its privacy-respecting ads that pay users in the form of Basic Attention Tokens (BAT).
2. Basic Attention Token (BAT): This is an Ethereum-based token that is integrated with the Brave browser. Users can earn BAT by opting into Brave Ads and can spend these tokens on premium content within the Brave platform.
3. Speed and Performance: By blocking unwanted content such as ads and trackers, Brave is able to load web pages significantly faster than other browsers.
4. HTTPS Everywhere: Brave includes a built-in functionality of HTTPS Everywhere, which ensures that connections to websites are always secure whenever possible.
5. Privacy Tools: Brave provides various privacy tools such as private windows, private windows with Tor for enhanced privacy, and fingerprinting protection.
6. Compatibility: Since Brave is based on Chromium, it is compatible with all extensions and web apps available in the Chrome web store.
7. Web3 Support: Brave includes a built-in crypto wallet for Ethereum, enabling the use of decentralized apps, or Dapps, directly in the browser.

DuckDuckGo is an internet search engine that prioritizes user privacy and avoiding the filter bubble of personalized search results. The company’s name is derived from the children’s game Duck, Duck, Goose.

Unlike many other search engines, DuckDuckGo doesn’t track its users. This means it doesn’t collect personal information, doesn’t provide personalized search results, and doesn’t store search history. Therefore, all users will get the same search results for a given search term.

DuckDuckGo began its service in 2008 and has grown steadily since. It is available in multiple languages and offers a range of features, such as instant answers, voice search, and Q&A pages, alongside its core search function. The user interface is clean and intuitive, making it a popular choice for those concerned about privacy online.

Please note that while DuckDuckGo offers more privacy than many other search engines, using it doesn’t make you anonymous on the internet. Your internet service provider (ISP) can still potentially see your browsing activity unless you’re also using other privacy tools, such as a VPN or the Tor network.

Basic Attention Token (BAT) is a digital advertising token which is built on the Ethereum blockchain. The BAT platform was developed by the creator of JavaScript and co-founder of Mozilla and Firefox, Brendan Eich. It was introduced to the market in 2017 through an initial coin offering (ICO).

The Basic Attention Token aims to improve the efficiency of digital advertising. It does this by creating a new unit of exchange between publishers, advertisers, and users. The value of the token is based on user attention, which is essentially a measure of mental engagement.

BAT is used within the Brave browser, a free and open-source web browser developed by Brave Software, Inc. that blocks ads and website trackers, providing a way for users to navigate the internet without being tracked while still supporting content creators.

Users of the Brave browser can opt in to view privacy-respecting advertisements and receive BAT as compensation. On the other hand, advertisers pay with BAT to show their ads to users. Users can then donate their earned BAT to websites and content creators.