Block
A batch of transactions, cryptographically chained to the one before it, added to the ledger roughly every ten minutes.
Also called: blocks, block height
Bitcoin Glossary
Every term this newsroom uses, defined plainly. No jargon left unexplained.
B
C
Cold storage
Keeping the keys that control bitcoin on a device that has never been connected to the internet.
Also called: cold wallet, offline storage
Confirmation
A count of how many blocks have been mined on top of the block containing a transaction.
Also called: confirmations
Custody
The arrangement by which someone holds the keys to bitcoin on another party's behalf.
Also called: custodian, qualified custodian
D
Difficulty adjustment
The automatic recalibration, every 2,016 blocks, that keeps blocks arriving roughly ten minutes apart.
Also called: difficulty retarget
F
Fee rate
What a transaction pays for block space, quoted per unit of size rather than as a percentage of the amount sent.
Also called: transaction fee, sats per vbyte
Full node
Software that independently verifies every rule of the Bitcoin protocol rather than trusting anyone else's word.
Also called: node, bitcoin node
H
Halving
The scheduled event, every 210,000 blocks, at which the reward for mining a block is cut in half.
Also called: halvening, block subsidy halving
Hashrate
The total computational power miners are pointing at the Bitcoin network, measured in hashes per second.
Also called: hash rate, network hashrate
L
Lightning Network
A payment layer built on Bitcoin that settles most transfers off-chain, keeping them fast and cheap.
Also called: Lightning, LN
M
Mempool
The waiting room of transactions that have been broadcast but not yet included in a block.
Also called: memory pool
R
Recovery phrase
The list of words from which every key in a wallet can be regenerated. Anyone who reads it can spend the funds.
Also called: seed phrase, mnemonic, backup phrase
S
Satoshi
The smallest unit of bitcoin: one hundred millionth of a single coin.
Also called: sats, satoshis
Self-custody
Holding the keys to your own bitcoin, rather than trusting a company to hold them for you.
Also called: non-custodial, holding your own keys
Spot ETF
An exchange-traded fund that holds bitcoin itself, giving investors exposure through an ordinary brokerage account.
Also called: spot bitcoin ETF, exchange-traded fund
U
UTXO
An unspent transaction output: a discrete chunk of bitcoin that a future transaction can consume.
Also called: unspent transaction output, UTXOs
No term matches that. Try a shorter word.
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