Cold storage removes the largest attack surface — a networked machine — at the cost of convenience. It is the standard approach for holdings that will not be moved often. It does not remove operational risk: a cold wallet whose recovery phrase was photographed on a phone is no safer than a hot one.
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
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Confirmation
A count of how many blocks have been mined on top of the block containing a…
Custody
The arrangement by which someone holds the keys to bitcoin on another party's behalf.
Difficulty adjustment
The automatic recalibration, every 2,016 blocks, that keeps blocks arriving roughly ten minutes apart.
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