Protocol
A protocol is a set of rules that explains how things work on a network, like how transactions are approved and how people can join in on a blockchain.
More terms under P
- Proof-of-SpacetimeProof-of-Spacetime (PoSt) is a way to prove that you are using a specific amount of storage space over a period of time.
- Proof-of-Time (PoT)Proof-of-Time (PoT) is a way for blockchain networks to agree on updates and transactions. It selects validators—people who confirm transactions—based on their…
- Proof-of-ValidationProof-of-validation (PoV) is a way for cryptocurrency networks to agree on transactions using a system where people stake or lock up their coins. Validators,…
- Protocol LayerA protocol layer in blockchain refers to the set of rules and processes that dictate how the network functions. It includes the algorithms that help the…
- PseudonymousPseudonymous means using a fake name instead of your real one, like how Bitcoin's creator is known as "Satoshi Nakamoto.
- Public AddressA public address is a string of letters and numbers derived from a public key that you can share with others to receive payments in cryptocurrency.
Educational definition. Protocol rules and market conventions can differ; check an asset's official documentation.