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Understanding DigiByte & Blockchain Terminology

The term referring to the entire DigiByte global ecosystem.

The term referring to more than one DigiByte.

The term referring to the series of blocks linked together.  This is the record or ledger part of DigiByte.

A collection of all the transactions that occurred on the DigiByte network within a 15-second time frame globally.

UTXO is geek-speak for “unspent transaction output.” Unspent transaction outputs are important because fully validating nodes use them to figure out whether or not transactions are valid– all inputs to a transaction must be in the UTXO database for it to be valid.

DigiByte mining is the process by which transactions are verified and added to the public ledger, known as the blockchain, and also the means through which new DigiBytes are minted.

The process of sending DigiBytes from one wallet to another wallet across the global network.

The term used to imply the value and scarcity of a DigiByte.

Difficulty is a measure of how difficult it is to find a hash for new blocks to be generated on the blockchain. Think of difficulty as a really complicated math problem that makes sure new DigiByte blocks occur at 15-second intervals. Each of the five DigiByte mining algorithms has its own individual difficulty calculation

This is a well-known potential attack for UTXO proof of work blockchains where a bad actor takes over 51% of the mining power and begins altering transactions.  DigiByte is much more resilient to 51% attack as it uses five individual mining algorithms. 

Short for "proof of work." A proof-of-work (POW) system (or protocol, or function) is an economic measure to deter denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer.