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2. Explainer: What common cryptocurrency terms mean - AOL

   www.aol.com/finance/explainer-common-crypto...

   Bitcoin uses a proof-of-work system, a process that consumes significant energy and resources. ... Wallet. A cryptocurrency wallet is a device used to store and manage crypto holdings. It ...

3. Proof of work - Wikipedia

   en.wikipedia.org/wiki/Proof_of_work

   Bitcoin is a proof-of-work digital currency that, like Finney's RPoW, is also based on the Hashcash PoW. But in bitcoin, double-spend protection is provided by a decentralized P2P protocol for tracking transfers of coins, rather than the hardware trusted computing function used by RPoW.

4. Bitcoin protocol - Wikipedia

   en.wikipedia.org/wiki/Bitcoin_protocol

   A diagram of a bitcoin transfer. The bitcoin protocol is the set of rules that govern the functioning of bitcoin.Its key components and principles are: a peer-to-peer decentralized network with no central oversight; the blockchain technology, a public ledger that records all bitcoin transactions; mining and proof of work, the process to create new bitcoins and verify transactions; and ...

5. Cryptocurrency wallet - Wikipedia

   en.wikipedia.org/wiki/Cryptocurrency_wallet

   An example paper printable bitcoin wallet consisting of one bitcoin address for receiving and the corresponding private key for spending. A cryptocurrency wallet is a device, [1] physical medium, [2] program or an online service which stores the public and/or private keys [3] for cryptocurrency transactions.

6. How Much Energy Does Bitcoin Use? - AOL

   www.aol.com/news/much-energy-does-bitcoin...

   The Bitcoin network relies on thousands of miners running energy intensive machines 24/7 to verify and add transactions to the blockchain. This system is known as “proof-of-work.

7. Cryptocurrency - Wikipedia

   en.wikipedia.org/wiki/Cryptocurrency

   An example paper printable Bitcoin wallet consisting of one Bitcoin address for receiving and the corresponding private key for spending Main article: Cryptocurrency wallet A cryptocurrency wallet is a means of storing the public and private "keys" (address) or seed, which can be used to receive or spend the cryptocurrency. [ 83 ]

8. Bitcoin - Wikipedia

   en.wikipedia.org/wiki/Bitcoin

   Bitcoin wallets were the first cryptocurrency wallets, enabling users to store the information necessary to transact bitcoins. [ 93 ] [ 7 ] : ch. 1, glossary The first wallet program, simply named Bitcoin , and sometimes referred to as the Satoshi client , was released in 2009 by Nakamoto as open-source software . [ 6 ]

9. Proof of stake - Wikipedia

   en.wikipedia.org/wiki/Proof_of_stake

   In 2021, a study by the University of London found that in general the energy consumption of the proof-of-work based Bitcoin was about a thousand times higher than that of the highest consuming proof-of-stake system that was studied even under the most favorable conditions and that most proof of stake systems cause less energy consumption in ...