Proof of workProof of work (PoW) is a form of cryptographic proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended. Verifiers can subsequently confirm this expenditure with minimal effort on their part. The concept was invented by Moni Naor and Cynthia Dwork in 1993 as a way to deter denial-of-service attacks and other service abuses such as spam on a network by requiring some work from a service requester, usually meaning processing time by a computer.
Internal auditInternal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal auditing might achieve this goal by providing insight and recommendations based on analyses and assessments of data and business processes.
Calypso musicCalypso is a style of Caribbean music that originated in Trinidad and Tobago during the early to the mid-19th century and spread to the rest of the Caribbean Antilles by the mid-20th century. Its rhythms can be traced back to West African Kaiso and the arrival of French planters and their slaves from the French Antilles in the 18th century. It is characterized by highly rhythmic and harmonic vocals, and was historically most often sung in a French creole and led by a griot.
CryptocurrencyA cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.
Consensus (computer science)A fundamental problem in distributed computing and multi-agent systems is to achieve overall system reliability in the presence of a number of faulty processes. This often requires coordinating processes to reach consensus, or agree on some data value that is needed during computation. Example applications of consensus include agreeing on what transactions to commit to a database in which order, state machine replication, and atomic broadcasts.
DecentralizationDecentralization or decentralisation is the process by which the activities of an organization, particularly those regarding planning and decision-making, are distributed or delegated away from a central, authoritative location or group and given to smaller factions within it. Concepts of decentralization have been applied to group dynamics and management science in private businesses and organizations, political science, law and public administration, technology, economics and money.
Tor (network)Tor, short for The Onion Router, is free and open-source software for enabling anonymous communication. It directs Internet traffic via a free, worldwide, volunteer overlay network that consists of more than seven thousand relays. Using Tor makes it more difficult to trace a user's Internet activity. Tor protects personal privacy by concealing a user's location and usage from anyone performing network surveillance or traffic analysis. It protects the user's freedom and ability to communicate confidentially through IP address anonymity using Tor exit nodes.
Diem (digital currency)Diem (formerly known as Libra) was a permissioned blockchain-based stablecoin payment system proposed by the American social media company Meta Platforms. The plan also included a private currency implemented as a cryptocurrency. The launch was originally planned to be in 2020, but only rudimentary experimental code was released. The project, currency and transactions would have been managed and cryptographically entrusted to the Diem Association, a membership organization of companies from payment, technology, telecommunication, online marketplace and venture capital, and nonprofits.
Secure channelIn cryptography, a secure channel is a means of data transmission that is resistant to overhearing and tampering. A confidential channel is a means of data transmission that is resistant to overhearing, or eavesdropping (e.g., reading the content), but not necessarily resistant to tampering (i.e., manipulating the content). An authentic channel is a means of data transmission that is resistant to tampering but not necessarily resistant to overhearing.
Bitcoin networkThe Bitcoin network is a peer-to-peer network of nodes which implement the Bitcoin protocol. The protocol itself implements a highly available, public, and decentralized ledger. The nodes verify that each update to the ledger follows the rules of the Bitcoin protocol. Users broadcast cryptographically signed messages to the network using Bitcoin cryptocurrency wallet software. These messages are proposed transactions, changes to be made in the ledger. Each node has a copy of the ledger's entire transaction history.
