Glossary-P
P
Paper Hands
- Slang
- Term originally coined on the r/WallStreetBets subreddit referring to traders who have sold too early.
- See also: #Ape, #Diamond Hands, #FOMO
Peer-To-Peer
- Interactions between two parties without any intervening players, but may be coordinated by an application or network. Nodes on a distributed network can communicate directly without the need for a centralized server utilizing peer-to-peer functionality.
Pending Transaction
- A transaction that has been authorized but has not yet been confirmed or validated by the network.
- See also: #Speed Up Transactions, #Stuck Transactions, #Transaction
PFP
- Acronym - Profile Picture
- Some NFT projects are intentionally marketed as PFPs and displayed by holders in order to showcase their support.
- See also: #NFT
Play-To-Earn
- The practice of earning blockchain assets by playing games that can then be bought, sold, or traded on NFT marketplaces.
- See also: #NFT, #NFT Marketplace
PoAP
- Acronym - Proof of Attendance Protocol
- A collectible NFT intended to verify and validate attendance at both online and real-world events.
- See also: #NFT
Polygon
- An Ethereum layer 2 blockchain network launched in 2017 as "Matic Network" and utilizing a Proof of Stake consensus mechanism.
- MATIC is the native token of Polygon.
- See also: #Ethereum, #Layer 2, #Proof of Stake
Primitive
- A reusable, fundamental, low-level component that provides essential functionality for more complex applications and services. Often standardized for common tasks and interactions that can be leveraged to build tools interoperable across multiple platforms.
Private Blockchain
- A blockchain with a closed network where access is restricted to authorized participants in order to provide a higher level of privacy and confidentiality.
- See also: #Blockchain
Private Key
- Half of a key pair used in cryptography kept secret and used to generate digital signatures that can be verified by the public half of the key pair. Private keys are often managed by cryptocurrency wallets since they are typically long strings of random or pseudo-random alphanumeric characters and difficult for most people to memorize.
Proof of Authority
- A blockchain consensus mechanism used by private networks in which transactions and blocks are authenticated and approved by validators chosen based on their identities and reputations.
- See also: #Proof of History, #Proof of Stake, #Proof of Work
Proof of History
- A blockchain consensus mechanism utilizing cryptographic timestamps and historical data that has been compressed by a hash function.
- See also: #Proof of Authority, #Proof of Stake, #Proof of Work
Proof of Stake
- A blockchain consensus mechanism utilizing validators chosen to create new blocks and verify transactions based on the number of relevant coins they have locked up as collateral.
- See also: #Proof of Authority, #Proof of History, #Proof of Work
Proof of Work
- A blockchain consensus mechanism utilizing validators to authenticate and confirm transactions, in addition to solving complex mathematical puzzles. Miners who solve the puzzle first are rewarded with newly generated coins, collected transaction fees, or both.
- See also: #Proof of Authority, #Proof of History, #Proof of Stake
Protocol
- A set of foundational standards governing how networks function, defining how data and information is transmitted, shared, and processed.
Public Address
- A unique identifier based on the public half of a cryptographic key pair, often referred to as a wallet address. Comparable to an email address or bank account number, public addresses are publicly available and can be shared with others to facilitate transactions.
Public Key
- Half of a key pair used in cryptography used to verify digital signatures generated by the private half of the key pair. Public keys are often publicly available and can be shared with others to facilitate secure communications.
Public Key Encryption
- A cryptographic technique using a public key and private key pair to secure data communication, also known as asymmetric encryption. The private key is kept secret and used to generate digital signatures, while the public key may be freely shared to verify digital signatures generated by its public counterpart.
Pump and Dump
- A fraudulent scheme where the price of an item is artificially inflated through false or misleading statements, creating a temporary increase in price. The perpetrators then sell their holdings to unsuspecting investors at the inflated price, causing the price to plummet.
- See also: #FOMO, #Rekt, #Rug/Rug Pull