Enrich your dictionary with important cryptocurrency terms.
A paper wallet is a secure form of cryptocurrency storage. In the case of a paper wallet, the user prints the private key and public address, for example with a QR code on paper. And if you want to send cryptocurrencies from this wallet, you must import its private keys to another wallet. Then you can continue to work with your funds.
A data transfer between two or more parties that operates directly without a central node. Data, files and any other information can be shared this way.
The Proof of Stake consensus isn't based on mining (like Proof of Work) and is less energy intensive. The blockchain transaction verification mechanism is based on validators who lock their coins and receive a reward as transaction fees for this verification.
The Proof of Work consensus means that the miners that mine the cryptocurrency run the network. They receive a reward for their work. But of course, this reward isn't physical. Miners use computing power, and after calculating the hash function and creating a new block, they are rewarded for extracting the cryptocurrency. PoW uses, for example, Bitcoin or Litecoin for its operation.
A secret key that uniquely identifies a particular account and should only be known by its owner. This combination of letters and numbers enables access to the cryptocurrencies in your wallet.