Chain reorganisation is a process that occurs in blockchain networks when two versions of the transaction history temporarily exist and the network must decide which one to continue building upon. This usually happens when miners find blocks at nearly the same time, creating competing chains. The network resolves this by choosing the longest valid chain,…
A wallet seed phrase is a set of words, typically 12 or 24, used to create and recover a cryptocurrency wallet. This phrase acts as the master key that can restore access to all the funds and accounts within the wallet, even if the device is lost or damaged. Keeping the seed phrase safe and…
A consensus mechanism is a method used by computer networks to agree on a single source of truth, even when many participants are involved. It ensures that all records or transactions are accurate and trustworthy, preventing fraud or errors. This process is vital for systems like blockchains, where no central authority exists to oversee decisions.
Private key management refers to the processes and tools used to securely store, use, and protect cryptographic private keys. These keys are critical for accessing encrypted data or authorising digital transactions, so their security is essential to prevent unauthorised access. Good private key management involves creating, storing, backing up, and eventually destroying private keys safely,…
Public key cryptography is a method for securing digital communication by using two different keys. One key is public and can be shared with anyone, while the other key is private and kept secret. Messages encrypted with the public key can only be decrypted with the matching private key, ensuring that only the intended recipient…
Data tokenisation is a security process that replaces sensitive information, like credit card numbers, with unique identifiers called tokens. These tokens have no meaningful value if accessed by unauthorised people, but they can be mapped back to the original data by someone with the right permissions. This helps protect confidential information while still allowing systems…