Ring signature – A type of encryption which protects the anonymity of the cryptocurrency user. What it does is mask the original transaction behind multiple redundant transactions. For example if ‘A’ transfers 10 coins to ‘B’, then instead of one single transaction, we might see 3 different transactions of coins 3, 3, and 1 from ‘A’ to ‘C’, ‘D’, and ‘E’, and then the same amount of coins going from ‘C’, ‘D’, and ‘E’ to ‘B’. More the number of users more are the number of redundant transactions, thus making it impossible to trace who transferred what amount and to whom.
Satoshi Nakamoto – The individual or group of individuals that created the Bitcoin.
SATS – The smallest unit of the Bitcoin which is 0.00000001 BTC. It is taken from Satoshi Nakamoto.
SHA-256 – The name of the hashing algorithm, or hash function used by Bitcoin and a lot of other altcoins.
Soft fork – A fork where transactions that were valid previously become invalid. It happens because old Nodes that are running on old protocol have not been upgraded yet.
Unconfirmed – When a transaction made by a coin has not been verified by the network it is unconfirmed. This coin cannot be used to make any further transaction until and unless it is confirmed.
Wallet – A cryptocurrency wallet allows you to send and receive cryptocurrencies by storing the private and the public key. The private key is used to send money, while the public key is used to receive money.