Safex Dictionary

In this Safex Dictionary you will find the most used terms related to Project Safex.

Safex Dictionary

Capitalized Words used in the explanations generally means that term also has its own definitions provided within the Dictionary.
Numeric commas [,] are used as thousand separators.
Numeric periods [.] are used to indicate fractional decimal places.
Example: 987,654.321


# A  B  C  D  E  F  G  H  I   J  K  L  M  N  O  P  R  S  T  U  V  W  Y  Z


# Numbers

1-Click Miner

1-Click Miner - a Cryptocurrency Miner that can be started with just a single click (or maybe a few), designed for ease of use, and targeted towards novice users. More information on the Safex 1-Click Miner for Windows can be found here, and form Mac here.

1-Time Passcode (OTP)

1-Time Passcode (OTP) - a security protocol commonly employed as an extra layer of protection on banking apps and cryptocurrency exchanges, often in conjunction with a PIN or login password. An OTP code is generated either in an app on a mobile device or sent via text message, which is only valid once, and usually has a very limited lifespan (sometimes only 60-90 seconds) before it expires. See also Two-Factor Authentication.

1-Time Wallet Address

1-Time Wallet Address - see Stealth Address.

10-Block Pending

10-Block Pending - see Pending.

2-Coin Ecosystem

2-Coin Ecosystem - a Blockchain protocol upon which resides 2 coins. For Safex, these are Safex Token and Safex Cash. Further reading here.

Two-Factor Authentication

2FA (2-Factor Authentication) - a secondary validation process used to increase security of online accounts, such as on a cryptocurrency exchange. An OTP is a form of 2FA, but can also be an email confirmation, or some other secondary method of user confirmation.

22,000-Block Token Lock

22,000-Block Token Lock - the amount of time a user has 1,000 Safex Tokens locked for each time they create a Merchant Account. After the 22,000 blocks have elapsed (approximately 30 days), the 1000 Safex Tokens return to the user’s Available Balance automatically. Further reading here.

25,000 Minimum Stake Amount

25,000 Minimum Stake Amount - the minimum parcel size for a Stake Transaction. Further reading here.

5% Selling Fee

5% Selling Fee - see Safex Marketplace Fee.

500,000-Block Maximum Staking

500,000-Block Maximum Staking Eligibility for Rev Share - see Maximum Staking Eligibility Limit.

8,000-Block Token Lock

8,000-Block Token Lock - the amount of time a user has their newly Staked Safex Tokens locked for, before they can Unstake them. Further reading here.

99% Token Distribution

99% Token Distribution - the percentage of the original Safe Exchange Coin that was sold during the Crowdsale. Further reading here.

A

Account

Account - see Merchant Account.

Accrued

Accrued - the term used to indicate the amount of Rev Share (Safex Cash) currently associated with a specific Staked amount of Safex Tokens.

Address

Address - a unique sequence of letters and numbers, used by the Blockchain to identify the sender or receiver of a Cryptocurrency, which are derived from the owner’s Private Key/s. See also Stealth Address, Safex Wallet Address.

Advanced Transactions

Advanced Transactions - all the various Transaction types, other than Simple Transactions, within the Safex Blockchain protocol. These include all Marketplace functions, plus the Staking component. Further reading here.

Airdrop

Airdrop - normally refers to an unsolicited distribution of a cryptocurrency, but in the case of Safex Project, refers to the free Safex Cash (SFX) that participants of the Safex Migration Process received, when they exchanged their Safe Exchange Coins for Safex Tokens 1:1. Further reading here.

AML

AML (Anti-Money Laundering) - AML compliance relates to the prevention of criminals and criminal enterprises from laundering money through Financial Institutions or other similar entities, such as Cryptocurrency Exchanges. Cryptocurrency Exchanges are increasingly required to comply with AML/KYC requirements of the jurisdictions in which they operate. See also KYC.

Anonymity

Anonymity - the protection of one's privacy through the use of practices and technologies that help to obfuscate a user’s true identity.

API

API (Application Programming Interface) software - an intermediate software layer that allows two software systems to work together. With the Safex Project, the TWM-API layer, which provides listings display in the Safex TWM Wallet and encrypted messaging between buyers and sellers, is one such example.

Available Balance

Available Balance - The amount of coins in your Wallet that can be transacted. For Safex Blockchain, the available actions include simple Sends (Safex Tokens/Cash), Staking (Safex Tokens), Purchasing (Safex Cash) goods and service on Safex Market, and used to cover Transaction Fees (Safex Cash) for all of the available Transaction commands.

B

Backup

Backup - a security practice employed by cryptocurrency users, which safeguards the critical information relating to the cryptocurrencies they hold. Private Keys and/or Mnemonic Seed Phrases are recorded on Paper Wallets, Crypto-steels, or in electronic files on one or more USB Sticks, which are then placed in a safe, strongbox, or other secure location.

Bernal, Aharon

Aharon Bernal is an eCommerce specialist and CPO of Safex.Market. Find him on Twitter.

Block

Block - a specific ledger entry in a blockchain database, which stores transaction information. Each block found is added to the ledger, linked to the previous block, thus creating a chain of blocks, hence the term ‘blockchain’.

Block Difficulty

Block Difficulty - a number which represents the current difficulty factor applied to a New Block Template, with the intended goal of the block hash being solved at a 2-minute block time, based on mathematical probabilities. Further reading here.

Block Explorer

Block Explorer - see Blockchain Explorer.

Block Hash

Block Hash - a unique alphanumeric string, which can be used to identify a specific block of a blockchain. Further reading here.

Block Height

Block Height - The numerical value assigned to a specific block. Further reading here. See also Top Block.

Block Interval

Block Interval - the timeframe of 1,000-blocks, upon which the Safex Commission Pool accumulates, before being allocated as Revenue Share amongst eligible Staked Safex Tokens. The process repeats, every 1,000 blocks, at every block starting at n000. Further reading here and here.

Blockchain

Blockchain - a distributed database, which means it exists in multiple locations, connected via nodes, which communicate together through a consensus mechanism to determine the content of the database. Further reading here.

Blockchain Explorer

Blockchain Explorer - a website interface that displays assorted information about a cryptocurrency and allows users to make queries to the blockchain via search/input fields. The Safex blockchain explorer can be found at explore.safex.org.

Bluepaper

Bluepaper - usually a more technical document than a Whitepaper. A Bluepaper provides the technical specifications the project is aiming to implement during development of the project. These specifications are not set in concrete, and often change during the development process, due to adjustments in thinking by the team, either because of improvements, budget limitations or other factors that require a change of course. The Safex Bluepaper was originally released in January 2018, and a copy can be obtained via this link. See also Whitepaper.

Branch

Branch - a specific version of a software Repository on GitHub.

Bug

Bug - an issue that causes a software program to not function in its intended manner.

Bug Report

Bug Report - a report prepared for software developers, to assist in correcting errors found in a piece of software.

Burn

Burn - the act of sending coins to a ‘black hole’ address. The coins can no longer be accessed or used, and are permanently removed from the Circulating Supply (like throwing paper money in a fire). The Safex Migration process required a burn of old, original Safe Exchange Coins, which were replaced 1:1 with Safex Tokens.

C

Checksum

Checksum - an alphanumeric string that can be used to verify the authenticity of a downloaded file. Checksums for Safex Blockchain and Wallet files are posted on the respective Github repositories for software releases.

Circulating Supply

Circulating Supply - the number of coins of a Cryptocurrency that are able to be transacted. Circulating Supply can be fixed (Eg. Safex Token) or can increase with each new Block found (Eg. Safex Cash). Circulating Supply for Safex Blockchain can be found on the Blockchain Explorer.

CLI

CLI (Command Line Interface) - a program whose interface accepts instructions in the form of text commands and associated parameters. See also CLI Wallet and Safexd.

CLI Wallet

CLI Wallet -  allows user interaction via a simple CLI window, where instructions are typed in manually. There are no buttons or fancy graphic displays, as seen in a GUI (Graphical User Interface) Wallet. The Safex CLI Wallet allows full functional use of the Safex Blockchain basic send/receive and advanced marketplace commands. It also allows blockchain query commands. However, lacking the ability to display graphics, the CLI Wallet is less than ideal for use as an actual eCommerce marketplace wallet, to buy and sell products, because goods listed for sale cannot be displayed photographically. This is why the GUI Safex TWM wallet has been created. See also GUI Wallet and TWM Wallet.

Coin

Coin - any Token or Currency of a Blockchain.

Commit

Commit - a snapshot of a GitHub Repo, which keeps a record of the state of the files at the time it was taken.

Consensus

Consensus - the method whereby all nodes communicate with each other to ensure all instances of the blockchain are identical. See also Orphaned Blocks.

Create

Create - a Safex Blockchain Transaction parameter that initiates new entries for Safex Marketplace. Create Transactions exist for Merchant Accounts, Offers, Price Pegs.

Crowdsale

Crowdsale - a way of raising funds for a project. For the original Safe Exchange Coin project, the crowdsale was run as a Dutch Auction. Specific information about the Safex crowdsale can be found here. See also Dutch Auction.

Crypto-ecommerce

Crypto-ecommerce - the use of digital transaction systems, using cryptocurrency, to exchange for goods and services. With its low barrier to entry and privacy-focussed platform, Safex Market is a shining example of best practice in this evolving space. Further reading here.

Cryptocurrency

Cryptocurrency - a digital currency that utilizes cryptography methodologies to create an emission of said currency over a period of time. Many cryptocurrencies exist, the most well-known being Bitcoin. Ideally, a cryptocurrency should be decentralized, have strong privacy attributes, and have a coin Emission Curve that allows for fair distribution over a long period of time. Safex blockchain meets all of these ideals, and includes a built-in marketplace that facilitates global free-trade, allowing direct exchange of cryptocurrency (Safex Cash) for goods and services. Further reading here.

Cryptocurrency (Crypto) Exchange

Cryptocurrency (Crypto) Exchange - a platform that facilitates the exchange of various Cryptocurrencies with other Cryptocurrencies or Fiat currencies.

CryptoNight

CryptoNight - a hashing algorithm previously used by the Safex Blockchain, but has since been replaced with the RandomSFX hashing algorithm, in an effort to create a more egalitarian mining capability for the blockchain. See also RandomSFX.

CryptoNote

CryptoNote - the privacy-focussed application layer (codebase) upon which Safex, Monero and several other privacy blockchains are based. CryptoNote uses a record-keeping system of Outputs to keep track of every transactional coin movement. Further reading here. Privacy is established through the use of Ring Signatures and Stealth Addresses. Further reading here and here.

Crypto-Steel

Crypto-Steel - one or more strips of corrosion-resistant metal (Eg. titanium or stainless steel) which have the Private Keys and/or Mnemonic Seed Phrase of a crypto wallet stamped into them. This provides a virtually indestructible backup. Data inscribed onto Crypto-Steels is impervious to flood, fire, magnetic interference, and cannot be accidentally deleted, erased or reformatted. Further reading here.

CPU Mining

CPU Mining - Proof-of-Work mining of a cryptocurrency using a computer’s CPU. Safex blockchain uses the RandomSFX hashing algorithm, which is most efficient - by design - using a regular PC’s CPU. Further reading here.

Currency

Currency - the medium of exchange coin of a Cryptocurrency that is in circulation. Normally has a scheduled emission curve, with new coins entering circulation with each new Block.

D

Daemon

Daemon - see Node.

Daemon Host

Daemon Host - The Node a user connects their TWM Wallet to when they open it, in order to connect to the blockchain network and allow it to sync and perform transactions. Further reading here.

Dabek, Daniel

Daniel Dabek is a software developer and CEO of Safex.Market. Find him on Twitter.

Decentralization

Decentralization - a practice of storing information in multiple locations simultaneously, by way of a distributed network of nodes that communicate with each other to maintain accurate information.

Difficulty

Difficulty - see Block Difficulty or Pool Difficulty. Further reading here.

Diffusion of Innovation

Diffusion of Innovation -  an adoption curve model/theory proposed by Everett Rogers, a highly-regarded American sociologist and communication theorist, which describes how new technologies are adopted over time within any given population.

Distributed Ledger

Distributed Ledger - the basis of blockchain technology, such as that used by Bitcoin, Monero and Safex. Each blockchain’s database is replicated, shared and synchronized by every one of their respective nodes, anywhere in the world. As each new block is found, the nodes communicate and disseminate the (block and transaction) information, ensuring all instances of the distributed ledger are in consensus.

Dividend Calculator

Dividend Calculator - an app or website interface that calculates Rev Share for entered parameters of total/individual Staked Tokens and GMV.

Dividends (Divs)

Dividends (Divs) - see Revenue Share.

Docker

Docker - a containerised platform service that allows software to be run. Is very useful to allow novice users to get a software package up and running with minimal technical knowledge. A Docker Safex Node, provided by Safex community member SafexNinja, can be found here.

Double Spend (Error)

Double Spend (Error) - an attempt to use/spend the same Cryptocurrency wallet input more than once. If a user receives a double spend error when creating a transaction, a Hard Rescan of their wallet should resolve the issue. Further reading here. See also Key Image.

Dust

Dust - any very small fractional piece of a divisible Cryptocurrency, as a standalone input/output. Further reading here.

Dutch Auction

Dutch Auction - a method of selling an offering, whereby the final price is determined after taking all bids and then making allocations from the highest bid, and moving down through the offered bids until the entire offering has been allocated. The original Safex Exchange Coin crowdsale was conducted using this format. Further Reading here. Dynamic Block Size - while some blockchains have a static block size (Eg. Bitcoin) that never changes, other cryptocurrencies allow the size of the blocks to change size, in order to better accommodate the amount of transactions needing to be processed (Eg. Safex, Monero). Further reading here.

E

Edit

Edit - a Safex Blockchain Transaction parameter that commits changes to any editable Safex Marketplace Transaction. Editable Transactions only exist with the Merchant-related functions of the Safex Blockchain, and include: Offers, Merchant Accounts. Note: Price Peg Transactions cannot be Edited, but the actual Price Pegs can be Updated.

Egalitarian

Egalitarian - a concept or system built on fair and equitable principles, that allows all people to have equal opportunity to access a particular thing. For the Safex Project, the emission curve for Safex Cash is designed in an egalitarian way, to ensure the bulk of the coins don't end up in the few wallets of the early adopters, but that even those arriving to the project late can gain their fair share of coins through mining. Further reading here.

Emission Curve

Emission Curve - the rate at which the coins of a cryptocurrency are released into circulation over time, usually by mining. Most cryptocurrencies use emission curves that give the largest rewards to the earliest adopters, resulting in a vast majority of the coins held by very few users. Safex blockchain uses an egalitarian S-Curve, which provides a fairer distribution of mining rewards over a much longer period of the project’s anticipated adoption curve. Further reading here.

Exchange Fee

Exchange Fee - the fee imposed by a cryptocurrency exchange when a Buy/Sell trade takes place, or a withdrawal request is processed. Further reading here.

Exchange Wallet

Exchange Wallet - a Wallet on a Cryptocurrency Exchange. Users don’t have access to the Private Keys of Exchange Wallets, meaning they don’t have actual control over the Wallet, or any coins in it. Best practice for use of Exchange Wallets dictates that users should only keep their coins in an Exchange Wallet if actively trading, and should otherwise move coins to their Private Wallet at their earliest convenience, to maintain control over their coins. See also Private Wallet.

F

Farm

Farm - see Mining Farm.

Faucet

Faucet - within cryptocurrency generally, it is traditionally a web interface that allows users to get free cryptocurrency sent to them. However, in terms of the Safex Project, it has been proposed that Safex Foundation will, at some point in the future, provide a Merchant Account Faucet, whereby users will be able to obtain a free Merchant Account without needing to own the 1,000 Safex Tokens required to create the account within their Wallet.

Fee

Fee - see Exchange Fee, Safex Marketplace Fee or Transaction Fee.

Feedback

Feedback - information provided by Shoppers that adds weight to a Merchant’s Reputation. For Safex Blockchain, the only way to provide Feedback is to use a Feedback Token received from a Purchase made on the Blockchain. This “Proof of Purchase” Feedback system helps reduce the ability of Merchant Reputation to be manipulated through the spamming of fake Feedback into the system, as every Feedback requires a Purchase be made first. Therefore, any manipulation of a Merchant’s Reputation can only occur with actual Purchases of the Merchant’s Listings. See also Reputation.

Feedback Comment

Feedback Comment - the textual, descriptive component of a Feedback Transaction provided by the Shopper on a product they Purchased.

Feedback Rating

Feedback Rating - at the blockchain level, it is a numeric rating, from 0 [Untrustworthy] through to 3 [Trusted]. Once implemented in the GUI Wallet, users may only see it as a 3-stars system.

Feedback Token

Feedback Token - every Purchase made on the Safex Marketplace generates a Feedback Token for the Shopper, allowing a subsequent Feedback Rating and Comment to be submitted against their Purchase using a Feedback Transaction. Feedback Tokens can only each be used once.

Feedback Transaction

Feedback Transaction - an advanced function of the Safex Blockchain, which allows Feedback to be provided by Shoppers for goods or services they have purchased. When a Feedback Transaction is processed, the corresponding Feedback Token is automatically Burned.

Fiat Currency

Fiat Currency - any national currency. Eg. USD, CAD, EUR, GBP, AUD, NZD, RSD, JPY, CHF, CNY.

Full Node

Full Node - increases the security and adds to the decentralization of a blockchain network by hosting a full copy of the blockchain. A Full Node participates in the validation of blocks and transactions, and in the Consensus mechanism of the Blockchain. It stays synchronized by communicating with other Node Peers that it's connected with on the Blockchain network. Further reading here.

G

GitHub

GitHub - a website that allows software developers to maintain Repositories for their projects. Projects can have multiple versions (Branches [and Commits]) saved, a section for software Releases that are available for download, and has a user interface that allows new/modified files to be added to/removed from the Repo. Here is the ongoing work being done on the Safex Project.

GMV

GMV (Gross Marketplace Volume) - the monetary value equivalent of the annual amount of goods and services traded on the Safex Marketplace.

GUI Wallet

GUI (Graphical User Interface) Wallet - an easy-to-use Wallet comprising various visual graphics and images, buttons and input fields that make it easy to use, in comparison to a CLI Wallet. The Safex TWM Wallet is an example of a GUI Wallet. Further reading here. See also TWM Wallet and CLI Wallet.

H

Hardfork

Hardfork - in its use related to Cryptocurrency, it is a significant software update to a Blockchain protocol, which renders previous versions of the Blockchain software obsolete. Only Nodes running the latest Hardfork protocol can process Transactions and find Blocks.

Hashrate

Hashrate - refers to a numeric value that represents the number of calculations performed within a certain timeframe. Normal usage is to measure by hashes per second (H/s) but may also be represented by larger orders of magnitude, such as kH/s or MH/s. See also Pool Hashrate, Network Hashrate, Miner/Mining Hashrate.

History

History - A section tab in the TWM Wallet, where users can find their Transaction History. See also Transaction History.

I

Input

Input - refers to any coin Outputs from a Wallet that get Input into a Transaction. Further reading here. The Key Image for each spent Output is recorded on a list maintained by the Blockchain Nodes, to ensure the Output can’t be used to Double Spend in the future. Further reading here. See also Output.

Interval

Interval - see Block Interval.

J

JSON RPC Interface

JSON RPC Interface - see RPC Node and RPC Wallet.

K

Key Image

Key Image - the method CryptoNote uses to ensure coins in a wallet can only be spent once. Each Output is assigned a Key Image, so that when it subsequently gets spent, the blockchain can record the spending and ensure it can’t be used to Double Spend in the future. Further reading here.

KYC

KYC (Know Your Customer) - Is part of the AML/KYC regulatory requirements imposed on financial institutions, and increasingly, on Cryptocurrency Exchanges operating within jurisdictions that have such regulatory requirements. KYC on Crypto Exchanges often has a tiered system in place, where you need to provide increasingly detailed identity information about yourself, depending upon various maximum daily withdrawal limit options. The higher the limit, the higher the level of KYC. See also AML.

L

Ledger

Ledger - see Distributed Ledger.

Listings

Listings - see Offers.

Lock

Lock - See Token Lock.

M

Mainnet

Mainnet - is the live production environment for a specific software instance, such as a blockchain. For the Safex Blockchain, mainnet public addresses begin with the prefix Safex. When you buy or sell coins on Exchanges, purchase goods or services on the Safex Marketplace, Stake SFT, etc. it is all occurring on the mainnet version of the Safex Blockchain. Only the coins on the mainnet version of the Safex Blockchain are of any value. See also Stagenet, Testnet.

Marketplace

Marketplace - See Safex Marketplace.

Maximum Staking Eligibility Limit

Maximum Staking Eligibility Limit - the longest amount of time, measured in Blocks, that an individual Staked amount of Safex Tokens are eligible to earn Rev Share. After 500000 blocks have elapsed, the Safex Token no longer earn additional Rev Share. Further reading here.

Merchant

Merchant - a person or business selling their goods or services.

Merchant Account

Merchant Account - an account created on the Safex Blockchain, which allows the user to list goods and services for sale on the Safex Marketplace. Further reading here.

Merchant Account Key

Merchant Account Key - an alphanumeric Key specific to the created Merchant Account, which allows it to be Restored to a Wallet Address. This Key should be backed up as soon as a Merchant Account is created, and be included in any subsequent Backup procedures you have in place for your Safex Wallet information.

Migration

Migration - within Cryptocurrency, it refers to the transition from one coin to another. Normally, an initial coin for a project is only a Placeholder Token, issued on a third-party Blockchain. As the project develops and launches its own Blockchain, holders of the original coin need to have their Placeholder Tokens replaced with coins for the new blockchain. For the Safex Project, the Migration process was triggered by the Mainnet launch of the Safex Blockchain in 2018.

Migration Wallet

Migration Wallet - a software Wallet specifically designed to facilitate a Migration process.

Migration Window

Migration Window - the period of time allocated for a Migration to be completed. For the Safex Project, the Migration Window was open from 6 November 2018 until 30 November 2019. Further reading here.

Miner/Mining Hashrate

Miner/Mining Hashrate - the Hashrate of a Mining Rig or Mining Farm. The Hashrate may fluctuate, depending on ambient temperatures and/or other compute loads (eg. operating system processes) placed on the mining equipment.

Mining

Mining - the process of finding the winning Hash that solves for the next Block of a particular Blockchain and earn the corresponding Cryptocurrency Block Reward. Mining uses various computer hardware components (CPU/GPU), either alone or in combination, or can be dedicated mining equipment (ASIC/FPGA). Some Cryptocurrency Mining algorithms favor certain types of equipment. Safex Blockchain uses the RandomSFX algorithm, which was specifically chosen because it favors regular CPUs over GPUs and other expensive dedicated equipment. This allows regular people with home PCs to participate fairly in the Mining of Safex Cash. Further reading here.

Mining Farm

Mining Farm - a collection of multiple Mining Rigs used to mine a Cryptocurrency.

Mining Pool

Mining Pool - a software suite that includes a web interface, RPC Node, and dedicated pool management software, which allows Miners to work together in an effort to find Blocks, and subsequently share in the Block Rewards collectively. For Safex, there are several mining pools to choose from, and Miners have the option of using Xmrig, SFXOS, or the 1-click miner software to perform their Mining. Further reading here.

Mining Rig

Mining Rig - a standalone amalgamation of computer equipment, or a purpose-built piece of dedicated hardware, used to mine cryptocurrency. A Mining Rig can be as simple as a regular home PC, a customized PC that runs multiple GPUs, or purpose-built pieces of hardware that have been built to mine one or more specific cryptocurrencies (ASIC), or can be programmed that way (FPGAs). A Home PC is all that’s needed to mine Safex Cash. Further reading here.

Mixin

Mixin - see Ring Size.

Mining Profitability

Mining Profitability - each Proof-of-Work cryptocurrency requires energy (electricity) to produce Hashes and find Blocks/process Transactions. In return, Miners receive Block Rewards in return for their Mining efforts. Depending upon the electricity costs, lifetime equipment costs per Hash, Network Hashrate and Spot Price for the individual Cryptocurrency being Mined, a calculation can be performed to establish the economics of Mining that Cryptocurrency. Further reading here.

Mining Proxy

Mining Proxy - see Xmrig-Proxy.

Mnemonic Phrase

Mnemonic Phrase - see Mnemonic Seed Phrase.

Mnemonic Seed Phrase

Mnemonic Seed Phrase - a series of words created by your wallet which corresponds to your Private Keys, and allows you to recover your wallet, if required. For Safex, the Mnemonic Seed Phrase is 25 words (24 + a Checksum word), but for other crypto coins, it can be as few as 12 words. A series of words is much easier to read and record for the human brain than a long alphanumeric string, as used in Private Keys, which makes the words in the phrase much less prone to be written down incorrectly. The words then simply need to be regurgitated in the correct order to Restore your Wallet. Technically speaking, the seed words actually generate your Private Keys, which in turn gets used to restore your wallet, but this all happens in the background when you Restore your Wallet from a Seed Phrase. Further reading here.

N

Network Hashrate

Network Hashrate - an interpretation of the current Block Difficulty, which shows the approximate global hashrate needed to find the next block at a 2-minute block time, based on mathematical probabilities.

Node

Node - is a functional part of a Decentralized Peer-to-Peer Blockchain network. Ideally, it is configured to be a Full Node, and can be public or private, depending on the commands used to launch it. A node can also be limited in its accessibility by clients (eg. Wallet software) and the way it interacts with other Nodes, depending on its start parameters and network’s port settings. The default number of Peer connections for a Safex Blockchain Node is 8 (8 IN & 8 OUT), but can be adjusted through the use of specific commands. Some Blockchains also have other Node types, such as pruned nodes, light nodes, and authority nodes. See also Daemon Host, RPC Node and Full Node. Further reading here.

O

Obfuscation

Obfuscation - deliberately masking something to protect identifying information, by using technology and/or other information to reduce clarity and ease of detection. With Safex Blockchain, Transaction Wallet Address identities are Obfuscated through the use of Ring Signatures and Stealth Addresses.

Offers

Offer - any product or service offered for sale on the Safex Marketplace, which has been created with a Create Offer Transaction.

OfferID

OfferID - a Hash that corresponds to a specific Safex Marketplace Offer, which gets assigned when the Create Offer Transaction gets processed by the Blockchain.

Omni Token

Omni Token - The original Placeholder Token for the Safex Project, Safe Exchange Coin, was an Omni Token launched on the Omni layer protocol, which operates as a secondary layer on Bitcoin.

One-Time Address

One-Time Address - see Stealth Address.

Open-source

Open-source - software that has its source code publicly available for inspection, and which is freely available for others to use, modify and/or enhance for their own purposes.

Oracle

Oracle - see Price Oracle.

Orphaned Blocks

Orphaned Block - a block rejected via the consensus protocol. When the same new block gets found virtually simultaneously by two different nodes on the network, the network must then autonomously determine which of the found blocks gets written to the blockchain and earns the block reward. The losing block becomes the orphaned block and no reward is earned for it. Further reading towards the end of here.

Output

Output - the way the CryptoNote protocol, which Safex Blockchain is based on, keeps track of all coin movements made during transactions. Further reading here. Each Output is assigned a Key Image, so that when it subsequently gets spent, the blockchain can record the spending and ensure it can’t be used to Double Spend in the future. Further reading here. See also Input.

P

Paper Wallet

Paper Wallet - a piece of paper upon which is written (handwritten or printed) the Wallet Address, Privates Keys and/or Mnemonic Seed Phrase for that Address.

Peer

Peer (as in Node Peer) - a Node on a Blockchain network which maintains an active connection to another Node, to relay Blockchain information. A Node can have both OUT Peers (the Node initiates connections with other Nodes) and IN Peers (other Nodes initiate the connection).

P2P

P2P (Peer-to-Peer) - the direct exchange of information without the need for a third-party, such as a person sending Cryptocurrency directly from their private wallet (not an exchange wallet) to another person’s private wallet.

P2P Network

P2P Network - a computer network where each entity in the network makes direct connections to other computers, and functions as both a server and a client, sharing and sourcing information, as needed, to maintain a database (Distributed Ledger - Blockchain). Each Node on the Safex Blockchain uses P2P Network protocols to communicate with other Nodes, and can also provide a P2P connection point for Wallet software.

Peg

Peg - see Price Peg.

Pending

1) when a Transaction is first initiated from a Wallet, it is considered Pending until processed onto a Block. During this time, it waits to be processed in the Transaction Pool.

2) when a Transaction gets processed by the Blockchain (gets written to a Block), there’s a subsequent period of 10 Blocks, during which time the completed incoming Transaction will show as Pending in the Wallet, before the coins become part of the Available Balance. It also applies to any “change” being returned to your Wallet from an outgoing Transaction. The 10-Block Pending procedure applies to all simple and advanced transactions on Safex Blockchain. Further reading here.

PGP Key

PGP (Pretty Good Privacy) Key - an encryption key that allows private communication over the internet, by encrypting data that can only be unencrypted with a corresponding key pair. The TWM Wallet merchant-buyer messaging system utilizes PGP Key pairs (RSA4096) for each item purchased, to allow for direct and private communications between the two parties, thus helping to protect the privacy of wallet users by ensuring nobody else can access the communications.

Placeholder Token

Placeholder Token - a Token issued by a startup crypto project, which is scheduled to be replaced by the native coin of the project, once its Mainnet Blockchain is launched. For Safex Blockchain, the Safe Exchange Coin (Omni Token) was the Placeholder Token, and it was replaced with Safex Token via the Migration process.

Pool

Pool - see Mining Pool or Safex Commission Pool.

Pool Difficulty

Pool Difficulty - a difficulty factor applied to jobs sent to Mining Rigs, to allow Mining Pools to estimate the hashrates of Miners. Further reading here.

Pool Hashrate

Pool Hashrate - the total hashrate of all the Mining effort pointed towards a Mining Pool.

Price Peg

Price Peg - a Safex Blockchain advanced function that allows a Price Oracle to set (and update) fixed conversion prices with other currencies, which allows products on Safex Market to be displayed and sold for set fiat currency amounts, where the Safex Cash amount varies, depending upon its trading price.

Price Oracle

Price Oracle - a software program that uses the trading price of a crypto coin, in this case, Safex Cash, and pegs the price against one or more other currencies, such as USD, CAD, GBP, EUR, AUD. Each currency has its own Price Peg.

Privacy

Privacy - the ability of an individual to keep their personal information to themselves, and to have control over if/when any information gets shared, published, or disseminated to others.

Privacy Blockchain

Privacy Blockchain - a Blockchain that - by design - allows its users to maintain a level of privacy over their Wallet contents, and any Transactions they make. Further reading here.

Privacy Coin

Privacy Coin - any Currency or Token of a Privacy Blockchain. Further reading here.

Private Key/s

Private Key/s - can also be referred to as your secret (sec) key/s. Private Keys sign Transactions and decrypt Transaction data. For Safex Blockchain, you have two Private Keys: Private Spend Key and Private View Key. NEVER SHARE YOUR PRIVATE KEYS. Further reading here.

Private Spend Key

Private Spend Key - explained here.

Private View Key

Private View Key - explained here.

Private Wallet

Private Wallet - a Cryptocurrency Wallet that you hold the Private Keys and Mnemonic Seed Phrase for. A Private Wallet gives you total control over the coin movements from that Wallet. There are no KYC requirements to use a Private Wallet. Remember: Not Your Keys, Not Your Coins. See also Exchange Wallet.

Priority

Priority - see Transaction Priority.

Proof-of-Work (PoW)

Proof-of-Work (PoW) - a method of mining cryptocurrency. Is the method used by Safex Blockchain. Further reading here.

Proxy

Proxy - see Xmrig-Proxy.

Public Address

Public Address - see Safex Wallet Address.

Public Key/s

Public Key/s - Public Keys verify signatures and encrypt transaction data. Further reading here.

Public Spend Key

Public Spend Key - explained here.

Public View Key

Public View Key - explained here.

Q

R

RandomSFX

RandomSFX - the hashing algorithm used by Safex Blockchain, modified from RandomX. Further reading here.

RandomX

RandomX - a hashing algorithm that is most efficient using CPUs. RandomX is used by Monero cryptocurrency. Safex Project created a variant or RandomX - RandomSFX - for use in mining on the Safex Blockchain. See also RandomSFX.

Receive

Receive - any incoming Transaction of Cryptocurrency to your Wallet Address.

Receiving Address

Receiving Address - a field found in the Safex TWM Wallet, where the Wallet Address is entered for the intended recipient of coins you wish to Send them.

Recover

Recover - see Restore.

Register API

Register API - a function found in the Merchant section of the Safex TWM Wallet, which allows Merchants to initiate registration of their Merchant Account with the TWM-API.

Repository (Repo)

Repository (Repo) - a collection of files related to a software project, as can be found on GitHub.

Reputation

Reputation - A trust classification assigned to each Merchant, based on their accumulated Feedback Ratings. Prospective Shoppers can use the Merchant’s Reputation to determine if they are sufficiently trustworthy to make a Purchase.

Restore

1) the method of importing your Blockchain Wallet Address into a software Wallet, such as the CLI Wallet or TWM Wallet. Users can choose to Restore via their Private Keys or Mnemonic Seed Phrase. Further reading here and here.

2) the method of importing your pre-existing Merchant Account into your Wallet Address, using the corresponding Merchant Account Key. This function is used in the case where you have Restored your Safex Wallet via Seed/Keys and need to reattach your Merchant Account. Can also be used to import the Merchant Account into a different Wallet Address.

Revenue Share

Revenue (Rev) Share - the passive income earned from a pro rata share of the Safex Commission Pool, by all eligible Staked Safex Tokens. Further reading here and here.

Rig

Rig - see Mining Rig.

Ring Size

Ring Size (also referred to as Mixins) - the degree of Obfuscation applied to a transaction. Relaters to the number of Ring Signatures included in the transaction. Further reading here.

Ring Signature

Ring Signature - a method of Obfuscating Transaction origins and destinations, used by Privacy Blockchains that are based on the CryptoNote protocol, in conjunctions with Stealth Addresses. Further reading here.

RPC Node

RPC Node - a Safex Daemon (safexd) operating as an RPC Node allows for remote calls via its JSON RPC Interface, and also has other RPC calls that can be made directly from the interface window. RPC Nodes can also allow remote connection by clients (Wallets). A list of the RPC calls can be found here.

RPC Wallet

RPC Wallet - similar to a CLI Wallet in that there’s no GUI display, but a more advanced stand-alone Wallet program. The RPC Wallet allows JSON RPC calls. The RPC Wallet is designed for advanced use, such as by Mining Pool operators and Cryptocurrency Exchanges. A list of the RPC calls can be found here.

S

S-curve

S-curve - the innovative shape of the Emission Curve for Safex Cash. Further reading here.

Safe Exchange Coin

Safe Exchange Coin - the initial Placeholder Token of the Safex Project, issued in early 2016 on the Omni layer of the Bitcoin protocol.

Safex Address

Safex Address - see Safex Wallet Address.

Safex Blockchain

Safex Blockchain - the Proof-of-Work eCommerce Blockchain. It was forked from Monero and enhanced to function as a Decentralized Privacy Marketplace, with Passive Income capabilities. Safex Blockchain comprises two coins: Safex Cash and Safex Token. Further reading here.

Safex Blog

Safex Blog - a library of Safex-produced articles published to help explain the various elements of the Safex Project. Safex Blog articles are listed chronologically, and many of those same articles have also been categorized by subject matter for the Safex Knowledge Base.

Safex Cash (SFX)

Safex Cash (SFX) - the Currency powering the Safex Blockchain. Further reading here.

Safex Commission Pool

Safex Commission Pool - The pool of Safex Cash that accrues every 1,000 Blocks from the 5% Commission applied to each Listing sale. At the end of each 1,000-Block Interval, the accrued Safex Cash is allocated as Rev Share to all eligible Staked Safex Tokens. Further reading here.

Safex Dictionary

Safex Dictionary - the document you are currently reading.

Safex Forum

Safex Forum - the online discussion Forum of the Safex Project. The best place to post a question you need answering about Safex, if you haven’t been able to find the answer within the Safex Knowledge Base/Blog.

Safex Foundation

Safex Foundation - a not-for-profit entity established in Wyoming, USA, to support and develop the Safex Marketplace. Further reading here.

Safex Full Node / Safex Node

Safex Full Node / Safex Node - see Full Node, Node and Safexd.

Safex Keys

Safex Keys - Safex Wallet Addresses have 4 associated Keys. See also Private Key/s and Public Key/s. Further reading here.

Safex Knowledge Base

Safex Knowledge Base - see Safex Blog.

Safex Market

Safex Market - the poster-child example of how the Open-Source Safex Blockchain ecosystem can be used to create a commercially viable eCommerce enterprise. Launched by TWM Inc, the Safex TWM Wallet is the GUI Wallet released to interface with the Safex Market.

Safex Marketplace

Safex Marketplace - the full eCommerce suite of advanced functions on the Safex Blockchain. Further reading here.

Safex Marketplace Fee

Safex Marketplace Fee - a 5% fee deducted from each sale, which is added to the Safex Commision Pool and distributed as Revenue Share to Staked Tokens. Further reading here.

Safex Token (SFT)

Safex Token (SFT) - the Utility Token of the Safex Blockchain. Further reading here.

Safex Token Lock

Safex Token Lock - a varying period of time that Safex Tokens are locked (inaccessible) for, depending on the specific Utility Token function being performed. Safex Tokens are Locked for 8,000 blocks when newly Staked; and for 22,000 blocks when used to create a Merchant Account. Further reading here and here.

Safex TWM Wallet

Safex TWM Wallet - see TWM Wallet.

Safex Wallet Address

Safex Wallet Address - this is your Public Address. If people need to send you SFT/SFX, this is the Address you give them. It starts with the prefix Safex. Any time you create a new Safex Wallet Address, you should immediately Backup the Address, Seed and Keys. Further reading here.

Safexd

Safexd - Safex Daemon / Node software specific to the Safex Blockchain. See also Full Node, Node.

Seed Phrase

Seed Phrase - see Mnemonic Seed Phrase.

Send

Send - any outgoing transaction of a Cryptocurrency from your Wallet Address, initiated by you.

SFXOS

SFXOS - a custom Operating System (from Linux) with built-in Safex Cash Miner (Xmrig).

Shopper

Shopper - any user of the Safex Marketplace who makes a Purchase.

Simple Transaction

Simple Transaction - any Send transaction for either Safex Tokens and Safex Cash, to another Wallet Address.

Solo Mining - Crypto Mining by yourself, rather than pointing your Mining Rigs to a shared Mining Pool. Solo Mining can be performed via the Safexd Daemon with the appropriate CLI command, or advanced users can configure their Mining Rigs to Solo Mine to a Node, or even to a Mining Pool that allows Solo Mining.

Spend Keys

Spend Keys - explained here.

Spot Price

Spot Price - the current trading price. Can refer to a Cryptocurrency trading on a Crypto Exchange or a Price Pegged Offer on Safex Marketplace.

Stagenet

Stagenet - the staging (pre-release) environment for a specific software instance, such as a blockchain. For the Safex Blockchain, stagenet public addresses begin with the prefix SFXs. Coins on the stagenet instance of the Safex blockchain have no real-world value, and are simply used for testing purposes during software development. See also Mainnet, Testnet.

Stake/Staking

Stake/Staking - see Staked Safex Tokens.

Staking Table

Staking Table - a section of the Token page within the Safex TWM Wallet, which displays all Stakings for the Wallet Address. Further reading here.

Staked Safex Tokens

Staked Safex Tokens - a parcel of 25,000+ Safex Tokens that have been subjected to a Stake Transaction. Staked Tokens become eligible to earn Rev Share. Further reading here and here.

Staking Eligibility

Staking Eligibility - the parameters under which Staked Safex Token are deemed eligible to receive Rev Share from the Safex Commission Pool. Further reading here.

Stealth Address

Stealth Address (also referred to as a one-time address)- an address created during transaction formation for use only in that single transaction. It is an obfuscation method employed by privacy blockchains such as Safex, Monero, and others. Further reading here.

Sweep Unmixables

Sweep Unmixables - a Safex Blockchain function that allows Dust to be reconfigured into usable Outputs.

T

Testnet

Testnet - the testing environment for a specific software instance, such as a blockchain. For the Safex Blockchain, testnet public addresses begin with the prefix SFXt. Coins on the testnet instance of the Safex blockchain have no real-world value, and are simply used for testing purposes during software development. See also Mainnet, Stagenet.

Todorovic, Ivana

Ivana Todorovic is a Chief Economist at Safex. Find her on Twitter.

Token Lock

Token Lock - see Safex Token Lock.

Top Block

Top Block - the most recent block of a blockchain. The Top Block has the highest Block Height at the time of query.

Trading Pair

Trading Pair - a pair of digital assets (Cryptocurrency/Fiat Currency) that can be traded one for the other on a Crypto Exchange.

Transaction

Transaction - commonly abbreviated to Tx, for most crypto coins it simply refers to any coin movement written to the Blockchain, and maybe other simply data like wallet signatures. For Safex Blockchain , it also includes all advanced function Transactions (Eg. Stake, Unstake, Offer Listing, Purchase, Price Peg create/update, Merchant Account create/edit, Feedback) on the blockchain that results in data being recorded to the Blockchain database, and may or may not include coin movements or Locks. Every Transaction requires the payment of a Transaction Fee to Miners in return for processing the request.

Transaction Fee

Transaction Fee - the cost paid to miners to have a transaction processed on the blockchain. Further reading here.

Transaction Hash

Transaction Hash - an alphanumeric string generated to uniquely identify a particular Transaction. Further reading here.

Transaction History

Transaction History - a chronological listing of all Transactions associated with a Wallet address, both incoming and outgoing.

Transaction Priority

Transaction Priority - a Transaction command parameter that allows users to pay a higher Transaction Fee, with the intention of expediting the processing of the transaction. Further reading here.

TWM Inc.

TWM Inc. - a commercial entity that is using the open-source Safex Blockchain as the basis for an eCommerce platform. Further reading here.

TWM Wallet

TWM Wallet - The Safex TWM Wallet is a GUI wallet and includes a secondary API layer to display the Safex Market, where you can buy goods and services directly from Merchants, and communicate with them privately and directly via encrypted P2P, using chat channels established with a PGP Key. Further reading here.

U

Unable to Connect to Safex Blockchain Network

Unable to Connect to Safex Blockchain Network - a connection error users of the Safex TWM Wallet will see if the Wallet is unable to connect to the nominated Daemon Host.

Unstake/Unstaking

Unstake/Unstaking - the Transaction made to claim Rev Share into your Wallet Address, which has been Accruing against a Staked parcel of Safex Tokens. Further reading here.

Utility Token

Utility Token - a Cryptocurrency that has Blockchain Utility Functions as opposed to being purely a medium of exchange. The Utility Token for Safex Blockchain is the Safex Token, which has the following utility roles: Merchant Account creation, and Staking/Unstaking.

V

View Keys

View Keys - explained here.

W

Wallet

Wallet - a blockchain software interface that allows users to create, Restore and interact with a Wallet Address. For Safex Blockchain, the Wallet software can do simple Sends of Safex Cash and Safex Tokens, but also includes advanced functionality for Safex Marketplace use, and Staking/Unstaking for Rev Share. Further reading here.

Wallet Address

Wallet Address - see Safex Wallet Address.

Whitepaper

Whitepaper - a document that explains the goals and philosophy of a crypto project, usually written prior to a crowdsale or other fundraising event. The original Safex Whitepaper was published in November 2015, just prior to the December 2015 crowdsale. Further reading here. See also Bluepaper.

Wrapped Coin

Wrapped Coin - explained here.

Wrapped Safex Cash (WSFX)

Wrapped Safex Cash (WSFX) - a BEP20 Token on the Binance Blockchain (BSC) which has a 1:1 swap value with Safex Cash. Further reading here.

X

Xcalibra

Xcalibra - a Crypto Exchange focussed on providing Trading Pairs for Safex Tokens and Safex Cash. Visit Xcalibra.com for more information.

Xmrig

Xmrig - software used to mine Monero cryptocurrency, but also used for other privacy coins, such as Safex Cash, which uses the same CryptoNote codebase.

Xmrig-Proxy

Xmrig-Proxy - software used to reduce load on mining pools and networks. Also obfuscates the number of mining rigs in the miner’s farm.

Y

Z