Bitcoin Glossary – Terminology and Definitions

It is a quick reference to the most important Bitcoin terminology. Please check any term to reveal the definition.

Bitcoin Glossary

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There are currently 3 names in this directory beginning with the letter M.
M of N
The number of cosigners that must provide signatures (M) out of the total number of cosigners (N) in order for a multi-signature bitcoin transaction to take place. A common M of N value is "2 of 3" meaning two of the three cosigners' signatures are required.
Miner
A computer or group of computers that add new transactions to blocks and verify blocks created by other miners. Miners collect transaction fees and are rewarded with new bitcoins for their services.
Multi-Signature
Also called multisig. A bitcoin transaction that requires signatures from multiple parties before it can be executed.


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