Algorithm

Algorithm

An algorithm is a very broad concept. Perhaps best described as instructions for a computer to achieve a certain goal. These instructions can be very extensive and complex, such as the algorithm with which social media applications target advertisements to the right people. Bitcoin also works using algorithms. SHA-256 algorithm for encryption and Proof of Work for security.

Discover more terms

Related Cryptopedia

Seed phrase

A seed phrase is a collection of 12 or 24 words that...

51% attack

A 51% attack is a scenario in which 50% of the nodes within a blockchain network are...

Black swan event

A black swan event refers to an unpredictable event that...

Pre-sale

A pre-sale token is a token that is not yet available through...

Liquidity

In the crypto context, liquidity means the...

BRC-20

This term is used for the token standard that has been agreed upon for tokens deployed on the Bitcoin blockchain.

Related blogs

19 - 04 - 24 Knaken

The Bitcoin Halving: A Guide for Beginners

Discover the basics of Bitcoin halving and its effect on the market with our simple guide. Learn what it is, why it happens, and its historical impact on Bitcoin's price.

16 - 04 - 24 Knaken

KNAKEN AND OARO ANNOUNCE STRATEGIC PARTNERSHIP TO REVOLUTIONIZE STADIUM ACCESS

Discover how Knaken's collaboration with OARO utilizes cutting-edge crypto and identification technologies to revolutionize stadium safety and accessibility, promising a new era in sports and entertainment experiences. Join us in shaping the future of event access.

Cryptopedia: Algorithm