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Glossary

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Paper trading

Paper trading is a simulated trading process where individuals practice buying and selling financial instruments without using real money. This method allows traders to test their strategies and gain experience in the market without risking their capital. It is commonly used by beginners to learn the ropes and by experienced traders to refine their techniques.

Paper Wallet

A paper wallet is a physical document containing a cryptocurrency address and its corresponding private key, often in the form of QR codes, used for secure offline storage.

Parachain

A parachain is a specialized blockchain that operates parallel to other blockchains within the Polkadot or Kusama network. Designed to achieve specific tasks or functions, parachains benefit from the shared security, scalability, and interoperability provided by the overarching relay chain. This allows them to communicate seamlessly with other parachains and external networks, enhancing the overall ecosystem's efficiency and capability.

Paul Le Roux

Paul Le Roux is a former programmer and criminal mastermind known for creating an online prescription drug network and engaging in various illegal activities, including arms trafficking and money laundering.

Payee

A payee is an individual or entity that receives a payment. In financial transactions, the payee is the party to whom money is being paid, whether through cash, check, electronic transfer, or other means. The payee's details are typically specified in payment instructions to ensure the funds are directed correctly.

Payment Gateway

A payment gateway is a technology used by merchants to accept debit or credit card purchases from customers. It acts as an intermediary between the merchant's website and the financial institutions involved in the transaction, securely transmitting payment information for authorization and settlement.

Payment Orchestration

Payment orchestration refers to the process of managing and optimizing the entire payment lifecycle through a single, unified platform. It involves coordinating various payment service providers, gateways, and methods to streamline transactions, enhance security, and improve the overall efficiency of payment processing.

Payment Processor

A payment processor is a company or service that handles transactions between merchants and customers, facilitating the transfer of funds during the purchase of goods or services. It acts as an intermediary, ensuring secure and efficient processing of credit card, debit card, and other electronic payments.

Payment Reference

A Payment Reference is a unique identifier or code used to specify and track a particular transaction. It helps both the payer and the recipient to identify the payment details, ensuring that the funds are correctly allocated and recorded. Payment references are commonly used in banking, invoicing, and online transactions to facilitate clear communication and efficient financial management.

Payment Routing

Payment routing refers to the process of directing a financial transaction through a network of banks, payment processors, and other financial institutions to ensure that funds are transferred from the payer to the payee efficiently and securely.

Payment Service Provider (PSP)

A Payment Service Provider (PSP) is a third-party company that facilitates online transactions between merchants and customers. PSPs offer a range of services, including payment processing, fraud protection, and secure data handling, enabling businesses to accept various payment methods such as credit cards, digital wallets, and bank transfers.

Payment Services Directive 2 (Psd2)

Open Banking PSD2 (Payment Services Directive 2) is a European regulation that aims to enhance innovation and competition in the financial services sector. It requires banks to open their payment services and customer data to third-party providers through secure APIs, with customer consent.

PCI Compliance

PCI Compliance refers to the adherence to the Payment Card Industry Data Security Standard (PCI DSS), a set of security standards designed to ensure that all companies that accept, process, store, or transmit credit card information maintain a secure environment. Established by major credit card companies, PCI DSS aims to protect cardholder data and reduce credit card fraud through a comprehensive framework that includes requirements for security management, policies, procedures, network architecture, and software design. Compliance with these standards is crucial for businesses to safeguard sensitive financial information and maintain customer trust.

Peer-to-peer lending

Peer-to-peer lending (P2P lending) is a financial technology platform that connects individual borrowers with individual lenders, bypassing traditional financial institutions like banks. This system allows borrowers to obtain loans directly from other individuals, often at competitive interest rates, while providing lenders with the opportunity to earn higher returns on their investments compared to conventional savings or investment products. P2P lending platforms facilitate these transactions by assessing credit risk, setting interest rates, and managing loan repayments, making the process efficient and accessible for both parties.

Peer to peer (p2p)

Peer-to-peer (P2P) refers to a decentralized network model where each participant, or "peer," has equal privileges and can act as both a client and a server. This architecture allows for direct sharing of resources, such as files or data, without the need for a central server.

Pegged currency

A pegged currency is a type of currency whose value is directly tied or fixed to another currency, a basket of currencies, or a measure of value, such as gold.

Pending Balance

Pending Balance refers to the amount of money in an account that is awaiting clearance or finalization. This balance includes transactions that have been initiated but not yet fully processed by the financial institution, such as deposits, withdrawals, or transfers. Once these transactions are completed, the pending balance will be updated to reflect the actual available funds in the account.

Permissionless

"Permissionless" refers to a system or network that allows anyone to participate without needing approval or authorization from a central authority. In the context of blockchain and decentralized technologies, a permissionless network enables users to join, validate transactions, and contribute to the system's operations freely, promoting openness, inclusivity, and decentralization. This characteristic is fundamental to many cryptocurrencies and decentralized applications, fostering innovation and reducing barriers to entry.

Perpetual contracts

Perpetual contracts are a type of derivative in the financial markets that do not have an expiration date. Unlike traditional futures contracts, which have a set expiry, perpetual contracts allow traders to hold positions indefinitely. They are commonly used in cryptocurrency trading and are designed to closely track the underlying asset's price through mechanisms like funding rates, which are periodic payments between long and short positions. This structure provides flexibility and continuous exposure to the asset without the need to roll over contracts.

Perpetual futures

Perpetual futures are a type of financial derivative that allows traders to speculate on the price movement of an underlying asset without an expiration date. Unlike traditional futures contracts, perpetual futures do not have a set settlement date, enabling traders to hold their positions indefinitely.

Phone phishing

Phone phishing, also known as vishing (voice phishing), is a type of scam where fraudsters use phone calls to deceive individuals into revealing sensitive information such as personal identification numbers (PINs), passwords, credit card details, or other confidential data.

Physical Bitcoins

Physical Bitcoins are tangible representations of digital cryptocurrency, typically made of metal, with a unique private key hidden under a tamper-evident seal.

Play2earn

Play2Earn is a gaming model that allows players to earn real-world value through in-game activities. By participating in these games, players can acquire digital assets, such as cryptocurrencies or NFTs, which can be traded or sold for real money. This model leverages blockchain technology to ensure transparency and security, offering gamers a new way to monetize their skills and time spent in virtual environments.

Ponzi scheme

A Ponzi scheme is a fraudulent investment scam that promises high returns with little risk to investors. It generates returns for earlier investors using the capital from newer investors, rather than from profit earned by the operation of a legitimate business.

Portfolio management

Portfolio management is the strategic process of selecting, overseeing, and optimizing a collection of investments to achieve specific financial goals. It involves balancing risk and return, diversifying assets, and making informed decisions based on market conditions and individual objectives. Effective portfolio management aims to maximize returns while minimizing risk, ensuring that the investment portfolio aligns with the investor's risk tolerance, time horizon, and financial aspirations.

Position Size

Position size refers to the amount of a particular asset or security that an investor or trader decides to buy or sell in a single transaction. It is a crucial aspect of risk management, as it helps determine the potential impact of a trade on the overall portfolio. Properly calculating position size can help mitigate losses and optimize gains by aligning the trade with the investor's risk tolerance and investment strategy.

Prediction Market

A Prediction Market is a speculative exchange where participants trade contracts based on the outcomes of future events. These markets leverage collective intelligence to forecast events such as election results, economic trends, or sports outcomes. By buying and selling shares that represent different possible outcomes, participants effectively set odds that reflect the probability of each event occurring. The aggregated data from these trades often provides highly accurate predictions, as it incorporates diverse perspectives and information.

Prepaid Card

A prepaid card is a payment card that is pre-loaded with a specific amount of money, allowing users to make purchases or withdraw cash up to the card's balance. Unlike credit or debit cards, prepaid cards are not linked to a bank account or credit line, making them a convenient and secure option for budgeting, gifting, or managing expenses without the risk of overspending.

Pre sale

Pre-sale refers to the period before a product or service is officially available for purchase by the general public. During this time, potential customers can often place orders or reservations in advance, sometimes at a discounted price or with exclusive benefits.

Private Blockchain

A private blockchain is a type of blockchain network that restricts access to authorized participants, ensuring enhanced privacy and control over data and transactions.

Procedural Programming

Procedural Programming is a programming paradigm based on the concept of procedure calls, where statements are structured into procedures or functions.

Processing Currency

Processing currency refers to the series of actions and systems involved in handling, verifying, and managing money transactions. This can include the conversion of one currency to another, the validation of currency authenticity, and the facilitation of electronic payments.

Processing Time

Processing time refers to the duration required to complete a specific task or operation within a system or process. It is a critical metric in various fields, including manufacturing, computing, and service industries, as it impacts efficiency, productivity, and overall performance. Reducing processing time can lead to faster service delivery, cost savings, and improved customer satisfaction.

Profit and loss statement

A Profit and Loss Statement, also known as an income statement, is a financial document that summarizes the revenues, costs, and expenses incurred during a specific period, typically a fiscal quarter or year.

Programmability

Programmability refers to the ability of a device, system, or software to be programmed or configured to perform specific tasks or functions according to user-defined instructions or code.

Proof of Address (PoA)

Proof of Address (PoA) is a document or set of documents used to verify an individual's residential address. It is commonly required by financial institutions, government agencies, and other organizations to confirm a person's place of residence for identity verification purposes. Typical documents that serve as proof of address include utility bills, bank statements, rental agreements, or official government correspondence, all of which must display the individual's name and current address.

PSP Integration

PSP Integration refers to the process of incorporating a Payment Service Provider (PSP) into a business's online platform or system. This integration enables the business to accept and process various forms of electronic payments, such as credit cards, digital wallets, and bank transfers, securely and efficiently.

Public Address

A public address in cryptocurrency is a unique identifier that allows users to receive funds on a blockchain network. It is a string of alphanumeric characters derived from the user's public key, and it functions like a bank account number, enabling others to send cryptocurrency to the user. Public addresses can be shared openly without compromising security, as they do not reveal the private key required to access and manage the funds.

Public blockchain

A public blockchain is a decentralized and transparent digital ledger that is accessible to anyone. It allows participants to read, write, and validate transactions without needing permission from a central authority. Public blockchains are secured through consensus mechanisms like proof of work or proof of stake, ensuring data integrity and security. Examples include Bitcoin and Ethereum, which enable peer-to-peer transactions and smart contracts, fostering trust and innovation in various industries.

Public key cryptography

Public key cryptography is a secure communication method that uses a pair of keys: a public key, which can be shared openly, and a private key, which is kept secret. This cryptographic system enables users to encrypt and decrypt messages, ensuring confidentiality and authenticity.

Public Sale

A public sale is an event where goods or assets are sold openly to the general public, often through an auction or direct purchase, allowing anyone to participate.

Put option

A put option is a financial contract that gives the holder the right, but not the obligation, to sell a specified amount of an underlying asset, such as a stock, at a predetermined price (known as the strike price) within a specified time period.