Your First BitMask Wallet

What you should know

Before we begin, you may want to refresh on some terminology we will be using throughout this documentation

Term	Description
Bitcoin	The Bitcoin network or timechain
bitcoin	The money that is saving the world. Shorten to BTC or the symbol ₿
Bitcoin Wallet	A software program that stores private and public keys, allowing users to send, receive, and manage their Bitcoin transactions.
block	A block in the Bitcoin blockchain is a collection of confirmed transactions added to the chain approximately every 10 minutes, creating a permanent record.
Lightning Network (LN)	An additional layer built on top of the Bitcoin network that allows for faster and cheaper transactions.
mempool	The mempool (memory pool) is a collection of all unconfirmed transactions waiting to be included in the next block of the Bitcoin blockchain.
on-chain	The main Bitcoin blockchain, also referred to as layer 1 or the settlement layer.
RGB	A smart contracts system for Bitcoin & lightning network developed by the LNP/BP Association. Learn more here
RGB Asset	A contract on RGB that can create a token, asset, or UDA (see below)
RGB Vault	Software to manage RGB assets, secure by a seed phrase; Similar to a Bitcoin wallet
satoshi (sats)	The smallest denomination on-chain. 100,000,000 satoshis = 1 BTC Shorten to sats
seed phrase	A seed phrase, also known as a recovery phrase or mnemonic seed, is a list of words which store all the information needed to recover a Bitcoin wallet.
UDA	Unique Digital Asset (UDA) is a token that is absolutely unique. Similar to a NFT (non-fungible token)
UTXO	An unspent transaction output (UTXO) refers to a transaction output that can be used as input in a new transaction.