Your First BitMask Wallet
Creating a wallet on BitMask
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. |
Lightning Network (LN) | An additional layer built on top of the Bitcoin network that allows for faster and cheaper transactions. |
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. |
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