W

Wallet/Digital Wallet/Wallet as a Service

In blockchain, a Wallet/Digital Wallet/Wallet as a Service is an API that allows users to store and manage their cryptocurrency coins. Transactions can be made to and from the Wallet. Authorization is done depending on the type of Wallet and method of signing used - e.g. Multi-Sig, MPC, etc.

Weak Subjectivity

The necessity of a particular node to rely on the other nodes when defining the current state of the system. It is a prerequisite on PoS.

Webhook

A method/tool which provides applications with on-time information as it happens, i.e. immediately.

Wei

The smallest denomination of Ether, the digital coin on the Ethereum blockchain.

Weight

A measurement used to compare the size of different Bitcoin transactions to each other in proportion to the consensus-enforced maximum block size limit.

WETH

Stands for Wrapped Ether - allows users to trade Ether to ERC-20 tokens.

Whale

Entities that own a high number of digital currencies.

White Paper

In blockchain the term white paper refers to an informational document written with the purpose to persuade people to support a service, idea or product. White papers explain the purpose and technology of blockchain.

Whitelisting

A process through which a customer can approve and create a list with permitted and trusted applications, users, devices, addresses, etc.

Witness

Represents the transaction signatures in SegWit.

Witness Script

The script that defines the requirements of the P2WSH output. Being located in the Witness field, this makes P2WSH inputs cheaper than P2SH inputs. Not to be confused with Script Witness.

Witness Field

Is comprised of all Script Witnesses.

Wrapped Ether

ERC-20 token – Shows Ether at 1:1 ratio and enables users to trade it with ETH.