WebWallet - Terminology

IOU

A cryptographically signed document that acknowledges a debt and authorizes a transaction to clear it.

Address

An identifier for a collection of counters whose balances are controlled by the same cryptographic credentials.

Counter (i.e. "output")

A data structure that contains properties of a numeric value, such as its unit of account and the constraints for modifying it.

Countspace (i.e. "currency")

A namespace for uniquely identified counters whose numeric values are denominated in the same unit of account.

Transaction

A document that describes operations on counters based on references to previous results and instructions to modify them.