Okla. Stat. tit. 75A § 100

Current through 2024 Legislative Session

Section 100 - [Effective 11/1/2024]

As used in this act:

1. "Blockchain" means data that is shared across a network to create a ledger of verified transactions or information among network participants linked using cryptography to maintain the integrity of the ledger and to execute other functions and distributed among network participants in an automated fashion to concurrently update network participants on the state of the ledger and any other functions;

2. "Blockchain protocol" means any executable software deployed to a blockchain composed of source code that is publicly available and accessible, including a smart contract or any network of smart contracts;

3. "Digital asset" means virtual currency, cryptocurrencies, natively electronic assets, including stablecoins and non-fungible tokens, and other digital-only assets that confer economic, proprietary, or access rights or powers;

4. "Digital asset mining" means using electricity to power a computer or node for the purpose of securing a blockchain network;

5. "Digital asset mining business" means a group of computers working that consume more than one (1) megawatt of energy for the purpose of securing a blockchain protocol;

6. "Discriminatory rates" means electricity rates substantially higher from other industrial uses of electricity in similar geographic areas;

7. "Home digital asset mining" means using digital asset mining in an area zoned for residential use;

8. "Node" means a computational device which contains and updates a copy of a blockchain;

9. "Self-hosted wallet" means a digital interface used to secure and transfer digital assets and under which the owner of the digital asset retains independent control over the digital assets that are secured by such digital interface;

10. "Hardware wallet" means a physical device that is not continuously connected to the Internet and allows an individual to secure and transfer digital assets and under which the owner of the digital assets retains independent control over the digital assets;

11. "Staking" means the act of committing digital assets for a period of time to validate and secure a specific blockchain protocol; and

12. "Staking as a service" means the provision of technical staking services, including the operation of nodes and the associated infrastructure, necessary to facilitate participation in blockchain protocols' consensus mechanisms.

Okla. Stat. tit. 75A, § 100

Added by Laws 2024 , c. 296, s. 2, eff. 11/1/2024.