Bitcoin, Blockchain and Cryptocurrency Terms
- Altcoin is a cryptocurrency alternative to Bitcoin.
- basically a computer file which is stored in a 'digital wallet' app on a smartphone or computer. It is described as a cryptocurrency, a virtual currency or a digital currency - a type of money that is completely virtual. It is not a physical currency.
- Blocks are records in a blockchain that are created in a chronological, linear way, secured with cryptography on the blockchain.
is digital money created from code. It is an encrypted string of data encoded to signfiy a unit of currency.
- Short for Decentralized Finance. Peer-to-peer software-based network of protocols that can be used to facilitate traditional financial services.
- A digital token is the digital asset, utility, or equity associated with a blockchain. Mainly digital tokens are used in Initial Coin Offers (ICOs) and crypto-rewards systems like Basic Attention Token (BAT).
- A database of records of public transactions stored and updated on servers and computers.
- Like the exchange rate of fiat currency, cryptocurrency exchange rate is the value of a currency in respect to another currency.
- is a government-issued currency. It is not backed by a commodity such as gold. Fiat money gives central banks greater control over the economy because they can control how much money is printed. Most modern paper currencies, such as the U.S. dollar, are fiat currencies. The term is derived from the Latin word fiat, which means a determination by authority.
Initial Coin Offering (ICO)
- The launch of a new cryptocurrency or token that is used to raise seed money or startup money for the start of a new company.
- A Satoshi is the smallest fraction of a Bitcoin. It amounts to just one 100 millionth of one bitcoin. You cannot send just one satoshi over the network, as it is too small and would clog up the network with tiny transactions. The smallest transaction value is 546 satoshis, which is still pretty tiny.
The Satoshi is named after the person who is normally assumed to be the creator of Bitcoin, Satoshi Nakamoto.
- A place to store public and private keys for crypto assets. Wallets are typically software, hardware, or paper-based.
Bitcoin, Bockchain and Crypto products for Sale
Buy Mining hardward and software
here and Mining and Crypto devices
here for Bitcoin products
To add an entry or request an existing one to be altered, please fill in the comments form