Cryptocurrency Glossary: A Guide to Understanding the Language of Crypto
About
The world of cryptocurrency can be a confusing place, with its own unique set of terms and jargon. This glossary will help you understand the basics of cryptocurrency, from the basics of blockchain technology to the different types of cryptocurrencies available.
Key Terms
Here are some of the key terms you need to know:
- Blockchain: A distributed database that is used to maintain a continuously growing list of records, called blocks
- Cryptocurrency: A digital or virtual currency that uses cryptography for security
- Decentralized: Not controlled by a single entity
- Hashing: A mathematical function that converts data into a smaller, fixed-size value
- Mining: The process of adding new blocks to the blockchain
- Node: A computer that is connected to the blockchain network
- Private key: A secret code that is used to access cryptocurrency wallets
- Public key: A code that is used to send cryptocurrency to a wallet
- Token: A digital asset that represents a specific value or utility
- Wallet: A software program that stores cryptocurrency
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