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Address

In cryptocurrency terms an address is a unique identifier used for sending, receiving and storing cryptocurrencies in a wallet. The address is generated via the private key, and that private…

Altcoin

An Altcoin is a name given to all the other cryptocurrencies that are based on the Bitcoin protocol. They are attempts to improve (or scam) upon Bitcoin by tweaking parameters…

Alternative Currency

Alternative currencies are those other than the traditional fiat currencies issued by the world’s governments and central banks. The most common type of alternative currency in the early 21st century…

ASIC/ASIC Miner

Application Specific Integrated Circuit mining with a is a chip specifically created to execute one task, like solving the SHA-256 algorithm puzzle. It’s the most power efficient method of mining…

BIP

An acronym for “Bitcoin Improvement Proposals” which can be submitted by anyone who wants to improve the Bitcoin network. It should be noted that while anyone can submit a BIP,…

Bitcoin

Bitcoin is the oldest and first cryptocurrency, which was created in 2008 and went live in 2009. It was created by a fictional person or persons known as Satoshi Nakamoto.…

Bitcoin Protocol

The open source cryptographic protocol which operates on the Bitcoin network, setting the “rules” for how the network runs. These rules are numerous and detailed, spelling out each instance of…

Block

A block in cryptocurrencies refers to the collection of transaction data, and it is the basis of the blockchain protocol. Each transaction creates a set of data, and this data…

Blockchain

A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Constantly growing as ‘completed’ blocks (the most recent transactions) are recorded and added to it in chronological order,…

Blockchain Reward

Blockchain transactions are verified in a process known as mining, and each time a block is mined the miner receives a reward to compensate them for the resources used in…

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