The Best Places to Learn About Crypto Terms: Bitcoin and Blockchain
Bitcoin and blockchain are two of the most important terms in cryptocurrency. Bitcoin is a digital currency that was created in 2009. Blockchain is a digital ledger of all cryptocurrency transactions.
From Bitcoin to Blockchain: The Best Places to Learn About Crypto Terms
1. CoinDesk - CoinDesk is a leading media outlet for all things bitcoin and blockchain. They offer a comprehensive and up-to-date source of information on bitcoin, including news, price analysis, insights from industry experts, and more.
2. Blockchain.info - Blockchain.info is one of the most popular online resources for learning about blockchain technology. They offer an easy-to-use platform for exploring how blockchain can be used to improve your business, and a variety of resources to help you get started with this new technology.
3. CryptocurrencyTalk.com - CryptocurrencyTalk.com is a forum for discussing all things cryptocurrency. They offer a wide range of resources to help you learn about bitcoin and other digital currencies, as well as tips and advice from experienced traders and developers.
4. Coindesk - Coindesk is a leading media outlet for all things bitcoin and blockchain. They offer a comprehensive and up-to-date source of information on bitcoin, including news, price analysis, insights from industry experts, and more.
A Beginner's Guide to Bitcoin and Blockchain Terminology
Bitcoin and blockchain are two of the most talked-about technologies in recent years. In this article, we'll provide a beginner's guide to Bitcoin and blockchain terminology.
What is Bitcoin?
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
What is blockchain?
A blockchain is a distributed database that maintains a continuously growing list of records, called blocks. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
What is a cryptocurrency?
Cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning they are not subject to government or financial institution control.
What is a digital asset?
A digital asset is a type of cryptocurrency or other digital property. Digital assets are represented by digital tokens on a virtual blockchain.
How to Understand Bitcoin and Blockchain Terminology
Bitcoin:
Bitcoin is a digital asset and a payment system invented by Satoshi Nakamoto. Bitcoin is unique in that there are a finite number of them: 21 million. They are created as a reward for a process known as mining. Bitcoin can be used to purchase goods and services, or exchanged for other currencies.
Blockchain:
A blockchain is a digital ledger of all cryptocurrency transactions. It is constantly growing as "completed" blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to differentiate legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
The Most Important Crypto Terms You Need to Know
Bitcoin: Bitcoin is the world’s first decentralized digital currency and it was created by an unknown person or group of people under the name Satoshi Nakamoto in 2009. Bitcoin is a deflationary currency which means that its value will decrease over time.
Ethereum: Ethereum is a blockchain-based platform that enables developers to build and run decentralized applications. It also provides a decentralized virtual machine, called the Ethereum Virtual Machine (EVM), that can be used to run smart contracts.
Bitcoin Cash: Bitcoin Cash is a cryptocurrency that was created on August 1, 2017, as a result of a hard fork of the Bitcoin network. Bitcoin Cash has a larger block size limit than Bitcoin and uses a different hashing algorithm than Bitcoin.
Litecoin: Litecoin is a cryptocurrency that was created in 2011 by Charles Lee. Litecoin is based on the Bitcoin protocol but has a reduced block size of 2 MB. This makes it more resistant to potential 51% attacks.
A Glossary of Common Bitcoin and Blockchain Terms
Bitcoin: A digital asset and a payment system invented by Satoshi Nakamoto. Bitcoin is unique in that there are a finite number of them: 21 million.
Blockchain: A digital ledger of all Bitcoin transactions. It is constantly growing as "completed" blocks are added to it with a new set of recordings. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.
Bitcoin mining: The process of solving mathematical problems to verify and add to the block chain. When a miner solves a block, they are rewarded with newly created Bitcoin.
Digital wallet: A software program that allows you to store Bitcoin and other cryptocurrencies.
Ethereum: A decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference.
Fiat currency: Currency that is not backed by any physical assets. Examples include U.S. dollars, euros, and British pounds.
What Do Bitcoin, Blockchain, and Cryptocurrency Mean?
Bitcoin, blockchain, and cryptocurrency are all terms that have been used to describe a digital asset and system. Bitcoin is the first and most well-known digital asset, but there are also other cryptocurrencies like Ethereum and Litecoin. Blockchain is the technology that underlies cryptocurrencies like Bitcoin and Ethereum. Cryptocurrency is a term used to describe digital assets and systems that use blockchain technology.
common crypto terms defined
cryptography - the practice of secure communication in the presence of third parties
cryptographic hash function - a function that takes an input of arbitrary length and produces a string of bits of fixed length
cryptographic key - a string of bits used to secure a cryptographic message
cryptographic algorithm - a set of rules that determine how to encrypt and decrypt data using a cryptographic key
cryptographic signature - a string of bits that can be used to verify the authenticity of a message or to ensure that a message has not been modified in transit
cryptography security - the security of cryptographic algorithms and protocols
Deciphering Bitcoin: A Glossary of Common Crypto Terms
Bitcoin: A digital asset and payment system
Blockchain: A distributed ledger of all Bitcoin transactions that is constantly growing as "completed" blocks are added to it with a new set of recordings
Cryptography: The practice of secure communication in the presence of third parties
Cryptocurrency: Digital assets created and used as a medium of exchange
Ether: Ethereum's internal cryptocurrency