What is 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.
What is 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. They can be exchanged for other currencies, products, and services.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is a platform that enables developers to build and deploy custom applications that can run without the need for a central server or management.
What is a Smart Contract?
A smart contract is a digital contract that is executed between two or more parties, typically through the use of blockchain technology. The terms of a smart contract are automatically enforced by the blockchain network, which makes them an attractive option for security and trust purposes.
What is a DApp?
A DApp is a decentralized application. It runs on a decentralized network and uses blockchain technology to create an open, transparent and secure platform for users to interact. DApps can be used for a variety of purposes such as payments, property ownership, contracts and more.
What is a DAO?
A DAO is a decentralized autonomous organization. It is a type of organization that uses blockchain technology to manage its own finances, operations, and relationships with other entities.
What is a Token?
A token is a digital asset that is used as a means of exchange or a unit of account.
What is a Cryptocurrency?
A cryptocurrency is a digital or virtual asset designed to work as a medium of exchange 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.