Cryptocurrency Glossary
Usman Sheikh
Usman Sheikh
Cryptocurrency: A decentralized digital currency that uses cryptography to secure its transactions and to control the creation of new units.
Blockchain: A decentralized ledger that records all transactions across a network of computers.
Wallet: A software program that stores private and public keys and allows users to send and receive cryptocurrencies.
Public Key: A string of characters that represents a user's address on the blockchain.
Private Key: A secret code that allows users to access their cryptocurrency assets.
Mining: The process of verifying transactions and adding them to the blockchain.
Hash: A unique code created by a mathematical algorithm that identifies a block in the blockchain.
Node: A computer that is connected to the blockchain network and participates in maintaining it.
Altcoin: Any cryptocurrency that is not Bitcoin.
Token: A digital asset that represents a specific use case or asset, such as a stock or a loyalty point.
ICO: An Initial Coin Offering, a method of raising funds by selling a new cryptocurrency to investors.