Cryptocurrency Glossary

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.