What basic terms should I know to discuss cryptocurrency confidently?
What basic terms should I know to discuss cryptocurrency confidently?
To confidently discuss cryptocurrency, familiarize yourself with essential terms such as:
- Blockchain: The underlying technology that powers cryptocurrencies, acting as a decentralized ledger for all transactions.
- Wallet: A digital wallet used to store your cryptocurrencies securely.
- Mining: The process of validating transactions and adding them to the blockchain, often rewarded with newly created coins.
- Altcoin: Any cryptocurrency other than Bitcoin.
- ICO: Initial Coin Offering—a way startups raise funds by issuing their own token.
Understanding these terms will give you a solid foundation to engage in discussions about the cryptocurrency ecosystem.