What is Crypto

Cryptocurrency is a digital or virtual asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.

Cryptocurrencies are decentralized systems that are not subject to government or financial institution control. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Since then, numerous other cryptocurrencies have been created. These are often referred to as altcoins, as a contrast to bitcoin. Cryptocurrencies are often traded on decentralized exchanges and can also be used to purchase goods and services. Cryptocurrencies are also held as investments by individuals and companies. 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 cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.What is a Decentralized Exchange A decentralized exchange is a cryptocurrency exchange that does not rely on a third party to hold the customer's funds. Decentralized exchanges allow direct peer-to-peer trading between users. This means that the exchange is not subject to the same regulations as a traditional, centralized exchange. Decentralized exchanges are often used to trade altcoins, which are cryptocurrencies that are not Bitcoin.

Bitcoin Mining

What is a Bitcoin Mining Pool A Bitcoin mining pool is a group of Bitcoin miners that cooperate in order to increase their chances of solving a block and receiving a reward. Mining pools allow miners to pool their resources together and share the rewards evenly. Bitcoin mining pools are a way to encourage small-scale miners to stay involved in mining activities. What is an Altcoin An altcoin is a cryptocurrency that is not Bitcoin. Altcoins are often used to trade on decentralized exchanges and can also be used to purchase goods and services.