Application Specific Integrated Circuit (ASIC) is designed to perform a single function very fast. Since 2013, ASICs have been used for bitcoin mining (first done with basic CPUs, then high-end GPUs, then FPGAs, and finally with ASICs.
Bitcoin is the first cryptocurrency to ever hit the market. It’s also the best-known, most widely traded cryptocurrency, and the one with the highest market cap.
Central Bank Digital Currencies — CBDCs for short — are digital fiat currencies, or digital cash, inspired by cryptocurrencies.
Decentralization is a fundamental feature of crypto assets. Cryptocurrencies, tokenized assets, and the networks they run on, blockchains, are decentralized by design.
Ethereum is often compared to Bitcoin and thought of as an alternative to it. But while Ethereum uses blockchain technology and has its own cryptocurrency — Ether — that’s where the similarities with Bitcoin end.
A fork is a split in a blockchain network. It can be accidental or intentional. An accidental fork happens when two or more miners find a block at the same time.
In crypto, gas can mean one of two things: Gas coin, a cryptocurrency or a unit that measures how much computer power is required to perform an action on the Ethereum network.
A hash is a hexadecimal number that represents a string of data. The process that converts the data into a hash is called hashing.
Initial offerings are the crypto world’s version of an IPO. There are two main types: Initial Coin Offerings and Initial Token Offerings.
Jaime Dimon has been the chairman and CEO of US banking giants JP Morgan since 2005. He made the Time 100 — Time magazine’s yearly list of the 100 most influential people — in 2006, 2008, 2009, and 2011.
Keys enable two parties to complete a cryptocurrency transaction securely. They also prove that the transaction is legitimate. Or, in other words, that it was made by the true owner of the funds.
A ledger is the public, decentralized record-keeping system that crypto assets run on. It stores data in encrypted files called blocks. These blocks are connected, or chained, to one another, which is why crypto ledgers are known as blockchains.
In the crypto ecosystem, mining serves two purposes: it produces new coins and it verifies that information is accurate before it’s permanently recorded onto the blockchain.
Non-fungible tokens, or NFTs, are a type of cryptographic token — a digital representation of value that lives on the blockchain.
Nodes are the blockchain’s physical infrastructure. The hardware — typically desktop computers, laptops, or servers — that supports cryptocurrency networks.
Open can mean two things in the crypto space: an open blockchain or open source software. Most major blockchain-based projects — including Bitcoin and Ethereum — are both open and open source.
Proof of work and proof of stake are two mechanisms through which cryptographic transactions can be verified and new blocks added to the blockchain.
Quantum-resistant algorithms — also known as post-quantum, quantum-secure, and quantum-safe — are cryptographic algorithms that can fend off attacks from quantum computers.
Ripple is an exchange platform with a decentralized ledger and its own cryptocurrency.
Stablecoins are asset-backed cryptocurrencies. By linking their value to a more stable asset, stablecoins aim to avoid fluctuating as much or as often as traditional cryptocurrencies like Bitcoin.
A cryptographic token is a digital unit of value that lives on the blockchain. There are four main types: payment tokens, utility tokens, security tokens, non-fungible tokens.
Utility tokens are one of four types of cryptographic tokens that represent digital units of value on the blockchain.
Volatility is the degree to which an asset fluctuates in value. If an asset is highly volatile, it can be prone to sudden price fluctuations.
A wallet is a system that allows you to send, receive, and store cryptocurrency. Wallets keep your private keys safe.
XBT is an abbreviation for Bitcoin. The main difference between XBT and BTC is that the former has been prescribed by ISO.
Yield farming allows cryptocurrency holders to earn rewards — typically other crypto tokens — in exchange for lending out their coins.
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