Cryptocurrency - Digital Currency
CRYPTOCURRENCY Cryptocurrency A cryptocurrency or crypto is a virtual currency secured by cryptography. It is designed to work as a medium of exchange, where individual ownership records are stored in a computerized database. Address: Cryptocurrency coins are identified on the blockchain by unique addresses. You can think about the blockchain as a GPS and your cryptocurrency address as its targeted mailing address. Without an address, no coin is stored; the blockchain can’t confirm nor verify its existence. So, without a proper wallet address, you can’t own a coin. Altcoin: Altcoin means all cryptocurrencies that aren’t Bitcoin (and in some contexts, Ether). The phrase is used matter-of-factly to describe various other cryptocurrencies. Ethereum is currently the world’s largest altcoin. Bitcoin Maximalist: Bitcoin Maximalist refers to a person who believes that Bitcoin is the only cryptocurrency of value. Blockchain: Blockchain, which consists of a series of blocks, is a digital