Dictionary
BITCOIN
Bitcoin (BTC), often called the first cryptocurrency, is a decentralized digital currency. Bitcoin has been invented by the software developer called himself Satoshi Nakamoto (the real person behind the name "Satoshi Nakamoto" seems to be a cryptograph specialist, former NSA employee). "Sathoshi Nakamoto" published his invention in 2008, October 31th in the research paper "Bitcoin: A Peer-to-Peer Electronic Cash system".
Bitcoins are not printed like dollars, euros, or any other currency (fiat currency). It is not based on gold or silver but on mathematics. There are several major differences between Bitcoin and traditional currencies (fiat currencies, e.g. USD) ... |
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ALTCOIN
Altcoins are cryptocurrencies other than bitcoin. The majority of altcoins are forks of Bitcoin with small uninteresting changes.
The word “altcoin” is an abbreviation of “Bitcoin alternative,” and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon at least one Bitcoin component.
An altcoin is useful if it accomplishes a task that Bitcoin cannot ...
The word “altcoin” is an abbreviation of “Bitcoin alternative,” and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon at least one Bitcoin component.
An altcoin is useful if it accomplishes a task that Bitcoin cannot ...
LITECOIN
Litecoin (LTC), like bitcoin, is a peer-to-peer crytocurrency that is generated by mining. Litecoin was created in October 2011 by former Google engineer Charles Lee (now, he is working for Coinbase, one of the most popular online bitcoin wallets). The purpose behind was to improve upon bitcoin, the key difference for end-users being the 2.5 minute time to generate a block, as opposed to bitcoin's 10 minutes.
Litecoin is also an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances ...
Litecoin is also an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances ...
DOGECOIN
Dogecoin (DOGE) is a decentralized, peer-to-peer digital currency but, in contrast to the bitcoin, there is no limit of coins. Dogecoin was created by the programmer Billy Markus from Portland (Oregon). His idea was to create a fun cryptocurrency that could reach a broader demographic than bitcoin. Compared with other cryptocurrencies, it has a fast initial coin production schedule: 100 billion coins have been in circulation by mid 2015 with an additional 5.256 billion coins every year thereafter.
Dogecoin has consistently been in the top ten market capitalizations for cryptocurrencies, and ...
Dogecoin has consistently been in the top ten market capitalizations for cryptocurrencies, and ...
CRYPTOCURRENCY WALLETS
Cryptocurrency Wallets
The regular wallet you carry is a storage place for your financial tools, as well as a place to keep family pictures, ticket stubs and whatever else may collect there. Most people keep their bank cards, credit cards and regular bill-and-coin currency in their wallets.
Well, cryptocurrency wallets (further called simply wallets) are not all that different.
They are made to store all the information that is pertinent to your digital currency account, and they come in four different types ...
The regular wallet you carry is a storage place for your financial tools, as well as a place to keep family pictures, ticket stubs and whatever else may collect there. Most people keep their bank cards, credit cards and regular bill-and-coin currency in their wallets.
Well, cryptocurrency wallets (further called simply wallets) are not all that different.
They are made to store all the information that is pertinent to your digital currency account, and they come in four different types ...
CRYPTOCURRENCY FAUCETS
Cryptocurrency Faucets or simply called faucets are all websites that give away cryptocurrencies for free. Each faucet is designed for a certain cryptocurrency - bitcoin, litecoin, dogecoin or other altcoins.
After entering your cryptocurrency address (BTC / LTC / DOGE address) and completing a CAPTCHA in order to prove you are human, you can claim the free amount of coins offered by the faucet.
Faucets have a minimum time interval limit between claims. This duration varies from 5 minutes to 24 hours, depending on the faucet.
In order to decrease the transaction fees, most faucets will hold your coins until you reach a certain threshold, or use a microtransaction service such as FaucetBox. Then, your coins are sent directly into your wallet.
After entering your cryptocurrency address (BTC / LTC / DOGE address) and completing a CAPTCHA in order to prove you are human, you can claim the free amount of coins offered by the faucet.
Faucets have a minimum time interval limit between claims. This duration varies from 5 minutes to 24 hours, depending on the faucet.
In order to decrease the transaction fees, most faucets will hold your coins until you reach a certain threshold, or use a microtransaction service such as FaucetBox. Then, your coins are sent directly into your wallet.
CAPTCHA
CAPTCHA (acronym for Completely Automated Public Turing Test To Tell Computers and Humans Apart) was coined in 2003 by Luis von Ahn, Manuel Blum, Nicholas Hopper and John Langford of Carnegie Mellon University. CAPTCHA is a program that protects websites against bots by generating tests that humans can pass but current computer programs cannot.
In order to claim the reward from a faucet, beside entering your cryptocurrency address (BTC / LTC / DOGE address), you have to solve a CAPTCHA ...
In order to claim the reward from a faucet, beside entering your cryptocurrency address (BTC / LTC / DOGE address), you have to solve a CAPTCHA ...
FAUCETHUB
FaucetHUB was a middle website between the faucets you use to collect coins and your wallet(s).
CRYTOCURRENCY MINING
Cryptocurrency Mining is the process of cryptocurrency generation by solving mathematical equations.
Frequently, this process is compared with the real mining operation through which precious metals are discovered and extracted. Thus, we can say that cryptocurrencies (BTC / LTC / DOGE / etc..) act like cash but they are mined like gold.
For the most cryptocurrencies users, it is not necessary to understand how the mining process in itself works, but it is fundamentally important to know that there is a mining process in order to create the virtual currency. Unlike currencies as we know them today ...
Frequently, this process is compared with the real mining operation through which precious metals are discovered and extracted. Thus, we can say that cryptocurrencies (BTC / LTC / DOGE / etc..) act like cash but they are mined like gold.
For the most cryptocurrencies users, it is not necessary to understand how the mining process in itself works, but it is fundamentally important to know that there is a mining process in order to create the virtual currency. Unlike currencies as we know them today ...