Altcoin

Image by WorldSpectrum from Pixabay

Cryptocurrency is a type of digital currency, the issuing and accounting of which are based on cryptographic methods such as Proof-of-work – which assures that coins are mined only by users putting computing power to work in solving complicated mathematical problems – and asymmetric or public key encryption – which assures that the network that the currency runs on remains safe, …

Smart contract

Smart contract (also self-executing contract, blockchain contract, or digital contract)[1] is an electronic algorithm intended for the automation of the contract execution process in the blockchain. The general idea of smart contracts is to exclude divergences in the treatment of the agreement terms by the entered parties. Smart contracts are basically just computer code that is stored in a …

Token

Token is a unit of value issued by a tech or crypto start-up, intended to be a piece in the ecosystem of their technology platform or project. Tokens are supported by blockchains. They only physically exist in the form of registry entries in said blockchain. Initially, most tokens were based on the ERC20 protocol by Ethereum.Tokens are different from …

Blockchain

Blockchain is a cryptographically secured, time-stamped, public and distributed database of every bitcoin transaction that has ever occurred on the network. “Distributed” here means that the information in the blockchain is broadcast to and recorded by every node in the network. There is no one central database. Any user can refer to this list of transactions and check exactly …