Cryptocurrency Definitions: Smart Contracts

What is a Smart Contract? Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts allow arrangements and transactions to be performed without a need for enforcement mechanism system, or even a central power among disparate parties. They leave trades irreversible, transparent, … Read more

Cryptocurrency Definitions: Whitepaper

What is a Whitepaper? A white paper is an informational document issued by a business to promote or emphasize the qualities of service, product or a remedy. White papers are persuade or marketing and sales records used to entice customers buy service a item, technology or methodology or to find out more about. White papers … Read more

Cryptocurrency Definitions: Satoshi

The smallest unit of the bitcoin cryptocurrency. Satoshi is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the famous Bitcoin cryptocurrency. The satoshi represents just one hundred millionth of a bitcoin. Contrary to the physical variations of international currencies, like the British pound or U.S. dollar, cryptocurrencies predominately exist … Read more

How Ethereum Was Created

Founded in 2015, Ethereum is the 2nd largest cryptocurrency in the world, behind Bitcoin. Ethereum (ETH) is a decentralized program platform that empowers SmartContracts to be assembled and operate without downtime, fraud, interference or control from an outside party. How Did Ethereum Start? Ethereum was proposed in 2013 by a cryptocurrency researcher/programmer named Vitalik Buterin. … Read more

Cryptocurrency Definitions: Monero (XMR)

monero

What Is Monero? Monero (XMR)is a secure, private, and untraceable cryptocurrency. It is open-source and accessible to all. Most existing cryptocurrencies, like the major ones (Bitcoin, Ethereum, ect.) have transparent blockchains, meaning that transactions are openly verifiable and traceable by anyone in the world. Furthermore, sending and receiving addresses for these transactions may potentially be … Read more

Cryptocurrency Definitions: Bitcoin Fork August 2017

On August 1st, 2017, a divergence in the bitcoin blockchain was created. This created a new bitcoin token on the blockchain in addition to the bitcoin from the original chain: Bitcoin cash. Everyone who owned the original bitcoin kept their existing tokens, but also received bitcoin cash tokens on the day of the split. There … Read more

Cryptocurrency Definitions: Initial Coin Offering (ICO)

ico

An Initial Coin Offering (ICO) is an unregulated method that is used to generate funds for a cryptocurrency venture. This offering can be used by startups to skip the rigorous and controlled capital-raising procedure demanded by venture capitalists or banks. When a cryptocurrency start-up company would like to raise money through a First Coin Offering … Read more

Cryptocurrency Definitions: Block Reward

block reward

Block reward refers to the new cryptocurrency tokens distributed by the network to miners for each successfully solved block. Essentially, it entails solving a computationally tough math equation to find a new cube, which can be added to a blockchain, and getting a reward of couple bitcoins or other crypto currencies for solving the problem. … Read more