What is Bitcoin?
Bitcoin is a cryptocurrency and a payment system, first proposed by an anonymous person or group of people under the name Satoshi Nakamoto in 2008. Nakamoto implemented the system in 2009 as a way to create and trade digital tokens without relying on a central authority. Bitcoin is unique in that there are a finite number of them: 21 million.
What is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is powered by the Ether token.
What is Cronos?
Cronos is a Canadian company that is developing a platform for the creation and trade of digital tokens. Cronos plans to offer a variety of services, including a token creation platform, a decentralized exchange, and a payment gateway.
What is an exchange?
An exchange is a platform where buyers and sellers can trade digital tokens. Exchanges can be centralized or decentralized. Centralized exchanges are run by a single company, while decentralized exchanges are run by a network of users.
What is a token?
A token is a digital asset that represents a unit of value. Tokens can be used to represent a variety of things, including currency, assets, or points.
What is a blockchain?
A blockchain is a decentralized database that stores a continuously growing list of transactions. Blockchain technology is used to create digital tokens and to power decentralized exchanges and applications.
What is mining?
Mining is the process of verifying transactions and adding them to the blockchain. Miners are rewarded with tokens for their efforts.
0 Comments