What is Bitcoin? Invented by Satoshi Nakamoto. Bitcoin is a decentralized virtual currency.
Who is Satoshi Nakamoto? Satoshi Nakamoto is the pseudonym used by a people or group of people who invented Bitcoin. Satoshi developed the original protocol and blockchain technology that underlies Bitcoin. Satoshi’s real identity is unknown.
What is a Altcoin? An altcoin is a digital cryptocurrency and is used describe any cryptocurrency that is not a Bitcoin. The term is said to stand for “alternative to Bitcoin”.
What is a Blockchain? Bitcoin depends on a distributed ledger system known as the blockchain. The essential power of blockchain technology is its ability to distribute information. Because it is distributed across all of the nodes, or individual computers, that make up the system, the term “blockchain technology” is often swapped with “distributed ledger technology.”
What is a ICO? An Initial Coin Offering, also commonly referred to as an ICO, is a fundraising mechanism in which new projects sell their underlying cryptocurrency tokens in exchange for bitcoin and altcoins. It’s somewhat similar to an Initial Public Offering (IPO) in which investors purchase shares of a company.
What is Bitcoin mining? Where do bitcoins come from? While traditional money is created through (central) banks, bitcoins are “mined” by Bitcoin miners: network participants that perform extra tasks.
What is a cryptocurrency exchange? A cryptocurrency exchange is an online broker platform that allows customers to trade cryptocurrency or other digital currencies for assets, such as fiat currency.