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Eight terms used in Crypto and their meaning
Blockchain content writer| I simplify how the Technology works, and I help brands to become visible to their target audience. Β Jan 30, 2023
Eight terms used in Crypto and their meaning

There are a number of terms and concepts that are commonly used in the Crypto space. In this post, I will explain the meaning of eight.


Bitcoin (BTC) 

This is the first and most popular crypto currency. It was created in 2009 by an individual or group of individuals using the pseudonym Satoshi Nakamoto.

Blockchain 

This is the technology that underlies  crypto currencies. It is a decentralized and distributed digital ledger that records all transactions.

Wallet 

This is a digital storage space where people can store their cryptocurrencies.

Public key 

This is a unique string of characters that represents a person's address on the blockchain, and can be used to send and receive cryptocurrencies.

Private key 

This is a secret code that is used to access and control a person's cryptocurrency.

Mining 

This is the process of using powerful computers to verify and record transactions on the blockchain, for which the miner is rewarded with a certain amount of cryptocurrency.

Cold storage 

This is a method of storing cryptocurrencies offline, to protect them from hacking and other forms of cybercrime.

FOMO 

This is an acronym for Fear of missing out. It is a psychological phenomenon that can drive people to buy or sell a cryptocurrency at the wrong time.














































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