What is Bitcoin? The Basics of Bitcoin Explained

Bitcoin Terminologies Term Definition Address A bitcoin address allows sending and receiving bitcoins on the Bitcoin network; it’s used for transactions. Altcoin A group of cryptocurrencies other than Bitcoin, e.g., Ethereum, Litecoin, and PPcoin. ASIC Application Specific Integrated Circuit designed for processing SHA256 hashing equations used in Bitcoin mining. ASIC Miner The latest mining hardware … Read more