Cryptocurrency
By CoinGecko | Updated on Mar 03, 2020
A form of digital currency that utilizes cryptographic protocols to record ownership, prevent counterfeit (when ownership and transaction gets logged onto the blockchain). Bitcoin is one of the most successful examples which combines peer-to-peer networking, cryptography and incentivization by design to create a cryptocurrency.
Related Terms
Full Node
Full Nodes are computers that verify the set of rules that are built into the protocols of a given cryptocurrency.
Encryption
In cryptography, encryption is a process of encoding information the original form of information called plaintext via an algorithm called cipher. The encrypted message is now called ciphertext. Only authorized parties can decipher the ciphertext and convert back it to the original plaintext.
Wallet
Software client that handles storage of cryptocurrencies and allows users to send cryptocurrencies.
Derivatives Market
A market for derivatives which are instruments such as futures or options whose value is derived from an underlying asset.
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