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
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Wei
The smallest fraction of an Ether, with each Ether to 1000000000000000000 Wei.
Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.