It’s the place of business for crypto traders – a crypto exchange platform that went public in April this year.Ī fun fact about Coinbase is that it operates 100% remotely – the platform holds no physical headquarters, yet it employs over 3,700 people! FUD CoinbaseĬoinbase is your NYSE for crypto. When this transaction is made, the information is recorded on the blockchain, which is handled by a worldwide peer-to-peer network. It’s a bit complex to understand, but it doesn’t essentially mean you can’t.Īt its core, blockchain is the technology behind crypto, NFTs, and the rest of the one-of-a-kind digital assets.īlockchain technology is designed to store different types of information, but today, it’s mostly used to keep track of cryptocurrency transactions. Blockchainīlockchain is an inseparable part of cryptocurrency. Simply put, NFTs convert digital works of art and other collectibles into unique, supportable assets. Each NFT comes at a different value, and there are many forms, i.e., they occur as diverse forms of digital assets. The fancy “non-fungible” term means being unique, like no other, and that can’t be replaced. NFT, or longer, non-fungible tokens, are bits of digital content that are part of the blockchain. If you want to mine, you’d need a powerful PC that can withhold mining hardware and software. Mining is conducted by high-performance computers that decipher complex mathematical enigmas and use a lot of electricity. It stands for the complex process of new “coins” up for grabs. Mining is yet another term closely related to crypto. Ethereum is the platform for trading Ether, a cryptocurrency like Bitcoin. The fancy-sounding term translates to a global software platform for decentralized digital assets powered by blockchain-based technology. What differentiates Bitcoin from traditional papers of value is that banks or governments do not control it – it’s a decentralized asset. One name, in particular, is associated with Bitcoin – Satoshi Nakamoto. There are speculations of a single person behind the asset, and some believe a group of programmers designed the “digital gold” of today’s exchange market. To simplify, Bitcoin is a digital asset, a cryptocurrency that saw the light of day in 2009, but the world is still unsure of who created it. Those who have no clue what Bitcoin is have probably not read the news or browse the internet – it’s all over the place! We can’t start talking about crypto without mentioning Bitcoin. – the terms go on and on, and if you’re thinking of being part of the crypto world, here’s a shortlist of the most important crypto lingo to know in 2022.
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