Most Popular Cryptocurrency Terms

Cryptocurrency Terms


Most Popular Cryptocurrency Terms

Silk Road

This as an online website that allowed people to both buy and sell all manner of illegal substances and things using Bitcoin is was however closed down back in October 2013 by the FBI.


This is the name that refers to some form of get rich quick scheme and a scam that is designed by piggy backing so to speak on another digital currency by launching a token of it.

Satoshi Nakamoto

This is the name of the person who invented Bitcoin, and not a lot is known about him or her or whether it is in fact a company or organisation or even a government agency!


As you will find out when you start to use digital currencies such as Bitcoin, they are split up into different units and the smallest unit of Bitcoin you can have is one Satoshi 0.00000001BTC.


When any two people perform a transaction that is simply known as a peer to peer or p2p transaction, and as such that is the basis of the entire cryptocurrency trading environment.


As mentioned above you can have much smaller units of most digital currencies and when you come across the term mBTC that refers to a one thousandth of a single Bitcoin unit, 0.001BTC.


There are many Altcoins are they are known which have been designed to be alternatives to Bitcoin and Litecoin was on that was launched by Bobby Lee to be a credible alternative.


This was the first stage of the Ethereum roadmap, there were four stages on that roadmap and they are known in the correct order as Frontier, Homestead, Metropolis and Serenity.


There are many different protocols in place in regards to all cryptocurrencies and when you hear Darksend being discussed it refers to the Darkcoin decentralized mixing implementation.


When you come across the term BTC that is simply the symbol that is used to indentify for one single unit of the Bitcoin currency and it is also its ticket symbols used on digital currency exchanges.


The very first cryptocurrency to go live and to go into general circulation so to speak was the Bitcoin cryptocurrency and for reference that cryptocurrency went live back in 2009.


As the number of cryptocurrencies have increased quite dramatically those that are not the original one, that being Bitcoin, are simply referred to as Altcoins meaning alternative coins.

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