Most Popular Services Terms
In order for you to receive a cryptocurrency to your digital currency wallet you must give to the person sending them to you a string of numbers and letters known as your public key.
Proof of Work
You will find that proof or work simply is the mining algorithm Bitcoin uses and it is a ledger of sorts that allows you or anyone else to determine who signed a blockchain transaction.
Proof of Stake
This is simple an alternative to the Proof of Work concept and as such it is simply a method for deciding who signs any type of transaction hat is performed on a blockchain.
Proof of Existence
This is the name given to a service that you will find on offer via blockchain that allows people to securely store any document online and prove that it was stored at a certain time.
Proof of Burn
When you burn a cryptocurrency you are simply exchanging it for another cryptocurrency and is a way that one coin can be turned into another quickly and easily.
The are only a handful of different transactions you can perform when using a digital currency and one of them is an output which is the instruction given to send any cryptocurrency.
There is no need for you to make the use of a digital currency exchange to buy or sell cryptocurrencies for you can perform an over the counter exchange with people you know.
Off Blockchain Transactions
When two people want to exchange large volumes of digital currencies they can do that off-block as by doing so they are performed much quicker and with no delays.
This is a process whereby someone who may be wishing to cover their tracks in regards to cryptocurrencies will mix their funds in with others and move it around to several wallets.
This is quite a technical term used by traders in digital assets that shows the relationship of the average prices of any two digital assets its full name is Moving Average Convergence Divergence
When someone is margin trading what they are doing for all intents and purposes is borrowing money in the hope they can repay those borrowings and also make a profit too.
DAO refers to the Decentralised Autonomous Organizations, which in layman’s terms simply means the blockchain technology that exists without the need for human intervention.
If you want to find out which cryptocurrencies are available and learn more about their transaction history and values then you will use a Block Explorer type of search engine.