What is crypto & how does it work?

Crypto is the generic term to refer to cryptocurrency, the crypto market and the blockchain industry. A cryptocurrency, also known as ‘crypto’, is a type of currency that is transferred via a blockchain. It uses strong cryptography to secure the transactions, that usually have value.

What is a cryptocurrency system?

According to Jan Lansky, a cryptocurrency is a system that meets six conditions: The system does not require a central authority; its state is maintained through distributed consensus. The system keeps an overview of cryptocurrency units and their ownership. The system defines whether new cryptocurrency units can be created.

What is crypto slang & acronyms?

The crypto world is full of technical jargon, slang, and acronyms. Here’s everything to know so you can join the conversation. If you’ve ever asked yourself, “What is a rug pull?” or are perplexed by acronyms like NGMI, IYKYK, and BTD — you’re not alone.

What are some common crypto terms?

Here are 25 common crypto terms you need to know. Address: An address is a string of characters that functions as a place where individuals can receive, store, or send cryptocurrency. Like a telephone number or zip code, every crypto address is unique. Altcoin: Altcoin means all cryptocurrencies that aren’t Bitcoin (and in some contexts, Ether).