Bitcoin for Beginners
Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.It is a decentralized digital currency without a central bank or single administrator that can be sent from user to Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. Bitcoin has been praised and criticized. Critics noted its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
Bitcoin (₿) is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software.It is a decentralized digital currency without a central bank or single administrator that can be sent from user to Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. Bitcoin has been praised and criticized. Critics noted its use in illegal transactions, the large amount of electricity used by miners, price volatility, and thefts from exchanges. Some economists, including several Nobel laureates, have characterized it as a speculative bubble. Bitcoin has also been used as an investment, although several regulatory agencies have issued investor alerts about bitcoin.
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MAJOR
CRYPTOCURRENCY
ABBREVIATIONS
GRC - Gridcoin - Gridcoin (ticker: GRC) is an
open source cryptocurrency which securely
rewards volunteer computing performed on
the BOINC, a distributed computing platform
that is home to over 30 science projects
spanning a range of scientific disciplines.
LTC - Litecoin - Litecoin (LTC or Ł) is a peerto-peer
cryptocurrency and open-source
software project released under the MIT/X11
license.
MZC - Mazacoin - MazaCoin (MZC) is a
decentralised open-source cryptocurrency
forked from Zetacoin in March 2014. It was
conceived as a result of signing a
memorandum of understanding with the
Oglala Sioux Tribe, a native American tribe in
North America.
Nano - Nano is a software designed to
facilitate fee-free cryptocurrency transactions.
... When transactions are made, Nano users
exchange NANO cryptocurrency and update
their own ledgers.
Neo - The NEO platform allows for linking the
physical asset with an equivalent and unique
digital avatar on its network.
NMC - Namecoin - Namecoin is a
cryptocurrency forked from. bitcoin. It was
developed to decentralize domain names so
that the Internet would not have a centralized
infrastructure.
Nxt - NXT - Nxt is an open source
cryptocurrency and payment network
launched in 2013 by anonymous software
developer BCNext.
POT - Potcoin - Potcoin is a digital currency
that allows consumers to buy and sell
cannabis products anonymously.
PPC - Peercoin - Peercoin is an alternative
cryptocurrency launched in August 2012 and
is based on the Bitcoin framework. Peercoin is
also referred to as PPCoin, Peer-to-Peer Coin
and P2P Coin.
TIT - Titcoin - Titcoin (Ticker Symbol: TIT) is a
type of digital currency called a
cryptocurrency that uses pornography on a
decentralized peer-to-peer network to
manage the issuance of new currency units
while simultaneously processing transactions.
USDC - USD Coin (stablecoin) - USD Coin
(USDC) is a relatively fresh stablecoin pegged
to the US dollar. ... USDC is an alternative to
other USD backed cryptocurrencies like
Tether (USDT) or TrueUSD (TUSD). In a
nutshell, USD Coin is a service to tokenize US
dollars and facilitate their use over the
internet and public blockchains.
USDT - Tether - Tether is a blockchain-based
cryptocurrency whose crypto coins in
circulation are backed by an equivalent
amount of traditional fiat currencies, like the
dollar, the euro or the Japanese yen, which
are held in a designated bank account.
VTC - Vertcoin - Vertcoin is a cryptocurrency
which is like Bitcoin and Litecoin, in that it has
an added focus on keeping the ecosystem as
decentralized as possible.
XEM - NEM - NEM stands for the New
Economy Movement. Like Ethereum, Waves,
and NEO, NEM is both a cryptocurrency and a
platform for building applications on top of.
XLM - Stellar - Stellar refers to both the
Stellar network and the cryptocurrency
associated with it, the Stellar Lumens (XLM).
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