51% Attack

What is a 51% attack? A 51% attack is an attack on a proof of work blockchain where a group of miners controlling more than 50% of the network’s mining hash use this power to prevent new transactions from being…

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Altcoins

Altcoin

The word “altcoin” is an abbreviation of “Bitcoin alternative,” and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon…

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ASIC

What is an ASIC? Short for Application-Specific Integrated Circuit, an ASIC is a dedicated piece of hardware used for, in this context, cryptocurrency mining. ASICs are designed with a singular purpose in mind: to mine a certain cryptocurrency using that…

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Atomic Swap

What is an atomic swap? An atomic swap is the exchange of one type of cryptocurrency for another—like bitcoin swapped for ethereum—without the supervision of a trusted third party. A relatively new notion, cross-chain atomic swapping looks to change the…

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Basil Committee

Basel Committee on Banking Supervision (BCBS) is a committee formed in 1974 by central bank governors to develop banking regulations standards and enhance the quality of banking supervision around the world. The original committee was comprised of the 10 countries…

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Binance Chain Evolution Proposal (BEP)

What is BEP? BEP is short for Binance Chain Evolution Proposal. In short, BEP is a list of token management rules and pre-defined criteria to help launch on-chain assets on Binance Chain. Projects use this BEP to transition their tokens…

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Bitcoin

Bitcoin

Bitcoin is a digital currency (also called crypto-currency) that is not backed by any country’s central bank or government. Bitcoins can be traded for goods or services with vendors who accept Bitcoins as payment. Bitcoin-to- Bitcoin transactions are made by…

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Bitcoin Address

Bitcoin Address

A bitcoin address is a cryptographic key that “owns” bitcoins. This address is used to uniquely identify bitcoins. The person or persons who know the corresponding private key can send those bitcoins to any other address. The cryptographic keys that…

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Bitcoin ATM (BATM)

A business that operates physical kiosks that allow a person to purchase Bitcoin by using cash or debit card. Some Bitcoin ATMs offer bi-directional functionality enabling both the purchase of Bitcoin as well as the sale of Bitcoin for cash.…

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Bitcoin Wallet

Bitcoin Wallet

A Bitcoin wallet is a software program where Bitcoins are stored. To be technically accurate, Bitcoins are not stored anywhere; there is a private key (secret number) for every Bitcoin address that is saved in the Bitcoin wallet of the…

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