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 at least one Bitcoin component. Popular altcoins are Litecoin, Ethereum, Dogecoin etc.
Read moreWhat is an ASIC? Short for Application-Specific Integrated Circuit, an ASIC is a dedicated piece of hardware used for, in this context, crypto-currency mining. ASICs are designed with a singular purpose in mind: to mine a certain crypto currency using that currency’s specific algorithm. Each crypto currency has its own algorithm through which it enforces…
Read moreWhat 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 way users transact with one another. In order to prevent one user withholding their agreed…
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