What are off-chain transactions?
Even though Bitcoin is based on an immutable blockchain, there are hundreds more cryptocurrencies, and not all networks have transactions taking place directly on the chain. The off-chain transactions are transactions processed outside the blockchain. These are second layer protocols aimed at circumventing network weaknesses and enabling cheaper and faster transactions. How does it work? […]
What is the difference between the digital currency and a cryptocurrency?
Do you think digital currency and cryptocurrency are the same thing? Then this post for you because we explain differences between these similar (at first sight) concepts. 🔸 Definition Digital Currency is the digital format of fiat currency that you carry around in your wallet or withdraw from an ATM. Cryptocurrency is a store of value […]
Cryptocurrency is the new Gold Rush
The Startup Info Team made a great comparison of Bitcoin and gold. They established that for over the past 11 years since Bitcoin, the first cryptocurrency, was invented, it has portrayed similar gold-like characteristics: 🔸 Bitcoin’s structure limits its supply and makes mining more difficult with time like that of gold. 🔸 Cryptocurrency mining demands […]
Hold on for dear life. What is “HODL”?
Hodl is a slang term for those who buy cryptocurrencies and hold them (don’t sell) regardless of the market situation, corresponding to the buy-and-hold investment strategy. This term has strengthened in the cryptocurrency community in 2013 after a member of the Bitcointalk forum created a topic called “I am hodling” (he just made a typo […]
Where can you store the cryptocurrency?
A blockchain or crypto wallet is an easy way to manage, secure, and use cryptocurrencies and other digital assets based on a blockchain. But crypto wallets never store the actual cryptocurrency, they ensure the storage of keys to the crypto assets. There are two basic types of these wallets: Hot wallets are digital, as they […]
Smart Contract. What is it and how is it used?
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. It’s a computer analogue of ordinary contracts. But, unlike a legal contract, a smart contract has no legal force (yet). Consider an example. The trader and the buyer sign a contract with the […]
Let’s talk about Whales…
Whales are entities – individuals, institutions and exchanges – that hold significant amounts of tokens of a particular cryptocurrency. As a rule, “Сrypto Whales” are investment and hedge funds – large players whose power allows you to manipulate the price of tokens. On the other hand, “Bitcoin whales” are considered accounts that store 1,000 or […]
Types of cryptocurrencies
How many cryptocurrencies are there? Estimated that there are more than 4,500 different cryptocurrencies in circulation. Even though all of them are called currency, in fact there are different types of assets, including non-currency. Find out what blockchain assets exist: 🔸 Payment currencies – They can be used to buy goods and services like ordinary […]
What is NFT?
#CryptoDictionary. What is NFT? NFT (non-fungible token) – is a unique cryptographic token that runs on a blockchain. It cannot be exchanged for another, unlike cryptocurrency, money, or stocks. NFT is the digital certificate for any unique item: texts, images, digital works of art, game objects or characters, domain names, etc. Non-fungible tokens secure ownership […]
Ways to earn Cryptocurrency
You can make money with cryptocurrency in different ways. Sometimes it takes investment to earn an income, and sometimes it only requires time and effort. Let’s look at the 3 most popular ways to do this. 🔸 Investing is the long-term strategy of buying and holding crypto assets for some time. You need to identify […]