Glossary

What is cryptocurrency?

Blockchain

Think of blockchain as a digital ledger that records transactions in a transparent, tamper-proof way. It’s a chain of transaction blocks linked chronologically.

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Blockchain Ledger

The blockchain ledger represents the beating heart of these groundbreaking networks. It constitutes an ever-expanding database registering all transactions transparently across the system.

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Dark Web

The “dark web” refers to parts of the internet only accessible through encryption software like Tor. The dark web provides high anonymity for users since it operates on encrypted networks.

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Decentralized

With normal currency, banks and governments control everything – they’re the central authority. But cryptocurrencies work differently! Instead of one central group calling all the shots, a decentralized cryptocurrency network spread out control across many participants around the world. This is called a decentralized system.

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Ethereum

Ether (ETH) is used to pay for computation and token swaps on Ethereum. Users “fuel” smart contracts and DApps with ETH.

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