Article : THE BLOCKCHAIN UNIVERSE
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THE BLOCKCHAIN UNIVERSE
The blockchain is a public network of data or a database which stores information important in the digital cryptocurrency. The blockchain technology aids the encryption of certain transaction giving it its fidelity and keeping transactions safe too. I would be sharing some basic knowlege we should know about the cryptocurrency.
PUBLIC KEY :
This is the address showing the location of a specific cryptocurrency wallet. It gives insight information on where to find a particular digital cryptocurrency.
PRIVATE KEY :
This is a high intense security key, an encryption phase required to access the cryptocurrency. It cannot be told to anyone. It requires high confidential fidelity.
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FORK :
This is an offshoot of a cryptocurrency which has become autonomous gaining full control as an individual asset.
STAKING :
This is a reward with incentives or dividend for someone who holds up with a cryptocurrency asset on a long or short notice.
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MINING :
This is a simple process of forming blocks and affirming transactions on the blockchain to increase personal asset profitability.
FARMING :
This is a type of mining, where you get one cryptocurrency as a trophy price for staking another cryptocurrency prior to the reward.
HASH RATE :
The performance of a mining equipment. It is an honest measurement of how efficiently the equipment used in mining performs such task efficiently.
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FARM :
This is usually a computerised device containing several video cords and intertwined topology system designed for mining coins.
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LIQUIDITY :
This is a measure of how quickly a digital asset can be sold out at its current rate or its market value.
CUTLET :
This is a big bundle of cash or money a block of cash mostly fiat related a global currency.
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FIAT :
This is a traditional currency basically used in the stock market exchange or most world trade such as dollars euro and pounds.
HODL :
A term used by cryprocurrency investors to explain those that refuse to sell their cryptocurrency regardless of fluctuation in price either increase or decrease.