Blockchain Simple Dictionary
Blockchain: a digital ledger where transactions made in bitcoin or other cryptocurrencies are recorded chronologically for the public to see.
Symbols associated with ‘blockchain’: block or cube, chain link, ledger, network.
Cryptocurrency: digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank or certain country.
There are over 800 types of cryptocurrency as of 2017. Some of the top cryptocurrencies in terms of market cap and popular use include: Bitcoin, Ethereum, Ripple, Litecoin, NEM, Ethereum Classic, Dash, IOTA, Monero, Stratis, EOS, BitShares, Veritaseum, Antshares, BitConnect, Zcash, Steem, Waves, Qtum, Tether, Iconomi, Status, SiaCoin, ByteCoin, Golem.
Cryptography: The art of writing or solving codes.
Symbols associated with cryptogrpahy: lock, key, binary code, mathematics equations.
Network: a group or system of interconnected people or things.
Symbols associated with a network: system, net, matrix, web.
Hash: Like all computer data, hashes are large numbers, and are usually written as hexadecimal. BitCoin uses the SHA-256 hash algorithm to generate verifiably “random” numbers in a way that requires a predictable amount of CPU effort.
Hash Rate: The measuring unit of the processing power of the Bitcoin network. The Bitcoin network must make intensive mathematical operations for security purposes. When the network reached a hash rate of 10 Th/s, it meant it could make 10 trillion calculations per second.
Mining: There are several different cryptocurrencies that can be mined. Bitcoin mining specifically is the process of the transaction information distributed within the Bitcoin network is validated and stored on the blockchain. Mining is a term used to describe the processing and confirmation of payments on the Bitcoin network.
Bit Club Network is a site that you can use to mine Bitcoin, Ethereum, and other cryptocurrencies. Take a look at how to to that here: http://bitclub.network/mitchmahoney
A data center packed with computers setup to mine Bitcoin and Ethereum.
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..real basic stuff in superclear words!..pls moe..follow you..upvoted..
Thanks @enjoykarma, I appreciate it. I will be expanding on these definitions and adding more technical definitions and processes as well.