Bitcoin is a digital or virtual currency that uses peer-to-peer technology to facilitate instant payments. Bitcoin is a decentralized currency, meaning there is no one central authority that controls the supply of bitcoin or sets its value. Bitcoin is created through a process called "mining," in which participants verify and record payments into a public ledger called a blockchain. Bitcoin can be used to purchase goods and services online, or can be held as an investment.
What Is Ethereum?
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. Ethereum is a distributed public blockchain network. Ethereum is powered by ether, a cryptocurrency whose value is determined by the market.
What Is a Cryptocurrency?
A cryptocurrency is a digital or virtual currency that uses cryptography to secure its transactions and to control the creation of new units. Cryptocurrencies are decentralized, meaning there is no one central authority that controls them. Bitcoin, Ethereum, and Litecoin are all examples of cryptocurrencies.
What Is Bitcoin Mining?
Bitcoin mining is the process of verifying and recording payments into a public ledger called a blockchain. Bitcoin miners are rewarded with bitcoin for verifying and recording payments into the blockchain. Miners are able to verify and record payments into the blockchain by solving a mathematical puzzle.
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