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The coin that started it all is a decentralized digital currency, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. The cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
Altcoin is any digital cryptocurrency similar to Bitcoin. The term is said to stand for “alternative to Bitcoin” and is used describe any cryptocurrency that is not a Bitcoin. Altcoins are created by diverging from Bitcoin consensus rules (the fundamental rules of the cryptocurrency’s network) or by developing a new cryptocurrency from scratch. Litecoin, Dogecoin, Shiba, Etheruem are just a few examples of altcoins.
A faucet is a cryptocurrency reward system which gives out small amounts of coins or tokens to registered users. Faucets are so-called since they usually ‘drip’ fractional amounts of cryptocurrency at certain time intervals. These systems come in the form of websites or mobile apps and typically require users to register with their cryptocurrency public address and email address.
Miner is an individual, company, or institution that mines cryptocurrency. In other words, they use their computers to process other people’s transactions and add them to the blockchain. Miners are essential since they are responsible for running the blockchain network and keeping it secure.
Wallet is an app, or device that allows cryptocurrency users to store and retrieve their digital assets. As with conventional currency, you don’t need a wallet to spend your cash, but it certainly helps to keep it all in one place
is a platform that promotes the trade of cryptocurrencies using digital money, fiat money or other assets. These exchanges are the intermediaries between parties and make money from transaction fees and commissions. It is also be called a digital currency exchange or DCE.