Day 2 - Learn All Crypto Terms in 30 Days🔥
👉Altcoin 💰
Altcoin refers to all cryptocurrencies that are not Bitcoin. Notable altcoins include Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and many others, each with its own characteristics and applications.
👉Smart Contract 📝
A smart contract is an automatically executed agreement that enforces its terms when conditions are met. The most popular smart contracts are on the Ethereum platform, facilitating the creation of decentralized applications (dApps).
Example SC of wallet address $ETH : 0xd99ac0681b904991169...
👉Fork 🔄
A fork is the process of splitting a blockchain into two branches, with a hard fork creating an entirely new blockchain and a soft fork maintaining compatibility with older versions. A fork may be justified when the blockchain community needs to change operational rules to improve or resolve issues within the system.
- Hard Fork: Bitcoin and Bitcoin Cash - - Creates a new and completely separate blockchain.
- Soft Fork: Bitcoin and SegWit - - Enhances features without completely changing compatibility with the older version.
👉Mining ⛏️
The process of mining cryptocurrency by solving complex problems. Miners are rewarded with the coins they mine, such as Bitcoin (BTC) or Ethereum (ETH).
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