1. What is Bitcoin?
Bitcoin is a decentralized digital currency supported by the Bitcoin blockchain network. It is designed not to rely on any financial institutions.
It has high security and anonymity.
2. What is blockchain?
Blockchain is the underlying technology of Bitcoin and other cryptocurrencies, a decentralized distributed ledger. It records all transaction information.
and ensure the security and accuracy of data through encryption and consensus mechanisms.
3. What is an exchange?
An exchange is a platform for buying and selling digital currencies, allowing users to trade different digital currencies. You can buy or sell Bitcoin through an exchange.
and other digital currencies.
4. What is a wallet?
A wallet is a tool used to store and manage digital currencies. It can be a software wallet, hardware wallet, or online wallet. Users can
use a wallet to send and receive digital currencies and check balances and transaction history.
5. What is mining?
Mining is the process of verifying and processing Bitcoin transactions by solving complex mathematical problems. Miners maintain
the Bitcoin network by providing computational power and receive a certain amount of Bitcoin as a reward.
6. What is ICO?
ICO (Initial Coin Offering) is a crowdfunding model where businesses or projects issue new digital currencies to raise funds.
Investors can purchase these newly issued digital currencies and expect their value to rise in the future.
7. What is a white paper?
A white paper is a detailed project introduction and planning document, typically published by cryptocurrency project teams.
It contains information about the project's goals, technical architecture, business model, etc., helping investors understand the potential and feasibility of the project.
8. What is market capitalization?
Market capitalization refers to the total market value of a digital currency, which is the current price of the digital currency multiplied by its total supply.
Market capitalization can reflect the position and influence of a digital currency in the market.
I hope the above simple illustrations can help everyone quickly understand the basic introductory knowledge of the cryptocurrency world. Before entering the cryptocurrency space.
be sure to make adequate preparations and risk assessments, and invest cautiously.
The cryptocurrency space is a field full of opportunities and risks. Only by continuously learning and accumulating knowledge can one better participate.
