Over 1300
cryptocurrencies right now, a total market cap of over 300 billion USD, with bitcoin
dominance at 55%
Blockchain – A digital ledger
maintaining records of transactions
Cryptocurrency – A digital asset
designed to work as a medium of exchange
Bitcoin – The first and most
popular decentralized cryptocurrency
Satoshi – Unit of measurement of
a bitcoin (1 Satoshi = 0.00000001 bitcoin)
Mining – Process by which
transactions are verified and added to the public ledger(blockchain), and also
the means through which new bitcoins are released(as reward for verification)
Altcoins (Alternative coins) -
Other cryptocurrencies
ICO (Initial
coin offering) – Similar to an IPO, a cryptocurrency can enter the market
through an ICO
There are
over 1,300 cryptocurrencies right now, a total market cap of over 300 billion
USD, with bitcoin dominance at 55%
Indian
crypto wallets / Exchanges undertake self-regulation - asking users for
PAN / Aadhar, and linking the wallet to user’s bank account
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