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Cryptocurrency Meaning In English

Cryptocurrency | Definition Of Cryptocurrency In English By Oxford Dictionaries

Cryptocurrency | Definition Of Cryptocurrency In English By Oxford Dictionaries

A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation Even with recent fluctuations, the total value of the cryptocurrency is still over eight billion USD. Against all wisdom, I had invested $1,000 in bitcoin, the cryptocurrency whose value had been skyrocketing since the start of the year. As with all cryptocurrencies, price is based on supply and demand. States will undoubtedly resist the spread of cryptocurrencies. A cryptocurrency may be hackable, but it can also be really, really, really hard to hackharder than robbing a bank. If cryptocurrencies are like other speculative activities, the early players and the big players benefit to the detriment of the late entrants and the small players. Bitcoin was the first widely used cryptocurrency, but few people know it is not the only one. What does your cryptocurrency allow people to do that they could not do otherwise, and how does it help them do existing tasks more quickly or cheaply? Most successful cryptocurrencies have an active community where people devote time with no expectation of payment. A group of online entrepreneurs were planning to launch the new cryptocurrency on Thursday. The majority of cryptocurrency activity still appears to be speculative. Early 21st century: from crypto- + currency. Continue reading >>

What Is Bitcoin? - Cnnmoney

What Is Bitcoin? - Cnnmoney

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures. Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value. Several marketplaces called “bitcoin exchanges” allow people to buy or sell bitcoins using different currencies. Mt. Gox is the largest bitcoin exchange. People can send bitcoins to each other using mobile apps or their computers. It’s similar to sending cash digitally. People compete to “mine” bitcoins using computers to solve complex math puzzles. This is how bitcoins are created. Currently, a winner is rewarded with 25 bitcoins roughly every 10 minutes. Bitcoins are stored in a “digital wallet,” which exists either in the cloud or on a user’s computer. The wallet is a kind of virtual bank account that allows users to send or receive bitcoins, pay for goods or save their money. Unlike bank accounts, bitcoin wallets are not insured by the FDIC. Wallet in cloud: Servers have been hacked. Companies have fled with clients’ Bitcoins. Wallet on computer: You can accidentally delete them. Viruses could destroy them. Though each bitcoin transaction is recorded in a public log, names of buyers and sellers are never revealed – only their wallet IDs. While that keeps bitcoin users’ transactions Continue reading >>

Cryptocurrencies Explained, In Plain English

Cryptocurrencies Explained, In Plain English

Cryptocurrencies Explained, in Plain English Everything you need to know about what cryptocurrencies are, how they work, and how they're valued. By now you've probably heard about the cryptocurrency craze. Either a family member, friend, neighbor, doctor, Uber driver, sales associate, server, barista, or passer-by on the street, has probably told you how he or she is getting rich quick with virtual currencies like bitcoin, Ethereum, Ripple, or one of the lesser-known 1,300-plus investable cryptocurrencies. But how much do you really know about them? Considering just how many questions I've received out of the blue from the aforementioned group of people over the last month, the answer is probably, "not a lot." Today, we'll change that. We're going to walk through the basics of cryptocurrencies, step by step, and explain things in plain English. No crazy technical jargon here. Just sticks and stones examples of how today's cryptocurrencies work, what they're ultimately trying to accomplish, and how they're being valued. Simply put, cryptocurrencies are electronic peer-to-peer currencies. They don't physically exist. You can't pick up a bitcoin and hold it in your hand, or pull one out of your wallet. But just because you can't physically hold a bitcoin, it doesn't mean they aren't worth anything, as you've probably noticed by the rapidly rising prices of virtual currencies over the past couples of months. The number is always changing, but according to CoinMarketCap.com as of Dec. 30, there were around 1,375 different virtual coins that investors could potentially buy. It's worth noting that the barrier to entry is particularly low among cryptocurrencies. In other words, this means that if you have time, money, and a team of people that understands how to write computer Continue reading >>

How Does Bitcoin Work?

How Does Bitcoin Work?

This is a question that often causes confusion. Here's a quick explanation! As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once. The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography . A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining . Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions Continue reading >>

'cryptocurrency' Officially Added To Oxford Dictionary Online

'cryptocurrency' Officially Added To Oxford Dictionary Online

'Cryptocurrency' Officially Added to Oxford Dictionary Online May 20, 2014 at 16:55 UTC|UpdatedMay 20, 2014 at 17:25 UTC Oxford Dictionaries Online (ODO) has officially added the word 'cryptocurrency' to its database.The decision was made as part of a quarterly update this May that also included the words 'bikeable', 'snacky' and 'time suck'. The announcement follows the August 2013 update that saw 'bitcoin' added to the respected resource . At the time, the ODO told CoinDesk that bitcoin was added due to its significant presence online and in the mainstream media. The ODO's addition of 'cryptocurrency' indicates that the organisation views it as a recent term that has emerged to become " significant or important ", and that it believes the word could become more widely used. "A digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank." The ODO further provided example sentences that, in part, aim to sum up the values of those who are interested in the industry and community. "Decentralized cryptocurrencies such as bitcoin now provide an outlet for personal wealth that is beyond restriction and confiscation." Additional sentences describe how cryptocurrencies are valued based on supply and demand, and highlight that the total value of the market is more than $8bn. While notable to the bitcoin community, the ODO is notably the organisation's online-only resource on contemporary English that includes modern meanings of many traditional words. As noted by Angus Stevenson, Head of Dictionary Projects at Oxford University Press in a 2013 interview with CoinDesk, inclusion in the ODO "doesn't make any judgement on whether [the word] is good, bad, worthw Continue reading >>

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

Still Don't Get Bitcoin? Here's An Explanation For Five-year-olds

If you still cant figure out what the heck a bitcoin is, this simple explanation for a five-year-old may help you ... Were sitting on a park bench. Its a great day.I have one apple with me, I give it to you. You now have one apple and I have zero.That was simple, right? My apple was physically put into your hand.You know it happened. I was there, you were there you touched it. We didnt need athird personthere to help us make the transfer. We didnt need to pull in Uncle Tommy (whos a famous judge) to sit with us on the bench and confirm that the apple went from me to you. The apples yours! Icantgive you another apple because I dont have any left. I cant control it anymore. The apple left my possession completely. You have full control over that apple now. You can give it to your friend if you want, and then that friend can give it to his friend, and so on. So thats what an in-person exchange looks like. I guess its really the same, whether Im giving you a banana, a book, a quarter, or adollar bill Now, let's say I have onedigitalapple. Here, Ill give you mydigitalapple. Ah! Now it gets interesting. How do you knowthatdigital apple which used to be mine, is now yours, and only yours? Think about it for a second.Its more complicated, right? How do you know that I didnt send that apple to Uncle Tommy as an email attachment first? Or your friend Joe? Or my friend Lisa too? Maybe I made a couple of copies of that digital apple on my computer. Maybe I put it up on the internet and one million people downloaded it. As you see, this digital exchange is a bit of a problem.Sendingdigitalapples doesnt look like sendingphysicalapples. Some brainy computer scientists actually have a name for this problem: its called the double-spending problem . But dont worry about it. All you need Continue reading >>

Oxford Dictionaries Adds New Definitions For 'blockchain' And 'miner'

Oxford Dictionaries Adds New Definitions For 'blockchain' And 'miner'

Aug 27, 2015 at 20:25 UTC|UpdatedAug 28, 2015 at 17:00 UTC OxfordDictionaries.com, the online language resource owned by the Oxford University Press, has added new cryptocurrency-related definitions. The site outlined its latest additions in a new blog post , a list that also included "hangry", "butt-dial", "Redditor", "rage-quit" and "bants", among others. A "blockchain", according to the site , is a noun defined as: "A digital ledger in which transactions made in bitcoinor another cryptocurrency are recordedchronologically and publicly." The resource added new definitions for terms related to bitcoin mining as well, according to Katherine Connor Martin, head of US dictionaries for the Oxford University Press. The updated definitionfor the noun " miner " includes: "A person who obtains units of a cryptocurrency by running computer processes to solvespecific mathematical problems." The verb " mine " has a new section as well: "[To] obtain units of (a cryptocurrency) by running a computer process to solve specificmathematical problems." The inclusionscomeroughly two years after the site added "bitcoin" to its list of definitions. OxfordDictionaries.com is distinct from the Oxford English Dictionary. According to its publisher, whereas the site "focuses on the current language and practical usage", the Oxford English Dictionary is aimed at portraying "how words and meanings have changed over time". The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies . CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Continue reading >>

Bitcoin Segwit2x: A Plain English Guide | Fortune

Bitcoin Segwit2x: A Plain English Guide | Fortune

(Important update: The leaders of the SegWit2X faction announced on Wednesday, November 8 they would suspend their plan to split bitcoin in mid-November.) Bitcoin has faced turmoil in the past but nothing like this. In two weeks, a massive fight taking place among bitcoin insiders could produce a ruinous schismundermining the integrity of digital currency and threatening its sky-high value. The fight is over a so-called fork in bitcoins software, known as SegWit2x, that will create two competing versions of the currency and lead to disagreement over the real bitcoin. Theres even a battle over who gets to use the popular BTC ticker symbol. The fork will also mean a payout to existing bitcoin holders, though any windfall could be overshadowed by larger turmoil. To understand whats at stake, heres a plain English Q&A to explain the controversy. There is a disagreement between key stakeholders over how to update the core software that runs bitcoin. You can learn more about the technical details below, but the crux of the fight is over whether to double the size of bitcoin blocks. The blocks, which are added every 10 minutes, serve as a record of all bitcoin transactions to create a permanent blockchain ledger. The current controversy means there is likely to be two bitcoin blockchainsone that uses smaller 1MB blocks and one that uses bigger 2MB blocksand temporary uncertainty over which is the real bitcoin. While bitcoin has experienced these sort of forks in the past (most notably with the creation this summer of rival currency Bitcoin Cash ,) the market has never regarded such splits as a replacement for the original bitcoin. This time could be different. It is supposed to take place soon. This website offers a more precise moment specifically Nov. 16 at 5:42 ambased on Continue reading >>

Blockchain, Cryptocurrency, And Ico Make Their Way Into Websters Dictionary

Blockchain, Cryptocurrency, And Ico Make Their Way Into Websters Dictionary

The crypto craze is spreading like wildfire, and it doesnt seem like its going stop anytime soon. The Merriam Webster dictionary , which is Americas most trusted online dictionary for the Queens language, has caught the crypto-fever. The highly reputable dictionary for English word definitions, pronunciation and meanings have added cryptocurrency, initial coin offerings and blockchain to its database of English words. For some, anything that doesnt have its word and meaning in the dictionary is non-existent. Blockchain technology , cryptocurrency , and initial coin offering (ICO) have officially entered into the dictionary. The English language is one of the most dynamic languages in the world, with new words added to the dictionary regularly. On March 5, 2018, Merriam Webster stated in a press release that it had updated its dictionary, adding 850 new words, phrases and new meanings for existing words; including cryptocurrency, blockchain and initial coin offering. The language doesnt take a vacation, and neither does the dictionary. The words we use are constantly changing in big ways and small, and were here to record those changes. Emily Brewster, an associate editor at Merriam Webster, said, In order for a word to be added to the dictionary, it must have a widespread, sustained and meaningful use. These new words have been added to the dictionary because they have become established members of the English language and are terms people are likely to encounter. The Merriam Webster dictionary defines cryptocurrency as any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent Continue reading >>

Cryptocurrency - Wikipedia

Cryptocurrency - Wikipedia

HitBTC cryptocurrency exchange terminal window A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions, to control the creation of additional units, and to verify the transfer of assets. [1] [2] [3] Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies . Bitcoin , created in 2009, was the first decentralized cryptocurrency. [4] Since then, numerous cryptocurrencies have been created. [5] These are frequently called altcoins, as a blend of bitcoin alternative. [6] [7] [8] Bitcoin and its derivatives use decentralized control [9] as opposed to centralized electronic money / central banking systems. [10] The decentralized control is related to the use of bitcoin's blockchain transaction database in the role of a distributed ledger . [11] Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System , corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto . [12] As of September 2017 [update] , over a thousand cryptocurrency specifications exist; most are simil Continue reading >>

Cryptocurrency Definition | Investopedia

Cryptocurrency Definition | Investopedia

The anonymous nature of cryptocurrency transactions makes them well-suited for a host of nefarious activities, such as money laundering and tax evasion . The first cryptocurrency to capture the public imagination was Bitcoin , which was launched in 2009 by an individual or group known under the pseudonym Satoshi Nakamoto. As of September 2015, there were over 14.6 million bitcoins in circulation with a total market value of $3.4 billion. Bitcoin's success has spawned a number of competing cryptocurrencies, such as Litecoin , Namecoin and PPCoin. Cryptocurrencies make it easier to transfer funds between two parties in a transaction; these transfers are facilitated through the use of public and private keys for security purposes. These fund transfers are done with minimal processing fees, allowing users to avoid the steep fees charged by most banks and financial institutions for wire transfers . Central to the genius of Bitcoin is the block chain it uses to store an online ledger of all the transactions that have ever been conducted using bitcoins, providing a data structure for this ledger that is exposed to a limited threat from hackers and can be copied across all computers running Bitcoin software. Many experts see this block chain as having important uses in technologies, such as online voting and crowdfunding, and major financial institutions such as JP Morgan Chase see potential in cryptocurrencies to lower transaction costs by making payment processing more efficient. However, because cryptocurrencies are virtual and do not have a central repository, a digital cryptocurrency balance can be wiped out by a computer crash if a backup copy of the holdings does not exist. Since prices are based on supply and demand, the rate at which a cryptocurrency can be exchanged Continue reading >>

What Is Cryptocurrency? - Definition From Whatis.com

What Is Cryptocurrency? - Definition From Whatis.com

virtual agent (intelligent virtual agent or virtual rep) A cryptocurrency is a digital medium of exchange that uses encryption to secure the processes involved in generating units and conducting transactions. Cryptocurrencies are a subset of digital currencies and, as such, have no physical representation. They may beused for online orin-person transactions with any vendors who accept them.In-person transactions using cryptocurrencies aretypically conductedthrough mobile payment from a digital wallet . There are hundreds of cryptocurrencies around the world. Among them, Bitcoin is the most prominent example -- in fact, other cryptocurrencies are sometimes referred to as altcoins, as in alternatives to Bitcoin. The Bitcoin protocol enables peer-to-peer ( P2P ) exchange in a decentralized system that, unlike conventional currencies,is not associated with any financial institution or government. Bitcoin-to-Bitcoin transactions are conducted through anonymous, heavily encrypted hash codes across a peer-to-peer network.Each users digital wallet maintains their Bitcoins. The wallet also stores all addresses the user sends and receives Bitcoins from, along with a private key known only to the user. The P2P network monitors and verifies Bitcoin transfers. Other cryptocurrencies include Litecoin, primecoin, Namecoin and Feathercoin. Paul Vigna provides a crash course on cryptocurrencies: Continue reading >>

What Is The Equivalent Tamil Word For

What Is The Equivalent Tamil Word For "cryptocurrency"?

Cryptocurrency should be translated into Tamil as and this will be the real meaning as this currency is secretive in nature. Literal translation could be There is lot of ways to provide Tamil word for everything but how much will it be useful or used in practice is the question This is what Google told me. I'm assuming the word 'crypto' doesn't have any specific meaning since it is derived from the term 'Cryptography' which is an essential process in networking. And then currency simple means ''. So there you go, hope this helped. :) meaning internet money. These two words are already popular with Tamil educated crowd. I think, literal meaning will not work here. I dont think there is a tamil word(yet) for cryptocurrency. But judging the nature of cryptocurrency(being digital currency and being encrypted one), one can assume few equivalents (MenPanam) ==> relates to Digital Money (NunPanam) ==> relates being Micro Money (MarmaPanam) ==> relates being encrypted and untraceable Money The word (Panam) can also be interchanged with (Nanayam, meaning coin) as BitCoin is the most widely used cryptocurrency. Just so to keep the names somewhat related to the term. Continue reading >>

Merriam Webster Adds New Definitions: Dumpster Fire, Cryptocurrency

Merriam Webster Adds New Definitions: Dumpster Fire, Cryptocurrency

To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Cryptocurrency, dumpster fire, mansplain: These are Merriam-Webster Dictionary's newly defined words USA Today Network Ashley May , USA TODAY Published 11:21 a.m. ET March 6, 2018 As society develops, so does our dialogue. Merriam-Webster is adding 850 new words to it's dictionary, including mansplain, wordie and cryptocurrency. Buzz60 Merriam-Webster recently added new definitions to 850 terms. When disaster isnt enough, dumpster fire might ignite a better description oflifes catastrophes. The informal noun is one of 850 new words and definitions recently added to Merriam-Webster.com. An example listed in the new entry shows how to use the term in a sentence: "So while 2017 has been, by many measures, a completedumpster fireof a year, New Yorkers can at the very least take refuge in the fact that their city is becoming an even safer place to live.Clayton Guse" Other new additions: Glamping (glamorous + camping), dark chocolate (which has more cocoa than milk chocolate), case-sensitive (darn those password requirements), life hack and hate-watch (because sometimes it's hard to look away). Cryptocurrency was also updated to reflect the digital currency made popular by bitcoin hitting mainstream in 2014. The dictionary followed Oxford English Dictionary's lead in adding mansplain , defined as explaining something to a woman in a condescending way. More: 'Hangry' added to Oxford English Dictionary, because irritable hunger happens New words for foodies include: Harissa, a spicy North African paste;tzatziki, a Greek yogurt sauce made with cucumbers and garlic; and kombucha, a fermented drink. Still at a loss for words? Try hmm , ooh , mm-hmm and welp all recent adds thanks to textin Continue reading >>

What Is Cryptocurrency? - Definition From Whatis.com

What Is Cryptocurrency? - Definition From Whatis.com

A cryptocurrency is a digital medium of exchange that uses encryption to secure the processes involved in generating units and conducting transactions. Cryptocurrencies are a subset of digital currencies and, as such, have no physical representation. They may beused for online orin-person transactions with any vendors who accept them.In-person transactions using cryptocurrencies aretypically conductedthrough mobile payment from a digital wallet . There are hundreds of cryptocurrencies around the world. Among them, Bitcoin is the most prominent example -- in fact, other cryptocurrencies are sometimes referred to as altcoins, as in alternatives to Bitcoin. The Bitcoin protocol enables peer-to-peer ( P2P ) exchange in a decentralized system that, unlike conventional currencies,is not associated with any financial institution or government. Bitcoin-to-Bitcoin transactions are conducted through anonymous, heavily encrypted hash codes across a peer-to-peer network.Each users digital wallet maintains their Bitcoins. The wallet also stores all addresses the user sends and receives Bitcoins from, along with a private key known only to the user. The P2P network monitors and verifies Bitcoin transfers. Other cryptocurrencies include Litecoin, primecoin, Namecoin and Feathercoin. Paul Vigna provides a crash course on cryptocurrencies: Continue reading >>

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