Things you should know about Bitcoin

9 Articles in this section

What is a Bitcoin?

Bitcoin - with capitalization, is used when describing the concept of Bitcoin, or the entire network itself. e.g. "I was learning about the Bitcoin protocol today." bitcoin - without capitalization,...

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Andrew Corbin 2 years ago - Created
What is a Bitcoin Address?

A Bitcoin address is similar to a physical address or an email. It is the only information you need to provide for someone to pay you with Bitcoin. An important difference, however, is that each addre...

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Andrew Corbin 2 years ago - Created
What is a Block?

A block is a record in the blockchain that contains and confirms many waiting transactions. Roughly every 10 minutes, on average, a new block including transactions is appended to the blockchain throu...

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Andrew Corbin 2 years ago - Created
What is a Blockchain?

The block chain is a public record of Bitcoin transactions in chronological order. The block chain is shared between all Bitcoin users. It is used to verify the permanence of Bitcoin transactions and...

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Andrew Corbin 2 years ago - Created
What does Confirmation mean?

Confirmation means that a transaction has been processed by the network and is highly unlikely to be reversed.Transactions receive a confirmation when they are included in a block and for each subsequ...

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Andrew Corbin 2 years ago - Created
What is a Double spend?

If a malicious user tries to spend their bitcoins to two different recipients at the same time, this is double spending.Bitcoin mining and the blockchain are there to create a consensus on the network...

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Andrew Corbin 2 years ago - Created
What is a Hash rate?

The hash rate is the measuring unit of the processing power of the Bitcoin network. The Bitcoin network must make intensive mathematical operations for security purposes. When the network reached a ha...

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Andrew Corbin 2 years ago - Created
What is Bitcoin Mining?

Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. As a reward for their services, Bitcoin mi...

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Andrew Corbin 2 years ago - Created
What is a Bitcoin Wallet?

A Bitcoin wallet is loosely the equivalent of a physical wallet on the Bitcoin network.The wallet actually contains your private key(s) which allow you to spend the bitcoins allocated to it in the blo...

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Andrew Corbin 2 years ago - Created