Cryptocurrency was initially conceived as a way of as a virtual currency and alternative form of payment versus traditional banking.
Blockchain technology is often described as “hack-proof” because any hacker would need to modify all blocks simultaneously to ensure that the chain was in agreement.
The price of cryptocurrency is not regulated by any centralized authority, meaning that market forces dictate prices daily.
Every transaction includes three critical pieces of information: 1. Input 2. Output 3. Amount.
A hash function is a mathematical trick that takes data of any size, performs an operation on it, and outputs something of a fixed size.