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Bitcoin/Cryptocurrency Glossary (11)

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9 !@$*
Hardware | tech
1. GPU - Graphics Processing Unit
2. Mining - Process of creating new coins
3.Bitcoin - The first crypto-currency
4.Hash - process or function that takes an input and creates a unique output that can't be reversed. Same input will always create same output
5.SHA256 - Simple Hashing Algorithm 256 bits
6.Block - bitcoins transactions grouped together by miners to verify the transactions. Occurs every 10 minutes on average.
7.Blockchain - A shared file containing all Bitcoin transactions from day 1 which is created by miners contains a chain of blocks
8.Opensource - Mechanism to develop software that is free and anyone can contribute to
9.Crypto-Currency - Digital currency like Bitcoin that uses Cryptography to maintain privacy and accuracy of who owe what
10.Proof-of-work - Used in mining to make it very hard to create fake data in the block-chain
11.Ledger - File aka Blockchain where all transactions are recorded
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