Cryptocurrency is a form of digital asset based on a network distributed over a large number of computers. This decentralized structure allows them to exist outside the control of governments and central authorities.
Some experts believe that blockchain and related technologies will change many industries, including financial and legal.
The benefits of cryptocurrencies include cheaper and faster money transfers and decentralized systems that do not collapse at a single point of failure.
The disadvantages of cryptocurrencies include the volatility of their prices, high energy consumption for mining and use in criminal activities.
An application-specific integrated circuit (ASIC) miner is a computerized device or hardware that uses an ASIC solely to mine bitcoin or another cryptocurrency.
Blockchain is a type of shared database that differs from a regular database in how it stores information; Blockchains store data in blocks, which are then linked to each other using cryptography.
Decentralized applications, also known as “dApps” or “dapps”, are digital applications that run on a network of blockchain computers instead of relying on a single computer.