Digital money is money in a purely digital form. It is not a physical asset like cash or other commodities like gold or oil.
Digital money can optimize the current financial infrastructure, making money transactions cheaper and faster. It may also facilitate the conduct of monetary policy by central banks.
Examples of types of digital money are cryptocurrencies, central bank digital currencies and stablecoins.
Digital money is susceptible to hacking and can compromise user privacy.
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.
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.
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.