New to the Crypto World? Here Are the Terms to Know.
— Network, World, Cryptocurrencies, Terms, Traditional, Satoshi, Blockchain, Digital, Crypto, Know, Transactions, Bitcoin — 1 min read
Bitcoin is a digital token that can be sent electronically from one user to another, anywhere in the world. Bitcoin mining refers to the process through which new Bitcoins are created and given to computers helping to maintain the network. A single Bitcoin transaction now requires more than 2,000 kilowatt-hours of electricity, or enough energy to sustain the average U.S. household for 73 days. A Bitcoin can be divided out to eight decimal places, so you can send someone 0.00000001 Bitcoin. This smallest fraction of a Bitcoin — the penny of the Bitcoin world — is referred to a Satoshi, named after the pseudonymous creator of Bitcoin. Source