In this section you can find all the Cryptocurrency definitions with easy to understand explanations and paradigms.
What to mine after Ethereum’s switch to PoS
A very nice read about the upcoming Ethereum's switch from Proof of Work to Proof of Stake. As many people are wondering which cryptocurrency should be their next choice, this press release can help them a lot as it chooses some of the most profitable altcoins from...
Army-Z by BITCOINZ
An army of active people in social media that will fight for spreading the original cryptocurrency idea. This is the concept of the "Army-Z" project. BITCOINZ Community has been distinguished all these years for its high level of engagement. A cryptocurrency without...
What is a “block” and “Blockchain”?
A block is a file where data (pertaining to a specific cryptocurrency network) are permanently recorded. A block records the most recent digital coin transactions that have not yet been recorded to any prior blocks. You can imagine that a block is like...
What is a Cryptocurrency?
Cryptocurrency is a form of digital asset, split into units like virtual coins or tokens, that can be used as a digital currency. Cryptocurrencies use cryptography for security and a network of computers that verify each transaction. Each user can have...
Some information about the legendary Bitcoin
The root problem with conventional currencies is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.Bitcoin(₿) was launched in 2008-2009 and...
What is a minable and a non-mineable coin?
A mineable digital coin (cryptocurrency) is a coin that is created and can be acquired through the mining process. Miners and mining rewards The minable coins are created by (and are rewarded to) the miner, for successfully verifying transactions on the network and...
What is “mining” , “block reward” and “reward halving” ?
In the Cryptocurrency world, the block reward (or mining reward) is the number of coins that are given as reward to the miner that first "found" the next block by solving the a mathematical puzzle. The whole procedure of finding the next block in a cryptocurrency...
What is a “Genesis block”?
A genesis block is the very first block of a blockchain. It is usually mentioned as block 0 or block 1. For a Cryptocurrency Project having its own genesis block means a few important things about its integrity and the fair distribution of the digital...
What is a Community Driven coin ?
A Community driven coin is a cryptocurrency project that is has no specified owner and of course not a company structure behind it or a CEO deciding for its future. Instead of it , it has Community-driven development that provides the control of the...
What is a blockchain explorer?
A block explorer allows you to explore the whole blockchain of the cryptocurrency you are using. Can I use one explorer for every coin? Definitely no! It needs to be underlined that you can’t use a block explorer for a blockchain it wasn’t meant for. For...
What is Proof of Work (PoW)?
In a cryptocurrency network the users send each other digital coins. A decentralized ledger gathers all the transactions into blocks. However, the confirmation of the transactions and the arrangement of blocks are necessary. Proof-of-Work, or PoW, is the...
What is FIAT currency?
Fiat currency or (fiat money) is currency that is issued by governments and central banks and is not backed by a precious commodity, such as gold or silver. Instead of this, the government or central bank that issued it is backing it up. The term...
What is “Premining”
Premining is the creation of a number of crypto coins before the cryptocurrency is launched to the public and their allocation to specified coin addresses. Premining has a negative connotation in the cryptospace due to the ability of developers to privately mine and...
What is “Instamining”?
Instamining (from the words "instant" and "mining") is usually used alternatively for premining in the cases where closed groups , usually consisted of the developers of a cryptocurrency project, mine a huge number of the coins before launching it to the public....
What is “Proof of Stake”?
Proof of Stake (PoS) model states that a person can validate block transactions according to how many coins he or she holds. This means that the ownership (stake) of more coins leads to the increase of the validating power and the associated rewards. What all...
What is Hashrate ?
What is a hash function and what is hash rate? A hash function is any function that can be used to map data of arbitrary size to fixed-size values. The values returned by a hash function are...
What is a “Payment Gateway”?
A Payment Gateway is a decentralized payment platform where the users can pay, receive and transfer money to another user using digital coins (cryptocurrencies). The payment gateway is reducing the intermediaries involved in the process and makes fast the...
What is BITCOINZ’s “VAULTZ”?
VaultZ is the Community Fund of the BitcoinZ Project. It is a major upgrade for the Project and came with the 2.05 version, after a massive 96% YES vote by the Community. How does exactly this model work? The idea consists of getting a sophisticated and...
What is “ZHash”?
ZHash is a variant of the popular Equihash Proof of Work algorithm, which was developed as a solution that would increase the resistance of the algorithm versus the ASIC miners. Why Zhash algorithm was so much needed ? Bitmain, the well known ASIC manufacturer,...
What is “transactions privacy” and “Zk-snarks”?
A privacy coin is defined as a cryptocurrency that allows private transactions hiding data about its users . Such data are the amount of cryptocurrency traded and held in wallets. Which cryptocurrencies offer privacy? Bitcoin and many popular cryptocurrencies...
What is a cryptocurrency Wallet and Multiwallet?
A cryptocurrency wallet is an application that allows cryptocurrency users to store and retrieve their digital coins. Usually each coin has its own wallet options, aka its own applications for every operating system and device type. So, with their e-wallets , the...
What is Maximum Supply?
Max Supply for a cryptocurrency is the total amount of coins that can be issued. The total supply or circulating supply is the amount of the already issued coins. These coins are either circulating in the market or are stored in specific addresses. When the...
What is “btcz.app”?
Btcz.app is the second developers team that joined the BTCZ project on 2019. The btcz.app team has worked hard for delivering a series of applications and features that make the ecosystem of the BitcoinZ digital coin much richer. Some examples of the BTCZ.APP...
What is KioskZ ?
KioskZ is an innovative Point of Sale Terminal which is especially designed for the restaurant industry, enabling the customer to make cryptocurrency payments to the business that uses the KioskZ. The prototypes have been designed by the BitcoinZ and SafeCoin Projects...
What is the BitcoinZ “Dynamic Roadmap”?
BitcoinZ is the first Cryptocurrency Project that presented and adopted a totally Community oriented Roadmap on August 2019. Why it is called "Dynamic" Roadmap ? This is what we called "Dynamic Roadmap" because it is not a static plan that a specific team...
What is “Decentralization”?
Decentralization is the process of distributing and dispersing power away from a central authority. In the world of cryptocurrencies , decentralization plays a critical role in many aspects. Some of them are safety, security and their very philosophy which has...
What is “txtZ”?
txtZ is a unique feature of the BitcoinZ cryptocurrency that makes possible for a user with a very simple, old tech mobile device, to use his digital coins with just a txt message! Without the need of an internet connection or any application installed in a...
What are the ICO Sales?
"ICO" comes from "Initial Coin Offering" and it is a procedure that acts as a way to raise funds, when a company is looking to raise money to create a new cryptocurrency, application, or service. It has the same logic with the stock IPO (Initial Public Offer) so the...
What is an “airdrop”?
In the world of cryptocurrencies, an "airdrop" is the distribution of free coins to specific coin addresses. In which cases we have an "Airdrop"? Usually there are two common scenarios of airdrops. a) The airdrop because of a blockchain fork, by coins that have...
What is “Equihash”?
Equihash is a memory-hard Proof of Work algorithm. How Equihash is functioning? It was introduced by the University of Luxembourg's Interdisciplinary Center for Security, Reliability and Trust (SnT) at the 2016 Network and Distributed System Security Symposium. The...
What is a Cryptocurrency Exchange?
Cryptocurrency exchanges are online platforms in which you can exchange one kind of digital asset for another based on the market value of the given assets. How a cryptocurrency exchange is working Every exchange is hosting a list of cryptocurrencies and tokens...
What is mining and mining algorithm?
In the Cryptocurrency world, the block reward (or mining reward) is the number of coins that are given as reward to those who found the next block, by solving a mathematical puzzle. The whole procedure of finding the next block in a cryptocurrency blockchain, is...
What is ZBrain?
ZBrain is the on-line conference that is organized by the BITCOINZ Community. ZBrain meetings take place 2 times per year, one in Winter and another in Summer, in fixed dates that are announced in the BitcoinZ Discord Channel and by all the Community's social media...
What is a Project’s “Roadmap”?
The project roadmap is a graphical, high level overview of the project's goals presented on a timeline andthe major steps or milestones needed to reach it. Unlike the project plan where details are fleshed out, the roadmap should be simple and free of special details....
What is an address for payments with cryptocurrencies?
An address for cryptocurrency payments is a unique identifier that serves as a virtual location where the cryptocurrency can be sent. People can send digital coins to these addresses similarly to the way that printed money (FIAT) can often be sent to email addresses...
What is “Developer’s Fee”?
In the cryptocurrency world, developer's fee is a percentage of the mining rewards that is automatically allocated to specified coin addresses. How to find out for this tax? Usually, the developers of a coin are mentioning this percentage and the time frame...
What is an “ASIC”?
Application-specific integrated circuit (abbreviated as ASIC) is an intergrated circuit (IC) customized for a particular use, rather than intended for general-purpose use. In Bitcoin mining hardware ,ASICs were the next step of development after CPUs, GPUs and FPGAs....
What is a private key?
Coming Soon!
What is a node?
Coming Soon!
What is a “Fork”?
A cryptocurrency fork is a critical update to a network's protocol that makes existing rules either valid or invalid. Sometimes this procedure may result in "independent" and new versions of a cryptocurrency. Usually with the "Fork" definition we mean a hard fork. ...
