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Fiat

Fiat refers to any government-issued currency that is not backed by a physical commodity, such as gold or silver. Examples of fiat currencies include the US dollar, the Euro, and the Japanese yen. These currencies derive their value from government regulation and are typically used as a medium of exchange in daily transactions, such as buying goods and services. In contrast, commodity-backed currencies are directly tied to the value of a physical commodity, such as gold or silver, and their value can fluctuate based on supply and demand for the commodity.

  • Blockchain
    The blockchainThe blockchain is a digital ledger that records transactions in a secure and decentralized manner. Think of it like a shared spreadsheet that is constantly... is a digital ledgerIn cryptocurrency, a ledger is a digital record of all transactions that have occurred within a particular blockchain network. It includes information such as the... that […]
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  • Mainnet
    A mainnetA mainnet refers to the main blockchain network of a cryptocurrency. It is the actual network where transactions are recorded and executed, as opposed to... refers to the main blockchainThe blockchain is a digital ledger that records transactions in a secure and decentralized manner. Think of it like a shared spreadsheet that is constantly... […]
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  • Seed
    In the context of cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain..., a seedIn the context of cryptocurrency, a seed is a string of words that is used to generate a private key, which is in turn used... […]
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