Definitions of common terms used in crypto currency

Cryptocurrency: A digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Cryptocurrencies are decentralized networks based on blockchain technology.

Blockchain: A distributed digital ledger that records and stores all transactions that take place on a given network. The ledger is maintained by a network of computers, and each transaction is verified and recorded in a block.

Mining: The process of verifying and adding transactions to the blockchain ledger. Miners are rewarded with cryptocurrency for their work.

Wallet: A digital wallet is a software program that stores private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance.

Exchange: A platform where users can buy and sell cryptocurrency for other assets, such as traditional fiat money or other digital currencies.

Fiat Money: Government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.

Altcoin: Any cryptocurrency other than Bitcoin.

ICO: Initial Coin Offering. A type of crowdfunding or crowd investing tool conducted entirely on the blockchain.