Frequently asked Questions

Fiat is a state-issued currency, e.g. US dollar. Fiat currency is not pegged to gold. It has no backing at all.

Cryptocurrency is a digital asset meant to function as a means of exchange. It uses cryptography for its transactions, production of additional units and asset transfer revision. Most cryptocurrencies are Blockchain-based.

Cryptography is the study of methods for privacy, data consistency and authenticity. It is the mainstay of cryptoindustry as a whole. Therefore, it provides for blocking access to personal information, preventing undetected data modification, checking of authentication and other object properties.

Satoshi is the smallest unit of Bitcoin. It equals one hundred millionth of 1 Bitcoin (0.00000001 BTC). Satoshi is named after the anonymous Bitcoin creator Satoshi Nakamoto who, according to some reports, owns about 1,000,000 BTC.

Market cap is the total value of cryptocurrency on the market. It equals to current coin price times the number of all coins issued.

Public key is a free access character string joined with private key. Public key corresponds to Bitcoin address.

Private key is a character string giving access to a wallet or Bitcoin address. Anyone who can get to your private key can also manage your funds.

Distributed ledger is an agreement on data synchronization and reproducibility. In cryptocurrency networks distribution is spread among several networks in many processors. A centralized ledger is completely opposite to a distributed one, since all the data in it after being synchronized and reproducted is managed by a single network or a user.

Pool (mining pool) is computing resources joined together by several miners. The participants of this net distribute gained profits according to amount of efforts each of them made during task solving.

Scam is ICOs created to deceive people. Having successfully raised investments scam makers refuse paying tokens.

Multisignature (multisig, double signature) is a requirement of multiple signatures to confirm a transaction. This method of security is suitable for companies that have a BTC-wallet. If the company wants to ensure that no employee can possibly get an access to a transaction, multisignature provides it with a possibility to seal transaction with signatures of two different employees prior to its confirmation.

Hodl (hold) is just a misprint of the English «hold». The term originates from Bitcointalk forum in the thread called «I AM HODLING» where a user made a spelling mistake while expressing their thoughts on crypto trading. It is often used as a hint to hold off funds and refrain from panic selling.