b. 💡 Understanding crypto and blockchain jargon

Here are some key terms and concepts that will help you better understand the world of crypto and blockchain:

1. Cryptocurrency: A digital or virtual currency that uses cryptography for security and operates independently of a central bank.

2. Blockchain: A decentralized, digital ledger that records transactions on multiple computers. Each block in the chain contains a record of recent transactions, and once a block is completed, it is added to the chain.

3. Decentralization: The process of distributing power or control away from a central authority. In the context of blockchain, decentralization means that there is no central authority or third party controlling the network.

4. Smart Contracts: Self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist on a blockchain network and execute automatically when predetermined conditions are met.

5. Mining: The process of creating new blocks on a blockchain network through the solving of complex mathematical problems.

6. Wallet: A digital wallet that stores cryptocurrencies and allows users to send and receive digital assets.

7. Public Key: A cryptographic code that allows a user to receive digital assets.

8. Private Key: A cryptographic code that allows a user to access and send digital assets.

9. Nodes: Computers that connect to the blockchain network and store a copy of the ledger.

10. Consensus: The process of agreeing on a single version of the blockchain ledger among all nodes on the network.

11. Fork: A situation where a blockchain network splits into two separate chains, usually due to a disagreement over the network's rules.

12. ICO: Initial Coin Offering. The process of selling new cryptocurrency tokens to investors in exchange for other cryptocurrencies like Bitcoin or Ether.

13. Token: A unit of value that represents an asset or utility on a blockchain network.

14. Gas: A unit of measurement for the amount of computational power required to process a transaction on the blockchain network.

15. Cold Storage: The practice of storing cryptocurrencies offline in a hardware wallet or other secure storage method.

16. Hot Wallet: A digital wallet connected to the internet that allows for quick and easy access to cryptocurrencies but is more susceptible to hacks.