What Is Cryptocurrency?
Cryptocurrency is a type of digital or virtual currency that uses cryptography for security and operates on decentralized networks based on blockchain technology. Unlike traditional currencies issued by governments (such as the U.S. dollar or euro), cryptocurrencies are not controlled by a central authority like a bank or government.
The most well-known cryptocurrencies include Bitcoin, Ethereum, and Litecoin, but thousands of others exist, each with unique features and purposes. Transactions made with cryptocurrencies are verified by a network of computers and recorded in a public ledger known as the blockchain, which ensures transparency and security.
Cryptocurrencies are used for a variety of purposes—including investment, online purchases, and transferring funds across borders—and they continue to revolutionize how we think about money, privacy, and financial freedom.
What Is Blockchain?
Blockchain is a type of digital ledger technology that securely records transactions across a network of computers. Each transaction is grouped into a “block,” and once verified, it’s linked to the previous block—forming a “chain” of records that is nearly impossible to alter.
Originally developed for cryptocurrencies like Bitcoin, blockchain technology is now used in many industries for its ability to provide transparency, security, and decentralization. Because no single party controls the data, and all changes are publicly recorded and verified, blockchain is trusted for applications like finance, supply chain tracking, voting systems, and more.
In simple terms, blockchain is a way to store and share data that is secure, transparent, and resistant to tampering.
What Is an Ethical Hacker?
An ethical hacker, also known as a white hat hacker, is a cybersecurity expert who is authorized to test and probe systems, networks, or applications to identify vulnerabilities before malicious hackers can exploit them. Unlike cyber-criminals, ethical hackers use their skills legally and responsibly to improve security.
Ethical hackers often work with companies, governments, or participate in bug bounty programs, helping organizations fix security flaws and protect sensitive data. Their work plays a critical role in preventing breaches, ransomware attacks, and other forms of cyber-crime.
In essence, ethical hackers are the good guys of cybersecurity, using hacking skills to protect, not exploit.
What Is a Bug Bounty?
A bug bounty is a program that rewards independent security researchers (often called "ethical hackers" or “white hackers”) for finding and responsibly reporting vulnerabilities or bugs in a company's software, website, or system. These programs help organizations identify and fix security issues before malicious actors can exploit them.
Bug bounties are typically offered by tech companies, financial institutions, and government agencies as part of their cybersecurity strategy. Rewards can range from public recognition to significant monetary payments, depending on the severity of the bug and the rules of the program.
In short, bug bounties are a proactive way for companies to strengthen security—by inviting experts to test their defenses and rewarding them for making the digital world safer.
What Is a Crypto Wallet?
A crypto wallet is a digital tool that allows you to store, send, and receive cryptocurrency securely. It doesn’t actually hold your coins like a physical wallet—instead, it stores your private keys, which give you access to your digital assets on the blockchain.
There are two main types of wallets:
- Hot Wallets – Connected to the internet (e.g., mobile apps, browser extensions). Convenient but more vulnerable to hacking.
- Cold Wallets – Offline storage devices (e.g., hardware wallets). Safer for long-term storage.
Whether you’re trading daily or holding crypto long-term, having the right wallet is essential for keeping your assets safe.
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