1. What is a blockchain?
Blockchain is a peer-to-peer network, Internet technology revolutionary technology, using block data security and trusted network architecture, the characteristics of blockchain are decentralized, non-tamperable, consensus mechanism, distributed data storage, peer-to-peer network.
2. What is bitcoin?
The concept of BitCoin was originally proposed by Nakamoto Satoshi and was the first global decentralized encrypted digital currency.
3. What is decentralization?
There is no mechanism to control, relying on a set of decentralized initiation mechanism, and gradually write data into this mechanism, everyone maintains a database, and the system automatically sets the reward mechanism and mining mechanism.
4. What is a decentralized wallet?
The wallet is a storage and payment tool. It is stored offline. All transactions are carried out on the blockchain. The user's assets are on the chain. The user's asset information and private key are not recorded. If the private key is lost, the platform will not be able to. To assist in the recovery, you must take care of the private key and mnemonic of the asset.
6. What is a mnemonic? What is the mnemonic used for?
A mnemonic is another form of representation of a private key that helps the user remember a complex private key. The process of generating it is done by an algorithm, and the user needs to back up and keep his own mnemonic.
7. What is a private key? What is the use of the private key?
The private key is an encryption algorithm that uses a private key to encrypt or decrypt data. The private key is also the only proof of holding a digital asset, so the user needs to keep his private key and will not be able to provide it if the wallet is lost.
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