From Bitcoin to blockchain: Key cryptocurrency terms and what they mean
Summary
Bitcoin is a digital currency that is not controlled by banks or governments, making it popular but also very unstable in price. The technology behind Bitcoin and other cryptocurrencies is called blockchain, a system that records all transactions in linked blocks. Recently, Bitcoin’s price has fallen close to $60,000, raising concerns about its future value.Key Facts
- Bitcoin is a type of digital money called cryptocurrency, operating without central banks.
- President Donald Trump has promised to make the US the "crypto capital of the world."
- Bitcoin’s price reached over $120,000 in July 2025 but has since dropped below $62,000 in June 2026.
- Blockchain is a digital ledger that records every cryptocurrency transaction in linked blocks.
- Miners verify Bitcoin transactions and are rewarded with bitcoins, but rewards are halved approximately every four years.
- The most recent Bitcoin reward halving occurred on 20 April 2024, cutting miners’ rewards from 6.25 to 3.125 bitcoins.
- Bitcoin’s total supply is limited to 21 million coins.
- The identity of Bitcoin’s creator, known as Satoshi Nakamoto, remains a mystery.
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