Misconceptions About Bitcoin and Cryptocurrency
There are a few misconceptions about Bitcoin and cryptocurrency, which I have read and heard people talking. Some of them are listed here and I shall try my best to correct them. This list will be updated from time to time. Referring cryptocurrency to just "crypto" . Technically, it is incorrect to link "crypto" to mean cryptocurrency. This is akin to calling "digital currency" as just "digital". I have read statements like: "I have a lot of cryptos". However, you don't say "I have a lot of digitals". So, it is better to stick with the term "cryptocurrency" as opposed to just "crypto" when referring to the former. Crypto is normally associated with cryptography . Bitcoin uses a public key infrastructure (PKI) . A PKI requires the setting up of an infrastructure involving, among others, a Certificate Authority (which is a trusted third party) that is responsible to certify public keys. In Bitcoin, or