Crypto Glossary

Digital

Digital technologies are these electronic tools that have the ability to generate, store or even process data.

What Does Digital Mean?

Digital can be described as electronic technology which can generate, store as well as process data in two states, positive as well as non-positive. The positive is expressed or represented through the number 1 and the non-positive is expressed or represented through the number 0. This data is then transmitted or stored with digital technology and is expressed as a string of 1's or 0's.

Digital technologies are these electronic tools as well as systems, devices and resources that have the ability to generate, store or even process data. Some of the most well-known examples of this include social media, online games and cryptocurrency exchanges. 

The word digital itself comes from two words, digit, and digits, which is the Latin word for finger, as fingers are often used for the process of counting.

In other words, you can define something that is digital as something that records or stores information as a series of the number 1 and 0, in order to show that it is present or absent. It is also something that is in the form of binary digits. 

Cryptocurrencies, and as an example here we will use Bitcoin, are digital-only currencies. This means that they exist as 1s and 0s, and there are no physical BTC in the real world: all of them are stored in the digital ledger known as the blockchain, and they only exist on the blockchain. When you are transferring any cryptocurrency, you are transferring the data of 1s and 0s from one crypto address or wallet to another. 

A cryptocurrency by itself is a form of digital asset that is based in a network that is distributed across a large number of computers, which makes them fully decentralized.

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