Bitcoin & crypto

What is Bitcoin?

Bitcoin (BTC) is a digital currency created in 2009 by a person using the alias ‘Satoshi Nakamoto'. While governments issue normal money, Bitcoin is “decentralized”, meaning no one and nothing can control it. It works through a technology called blockchain, which is a public digital ledger that records every transaction made, ensuring security and transparency.

What is the blockchain?

The blockchain is like a digital notebook that records all transactions securely and transparently. It’s made up of something called “blocks", each containing a list of recent transactions, and once a block is full, it’s linked to the previous one, creating a chain. Since the blockchain is stored across thousands of computers worldwide, it's nearly impossible to change past records, which helps prevent fraud and keeps the system safe and trustworthy.

What are SOL and ETH?

Solana (SOL) and Ethereum (ETH) are two of the most popular cryptocurrencies on the blockchain, each designed for different purposes and trading at varying prices. At the same time, ETH was the first network to have something called “smart contracts”, which is like a computer program that automatically does what it’s told, like sending money or unlocking something, when specific rules are met.

The Solana network is regarded as faster, low-cost, and designed to support decentralized applications and cryptocurrencies. It uses a system called "Proof of History" to speed up transactions, enabling it to process thousands per second with very low fees.

How are these available on Moonshot?

While all cryptocurrencies exist on blockchain networks, they are not all on the same network. Moonshot only supports tokens on the Solana network. However, we also offer wrapped versions of both ETH and BTC; these are tokens created on the Solana network that maintain an approximate 1:1 value with the original coins on their native networks.