A transaction is a transfer of Bitcoin value that is broadcast to the network and collected into blocks.
Exchanges are digital marketplace where traders can buy and sell bitcoins using different fiat currencies or altcoins.
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An escrow is a legal concept where a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction.
Mining is the process by which transactions are verified and added to the public ledger, known as the block chain, and also the means through which new bitcoin are released.