Akash Sethi explains what a perceptron is:

In machine learning, the perceptron is an algorithm for supervised learning of binary classifiers. It is a type of linear classifier, i.e. a classification algorithm that makes its predictions based on a linear predictor function combining a set of weights with the feature vector.

Linear classifierdefined that the training data should be classified into corresponding categories i.e. if we are applying classification for the 2 categories then all the training data must be lie in these two categories.

Binary classifierdefines that there should be only 2 categories for classification.

Hence, The basicPerceptronalgorithm is used for binary classification and all the training example should lie in these categories. The basic unit in the Neuron is called thePerceptron.

Click through to learn more about perceptrons.

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