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Crypto Bill

Bill is a writer, geek, crypto-curious polyheurist, a dog's best friend and coffee addict. Information security expert, encryption software with interests in P2P networking, decentralized applications (dApps), smart contracts and crypto based payment solutions. Crypto Bill has published a total of 287 Posts

Latest Updates by Crypto Bill

ELI5 How many Bitcoins are there? Is the number of Bitcoins limited?
tl;dr; There are 17.4 million Bitcoins in circulation at the time of this writing. Bitcoin supply is limited at 21 million BTC. This limit will be reached in the far future as blo...
ELI5 What is geomining? [Cryptocurrencies]
Geomining is a cryptocurrency consensus mechanism where the participants' geographic locations are used as a proof of value. Geominers are rewarded for being at a specific place, ...
ELI5 Cryptocurrency
If you're just getting started in the world of cryptocurrencies, then the amount of information may seem a bit overwhelming at first. Blockchains, forks, stablecoins, mining, s...
What is actually a cryptocurrency fork?
Unless you've been living in a cave for the past 9 years, then you've probably heard about cryptocurrency forks. Bitcoin Cash was probably the most hyped, feared, loved, talked...
What is Base58 encoding? Why create yet another encoding scheme?
Base58 is a character encoding system developed by Satoshi Nakamoto. It was first released on the earliest Bitcoin source code tree. Satoshi felt that a new encoding was necessary...
What is network difficulty?
It is intuitive to most cryptocurrency miners that when more people join the mining operation, less reward is paid to each participating miner. It seems logical that it should ...
Understand cryptocurrency and ICO bounties
If you follow interesting cryptocurrency projects on forums and social media then you've likely seen the term "bounty" appear every now and then. What is this bounty they refer to...
ELI5 Sponge Functions for cryptocurrency development [Hash functions]
If you've been following the development of IOTA, and other cryptocurrencies, then you've probably heard the term "cryptographic sponge function", or simply sponge function? Y...
What is a nonce? Why are nonces important in mining?
A nonce is a number that is only used once. Hence its name is a portmanteau of number-used-once. Why is this kind of concept useful in cryptocurrencies' mining? Because nonces all...
Understand why millions of Bitcoins won’t ever be spent
What happens if you lose the private key of a Bitcoin address which holds some Bitcoins? Can the Bitcoins ever be spent if you don't have the secret key? The answer in both cases ...