In the Basic Concepts category you will find introductory articles that range from the very basics (such as the ELI5 subsection) to medium difficulty subjects (e.g. beginning programming).
The concepts presented on this section are recommended for those beginning with cryptocurrency programming, investing, mining and other crypto related activities which involve some technical background.
How to buy Bitcoin near me?
If you feel insecure about purchasing Bitcoin through virtual channels, a personal contact can go a long way in helping you break through the toughest barrier for new crypto inves...
ELI5: What is Crypto Anarchism?
Crypto Anarchism is a political ideology which advocates the use of strong cryptography as an instrument for the promotion of Anarchy, including unrestricted personal freedoms and...
ELI5: What is the Bitcoin “mempool”?
You may have heard the term "mempool" a lot recently, especially during the recent attacks on the Bitcoin network when the number of unconfirmed transactions rise a lot, fueling r...
ELI5: What is a BIP?
As SegWit gains adoption, you may have heard the term "BIP 141" in online discussions. What does BIP mean? And what is that number next to it?
Bitcoin is a community-run techno...
Is blockchain just a glorified database?
The blockchain is a special kind of database that has the property of being immutable and tamper proof. This makes it suitable for high security applications such as banking, logi...
ELI5 What is cryptocurrency mining?
Mining is the process by which cryptocurrency transactions get verified.
The process got its name from the fact that once a block is verified, whoever solved it will earns som...
ELI5: Cryptocurrency Micro Mining
Micro mining is a cryptocurrency mining modality where large quantities of small, and low computing power, devices perform the mining work. The idea stemmed from concepts related to IoT (Internet of Things), but also applies to other mining modalities where users contribute tiny amounts of work against proportional rewards. For example, by using their spare […]
ELI5: What was Honeyminer?
Honeyminer was an automatic multiple coin mining program that pays users to use their spare computing power. Honeyminer leveraged a variation of the concept of micro mining, where participants who do not wish to invest in a dedicated mining setup contribute tiny amounts of mining power against a proportional reward. In October 2021 the company […]
ELI5: How can I buy Bitcoin?
There are many options when it comes to buying Bitcoin. You can buy it directly from friends, on what’s generally known as over the counter (OTC) trade. Or you can buy BTC from exchanges. Coinbase For US customers, the most popular option seems to be Coinbase. This is America’s largest Bitcon broker and perhaps the […]
Proof of Authority (PoA) Summary [Cryptocurrency consensus mechanisms]
Proof of Authority is a consensus mechanism where members of a cryptocurrency network are identified and receive delegated powers to solve blocks. If they defraud the system their identity is at stake and they will either be prosecuted or booted from the network. This is a centralized system where a higher authority delegates mining powers […]
Concepts In This Page
A process or system by which multiple parties are able to reach consensus. In the context of cryptocurrencies, it's the process which allows for everyone to agree on everyone else's money balance. E.g. Bitcoin employs Nakamoto consensus via PoW mining.
Proof of Stake
Proof of Stake is a consensus mechanism in which block verifiers prove their commitment to the network by staking their coins instead of by proving they performed some work (contrast with Proof of Work).
Staking is the process by which users delegate their Proof of Stake voting rights to a staking pool. The pool then verifies transactions on the users' behalf and, similarly to mining pools, share some of the profits back with the stakers.
Bisq is a decentralized cryptocurrency exchange. Formerly called Bitsquare.
A cryptocurrency data and blockchain community service provider. Bitmain was an early investor in BitKan.
Localbitcoins was a P2P cryptocurrency enabler. Users trade cryptocurrency between each other using Localbitcoins' regional listings. In February 2023, LocalBitcoins announced it was shutting down.
Paxful is a cryptocurrency exchange from Estonia
Cipherpunks or cypherpunks are individuals who believe in cryptography as a tool to promote privacy and individual sovereignty. Cipherpunk ideals can be identified at the early roots of cryptocurrency development.