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Basic Concepts

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.

ELI5 PSBT – Partially Signed Bitcoin Transactions
Trustless operation is one of the key concepts behind cryptocurrencies. The idea is that you should not have to personally meet, or trust your peers, in order to perform successfu...
ELI5 Bitcoin Puzzle Transactions
As the name implies, Bitcoin puzzle transactions are created as a challenge and not for the usual purpose of monetary transfer. Puzzles can be published for several reasons, in...
Understand the Double Spending problem
As the name implies, the double spending problem consists in executing a transaction twice while subtracting once from your balance. This, of course, can only happen by means ...
ELI5 First, second and third generation cryptocurrencies
Although the theoretical building blocks that form cryptocurrencies existed prior to 2009, it was only in January of that year that Bitcoin registered its first ever transaction o...
ELI5 Proof of Stake (PoS) – How does PoS work?
In the cryptocurrency universe, Proof of Stake (PoS) is an alternative to the Proof of Work (PoW) consensus mechanism. How PoS Works While PoW guarantees that each network p...
ELI5 Provably Fair Games
What is a provably fair game? The answer lies at the heart of a whole new industry which has been developed around the transparent, decentralized, nature of the blockchain. ...
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...
Opinion: Decentralized blockchains can only survive having a valuable token, like Bitcoin, attached to them [Feb 2018]
We've heard this time and again, especially from folks in the financial sector: "blockchain is here to stay, Bitcoin not so much". Is this really so? We disagree, and in th...
ELI5 What’s a stablecoin?
Since the beginning of cryptocurrency history, most crypto assets have been known to experience enormous oscillations against the US Dollar (or some other legacy fiat currency). ...
Proof of Location (PoL) Summary [Cryptocurrency consensus mechanisms]
In a Proof of Location consensus algorithm, users' geospatial coordinates are accounted for as proof of value. This kind of algorithm is usually employed in cryptocurrency geom...

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