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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 Proof of Stake (PoS) – How does PoS work?
In the cryptocurrency universe, Proof of Stake (PoS) is one of the most popular alternatives to the Proof of Work (PoW) family of consensus mechanisms. While PoW systems invest la...
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: Blockchains explained in simple terms
A blockchain is a database formed by a sequence of entries called (you guessed it) blocks. Blockchains have a special characteristic by which any attempt to modify one of its ...
ELI5: Why can’t Bitcoin miners use regular computers?
This is a frequently asked, but still very relevant, question in the world of cryptocurrencies. There seems to be a permanent, and very heated, debate involving the future of B...
ELI5: What is a DAO (Decentralized Autonomous Organization)?
DAO stands for Decentralized Autonomous Organization. It is a concept that stems from organizations being able to run based on self-enforcing smart contracts. Note: although th...
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...