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Basic Concepts Category - Page 11

How do I convert Bitcoin to US Dollars and Euros?
To convert Bitcon and other cryptocurrencies into US Dollars, Euros or other currencies, you need an exchange that will work with fiat money. Most cryptocurrency exchanges don'...
Why is Bitcoin a deflationary currency? What does this mean in practice?
To understand deflation we must first define its opposite: monetary inflation. We hear a lot about inflation on the news, but what exactly does it mean? As the term itself sugg...
Why are there so many cryptocurrencies?
Why so many cryptocurrencies? Are all of them as complex as Bitcoin? Currently, the Crypto.BI cryptocurrency list has over 1993 entries. What's behind this crypto diversity? Pe...
Understand distributed ledgers and the importance of financial decentralization
What's the hype around decentralization all about? Why is it important? Why do we want decentralization, when centralized financial institutions seem to be working just fine? T...
How decentralized is Bitcoin? How can Bitcoin be secure if nobody controls it?
Bitcoin's decentralized consensus system is the key to understanding how it can be secure without anyone in particular having to verify every transaction. In the same article, we'...
Is Bitcoin illegal? Will I get in trouble for buying and trading Bitcoin?
Bitcoin is legal in most countries but you should check with your accountant or with an attorney if you believe you may get in trouble for using cryptocurrencies in your region. ...
ELI5 Summary of cryptocurrency consensus mechanisms
There are currently two mainstream consensus mechanisms which are used by most cryptocurrencies: proof of work (PoW) and proof of stake (PoS). But these aren't the only ones! In f...
ELI5 Avalanche Consensus Mechanism Summary [Cryptocurrency consensus mechanisms]
A new class of consensus mechanism called Avalanche is being actively developed by Ava Labs, a startup founded by researchers from Cornell University. This new consensus mecha...
ELI5 What is a blockmesh?
You've probably heard all about blockchains and how this technology promises to revolutionize finance, logistics, central banks and so on. But did you know that a blockchain i...
ELI5 IOTA Tangle
In a previous article, we've discussed the concept of a DAG - Directed Acyclic Graph. In this post we talk about a DAG application in the IOTA ecosystem - the IOTA Tangle. ...