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How can I sell Bitcoin?
There are many ways in which you can sell your Bitcoins. Over the counter (OTC) trade is growing everywhere, thus fulfilling one of Satoshi’s original ideas, which was to have a 100% decentralized P2P currency. There are also many centralized exchanges where you can safely trade your BTC for other cryptos, or even cash. In […]
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 geomining systems. In a geomining application, users earn rewards for being at a certain place at a certain time. If, for example, a company wished to gather participants for […]
Proof of Burn (PoB) Summary [Cryptocurrency consensus mechanisms]
In the Proof of Burn (PoB) consensus mechanism, miners earn the right to mint the next block by burning some value in the blockchain. All proof systems are based on the principle that minting a block must incurr in some cost, otherwise fraudsters could inject invalid transactions into the blockchain. Bitcoin achieves this by making […]
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.
Cryptocurrency Transactions (TX's) are the logical object which tie an unspent output to a new input, forming the chain which allows us to control address balances. Transactions are grouped into blocks which, when verified by mining or staking, form the blockchain.
A concept of value exchange that does not require physical tokens (coins or paper cash) to be used in order to trade. Cryptocurrencies are a type of digital money.
Elon Musk is a serial entrepreneur who co-founded innovative companies such as Paypal, Tesla and SpaceX. His ambitious projects and impressive technical feats have catapulted him to the helm of business innovators.
HashCash is an early Proof of Work (PoW) system developed by Adam Back. Its initial purpose was to fight email spam, but HashCash ended up becoming a central component of the Bitcoin consensus mechanism.