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ELI5 – Explain Cryptocurrency Like I’m 5!

The very basics for anyone who’s getting started with cryptocurrencies or would like to get involved with crypto software development.

Most articles in this section assume no previous experience with cryptocurrencies.

We try to cover a broad range of subjects, from mining to software development, using accessible language and no excessively technical terms.

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...
ELI5 How to mine Litecoin
Litecoin has consistently been one of the most popular cryptocurrencies since its inception in 2011. It was initially forked from the main Bitcoin source code by a developer ca...
Winning Bustabit strategy: ELI5 How to consistently win at Bustabit!
Bustabit is a betting game where you try to guess the largest possible magic number in each contest. Sounds kinda dull, but there's a catch: this number is a Bitcoin multiplie...
ELI5 Dollar Reboot Composite
Market analyst Jim Rickards edits the Strategic Intelligence newsletter and, in 2017, he made several predictions about the financial markets in the coming years, specifically men...
ELI5 First, second, third and fourth generation cryptocurrencies [2021 Update]
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 Coinmixer : What is a coin mixer?
A coin mixer, most popularly known as Bitcoin mixer, is a service which scrambles your cryptocurrency transactions so that the funds' origin becomes hard to trace. (Some also call...
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. ...
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...
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 VRF – Understand Verifiable Random Functions
Verifiable Random Functions (VRF) are random number generators whose output can be cryptographically verified. A special algorithm provides the proof for VRF's at a later time the...
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