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ELI5 – Explain Cryptocurrency Like I’m 5! Category - Page 10

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 Tezos On-Chain Governance
Tezos is a third generation cryptocurrency which offers all the benefits of first and second generation cryptocurrencies, plus Proof of Stake minting and on-chain governance. I...
ELI5 How does Tezos avoid baking centralization?
One of Tezos' most exciting features is the way it protects itself against attacks. There are no trusted hosts or manually designated network watchmen. It is a fully decentrali...
ELI5 What is ProgPoW?
In May 2018, cryptocurrency researchers IfDefElse and Greg Colvin submitted EIP 1057, proposing a change to Ethereum's mining algorithm. The central idea in EIP 1057, widely kn...
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 NFT – What are Non-fungible Tokens?
Money is an abstract concept. Although most people link money to dollar bills, coins or Uncle Scrooge swimming in a pile of gold coins, the value of money is a much more complex s...
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. ...
ELI5 What is Bitmessage?
Bitmessage is a messaging protocol designed by Jonathan Warren in 2012. The purpose of Bitmessage is to allow parties to communicate with each other in a secure and 100% decent...
ELI5 The Ethereum #SupplyGate controversy
In early August 2020, Michael Goldstein, Pierre Rochard and others asked what seemed to be a trivial question. What's Ethereum's total monetary supply? Can they articulate how ...