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ELI5 – Explain Cryptocurrency Like I’m 5! Category - Page 2

ELI5 Hydro Mining: generate your own electrical power for cryptocurrency mining
Hydro mining is a generic term which refers to the use of hydropower in the cryptocurrency mining process. Hydro-mining is considered a green energy alternative, which attempt...
ELI5 What is the Avalanche Protocol? [AVAX]
Avalanche is a consensus mechanism which aims to combine the best features of previously existing protocols. If you've tried to understand the Avalanche consensus protocol pape...
ELI5 What’s a cryptocurrency whitepaper?
The term whitepaper originated in Great Britain, due to the color of government-issued documents in the early 1900's. The famous Churchill white paper of 1922 (featured above)...
ELI5 Cryptocurrency airdrops and giveaways : Why do cryptos get distributed for free?
There's no such a thing as free lunch. The famous quote, which probably originated at a saloon in the middle of nowhere, raises a valid question about cryptocurrency airdrops ...
ELI5: What is WINk? [Formerly TRONBet]
WINk is a decentralized gaming application hosted on the TRON blockchain. Formerly TRONBet Previously known as TRONBet, the platform is now live at WINk.org At the time o...
ELI5 What’s a stablecoin?
Since the beginning of cryptocurrency history, most crypto assets have been known to experience enormous oscillations against the US Dollar (or some other legacy fiat currency). ...
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 geom...
Proof of Elapsed Time (POET) Summary [Cryptocurrency consensus mechanisms]
In this poetically named consensus mechanism, network participants prove that they have slept for a random amount of time before being able to mint a block. POET was released b...
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 t...
Proof of Trust (PoT) Summary [Cryptocurrency consensus mechanisms]
In a Proof of Trust system, users in a network gain trust as they participate in special activities within the network. If a user tries to defraud the system, the trust is lost...
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