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ELI5 – Explain Cryptocurrency Like I’m 5! Category - Page 4

ELI5 What is a premined cryptocurrency?
If you're a beginner and you've been following some of the cryptocurrency debates on social media, then you may have encountered something like this: CRV is getting premined an...
ELI5 What is an adversarial Cardano staking pool?
If you've been following recent Cardano staking discussions then you've probably seen or heard the term adversarial staking pool. What does it mean, exactly, to be an adversari...
ELI5 What is a Bitcoin transaction?
In very simple terms, a Bitcoin transaction (TX), is the basic data structure supporting the transfer of value from one BTC address to another. Bitcoin transactions are structu...
ELI5 Cardano Staking & Basic FAQ
In this article we look at the very basics of Cardano staking. If you've got any experience whatsoever with other Proof of Stake coins, then you probably don't need to read th...
Proof of Work Summary [Cryptocurrency consensus mechanisms]
PoW uses a brute force approach where miners compete to find block hashes beginning with a certain number of zeroes. The more zeroes, the more difficult it is to find such hash...
Proof of Stake Velocity (PoSV) Summary [Cryptocurrency consensus mechanisms]
As the name implies, Proof of Stake Velocity is a variation on traditional PoS. It was developed for the Reddcoin project, which abandoned Proof of Work in favor of the more en...
ELI5 Wraith Protocol
Wraith protocol was introduced by the Verge cryptocurrency team in late 2017. It allows users to choose whether to make their transactions private or not. The initial Wraith...
ELI5 What is OpenBazaar?
OpenBazaar is a P2P application that allows people to sell their artworks, creations and anything else via a 100% decentralized marketplace. There is no middleman and no fees t...
ELI5 What is the best cryptocurrency?
I've seen this asked a lot, so I thought I'd post about it. What's the best crypto? My impulse here is to simply reply "well, duh, there's no such thing as a best cryptocurr...
ELI5 Proof of Keys
Proof of Keys is a movement started in late 2018 by investor Trace Mayer. Let's start a new #Bitcoin cultural tradition.An annual Proof of Keys Celebration on Jan 3rd to declar...