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What is network difficulty?
It is intuitive to most cryptocurrency miners that when more people join the mining operation, less reward is paid to each participating miner. It seems logical that it should ...
Understand cryptocurrency and ICO bounties
If you follow interesting cryptocurrency projects on forums and social media then you've likely seen the term "bounty" appear every now and then. What is this bounty they refer to...
ELI5 Sponge Functions for cryptocurrency development [Hash functions]
If you've been following the development of IOTA, and other cryptocurrencies, then you've probably heard the term "cryptographic sponge function", or simply sponge function? Y...
What is a nonce? Why are nonces important in mining?
A nonce is a number that is only used once. Hence its name is a portmanteau of number-used-once. Why is this kind of concept useful in cryptocurrencies' mining? Because nonces all...
Understand why millions of Bitcoins won’t ever be spent
What happens if you lose the private key of a Bitcoin address which holds some Bitcoins? Can the Bitcoins ever be spent if you don't have the secret key? The answer in both cases ...
ELI5: Ethereum, Gas, Gas Price, Gas Limit, Smart Contracts
To those familiar with first generation cryptocurrencies such as Bitcoin, Ethereum can seem overly complex. There are several new concepts to learn including gas, Turing-complete ...
ELI5 : How crypto exchanges work
Exchanges are online markets where one can trade cryptos. It is where all the "pumping and dumping" you keep hearing about happens. (In contrast with real world stock exchanges, p...
ELI5 PoW – What are Proof of Work algorithms?
Proof of Work (PoW) is a cryptographically secure consensus mechanism which guarantees that network participants who do not necessarily know each other are able to prove that they...
ELI5 Is Coinbase safe?
There's an old saying by cryptocurrency experts that goes a little like this: "if you don't control your private key, then you don't really own cryptocurrency." This is technic...
How do cryptocurrency debit cards work?
Cryptocurrency debit cards aren't really related to cryptos per se. They're not decentralized and they are mostly based on legacy technology. The only difference being that they'r...