Category: Basic Concepts

ELI5: What is a full node
A full node is a network connected computer that runs the official cryptocurrency client and has a complete and synchronized copy of the blockchain. When Bitcoin first appeared,...

Why are there so many cryptocurrency exchanges
You may have noticed the suffix "EX" appears a lot while studying or working with cryptocurrencies? "EX" is short for EXchange and there are literally tens of them, perhaps over...

ELI5: Cryptocurrency master keys
A cryptocurrency master key is a theoretical concept where one specially crafted cryptographic private key would be able to decrypt ciphertext encrypted using any public key. As...

ELI5 Crypto cap
"Crypto cap" may refer to different things, depending on context. Unless it's a stylish wearable hat with a reference to cryptocurrencies on it, then crypto cap probably refers ...

Can I buy Bitcoin at Walmart
It's not possible to buy Bitcoin at Walmart directly but there are indirect methods that you can use. Some sellers do not accept cash, Visa or Mastercard (!) on their Bitcoin sa...

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 technica...

ELI5 How many Bitcoins are there Is the number of Bitcoins limited
tl;dr; There are 17.4 million Bitcoins in circulation today. Yes, Bitcoin supply is limited. Bitcoin is capped at 21 million BTC. This limit will be reached in the far future as bl...

ELI5 How to mine Litecoin
Litecoin is a top 10 ranked cryptocurrency that's been around since 2011. It was forked from the main Bitcoin source code by a developer called Charlie Lee. Bitcoin's hashing al...

ELI5: What is Cryptocurrency Micromining
Micro mining is a type of cryptocurrency mining where usually large quantities of small and low computing power devices execute the mining work. The idea stemmed from concepts r...

ELI5 : What is Proof of Trust (PoT)
Proof of Trust is a consensus mechanism where users "stake" the trust they've earned in a network in order to verify cryptocurrency transactions. In a proof of trust system, use...