Basic Concepts

In the Basic Concepts category you will find introductory articles that range from the very basics (such as the ELI5 subsection) to medium difficulty subjects (e.g. beginning programming).

The concepts presented on this section are recommended for those beginning with cryptocurrency programming, investing, mining and other crypto related activities which involve some technical background.

ELI5 Dogecoin Halvings by Gal Crypto
Dogecoin is a Bitcoin fork released in 2013. Although not as popular as it once was, Dogecoin has continued to attract social media users due to its fast transactions, low fees ...
ELI5 What are Masternodes? by @Cryptobill
Masternodes are being talked about everywhere. But I've noticed that newbies don't really know what they are. Here goes the ELI5 version of how Masternodes work. Decentraliz...
ELI5 Bitcoin Puzzle Transactions by Gal Crypto
As the name implies, Bitcoin puzzle transactions are created as a challenge and not for the usual purpose of monetary transfer. Puzzles can be published for several reasons, inc...
ELI5 : Bitcoin Pizza by @Cryptobill
Bitcoin Pizza is the popular name given to an early transaction where Laszlo Hanyecz paid 10,000 BTC for two Papa John's pizzas. On May 18, 2010, Laszlo posted a thread to Bitcoin...
ELI5 PSBT – Partially Signed Bitcoin Transactions by @Cryptobill
One of the key concepts behind cryptocurrencies is that you should not have to meet, much less trust, your peers in order to perform successful transactions. That's why every ne...
Why are there so many cryptocurrency exchanges? by @Cryptobill
You may have noticed the "EX" suffix appears a lot in the cryptocurrency niche? BitMEX, Poloniex, Bittrex, Goatsex, you name it. If it ends in EX, then it's probably related ...
ELI5: Cryptocurrency master keys by @Cryptobill
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...
Can I buy Bitcoin at Walmart? by @Cryptobill
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 How many Bitcoins are there? Is the number of Bitcoins limited? by @Cryptobill
tl;dr; There are 17.4 million Bitcoins in circulation at the time of this writing. Bitcoin supply is limited at 21 million BTC. This limit will be reached in the far future as bloc...
ELI5 How to mine Litecoin by @Cryptobill
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...