ELI5 – Explain Cryptocurrency Like I’m 5!

The very basics for anyone who’s getting started with cryptocurrencies or would like to get involved with crypto software development.

Most articles in this section assume no previous experience with cryptocurrencies.

We try to cover a broad range of subjects, from mining to software development, using accessible language and no excessively technical terms.

ELI5 The Ethereum #SupplyGate controversy by Gal Crypto
In early August 2020, Michael Goldstein, Pierre Rochard and others asked what seemed to be a trivial question. What's Ethereum's total monetary supply? Can they articulate how ...
ELI5 Cryptocurrency airdrops and giveaways : Why do cryptos get distributed for free? by Gal Crypto
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 Cardano Staking & Basic FAQ by @Cryptobill
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...
ELI5 Saint Bitts – What is it? What’s St Bitts LLC? by Gal Crypto
Saint Bitts LLC is a company registered in the Federation of Saint Kitts and Nevis. Play on Saint Kitts The company name, Saint Bitts, changing Kitts for Bitts, is a Bitcoin...
Winning Bustabit strategy: ELI5 How to consistently win at Bustabit! by Gal Crypto
Bustabit is a betting game where you try to guess the largest possible magic number in each contest. Sounds kinda dull, but there's a catch: this number is a Bitcoin multiplie...
ELI5 VRF – What are Verifiable Random Functions? by @Cryptobill
Verifiable Random Functions (VRF) are random number generators whose output can be cryptographically verified. Normally, the output of random number generators isn't cryptograp...
ELI5 NFT – What are Non-fungible Tokens? by @Cryptobill
Money is an abstract concept. Although most people link money to dollar bills, coins or Uncle Scrooge swimming in a pile of gold coins, the value of money is a much more complex s...
Proof of Space Time (PoST) Summary [Cryptocurrency consensus mechanisms] by @Cryptobill
Physicists have been discussing spacetime since the early 1900's. A very smart person, by the name of Albert Einstein, modeled space as 4 dimensions rather than just 3. The axis w...
ELI5 What is a blockmesh? by @Cryptobill
You've probably heard all about blockchains and how this technology promises to revolutionize finance, logistics, central banks and so on. But did you know that a blockchain i...
ELI5 Summary of cryptocurrency consensus mechanisms by @Cryptobill
There are currently two mainstream consensus mechanisms which are used by most cryptocurrencies: proof of work (PoW) and proof of stake (PoS). But these aren't the only ones! In f...