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 What are block confirmations? by @Cryptobill
All blockchain consensus mechanisms depend on some kind of verification that certain value has been added to the blockchain. This process is most popularly known as mining or st...
ELI5: What is WINk? [Formerly TRONBet] by Gal Crypto
WINk is a decentralized gaming application hosted on the TRON blockchain. Formerly TRONBet Previously known as TRONBet, the platform is now live at WINk.org At the time of thi...
ELI5 What was Oasis Mining? by Gal Crypto
Oasis Mining was an initiative by former crew from OALend Coin (OACCOIN). The core business idea was to raise money via crowdfunding (ICO) in order to produce cryptocurrency min...
ELI5 What is an ASIC miner? by Gal Crypto
ASIC stands for Application Specific Integrated Circuit As the name implies, an ASIC miner is a cryptocurrency mining machine built around a circuit designed solely for one spec...
ELI5 What is an adversarial Cardano staking pool? by @Cryptobill
If you've been following the Cardano testnet discussions then you've probably seen or heard the term adversarial staking pool. What does it mean, exactly, to be an adversarial s...
ELI5 What is a Bitcoin transaction? by Gal Crypto
In very simple terms, a Bitcoin transaction (TX), is the basic data structure supporting the transfer of value from one BTC address to another. In the featured illustration, yo...
ELI5 How to mine Monero by Gal Crypto
Mining cryptocurrencies may seem out of fashion in 2020, but there's still a lot to be learned from the experience of validating blocks in exchange for a reward. A quick web sea...
ELI5 What is Honeyminer? by Gal Crypto
Honeyminer is an automatic multiple coin mining program that pays users to use their spare computing power. Honeyminer Software The MS Windows based software will run in the back...
ELI5 What is an Antminer? by Gal Crypto
Antminers are dedicated cryptocurrency mining machines developed and produced in mainland China by Bitmain. The original Satoshi Nakamoto Bitcoin client used to mine Bitcoins us...
ELI5 The Binance Exchange by Gal Crypto
Binance is a cryptocurrency exchange founded by Changpeng Zhao in China, in 2017. Although Binance had a late start when compared to Poloniex, Bitfinex and others, it quickly ga...