Bitcoin

A multi-sig wallet requires several signatures to gain access, sign, and send a cryptocurrency transaction.

While your local currency – whether it’s dollars, pounds or something else – are issued by central banks, new Bitcoins are issued to Bitcoin miners in return for certain tasks they carry out to keep it running. These tasks fall…

Proof-of-stake is a type of consensus protocol that relies on a network of ‘validators’ with similar responsibilities to miners.

Segregated Witness (SegWit) refers to a process to reduce the requirements for processing Bitcoin transactions by allowing information to be processed more efficiently to speed up the network. Specifically this refers to digital signatures used to verify transactions, which take…

Proof-of-work is a consensus mechanism used to confirm transactions on Bitcoin and other networks.

The more active miners there are on a blockchain, the harder the mining process is, with fewer rewards given each time a new block is mined. Mining pools were created in order to deal more effectively with the increasing difficulty…

The process of mining gold can be understood as it is a mineral found deep underground that can only be reached and salvaged using mining equipment. But can the same be said for something that only exists on computers?  While…

Bitcoin miners are much like the Ringo Starr of the crypto market. Quite literally hidden in the background or network in our example, miners aren’t usually at the forefront of any discussions or articles you may have read about Bitcoin….

Bitcoin is created through a process called mining. Using supercomputers, these miners confirm transactions on the Bitcoin blockchain and are rewarded for their efforts in the form of newly-created Bitcoin. These payments are called block rewards.  Through a process called…

Bitcoin that is “lost” refers to wallet owners that have lost access to their private keys. Critics argue that this is a vulnerability of Bitcoin and cryptocurrencies. If users lose access to their wallets, there is no way to recover…

Bitcoin’s price is linked directly to supply and demand, and events that impact the economy on a national and global level impact people’s need to buy or own (hodl) the cryptocurrency. When the economy is in a funk investors tend…

A term similar to Bitcoin miners, a blockchain validator is someone who is responsible for verifying transactions on a blockchain. Once these transactions have been verified or ‘validated’, they are then added along with the new block to the chain.